Kauai real property sales for February 2022 are reflected in the graph above. 44 Kauai residential homes, 20 vacant Kauai land properties, and 43 Kauai condos were sold on the island of Kauai, totaling 107 transactions, for the month of February 2022. The Koloa district led sales with 41 transactions, followed by Kapaa with 20 transactions, followed by Hanalei and Lihue with 18 transactions each, and Waimea with 10 transactions.
See previous blog post for prior month’s statistics.
February 2022 and February 2021 monthly comparison reveals that Kauai home sales in February 2022 decreased by 10.20% compared to February 2021 home sales. February 2022 Kauai land sales increased by 42.86% compared to February 2021 land sales. February 2022 Kauai condo sales increased by 16.22% compared to February 2021 condo sales. We believe that the lack of inventory for residential homes is the primary cause for the continued decrease in Kauai home sales. However, as the lack of built product prevailed, some consumers turned to vacant land purchases.
On the other hand, there is no lack of people looking to buy Kauai real estate. Statistics show that it continues to be a seller’s market for Kauai real estate.
The Koloa district showed the biggest increase in residential home sales. Only three (3) of the twenty (20) Koloa residential sales were sold below $1M.