MARKET REPORTS

MAUI RESIDENTIAL SALES

Hawaii Island Residential Sales

The Big Island real estate market is following national and statewide trends as sales activity decreased 25% year over year with only a slight increase from July (243) to August (257). Other key indicators including median sales prices remained relatively flat as both buyers and sellers continue to let the macro economic market conditions play out.

Kauai Residential Sales

The Garden Isle real estate market appears to be on island time as total sales, median prices, and new listings crept lower in August 2022. Most notably, the median sales price for single-family homes dipped below $1M to $975,000 for the first time since January. Collectively, only 85 properties were sold across the island while 69 new properties were listed for sale.

Hawaii Market Update

As we reach the midway point of 2022, Hawaii’s real estate market is beginning to show signs of slowing sales activity as record-high median prices, 6% mortgage interest rates, and concerns of an economic recession put pressure on the overall housing market. In reviewing this market report, it is important to consider where home prices were prior to the pandemic and where we are today. For example, the median home price of a single-family home on Maui was $750,000 in June of 2019, today it is valued at $1,255,000, an incredible 67% increase over the past three years. Learn more with our in-depth report comparing Q2 vs Q1 of this year and the nuances that make each neighborhood specials and unique.

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.