LIHUE — A sizzling summer real estate season racheted up the heat in August, as home sales hit a new monthly high this year on the island of Kauai.
Single-family home sales soared 115.79 percent to 41 in August from 19 in August 2023, according to monthly data pooled from multiple sources by Hawai‘i Realtors in Honolulu. The percentage increase was miles above any of the other major Hawaiian Islands.
But the leap in sales came with a cost, at least for sellers, as the median price dropped 26.11 percent to $1,330,000 from $1,800,000 in the same period. Of note, the island housing market was the only one of the four major islands to post a decrease in median home price last month.
The condominium market was not nearly as active last month, as sales dropped 12.50 percent to 21 in August from 24 in August 2023.
At the same time, the median price of a condo plunged 34.81 percent to $660,000 from $1,012,500.
The most active housing market in the state, which is routinely the case, was Oahu, where single-family home sales inched up 0.40 percent to 253 in August from 252 in August 2023. The median price was up 1.08 percent to $1,122,000 from $1,110,000 in the same period.
Sales of condos eased 4.98 percent to 401 in August from 422 in August 2023, while the median price slipped 2.91 percent to $500,000 from $515,000 at the same time.
Home sales on Hawaii Island were down 4.86 percent to 176 in August from 185 in August 2023, while the median price climbed 12.12 percent to $555,000 from $495,00.
Sales of condos slumped 19.23 percent to 42 in August from 52 in August 2023, while the median price retreated 5.14 percent to $581,000 from $612,500.
Home sales on Maui were up 8.47 percent to 64 in August from 59 in August 2023, while the median price rose 10.42 percent to $1,325,000 from $1,200,000.
But sales of condos plunged 34.65 percent to 66 from 101, while the median price jumped 33.33 percent to $1,000,000 from $750,000 in the same period.
Through the first eight months of the year, the Kauai housing market was the most expensive with the median price of a single-family home at $1,396,500.
That was followed by Maui at $1,300,000 and Oahu at $1,100,000. Hawaii Island weighed in with a median price of $549,000. The monthly report does not disclose the names of buyers and sellers.
