Single-Family Homes Sales Down

Hawaii Housing Market Report | September 2023

By REAL. Updated Oct 11, 2023. | Hawaii Housing Market Reports | 6 min. read

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In September 2023, Hawaii's housing market showed fewer sales for single-family homes. Additionally, condos took longer to sell across all islands. Nationwide, existing home sales hit a seven-month low due to higher borrowing costs, rising home prices, and fewer homes available for buyers. With mortgage rates staying above 7% since mid-August, it's become harder for people to afford homes. As a result, existing home sales dropped by 0.7% in a month and 15.3% over a year, according to the National Association of REALTORS® (NAR).

To give you a clear picture of the market, we collect data from trusted sources like Hawaii Information Service, HiCentral MLS, Ltd., and the REALTORS® Association of Maui. If you're interested in a buying into new developments, feel free to check out our monthly New Homes Hawaii Report.

Oahu Market Report

Oahu's single-family home market averaged over 200 sales in the past year, with 232 sales last month, down 16.5% year-over-year.

Oahu Housing Market Report - August 2023

Recently listed homes in Kaimuki

Exclusive Gated Lifestyle on a 7,200 SF Fee Simple Level Kaimuki Lot. Built in 2011, the 2 story main house has 5 bedrooms and 3 bathrooms. There's a total of 9 AC splits with 46 PV owned panels on net metering for low electricity usage. The legal Ohana 1 bedroom/ 1 bathroom plus a large den has 2 split ACs. Quality features are throughout this well-designed Home. Perfect for Your Secured Estate. Main home is vacant. Furniture has been removed

Home in kaimuki

$2,150,000 | 6 bd, 4 ba | 3,758 sqft

Located next to H-1 Freeway, on the Mauka/Chaminade side and on a short and less travelled street. 2bedroom/1 bath unit above garage. Flag lot with a collection of 3 fruitful mango trees. 20 panels of PV a s solar water too. Covered parking for 3 cars plus driveway too. Number of bedrooms and bathrooms do not match tax records.

Home in kaimuki

$1,100,000 | 5 bd, 3 ba | 1,012 sqft

OPEN: 05/05, 2pm - 5pm

Location, location, location! In Kaimuki, near Diamond Head and bordering Kapahulu. Good sized (5,000 sf) lot with large mango tree and a house with possibilities. Most would TEAR DOWN and build their dream home in this ideal spot. (Building Plans are available with the sale.) See if you can spot the view of Diamond Head in the photos and going up may provide an OCEAN view ... Others ... with imagination and skill ... would rebuild and renovate this once-charming cottage. Privacy & quietude is enhanced, down a flag lane from the main street. The lane is owned by this Property. What a great place to play around, away from a busy street! Only two other homes on the lane. Bring your contractor and your offer on this amazing find! Please do NOT enter the property without an appointment. Call your agent to schedule. Tax records differ.

Home in kaimuki

$999,000 | 3 bd, 1 ba | 1,169 sqft

Home in kaimuki

$1,699,000 | 5 bd, 3 ba | 2,118 sqft

Condos saw a 24.2% sales drop compared to September 2022, with 376 sales, marking a drop below 400 for the first time since January 2021.

Recently listed condos for sale in Honolulu

Rarely available EV CHARGER and STORAGE in Kakaako! Beautiful corner units with gorgeous mountain/city/ocean views. Fresh new paint, flooring in living area, mint condition! Aeo offers great location above Whole Foods, great amenities such as 2 pools, gym, BBQ area, Rec area and more. Walk to everywhere and enjoy the communities! Unit is in great condition but to be sold strictly "As Is".

Condo in ae'o

$1,090,000 | 2 bd, 2 ba | 867 sqft

Larger than many single-family homes, this marinafront 4/3 townhouse of over 1,900 interior sq. ft. has a rare bedroom and full bath on the ground level, open to a private fenced garden. The living and dining areas overlook the water and your own boat dock, newly rebuilt. Upgrades include floors, bathrooms, and an open-plan kitchen with plenty of storage. On the private second floor, you’ll find the large primary suite with gorgeous mountain and marina views, plus two more bedrooms and a bath. Colony Marina is a beautiful complex with a convenient pool and two assigned covered parking stalls near the townhouse. Come live the marina lifestyle today!

Townhome in colony marina

$1,395,000 | 4 bd, 3 ba | 1,914 sqft

Discover the essence of contemporary island living at Kalae, where modern architecture gracefully merges with the enchanting beauty of Hawai?i's natural world. Units will be furnished with Studio Becker cabinets, along with Wolf and Sub-Zero appliances. Crafted by the celebrated design team of Nicole Hollis, Ben Wrigley, and Don Vita, Kalae honors Hawai?i's rich architectural heritage and abundant natural beauty. One or more photos have been enhanced.

Condo in kalae

$2,284,000 | 2 bd, 2 ba | 1,206 sqft

Condo in kalae

$1,568,000 | 1 bd, 1 ba | 829 sqft

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Maui Market Report

On Maui, new listings increased by 12.6%, but pending sales dropped 26.8%. Inventory decreased by 17.3%, with a median price of $1,294,500, a 27.3% increase. Time on the market shortened by 6.3%, and there's a 12.1% increase in supply.

Maui Housing Market Report - August 2023

Featured Single-family homes in Kahului

Hollow tile home with Mt. Haleakala views with room to expand. Close to schools, hospital, shopping, parks, pools....

Home in 8th increment

$975,000 | 3 bd, 2 ba | 1,025 sqft

Home in kihei/wluku/kaha

$1,500,000 | 3 bd, 3 ba | 1,992 sqft

OPEN: 05/05, 11am - 2pm

Home in parkways

$1,500,000 | 3 bd, 3 ba | 1,992 sqft

Take advantage of this great opportunity to purchase this highly desired and rarely offered unit in all of Kahului Ikena. Ground floor 2-bedroom, 2-full bathrooms with 749 sq.ft. living area, split air conditioning in the living room, a private fenced yard overlooking the garden area and mature trees plus a full-size side by side washer and dryer in the storage closet on the spacious covered lanai. Features include new moisture resistant vinyl plank flooring with tiled kitchen and bathroom floors, new stainless range, vinyl plantation shutters in the bedrooms and mirrored closet doors. Pet friendly complex. Great central Maui location within walking distance to the UH Maui College, Ka’ahumanu shopping Center, Maui Arts & Cultural Center, medical facilities, Maui Lani Safeway and Keopuolani Park. Two assigned parking stalls #45 and #69C. Tenant occupied 48hrs notice required. Seller paid assessment in full $20,473.24. Fixed lease ends July 14, 2024. Tenant rent is $2500/mo. Breakdown: Maint Fee 587.44 and Reserve 167.04

Home in kahului ikena

$695,000 | 2 bd, 2 ba | 749 sqft

In Maui's condo market, new condo listings jumped 35.1%, but pending sales fell by 38.1%. Condo inventory increased by 22.7%. The median condo price is $789,500, down 1.3%. Time on the market for condos increased by 40.5%, and there's a substantial 130.8% increase in supply.