Kauai market report through the 3rd Quarter, 2013.
The 2013 year-to-date statistics show significant increases from 2012 to 2013 in the number of sales and median sales price on Kauai. Residence and condo sales have increased by more than 14% – vacant land sales have increased by almost 46%. The median sales price for condos on Kauai has remained flat while the median sales price for residences and vacant land has increased by approximately 12%.
On the North Shore of Kauai (Waipake to Haena), the number of residential sales has been flat while the median sales price has decreased by 8%. Although the number of sales for condos and land has decreased, the median sales price has seen healthy appreciation – condos by almost 30% and vacant land by 46%.
The bottom line is that while other markets in the country have experienced rapid and significant gains in appreciation and sale volume, Honolulu being one of them, Kauai has not…yet. While this has been a bit frustrating for some Sellers, the window of opportunity for Buyers is still wide open. It appears not to be a matter of if, but of when. As a destination, Kauai has seen an increase in the number of direct flights from the mainland –- including San Diego, Los Angeles, San Francisco, Oakland, San Jose, Portland, Seattle, Phoenix, Denver and Vancouver which has resulted in a 9% increase in the visitor count for 2013.
Kauai has what many are searching for, in spades – clean air, clean water and a healthy lifestyle in the most temperate climate in the Western Hemisphere. Given Mexico’s demise as a tourist destination and the proximity of Kauai – 5 hours from 40 million people, the pace of real estate activity is likely to follow. While Maui, Oahu and the Big Island have experienced an uptick in their respective markets, the biggest challenge facing Hawaii is a lack of inventory as building starts are still lagging. Currently on Kauai you see very little new construction activity. Maybe it’s time to buy a lot and build.
Kauai Real Estate Services and Vacation Accommodations
If you are considering buying a home on Kauai you can see some of the island’s best real estate deals by browsing through the Coldwell Banker Bali Hai Realty Kauai Real Estate Galleries, or use the Map-Based Kauai Home Search.
For the finest quality Kauai vacation rentals including luxury estates, condos, cottages and beach villas, see our Kauai Vacation Rental Galleries or use our new Map-Based Vacation Rental Search feature.
Also please feel free to give us a call. The Bali Hai Realty staff will be happy to help you find the perfect Kauai vacation rental or assist you in the process of buying or selling a Kauai home. We also offer the highest level of personalized Concierge Services to help you plan your Kauai vacation activities.