Kauai Real Estate Market Update | August 2024 Year-to-Date Trends & Insights

Aloha! As we step into September, it’s the perfect time to take a look at how the Kauai real estate market has performed over the first eight months of 2024. Comparing this year’s data with the same period last year, the numbers tell a story of growth, resilience, and a market that continues to strengthen. With mortgage rates showing signs of softening, and the possibility of further decreases on the horizon, Kauai’s residential market isn’t showing any signs of cooling off.

I share these updates monthly, so if you appreciate a data-driven approach, make sure to like and subscribe to whichever channel you’re watching this on. Now, let’s zoom in on just the month of August:

August Sales

This August, 40 homes were sold, more than double the 19 homes sold in August 2023. It did take a bit longer to close deals, with the average days on market increasing from 42 last August to 71 this year. However, the sold price compared to the original list price stayed pretty consistent, moving only slightly from 93.27% in 2023 to 92.5% this year.

Looking at price adjustments in just the month of August, 38 homes made changes, but only 4 of those were increases. Despite sellers adjusting their prices, the median prices are still on the rise across the island