Housing Prices and Sales Remain Strong on Kauai

Many would have thought the severe weather would slow down the market, but the statistics are not reflecting a downturn in the market. During the month of August, Kauai saw an increase in sales by 14% over last year. And year to date (YTD) up until August, our sales are up over last year by 13% even as record-breaking rains and severe weather impacted Kauai’s North Shore and areas of Kauai’s East Side.

North Shore

The areas of Haena/Wainiha on Kauai’s North Shore are now more secluded than they ever have been. Due to the flooding and landslides our main road, Kuhio Hwy is still closed just past Hanalei and only open to local residents during certain times each day. One would think this would slow down mainlanders from purchasing here especially since vacation rental revenue has been majorly impacted. But interestingly enough, statistics are showing some buyers are not deterred. Perhaps the added seclusion of Kauai’s North Shore has spiked the interest of the elite? Sales are up a whopping 14% on the North Shore and YTD the number of sales has increased by 6%. Sales volume is very strong with a major increase in total sales volume for a total of $496,668,603 sold in real estate YTD up until August 31. That makes up an increase of 40%. Median sales prices also continue to climb on Kauai’s North Shore. Median sales price increased to $1,227,500 which is a 23% increase over last years median in August of $999,999. Currently, the YTD median sales price of a home on the North Shore is $1,275,000, a 7% increase over last year. There have been 2 homes sold since the flooding in Haena for over $8,000,000. Despite our historic bad weather, sales and prices continue to rise. For a list of all the homes that have sold out in Haena since the flood click here.

Photo by Kimberly Estrella

East Side

For the East Side specifically, home sales decreased in August by 2 sales, but our YTD sales are holding strong with an increase of 17% for 17 more homes sold so far this year than last year. The median sales price for August went up by 21% to $750,000. Our current YTD median has increased by $31,000, a 5% increase to $611,000 over last years median of $580,000 for the East Side of Kauai.

Lihue

The number of sales was flat for August with 5 homes sold, the same number as last year. YTD however, Lihue sales are up by 26% for a total of 117 homes sold, 17 more than last year. Total current sales volume in Lihue increased by 76% for a total of $47,293,089 sold YTD. Median sales prices have increased also in Lihue by 15%. The current median for a home in Lihue $591,838 an increase of $76,839 over last year.

Koloa

Koloa residential sales are on fire. We sold 17 more homes in Koloa for an increase in sales of 26%. Total sales volume went up by 28% for a total of $121,784,918 sold YTD. An increase of $26,385,089. The median sales price in Koloa has also climbed. The current median sales price for a home in Koloa/Poipu area is $813,000, up by $108,000 for a 15% increase.

If you are thinking of buying or selling on Kauai please contact me. If you have any questions on the real estate market at all please call me. I look forward to helping you with all your real estate needs.