Median price of single-family Kauai house rises 49 percent

Some pricey homes sold on Kauai last month, helping to kick up the median price in the market, according to a report released Thursday that also showed a price rise on the Big Island.

The report from Hawaii Information Service said the median price for single-family houses on Kauai surged 49 percent to $685,000 on 37 sales in August, from $460,000 on 25 sales in the same month last year.

Much of the gain appeared to be driven by activity in the Koloa region that includes Princeville and Poipu resorts. There were seven sales for a median $1.2 million in Koloa last month compared with five sales for a median $535,000 a year earlier.

According to property records, Koloa sales included a $2.3 million house in the Koloa Beach sub­division, a $1.5 million house in the Poipu Beach subdivision and a $1.2 million house at Princeville Resort.

A bump also came from sales in the Kawaihau region, another area on the Garden Isle with resort homes, where there were 10 sales for a median $609,750 last month compared with nine sales for a median $325,000 a year earlier.

The median is a point at which half the sales were at a lower price and half at a higher price. Hawaii Information service includes sales of both new and previously owned homes where sales closed in the month.

In Kauai’s condominium market, the number of sales declined 23 percent and the median price rose 13 percent.

There were 27 Kauai condo sales for a median $274,000 last month compared with 35 sales for a median $242,000 a year earlier.

On Hawaii island, sales and median prices rose by close to 20 percent for both the single-family house and condo markets.

The median Big Island single-family house sale price rose 19 percent to $320,000 last month from $270,000 a year earlier. The number of sales rose 18 percent to 174 from 147.

For condos, the median sale price rose 24 percent to $280,000 last month from $225,000 a year earlier. The number of sales was up 15 percent to 61 from 53.