May 2009 Kauai Real Estate Market Update

Kauai saw a decrease of about 15% in the median price and 28% for sales volume for single family prices for the month of May 2009 compared to 2008.

Kauai home Sales May 2008 vs. 2009
	Homes Sold
Neighborhood	2008	2009	Median Sale Prices
Waimea	2	2	$ 415,000	$ 449,750
Koloa	3	4	$ 860,000	$ 705,000
Lihue	2	3	$ 443,500	$ 600,000
Kawaihau	9	2	$ 525,000	$ 634,000
Hanalei	5	4	$ 850,000	$ 970,000
Island of Kauai	21	15	$ 705,000	$ 600,000

Condos were down about 31% for sales volume and about 45% in median price for May, but the condo market median price can be easily misunderstood by an increase in sales volume for the lower end condo sale with no sales in the upper end vacation rental market.

Kauai Condo Sales May 2008 vs. 2009
	Homes Sold
Neighborhood	2008	2009	Median Sale Prices
Waimea	0	0	$ 0	$ 0
Koloa	3	3	$ 533,975	$ 320,000
Lihue	5	1	$ 305,000	$ 180,000
Kawaihau	0	2	$ 0	$ 95,000
Hanalei	11	7	$ 876,000	$ 440,000
Island of Kauai	19	13	$ 610,000	$ 330,000

Information on May sales on the island of Kauai was provided by Russell Tucker a Kauai real estate expert.