On the island of Kauai as a whole in 2013, there were positive gains in the number of units sold and median prices of those units in every category; residences, condominiums and vacant land. Some of the highlights would be the median price increase on residences by nearly 15% from $487,500 in 2012 to $527,000 in 2013. From a unit’s perspective, vacant land sales increased to 189 in 2013 from 132 in 2012. This was led by pockets of significant activity; the median price for residences was up 19% on the West Side, for condominiums the North Shore was up 30% and North Shore vacant land was up 40%. For unit sales, the South and West Side residential sales were up 23% and 27% respectively. Condominium unit sales were up 35% on the South Shore and vacant land unit sales almost doubled on the South Shore as well, up 89%.
The brightest spot was the South Shore where the number of sales and the median price of those sales were up significantly. West Kauai, with a small sample set, also showed general positive gains across the board. The East Side’s median prices were up, but unit sales were relatively flat. In Lihue, vacant land unit sales were up, but condos performed the best with more units being sold at a higher median price versus 2012. The North Shore unit sales for residences, condos and vacant land were all down year-to-year, although land and condo median prices increased.
The largest residential sale on Kauai was a $4M transaction on Hanalei Plantation Road. For comparison sake, 2012 saw 8 sales above $4M, with 7 of those coming from the North Shore.
There were two significant land sales, a 21-acre parcel in Poipu sold for $13M and 2 beachfront parcels on Hanalei Bay sold for $15M. In 2012, there was only 1 vacant land sale above $5M; the same 2 parcels on Hanalei Bay were sold for $13.5M.
21 Condos were sold for over $1M in 2013, 8 in Poipu and 12 in Princeville. 2012 saw 9 total condo sales over $1M.
Overall there were 983 property unit sales in 2013 versus 873 in 2012 and on average, at a 10% higher price point than in 2012.
Information provided by Hawaii Information Service.
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