Kauai real estate sales for 2011 presents a mixed picture that is heavily dependent on the the island region. Overall, 2011 prices were down from 2010 but the big exception was Kauai's South Shore, a major tourist destination area.
On the South Shore, large increases in sales price were seen in all 3 property types, residential, vacant land, and condominiums. This suggests a return of resort property buyers who had been absent since the market downturn began in 2006. At its worst, South Shore condo absorption rates were a whopping 10 years! Now it's a much more reasonable 18 months.
The flip side of the South Shore is the Lihue condo market, down a whopping 55%! This figure would be very misleading if one were to assume is was uniformly distributed across all condo projects. In fact, the huge driver has been Kauai Beach Resort lodging units which has been selling at prices as low as 10 cents on the dollar of initial purchase price. These units represented over half of all condo sales in the Lihue market in 2011. Additional information on Kauai Beach Resort is available from the author or by visiting www.KauaiRocks.com/kbr.
2011 Kauai sales data is summarized below.
Aloha & best wishes for 2012!