LIHU‘E — Home sales and prices climbed for the third straight month, as the Kaua‘i housing market continues to try and shake off a dismal performance in 2023.
Sales of single-family homes on the island increased to 29 in March from 26 in March 2023, according to monthly data pooled from multiple sources by Hawai‘i Realtors in Honolulu. That marked a gain of 11.54 percent.
At the same time, the median price leaped 48.84 percent to $1,600,000 from $1,075,000. The median price of a single-family home on Kaua‘i was easily the highest among the four major islands and more than $1 million higher than median price on Hawai‘i Island, which was the lowest in the same period.
The condominium market wasn’t nearly as frisky with sales down 23.08 percent to 30 in March from 39 in March 2023. But fewer sales translated to higher costs, as the median price jumped 35.13 percent to $777,000 from $575,000 in the same period.
Single-family home sales were mixed across the other three major islands in March.
Home sales on O‘ahu eased 2.54 percent to 230 in March from 236 in March 2023, while the median price inched up 1.50 percent to $1,100,000 from $1,083,750.
But sales of condos retreated 22.52 percent to 344 in March from 444 in March 2023, while the median price slipped 6.72 percent to $500,000 from $536,000.
Demand for single-family homes was also down on Hawai‘i Island, which posted a decrease of 7.32 percent to 152 in March from 164 in March 2023, while the median price rose 6.77 percent to $587,250 from $550,000.
Sales of condos were unchanged at 58, while the median price advanced 13.03 percent to $672,500 from $595,000.
Home sales on Maui were nearly unchanged at 1.35 percent to 75 in March from 74 in March 2023, while the median price moved 9.46 percent higher to $1,303,692 from $1,191,000.
But sales of condos sank 23.77 percent to 93 in March from 122 in March 2023, while the median price soared 62.86 percent to $1,300,000 from $798,250.
