According to the Hawaii Information Service, both the number of sales of detached homes and condominiums increased in 2018 compared to 2017. 596 detached homes sold in 2018, compared to 551 detached home sales in 2017, which represents a 8.17% increase. Similarly, 481 condominiums sold in 2018, compared to 451 condos sold in 2017, representing a 6.65% increase. However, the 169 vacant land unit sales in 2018 represented a 25.22% decrease compared to the 226 vacant land units that sold in 2017.
Interestingly, the median sales price for detached homes, condominiums AND vacant land units increased by approximately 6%-7% in 2018 compared to 2017.
The combination of increased number of sales and increased median sales price for the detached home and condominium markets correlated directly to substantial increases in total sales volume in 2018 compared to 2017. The total sales volume of detached homes on Kauai in 2018 was $749,459,497, which was a whopping 39.66% higher than the total sales volume realized in 2017. Similarly, the total sales volume of condominiums on Kauai in 2018 was $288,914,670, which was 34.09% higher than the total sales volume realized in 2017. However, despite vacant land seeing an increase in median sales price in 2018, the dramatic decrease in number of sales still lead to a decrease in total sales volume for vacant land units in 2018, as the year-end total of $108,948,979 was 16.45% lower than the 2017 year-end total.