LIHU‘E — Sales of single-family homes on Kaua‘i plunged 49 percent in the first six months of the year, marking the largest percentage decrease of the four major Hawaiian Islands.
A total of 155 homes were sold in the six-month period ended June 30, compared with 304 in the six-month period ended June 30, 2022, according to monthly data pooled from multiple sources by Hawai‘i Realtors in Honolulu.
At the same time, the median price of a single-family home eased 8.33 percent to $1,100,000 from $1,200,000.
The condominium market was slightly better, but sales were still off about 35 percent to 163 in the six-month period ended June 30, compared with 251 in the six-month period ended June 30, 2022. In the same period, the median price of a condo slipped 1.44 percent to $685,000 from $695,000.
Neighbor islands
O‘ahu posted a 34.65 percent decrease in single-family home sales to 1,277 in the six months ended June 30, compared with 1,954 in the six months ended June 30, 2022. At the same time, the median sales price dipped 5.51 percent to $1,050,000 from $1,111,211.
Sales of condos were off 35.82 percent to 2,372 from 3,696. The median price fell 2.91 percent to $500,000 from $515,000.
Hawai‘i Island recorded a 34.83 decline in single-family homes sales to 986 from 1,513. The median price dwindled 1.77 percent to $500,000 from $509,000.
Sales of condos were down 33.07 percent to 342 from 511. The median price edged up 1.30 percent to $582,500 from $575,000.
Maui notched a 34.31 percent drop in single-family home sales to 381 from 580. The median price was off 2.34 percent to $1,150,000 from $1,177,500.
Sales of condos sank 47.93 percent to 515 from 989. The median price climbed 10.67 percent to $840,000 from $759,000.
All told, there were 2,799 single-family home sales on the four major islands in the six months ended June 30, compared with 4,351 in six months ended June 30, 2022. That marked a decrease of 35.67 percent.
Sales of condos dropped to 3,392 from 5,447 or 37.73 percent. The median price inched up to $651,875 from $636,000 or 2.50 percent.
•••
Wyatt Haupt Jr., editor, can be reached at 808-245-0457 or whaupt@thegardenisland.com.
