MARKET REPORTS

MAUI RESIDENTIAL SALES

Hawaii Island Residential Sales

Hawaiʻi Island’s housing market stabilized in June, with single-family home sales totaling 180 transactions (-6% YoY)and the median price rising to $613,500 (+2% YoY), a rebound from May’s softer pricing. Activity remained shaped by regional mix, with Pāhoa continuing to lead volume at 24 sales, while North Kona anchored higher-price activity with 40 sales and a $1.23 million median. New single-family listings declined 22% year over year, helping support steadier pricing even as total sales eased slightly. The condo market also showed improvement, with 44 sales (+2% YoY)and median days on market falling to 39.5 days, down sharply from May and below last June’s pace. North Kona drove much of the condo activity with 32 sales (+23% YoY), while South Kohala remained softer at 9 sales (-18% YoY), with pricing influenced by a smaller and more varied mix of units sold.

Oahu Residential Sales

Oʻahu’s housing market remained balanced in June, with single-family home sales totaling 271 transactions (-7% YoY)while the median price climbed to $1,225,000 (+10% YoY). The condo market continued to show steady momentum, with 441 sales (+5% YoY) and the median price rising to $557,000 (+21% YoY). Buyers remained active across both segments, as single-family homes sold in a median of just 14 days (-42% YoY) and condos averaged 35 days on market, reflecting continued demand despite higher mortgage rates. Inventory also remained relatively constrained, particularly for single-family homes, contributing to a competitive market as Oʻahu entered the second half of the year.

Kauai Residential Sales

Kauaʻi’s housing market reflected two distinct trends in June, with single-family homes selling more quickly at higher price points while the condo market moved at a more deliberate pace. Single-family home sales island-wide totaled 29 (-34% YoY), though the median price climbed to $1.6 million (+29% YoY) and median days on market fell to just 19 days (-42% YoY), indicating that well-positioned homes continued to attract buyers despite lower transaction volume. The condo market recorded 19 sales (-17% YoY) with the median price rising to $1.15 million (+61% YoY), tying the highest island-wide condo median on record, last reached in July 2023. Median days on market increased to 146 days, the longest in several years, reflecting a more selective buyer pool. Regionally, Kōloa and Hanalei continued to support higher-end condo pricing, while Kawaihau led single-family sales with eight transactions, illustrating how localized activity and a relatively small number of transactions can significantly influence Kauaʻi’s 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.