MARKET REPORTS

MAUI RESIDENTIAL SALES

Hawaii Island Residential Sales

Hawaiʻi Island’s housing market remained balanced in July, with single-family home sales island-wide increasing to 178 transactions (+9% YoY) and the median price rising modestly to $547,000 (+4% YoY), while homes sold more quickly than a year ago. The condo market recorded 42 sales (-2% YoY), though the island-wide median price surged to a record $838,750 (+35% YoY). Rather than reflecting broad price appreciation, the increase was driven by a greater concentration of higher-priced resort and luxury condo sales, particularly in Waikoloa, where the median reached $1.1 million (+144% YoY), and Kamuela, where the median climbed to $2.1 million (+50% YoY). Meanwhile, Kailua-Kona remained the island’s largest condo market, illustrating how localized shifts in luxury inventory can significantly influence island-wide metrics on Hawaiʻi Island.

Oahu Residential Sales

Oʻahu’s housing market remained balanced in July, with single-family home sales rebounding from June to 302 transactions (+20% YoY) while the median price held at $1,203,500 (+9% YoY). The condo market also remained healthy, with 432 sales (+7% YoY) and the median price rising to $519,500 (+3% YoY). Buyers continued to act quickly across both segments, with homes spending relatively little time on the market despite elevated mortgage rates, reflecting steady demand supported by constrained inventory and broad participation across the island.

Kauai Residential Sales

Kauaʻi’s housing market returned to more typical seasonal patterns in July following June’s luxury-driven activity, with both single-family homes and condominiums posting results that remained well within recent historical ranges. Single-family home sales island-wide held steady at 34 transactions, matching last July, while the median price increased modestly to $1.235 million (+2% YoY) and median days on market improved to 29.5 days (-22% YoY). The condo market recorded 17 sales (-11% YoY) with the median price moderating to $845,000 (-11% YoY). Regionally, Kawaihau led single-family home activity with 11 sales (+38% YoY), while Kōloa continued to anchor the luxury market, posting a $3.1 million single-family median (+76% YoY) and a $3 million land median. Overall, July reinforced the importance of viewing Kauaʻi through a local market lens, where changes in the mix of luxury and resort properties can significantly influence island-wide statistics from month to month.

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

With 2023 officially in the books, a word best used to summarize the overall Hawaii real estate market might be “resilience.” Despite many headwinds that led to softening consumer confidence and growing concerns about affordability across the islands, median prices held strong, properties continued to sell, and fears of a larger economic recession waned as the year progressed.

Now, as we head into the new year with mortgage interest rates on the decline, be on the lookout as 2024 is poised to present a variety of opportunities for both buyers and sellers.

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.

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.