When talking about Kauai real estate, it’s important to keep in mind that the island of Kauai is divided into 5 districts. Many people are drawn to Hanalei and why not? Great views, beautiful ocean, great surf, wonderful people, and more.
However, when talking about Hanalei, keep in mind that the Hanalei “district” is one of those 5 districts and it covers the area from Kilauea to Haena. So, when you’re looking at property and it says “Hanalei district” that doesn't necessarily mean the home (condo or land) is in the “town” of Hanalei.
Now that we’ve cleared that up... In looking at the MLS sales statistics posted for October 2008, they indicate that the median price for single-family residential homes in the Hanalei district increased 42.37% between October 2007 (when it was $737,500) and Oct. 2008 (when it was $1,050,000).
I decided to take a closer look at “average” prices versus “median” prices. Between Oct. 1, 2008 and Oct. 31, 2008, three homes were sold in the Hanalei district (two in Kilauea and one in Princeville). The average (not median) sale price was under one million (i.e. $985,833.33).
Between Oct. 1, 2007 and Oct. 31, 2007, six homes were sold in the Hanalei district (one in Kilauea, 2 in Princeville, one in Hanalei, one in Wainiha and one in Haena) with an average price of over one million (i.e. $1,230,833.30). While the number of sales, between Oct. 2007 and Oct. 2008, went down 50%, the average sales price (not asking price) decreased by approximately 20% - even though the median price increased.
In the meantime, for those interested in single family homes specifically between Hanalei town and Haena, there are currently 31 of them on the market priced from $799,000 (Days on market = 231) to $15,000,000 (DOM=1,624).
Two of the newest homes on the market in this area, since my last update, are:
- A 2-bedroom/2-bath at 05-7111 Kuhio Hwy (MLS 218007) for $1,595,000 (960 SF living space, DOM=2).
- A 2.97 acre estate at 5-7234 Kuhio Hwy (MLS 208632, DOM=15) with two 4-bedroom homes and a tennis court on the property (one home is oceanfront).
(Information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed).
Want more information about property in the Hanalei district (i.e. Kilauea, Princeville, Hanalei, Wainiha, Haena)? When paradise is calling you, call me!
Have a great day. Mahalo for your time.
Debra A. Jason, RA, ABR
Realtor-Associate, Accredited Buyers Rep.
(808) 826 1846, cell: (808) 635 8031
www.kauaihawaii-realestate.com
Vision Realty All Islands Kauai - located on the highway in Hanalei, Kapaa & Lihue
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