MARKET REPORTS

MAUI RESIDENTIAL SALES

Hawaii Island Residential Sales

Slower market conditions persisted in November, with days on market increasing for both single-family homes and condos. Other key market indicators remained steady and consistent with previous months. The median sales price of a single-family home along West Hawaii Island was $1,110,000, while East Hawaii Island reached a new high of $467,500. Serious buyers remain active, presenting opportunities for well-prepared sellers. Those selling or considering selling should remain patient, as extended days on market have allowed buyers to price compare properties while regaining some negotiating leverage, fostering a balanced market environment.

Kauai Residential Sales

It was the slowest month in over 10 years for Kauai real estate, with combined single-family home and condo sales totaling just 39 units. However, this is not cause for concern but rather a reflection of the limited inventory of homes for sale and a market awaiting overall direction post-election, along with mortgage rates that have not declined as quickly as many anticipated. Buyers should stay prepared to act swiftly on properties that align with their needs and budget, while sellers can influence the speed of their sale by how competitively they price their property.

Oahu Residential Sales

Across the housing market, slower conditions prevailed in November, with 160 fewer sales than in October—a 22% decline. This drop is fueled by a lack of new inventory for sale and higher-than-expected mortgage interest rates. While the slower pace of sales has slightly increased the days on market, the months of remaining inventory have remained flat. Overall, the market remains balanced for both buyers and sellers.

Hawaii Market Update

In this report you will find 2024 year to date sales trends across the Hawaiian Islands, including our latest luxury listings!

Hawaii Market Update

As we cross the midpoint of 2023, the Hawaii real estate landscape continues to adapt to higher mortgage interest rates and tighter inventory levels. While the year started off sluggish due to a spike in mortgage interest rates that edged out many prospective buyers, the market has since shown signs of rebounding. 

With so few homes for sale across the islands, sellers remain in control of the market. However, properties that are priced too high or do not present well are seeing an increase in days on market. 

Hawaii Market Update

After the pandemic year of 2020 and the record-setting rebound market of 2021, the past twelve months brought a much-anticipated correction to a red-hot housing market in 2022. For those looking to purchase property in the year ahead, it is important to not get distracted by the big numbers reported every month. In every real estate market, there are opportunities. By understanding the local nuances of each neighborhood or condo complex, having your finances in order, and staying committed to your goal, Hawaii homeownership is still achievable. 

Hawaii Market Update

As anticipated, Hawai’i’s real estate market has returned to
“pre-pandemic” levels as sales activity has resumed a more
moderate pace and median sales prices have retracted
from all-time highs of the last two years. Even though the
market has slowed — in part to rising mortgage interest
rates and concerns about an economic recession — a
general lack of inventory continues to favor sellers. Buyers,
however, are beginning to take back control as days on
market and the overall number of price reductions have
both increased in recent months.

Hawaii Market Update

Across the globe, the Hawaii luxury home market has consistently ranked among the premier destinations for individuals seeking the ultimate island lifestyle while maintaining access to modern conveniences, limitless activities, and privacy. In the wake of the recent COVID-19 pandemic, the Hawaii luxury home market was red hot as many flocked to the islands to embrace all Hawaii has to offer. Subsequently, between March 2020 and June 2022, there were 1,874 luxury home sales totaling $7.984 billion.

Learn more about 2022 sales trends across Maui, Hawaii Island, and Kauai, and browse all new and active listings year-to-date with this in-depth luxury summary.

Hawaii Market Update

Inventory, inventory, inventory. Across the Hawaiian Islands, the residential real estate market continues to remain extremely competitive as the lack of properties for sale has driven median sales prices for single-family homes and condos to all-time highs throughout the first quarter of 2022. Now into the fourth month of the year, the story remains the same: those looking to buy should be ready to move quickly with a strong offer, and with properties selling as fast as they come on the market, the time to sell is now.