The Toffees have endured a dismal start to the season, collecting just three points from their opening six league games to leave them rock bottom of the table.
However, Kenwright feels his club's position in the standings is not a fair reflection of the quality of football his players have contributed this term.
And the chairman says David Moyes' side, who are without a win so far this league campaign and crashed out of the Carling Cup to League One side Brentford, are stunned by their current predicament.
"I think we're in a state of shock rather than a state of crisis," Kenwright told Sky Sports News. "Naturally in the club itself there's a real feeling of almost bewilderment at where we're at, especially if you've seen how we've played for most of the season.
"In terms of being beaten - i.e. there was no way out of that one - I've only seen us beaten like that once really and that was against Newcastle in the second half when we didn't look like we were going to win.
"In all the other games, Villa away, Fulham away, you just thought 'we're bound to get the goal, we're bound to do it'.
"We are playing good football, but we are really in a state of bewilderment."
The chairman admits the club's current situation is even more shocking given the confidence with which they embarked on the season.
"We did go into this season with high hopes which, to be honest, Evertonians don't normally do," he said.
"We were all set for what we thought, for the first time in a long long time, would be a season when hopefully we could deliver what Evertonians want and what Evertonians should get, and there was a real confidence there."
Kenwright insists that positivity has not waned despite the Toffees' disappointing start, and says the players remain optimistic of turning things around following their goalless draw at Fulham on Saturday.
"I don't think it's confidence (that's the problem)," he added. "There's an absolute knowledge in the squad of where they are, nobodies hiding from that.
"But there's also a confidence that they will get out of it. Of course they're feeling bewildered by it all, but they know they'll get out of it.
"When they went out onto that pitch against Fulham on Saturday, that wasn't a team lacking in confidence. They played some terrific, sweet football but they couldn't put the ball in the back of the net."
Despite sitting bottom of the table, Kenwright insists Everton will not be happy with simply surviving in the top flight this term.
"We don't like being there, we hate being down there," he added. "I can only say, as a fellow fan, I don't believe we will be down there much longer.
"The name of the game isn't 'get out of relegation' this season, believe me. The name of the game is 'get up there', towards the European places. And I know that's what everyone at Everton, especially the manager, is aiming for."
Source: Team Talk
Source: Team Talk