LIHUE — The real estate market ended the summer season on a hot note, as home sales and prices dwarfed the numbers put up a year earlier on the island of Kauai.
Sales of single-family homes leaped 52.94 percent to 26 in September from 17 in September 2023, according to monthly data pooled from multiple sources by Hawai‘i Realtors in Honolulu. The percentage increase was the only one recorded on the four major Hawaiian Islands last month.
At the same time, the median price soared 48.91 percent to $1,712,500 from $1,150,000. The median price was the highest recorded for any month this year on Kauai and nearly $1.2 million above the lowest posted in the four major islands last month.
The condominium market was not as enthusiastic with sales down 14.81 percent to 23 in September from 27 in September 2023. But buyers ponied up more dough, as the median price climbed 21.50 percent to $650,000 from $535,000.
The most active housing market in the state, which is normally the case, was Oahu. Home sales dipped 6.47 percent to 217 in September from 232 in September 2023. The median price was up 5.97 percent to $1,112,722 from $1,050,000 in the same period.
Sales of condos slipped 2.66 percent to 366 in September from 376 in September 2023, while the median price eased 2.82 percent to $517,500 from $532,500.
Home sales on Hawaii Island were off 10.91 percent to 147 in September from 165 in September 2023, while the median price rose 5.71 percent to $555,000 from $525,000.
Sales of condos plunged 51.79 percent to 27 in September from 56 in September 2023, while the median price advanced 15.97 percent to $719,000 from $620,000.
Home sales on Maui retreated 22.73 percent to 51 in September from 66 in September 2023, while the median price was up 8.79 percent to $1,408,287 from $1,294,500.
Condo sales sank 25.37 percent to 50 in September from 67 in September 2023, while the median price climbed 27.09 percent to $990,000 from $779,000.
In the nine-month period ended September 30, the Kauai single-family housing market was the most expensive in the Hawaiian Islands with a median price of $1,400,000.
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 the buyers and sellers.
