Kauai condominiums continue to be having their moment due to the resilient housing prices and lack of inventory. While the number of sales are down by double digits prices are up in every district on Kauai.
Sold Condos on Kauai
In the first 6 months of 2022 we had sold 251 condos compared to 163 this year which is a decrease of -35.06%. The South Shore went from 101 sold to 58 in 2023 a -42.57% decrease. North Shore had 46 condominiums sold in 2022 and 31 this year, a -32.61% decrease. Lihue was down by -26.09% from 69 in 2022 to 51 in 2023.
Median Price
The North and South Shore have the highest concentration of Vacation Rental Condominiums which are really leading the market right now, these areas area also the ones that saw the highest gains in the median price. Island Wide the median price went from $695,000 in 2022 to $685,000 in 2023 a -1.44% decrease and I attribute this to be due to the number of sales being so low, there was no district on Kauai that had a decrease in the median price, in fact it was just the opposite. The South Shore has a large number of leasehold condominiums and despite that the median price still went up 13.20% from $701,000 in 2022 to $793,500 in 2023. The North Shore is now at $1,100,000 from $987,000 last year a 11.45% increase. Lihue was up 7% at $535,000 in 2023 from $500,000 in 2022.
If you are buying a condominium these numbers won’t be ones that you’ll use for an offer price. For that, it’s best to do a specific analysis on the condominium complex itself where location, views and the interiors play a large role.
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I hope you have enjoyed the video and have a wonderful rest of your day. Aloha!
Lynda Gill RS Lic 63088
Hawaii Life
808.346.0056
Francine Champoux
August 2, 2023
Your video was informative and a wake-up call for me. I lived on Oahu for 38 years, but once I retired, I was faced with a very difficult decision. I ended up selling my condo and I relocated to Tucson in May 2016. Seven years later, I am starting to regret my decision and miss Hawaii. I am wanting to come back to the islands but I want to live on Kauai. There may be a property out there that’s perfect for me.