MARKET REPORTS

MAUI RESIDENTIAL SALES

Hawaii Island Residential Sales

Hawaiʻi Island’s August market once again highlighted the importance of looking beyond island-wide statistics to individual market areas. Single-family home sales island-wide totaled 149 (-10% YoY), while the median price increased to $590,000 (+13%) and homes moved more quickly at 37 median days on market, with North Kona (+50% YoY) and Keaʻau (+26%) leading activity. The condo market slowed more noticeably, with just 30 sales (-19% YoY), the lowest monthly total in two years, and a median price of $496,500 (-13%). Much of the decline was concentrated in Kailua-Kona, where condo sales fell 45% YoY to 12 transactions and the median declined 14% to $496,500, while higher-end Kamuela moved in the opposite direction with 7 sales (+40%) at a $2.695 million median (+68%). With relatively few condo transactions island-wide, these contrasting local market trends continue to have an outsized influence on Hawaiʻi Island’s overall metrics.

Oahu Residential Sales

Oʻahu’s housing market reflected a typical late-summer cooling in August, with 272 single-family home sales (+3% YoY) and 380 condo sales (-7% YoY), while pricing remained within recent ranges. The single-family median rose to $1,210,500 (+9% YoY) and the condo median held relatively steady at $524,000 (+1% YoY). Properties also moved faster than last year, with median days on market declining 19% for single-family homes and 24% for condos, pointing to continued buyer engagement despite the seasonal moderation in overall activity.

Kauai Residential Sales

Kauaʻi’s housing market cooled seasonally in August, with single-family home sales holding even with last year at 28 transactions, while fewer higher-end sales contributed to the median price declining 8% YoY to $1.088 million. The regional mix played an important role, as Kawaihau led activity with 11 sales (+83% YoY) at a $1.1 million median, while higher-priced Kōloa recorded seven sales (-42%) and Hanalei just four. Condo activity was more limited at 15 sales (-38% YoY), though the median rose 28% to nearly $1 million, largely influenced by higher-priced transactions in Princeville and Kōloa. With relatively small transaction counts across Kauaʻi, August once again illustrates how shifts in where—and at what price points—properties sell can meaningfully influence island-wide metrics.

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.