Pangu team has just released a jailbreak sollution for iOS 8 – iOS 8.1 devices. Right now, the download link has been pulled a few minutes ago, mostly because of some early found bugs. But now it`s official: we will have a jailbreak for iOS 8 devices sooner than we expected.
Like the iOS 7 release, Cydia might not work properly. But saurik said that he is already working on a fix.
Here is the version released by Pangu team earlier. We recommend you to wait until a stabil release is available.
Update 2: You can now Download Cydia for iOS 8
Update: They just released version 1.0.1, that fixes previous bugs. Please not that you won`t have Cydia, because for now this is only a “console” jailbreak