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.