The average price of a home on Kaua‘i has gone up more than 40% in the past year. That’s according to Locations Hawaii who also says the average selling price in May was nearly $2.4 million. As for securing affordable housing for local people, at least one veteran real estate broker contends it’s already too late.
Jim Edmonds and his wife Harvest moved to Kaua’i in 1985. Then in 1990, he became a real estate broker and started Emerald Isle Properties.
“Basically what I’m telling you is that the average person can no longer live here who has lived here for generations. They are being driven off the island,” he said.
Edmonds says a recent check showed the cheapest house on the North Shore of Kaua’i was $1,230,000.
“It’s old, it’s in bad shape, it does not have privacy. It sits on 7,000 square feet of land which is like a postage stamp.”
Yesterday Edmonds says, there were only 45 houses on the entire island under…