Kauai


Kauai is the fourth largest of the Hawaiian Islands. Kauai is home to the spectacular Waimea Canyon, which Mark Twain christened the “Grand Canyon of the Pacific.” Waimea Canyon is two miles wide, ten miles in length, and 3,600 feet deep and features gorgeous reds, greens, and browns created by various volcanic flows over the centuries. Kauai is well-known for its lush foliage and lengthy white sand beaches. You can kayak Kauai’s rivers if you are looking for a bit of adventure, and hike numerous trails. Enjoying the outdoors is definitely where it is at for residents and visitors of Kauai alike.

There are very few short sales and other distressed properties available in the real estate market of the island of Kauai. In addition, there is not much new construction happening on Kauai therefore the inventory level is low. Although Kauai’s home prices are increasing as compared to 2012, they are not increasing at as rapid a rate as some of the other islands in Hawaii. Now is a great time to buy to get in before the Kauai housing market inevitably catches up to the other islands. Buying investment property as well as a personal residence are both excellent options currently.

The median sales price of a home in Kauai in September of 2013 was just $515,000 as reported by the Hawaii Association of Realtors. This is a bit lower than the median sales price of $531,000 on the island of Maui and $160,000 lower than a home in Oahu. Lately, more single-family homes are selling than condos on the island of Kauai.

In September of 2013, there were 39 single-family homes sold in Kauai at a median sales price of $490,000. In addition, there were 28 condo sales at a median sales price of $207,500. In both the instances of single-family home sales and of condo sales the number of actual sales was up from both the month prior and the year before however the median sales prices were down significantly both from the month prior and the year before.

Therefore, there are more inventories currently, but sales prices are down. That makes now a great time to buy property before the market heats up and while interest rates are still low. Sellers in Kauai may wish to wait a bit before selling their property since the median time to sell a home on Kauai is 136 days for a single-family home and 175 days for a condo to sell in September of 2013. Buyers are clearly taking their time when deciding on a purchase in Kauai.

Latest Kauai Properties December 201