Kauai real property sales for January 2022 are reflected in the graph above. 48 Kauai residential homes, 16 vacant Kauai land properties, and 25 Kauai condos were sold on the island of Kauai, totaling 89 transactions, for the month of January 2022. The Koloa district led sales with 28 transactions, followed by Kapaa with 23 transactions, followed by Hanalei with 18 transactions, followed by Lihue with 13 transactions and Waimea with 7 transactions.
See previous blog post for prior month’s statistics.
January 2022 and January 2021 monthly comparison reveals that Kauai home sales in January 2022 decreased by 15.65% compared to January 2021 home sales. January 2022 Kauai condo sales decreased by 47.30% compared to January 2021 condo sales. The continued lack of inventory is the primary cause for the continued decrease in Kauai home and Kauai condo sales.
On the other hand, there is no lack of people looking to buy Kauai homes and Kauai condos. Statistics show that it continues to be a seller’s market for the Kauai residential home and condo market. However, we do notice price reductions across the board, which tells us the frenzy in prior months which caused sellers to increase their prices, has died down a bit.
January 2022 Kauai vacant land sales increased by 159.31 % compared to vacant land sales sold in January 2021. As the available built homes decreased, buyers looked toward vacant land. The Koloa district showed the biggest increase in vacant land sales. Seven (7) of the sixteen (16) Kauai vacant land sales were luxury Poipu homesites of Kukui’ula that ranged from $750,000 to $1,150,000.