One part of Hawaii’s housing market started the new year with a bang.
Perhaps more eye-popping than a fireworks show was the median price for condominiums sold on Kauai last month.
This price just about doubled to $570,000 in January compared with $287,500 in the same month a year earlier, according to Kauai Board of Realtors statistics.
However, the 98 percent gain was largely attributable to a handful of leasehold condos sold in the Koloa area in January 2018. These condos at Kiahuna Plantation sold for as little as $23,000 to produce a median price of $105,000 for the Koloa region in January 2018. Last month the median price for Koloa condos was $585,000.
Overall, there were 31 condos sold on Kauai last month, compared with 34 in the year-earlier period.
The median price for single-family homes sold on Kauai was $685,750 last month, down 11 percent from $770,000 a year earlier. The number of single-family homes sold rose slightly to 48 last month from 45 a year earlier.
Hawaii Information Service published the statistics Tuesday for the Kauai association of real estate agents.
The firm also published data from Hawaii Island Realtors that showed smaller median price changes on the Big Island compared with Kauai.
Single-family homes on Hawaii island sold for a median $361,250 last month, up 10 percent from $329,000 a year earlier. For condos the median price dipped 2 percent to $341,500 from $347,000 in the same period.
There were 143 single-family homes sold on Hawaii island last month, down 17 percent from 173 a year earlier. The number of condo sales rose 11 percent to 61 from 55 in the same period.
ON THE MOVE
Bank of Hawaii has announced the following new vice presidents:
>> Kyle Bischoff has been promoted to vice president from assistant vice president. He will continue serving as a portfolio management officer in the bank’s Corporate Banking, managing corporate banking client credit requests and risk management. Bischoff first joined Bank of Hawaii in 2014 and was a senior credit analyst.
>> Marissa Machida has joined Bank of Hawaii as vice president and fiduciary relationship manager in the bank’s Personal Trust-Fiduciary Wealth Department. She has nine years’ experience working in various law firms as an attorney as well as a deputy prosecuting attorney in Honolulu. Machida also served as a law clerk for the Honorable Derrick H.M. Chan in Probate Court as well as for the Honorable Colleen K. Hirai.
>> Zamuel Pascual has been promoted to vice president from assistant vice president in Residential Loan Operations and Underwriting, while he will continue to serve as an underwriting supervisor. Pascual has 16 years of experience in Bank of Hawaii’s Residential Loan Operations and Underwriting Department.
