MARKET REPORTS

MAUI RESIDENTIAL SALES

Hawaii Island Residential Sales

Hawaiʻi Island’s housing market remained steady in April, with single-family home sales rising 22% year over year to 187 transactions and the median price increasing to $630,000 (+6% YoY). A notable shift occurred on the supply side, with new listings nearly doubling (+93% YoY), giving buyers more choice and supporting overall activity. Regionally, Kailua-Kona and Hilo continued to anchor demand, while more price-sensitive regions showed mixed performance, contributing to a more balanced market overall. The condo segment softened slightly, with sales down 9% year over year islandwide and pricing adjusting modestly (-8% YoY), alongside a slower pace of activity. Looking ahead, as mortgage rates trend upward and geopolitical uncertainty continues, the months ahead will be important in determining how buyer confidence holds as the market moves into the summer season.

Oahu Residential Sales

Oʻahu’s housing market showed steady activity in April, with single-family home sales totaling 230 transactions (-9% YoY) and condo sales reaching 379 (-1% YoY), reflecting a market that remains largely in line with recent trends. Median pricing held stable across both segments, with the single-family median at $1,166,000 (+1% YoY) and the condo median at $505,000 (-1% YoY). Notably, much of April’s closed activity was driven by contracts written earlier in the year when mortgage rates were at their lowest in late February, supporting increased buyer engagement at that time. As the market moves into the summer months, rising mortgage rates, broader geopolitical uncertainty, along with factors such as weather patterns and fluctuations in tourism, will all play a role in shaping overall market performance

Kauai Residential Sales

Kauaʻi’s housing market in April remained relatively steady, with 32 single-family home sales (-6% YoY) and 20 condo sales (-29% YoY), reflecting a lower-volume environment where small shifts in activity can influence overall trends. Median pricing increased modestly across both segments, with single-family homes at $1,135,000 (+2% YoY) and condos at $907,500 (+5% YoY), driven in part by the mix of properties sold. At the same time, new listings declined significantly, down 41% for single-family homes and 27% for condos year over year, tightening inventory and contributing to price stability despite softer sales activity. As with other islands, April closings reflect earlier contract activity, while a more recent softening in new escrows points to a potential shift in near-term demand. Looking ahead, rising mortgage rates, broader geopolitical uncertainty, along with factors such as weather patterns and fluctuations in tourism, will continue to influence overall market performance as Kauaʻi moves into the summer months.

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.