After you've spent a vacation or two on the Garden Isle, you may decide that buying real estate in Kauai, HI is the right thing for you. After all, what could be better than having a home on the island of your dreams, allowing you to visit whenever you'd like? Maybe you've decided to make Kauai your permanent home or perhaps you'd like to buy a property that you can rent to Kauai visitors.
Regardless of your intentions, investing in the real estate of Kauai, HI has proven to be a wise decision for at least the past 10 years. Though the island was devastated by Hurricane Iniki in 1992, it pulled itself up by the boot straps, made necessary repairs and renovations, and home prices continue to rise.
Real estate in Kauai, HI isn't cheap, largely due to the small amount of properties and land available. Building rules stating that buildings are not to be higher than a coconut tree (about 4 stories) has kept builders from constructing imposing high-rise condominium structures that would make multiple beachfront units available to the investor.
In fiscal year 2004, according to Kauai Found Real Estate Sales and Marketing, housing prices in Kauai increased by a whopping 67% over the previous year and available vacant land was selling for more than existing houses. Chances are, if you can afford to invest in paradise, you're investment will grow and grow throughout the years to come.
Note: For information on real estate in Hanalei see our dedicated webpage on Hanalei Real Estate.
Be ready to dole out some cash if you've got your heart set on buying real estate in Kauai, HI. The median price for a home in Kauai is about $550,000 with the median price for vacant lots reaching $600,000. If you're comparing major towns, Kapa'a may turn out to be one of the most affordable areas. Small towns like Hanapepe, Kekeha, and Kalaheo offer homes in the $350,000 to $500,000 range as well.
Beach areas, of course, boast the most opulent and expensive homes, with prices in the multi-million dollar range. Princeville, Poipu, Anahola, and Hanalei offer spectacular homes on the ocean or surrounded by acres of lush gardens, some of the most beautiful of all Kauai real estate.
There are basically three types of property available on the market when it comes to buying real estate in Kauai, HI. Single family homes are the most popular type of dwelling on the island and range from small 2-bedroom cottages to expansive, sprawling homes with lots of bedrooms, situated on several acres.
There are also a limited number of condos in Kauai and most are located in the popular resort areas of Poipu, Princeville, and Hanalei, with several condo units also available in Lihue and Kapa'a. Prices range from about $9000 for a one-week per year timeshare unit to more than $2 million for penthouse locations on the ocean.
Vacant land is certainly at a premium in Kauai, and when it does become available, it's gobbled up quickly. Be prepared to pay at least $300,000 for a quarter-acre lot that may boast a mountain view but certainly not a view of the water.
If you're searching for real estate in Kauai, HI, if helps to have an experienced realtor keeping watch for homes or land that match your parameters. For your convenience, we've listed some links to local realtors who are well-versed in the island's investment real estate market.
See our Hanalei Real Estate webpage for information on property in beautiful Hanalei.
ReMax Kauai www.remaxkauai.com
Koa Properties Land and Homes www.koakauai.com
American Dream Realty www.adrhi.com/kauai-real-estate.asp
Blue Hawaii Properties, Inc. www.kauairealestate.net
Kauai Property www.kauaiproperty.com
Makai Properties www.makaiproperties.com