Market Intelligence

Kauai Market Update ~ Q4 2022

With 2022 in the rear view mirror, we take a look at both the fourth quarter of 2022 as well as the past year as a whole. Though the Kauai market remains active and healthy, the statistics note a clear shift from the peaks in sales and sales volume that occurred in 2021. Despite fewer sales however, prices are steady (or even higher) compared to previous periods.

In the fourth quarter of 2022, residential sales across the entire island saw a 45.2% dropoff compared to the same period in 2021, with sales volume at $149.9M compared to $273.4M. Similarly, residential island-wide sales droppped significantly from 164 in Q4 2021 to 75 in Q4 2022, a 54.3% decline. With respect to the North Shore of Kauai, sales volume fell from $116.7M during the last quarter of 2021 to $80M during the same period of 2022 reflecting a 31.5% change. North Shore residential number of sales dropped 57.8% from 45 sales during Q4 2021 to 19 during Q4 2022.

We see similar declines when we look at the year on year data for the entire periods of 2021 and 2022. In 2021, the entire island saw a residential sales volume of $1.382 billion. In 2022, residential sales volume fell off 30.3% to $963.8M. The North Shore residential segment fell 39.8% from $707.8M in 2021 to $425.8M in 2022.

Median prices however continued their climb in 2022. Island-wide residential properties saw a median price increase of 7.3% from $1.1M to $1.18M. On the North Shore, median prices rose 35% in 2022, increasing from $1.925M in 2021 to $2.6M in 2022. Given the significant number of sales over these annual periods, this a highly meaningful and more telling measure of the median price changes than the typical quarterly median prices which suffer from a greater variability. In summary, this is an impressive increase in value over the period and residential values have showed little sign of decline over the previous quarter.

If you’d like to explore the numbers a bit deeper, check out the market snapshot below for Q4 2022 and Annual 2022, or via the following links for enlarged versions – Kauai Snapshot Q4 2022 / Kauai Snapshot Year on Year 2022

kauai snapshot

kauai snapshot 2021 vs 2022

Monthly Sales and Median Price Statistics

The below chart depicts monthly sales and median prices for both the entire island and the North Shore and another representation of the market slow down. The past six months (for both the entire island and the North Shore) offer a clear indication of the slow down of the number of sales.kauai residential sales and median price sales

Long-Term Quarterly Median Sales Price Trends

Despite the slow down in the number of sales and sales volume, price levels are historically strong.  The long-term data shows that current values are well above any prior peaks in the data.kauai residential median sales price appreciation

Thank you for your trust and support during 2022.  We are so grateful to serve you in your real estate needs and we look forward to doing so once again in 2023.

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