To reproduce: use the following code snippet and follow the steps from the gif file:

            PropertyStoreItem item1 = new PropertyStoreItem(typeof(string), "Test1", "Test1");
            PropertyStoreItem item2 = new PropertyStoreItem(typeof(string), "Test2", "Test2");
          
            RadPropertyStore store = new RadPropertyStore();
            store.Add(item1);
            store.Add(item2); 
            this.radPropertyGrid1.SelectedObject = store;

            this.radPropertyGrid1.ToolbarVisible = true;

Workaround: close the editor programmatically when the search box gets focus.

this.radPropertyGrid1.PropertyGridElement.ToolbarElement.SearchTextBoxElement.TextBoxItem.GotFocus += TextBoxItem_GotFocus;

        private void TextBoxItem_GotFocus(object sender, EventArgs e)
        {
            this.radPropertyGrid1.EndEdit();
        }