The number of sold homes and condos across Kauai, Maui, and Hawaii Island decreased in March of this year compared to March 2022, with the exception of Kauai condos. However, inventory is up in all markets so activity may begin to increase. There is variation in home and condo median price across islands. Both types of properties are taking longer to sell than last year.
If you are considering selling, buying, or you need property management services, we are here to serve you. The real estate market is starting to pick up again and we have refer you to great realtors on the neighbor islands.
Kauai Market Update & Top Sales
SFH Stats March 2023 vs March 2022
- 3 Sold, down 79% from 14
- Median Price $1,560,000, down 34% from $2.37M
- $1,244/sq ft, up 39% from $893
- Sold for 98.8% of list price, compared to 98.6%
- 87 DOM, 64 days slower
- 51 Total Inventory, up 82%
- The most active price range is $2,600,000-$2,999,999
Condo Stats March 2023 vs March 2022
- 17 Sold, up 13% from 15
- Median Price $1,329,100, up 8% from $1.23M
- $785/sq ft, down 26% from $1,065
- Sold for 94% of list price, compared to 100%
- 43 DOM, 31 days slower
- 39 Total Inventory, up 44%
- The most active price range is $950,000-$999,999
Single-Family Home Top Sale of the First Quarter
Kalaheo
5 bedrooms | 6.5 bathrooms | 5,624 square feet interior | 3 acres land
Why this property is spectacular: Situated on 3.01 impeccably presented acres on Kauai’s south shore stands an impressive private estate crafted in Kauai’s classic architectural style. Here you will find design and craftsmanship adjoining in a most elegant and functional manner.
Sold at: $3,875,000 in February after 33 days on market to buyers from Texas.
Picture courtesy of Redfin.com
Condo Top Sale of the First Quarter
TK Resort, Hokuala
3 bedrooms | 3.5 bathrooms | 2,026 square feet interior
Why this property is spectacular: Maliula 2403 is a penthouse-style residence perched at the highest reaches of the building where you’ll enjoy stunning ocean and lighthouse views from your 3 spacious lanais as well as the infamous 15th hole of the Ocean Course at Hokuala. Inside you’ll find an exceptional level of finish, with thoughtfully designed custom cabinetry, natural stone vanities and beautifully appointed kitchens that feature Thermador and Bosch appliances.
Sold at: $3,900,000 in March after 14 days on market to buyers from California.
Picture courtesy of Redfin.com
Maui Market Update & Top Sales
SFH Stats March 2023 vs March 2022
- 18 Sold, down 44% from 32
- Median Price $2,431,500, up 7% from $2.26M
- $1,381/sq ft, up 36% from $1,014
- Sold for 96.3% of list price, compared to 100%
- 135 DOM, 81 days slower
- 154 Total Inventory, up 50%
- The most active price range is $1,700,000-$1,799,999
Condo Stats March 2023 vs March 2022
- 22 Sold, down 61% from 56
- Median Price $2,150,000, up 26% from $1.7M
- $1,598/sq ft, up 7% from $1,498
- Sold for 99% of list price, compared to 100%
- 64 DOM, 8 days slower
- 91 Total Inventory, up 72%
- The most active price range is $2,200,000-$2,399,999
Single-Family Home Top Sale of the First Quarter
Makena, Kihei
5 bedrooms | 7 bathrooms | 7,394 square feet interior | 26,136 sq ft land
Why this property is spectacular: This Modernism Architecture Masterpiece is situated on 158 linear feet of ocean frontage with breathtaking views.Two-story glass windows and soaring ceilings create rooted connectivity with the aqua Pacific Ocean and contrasting lava rock. Continuous sliding glass doors give way to sweeping ocean views and cooling trade wind breezes.
Sold at:$32,673,491 in January after 95 days on market to investors from California.
Picture courtesy of Redfin.com
Condo Top Sale of the First Quarter
Makena Beach Club and Residences, Kihei
5 bedrooms | 5.5 bathrooms | 4,577 square feet interior
Why this property is spectacular: The unit is part of the Makena Golf and Beach Club project. It features ocean views and is across from Makena Bay.
Sold at: $13,000,000 in February after 762 days on market.
Picture courtesy of Redfin.com
Hawaii Island Market Update & Top Sales
SFH Stats March 2023 vs March 2022
- 24 Sold, down 27% from 33
- Median Price $1,512,500, up 1% from $1.50M
- $732/sq ft, no change
- Sold for 97.9% of list price, compared to 100%
- 39 DOM, 29 days slower
- 134 Total Inventory, up 106%
- The most active price range is $1,100,000-$1,199,999
Condo Stats March 2023 vs March 2022
- 17 Sold, down 50% from 34
- Median Price $1,198,000, down 23% from $1.56M
- $804/sq ft, down 13% from $928
- Sold for 100% of list price, compared to 100%
- 5 DOM, 1 day faster
- 67 Total Inventory, up 179%
- The most active price range is $950,000-$999,999
Single-Family Home Top Sale of the First Quarter
Hualalei Resort, Kailua-Kona
5 bedrooms | 5.5 bathrooms | 5,183 square feet interior | 41,529 sq ft land
Why this property is spectacular: Located in Pi’iuka Estates, our newest residential community, this custom residence offers dramatic views of the 14th fairway of the Ke‘olu Golf Course with panoramic vistas of the ocean, Hualalai Mountain, Maui, and sunsets. Enjoy outdoor living with a covered lānai that leads out to a built-in BBQ and dining area, ideal for relaxing poolside and enjoying the island’s cool breeze.
Sold at: $14,600,000 in January before listing to an investor from Washington.
Picture courtesy of HualalaiRealty.com
Condo Top Sale of the First Quarter
Estate Villas At Hualalai Ph III, Kailua-Kona
4 bedrooms | 4.5 bathrooms | 4,510 square feet interior
Why this property is spectacular: This beautifully updated and meticulously maintained Estate Villa with a private swimming pool, spa, and landscaped yard, is steps away from the Members-only Canoe Club and beach activities. The tranquil views of the Members-only Ke’olu Golf Course and the Pacific Ocean frame its lovely backyard.
Sold at: $8,300,000 in February before listing to a chairman of the board of Eli Lilly.
Picture courtesy of Redfin.com
Source: State Tax Office & Bureau of Conveyances; Title Guaranty
To discuss the market in your area or the value of your home, please call our office at (808) 593-9826 or email concierge@caronb.com
Caron Davis, Realtor
(808) 286-5256