Kauai’s overall real estate market remains up and moving in a trend that most experts believe is sustainable. Through July, 2016, the number of sales increased by five percent compared to the same period last year. All sides of the island are up except for the North Shore, where sales decreased by eight percent and volume fell 20 percent.
Median price points for residential sales and land sales remain the highest in this location, pushing many local residents closer to the county seat of Lihue to find lower price points.
Hawaii’s primary industry is tourism and one might assume that the strength of this industry generates significant interest in second homes here. It does! Yet, research provided to us from Title Guaranty Escrow Services regarding 2015 and 2016 buying trends might surprise you. Check out the data they’ve provided below to see where Kauai buyers originate, what kind of properties they’re acquiring, and their geographic preferences.
To prepare for the Kauai Board of Realtors’ presentation at the Community Advisory Committee meeting on Housing and Social Equity, I looked to the experts at Title Guaranty to geographically sort the Buyers who most recently acquired property on Kauai. The data is telling and reflects that many members of our local community with stable employment and resources are taking advantage of today’s favorable interest rates.