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Buying Advice

Buying a Home on Kauai? Here Is Last Year’s Stats, Compare Year End 2022 to 2021

May of 2022 was a game changer for real estate on a national level. That’s when the Feds started increasing the interest rates and they more than doubled in a short time and the market, well, it came to a dead stop. Immediately the talk shifted to what is going to happen next in the real estate market and that talk ranged from speculation of another 2008 housing crash to those saying buy now and refinance later. Honestly, any opinion you wanted to hear you could.

The only thing I heard that made any sense to me was a comment from an appraiser who has been doing appraisals here on Kauai for over 30 years. This guy has nothing to sell and has been through a number of up and down markets. He’s seen it all and, he’s seen it a couple of times. He said to me, “Who really knows what the outcome will be as we come out of this pandemic driven market? We’ve never seen anything like this!”

That was the only opinion that resonated with me.

The numbers don’t have an opinion or anything to sell, they are what I like to focus on. So let’s look at 2022 and see how it finished up compared to the end of 2021.

As inventory shrinks so, do the number of sales which are down in every area of Kauai. Island wide we sold 745 homes in 2021 compared to 473 in 2022. South Shore sold 194 homes and at the end of 2022 142. North Shore sold less than half of what they did last year which was 212 compared to 102 this year. Lihue sold 64 homes in 2021 and 40 in 2022.

Prices, on the other hand, are up island wide. The Median Price for a home on Kauai is now $1,180,000 compared to $1,100,000 last year which is a 7.27% increase. The South Shore is now at $1,246,875 compared to $1,224,750 which is a 1.81% increase. The North Shore finished this year at a whopping 34.97% increase, their median price is now $2,598,225 compared to $1,925,000 at the end of 2021. Lihue’s median price at the end of 2022 is $925,000 compared to 800,000 in 2021 an increase of 15.63%.

I welcome you to contact me to see how these numbers relate to your particular area of interest. If you would like to have Kauai Real Estate information delivered directly to your inbox every week you can sign up here:  https://conta.cc/3scxsX4

Happy New Year.
Lynda Gill RS Lic. 63088
808.346.0056
Hawaii Life

Posted on in Buying Advice, Hawaii, Market Intelligence, Market Trends, , , , , ,

Lynda Gill
About the Author

Lynda Gill

Lynda Gill is a Realtor Salesperson with Hawai'i Life. I have close to two decades of experience as a top-producing real estate agent on Kauai, where I’ve lived since 2004. I specialize in residential, relocation, and resort property sales in Poipu Beach, Lawai, Omao and Kalaheo, on the island’s South Side. Over the course of my career, I’m proud to have earned accolades and designations, including being recognized as a top performer by Hawaii Business Magazine. But what really drives me is helping my clients with one of the most significant events in their lives. There is nothing quite as satisfying as helping clients achieve their financial goals or seeing their eyes light up when the right property comes along. You can email me at lyndagill@hawaiilife.com or via phone at (808) 346-0056.

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