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Kauai Real Estate Update for Hanalei & Haena Single-Family Homes 11/20/08
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 ... more
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