Kauai and Hawaii isle see mostly growth in home sales and prices

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COURTESY PHOTO
The Hoku model home at the Wainani at Kiahuna subdivision on Kauai features three bedrooms, three baths and 2,041 square feet. Originally priced at about $2 million, an investment firm bought six model homes and 63 lots in the subdivision at a recent foreclosure auction.

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three baths and 2

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Housing markets on Hawaii island and Kauai started 2014 mostly with growth in home sales and median prices for January, according to a report released Wednesday by Hawaii Information Service.

The only negative spot was in the number of single-family home sales on Kauai, which fell 31 percent to 20 sales last month from 29 in the same month last year.

In Kauai’s condominium market, the number of sales more than doubled to 33 in January from 15 a year earlier.

On Hawaii island, the number of sales rose modestly. There was a 5 percent gain in single-family home sales to 113 last month from 108 a year earlier.

For condos, sales rose 9 percent to 50 units from 46 units in the same comparable period.

Median sale prices, which indicate a point at which half the sales were for a higher price and half for a lower price, rose mostly by double digits in the two neighbor island markets.

The biggest gain occurred for Hawaii island condos, which sold for a median $257,750 in January, representing a 32 percent increase over $195,000 in the same month last year.

Hawaii island’s single-family home median sale price rose 26 percent to $334,000 from $265,000 in the same period.

On Kauai, the median price for single-family homes rose 19 percent to $483,750 last month from $405,000 a year earlier.

The condo price was up 3 percent to $310,000 from $300,000.