Kauai real property sales for December 2021 are reflected in the graph above. 66 Kauai residential homes, 19 vacant Kauai land properties, and 62 Kauai condos were sold on the island of Kauai, totaling 147 transactions, for the month of December 2021. The Koloa district led sales with 50 transactions, followed by Kapaa with 37 transactions, followed by Hanalei with 35 transactions, followed by Lihue with 21 transactions and Waimea with 4 transactions.
See previous blog post for prior month’s statistics.
December 2021 and December 2020 monthly comparison reveals that Kauai home sales in December 2021 decreased by 8.33% compared to December 2020 home sales. The continued lack of inventory is the primary cause for the continued decrease in Kauai home sales. On the other hand, there is no lack of people looking to buy homes. Statistics show that it continues to be a seller’s market for the Kauai residential home market.
2021 Kauai condo sales increased by 58.97% compared to December 2020 condo sales. We believe sales in the condo market increased because of the favorable seller’s market. Since most Kauai condos are vacation rental units (not primary residences), it is easier to let go of these condos to capitalize on the high market value. Also, fluctuating travel and health regulations due to the covid pandemic produced unreliable vacation rental income. Most owners of vacation condos on Kauai rely on the transient vacation rental income to pay for their mortgage.
2021 Kauai vacant land sales decreased by 13.64 % compared to vacant land sales sold in 2020. And as the available built homes decreased, so did build-able vacant land.
To find out more, contact any one of the TEAM MIRA agents.