August 2022 and August 2021 monthly comparison reveals that the number of Kauai home sales in August 2022 decreased by 43.06% compared to August 2021 home sales. August 2022 Kauai land sales decreased by 47.37% compared to August 2021 land sales. August 2022 Kauai condo sales decreased by 24.14% compared to August 2021 condo sales.
Despite the decrease in the amount of Kauai properties sold compared to last year August, it continues to be a seller’s market for Kauai properties, due to the lack of inventory and despite the increase in mortgage rates. However, the increase in sales prices have slowed down significantly. August 2022 median prices island-wide increased by 7% for residential properties, 6% for vacant land and 4% for condos as compared to August 2021 prices. The take away: It is still a good time to sell your Kauai property.
Kauai real property sales for August 2022 are reflected in the graph above. 41 Kauai residential homes, 10 vacant Kauai land properties, and 44 Kauai condos were sold on the island of Kauai, totaling 95 transactions, for the month of August 2022. The Koloa district led sales with 35 transactions, followed by Kapaa with 24 transactions, followed by Lihue with 15 transactions, followed by Hanalei with 13 transactions, and Waimea with 8 transaction.