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Single-Family Homes Sales Down

Hawaii Housing Market Report | September 2023

By REAL. Updated Oct 11, 2023. | Hawaii Housing Market Reports | 6 min. read
  1. OahuJump
  2. MauiJump
  3. Big IslandJump
  4. KauaiJump

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

OPEN: 04/21, 2pm - 5pm
Welcome to your new home in the heart of Kaimuki! This stunning brand-new CPR single-family home offers the perfect blend of modern living and convenience. Boasting 3 bedrooms and 2 bathrooms upstairs, including a spacious kitchen and a very generous living/dining room, it's designed for comfort and style. But the surprises don't end there! Downstairs, you'll find 2 additional bedrooms, 1 bathroom, and a versatile living/dining combo area complete with a convenient wet bar. Whether it's a peaceful retreat or a space to entertain guests, this home has it all. Located in the highly desirable Kaimuki neighborhood, you'll enjoy easy access to all the amenities Honolulu has to offer. From trendy eateries to lush parks, everything you need is just moments away. Don't miss your chance to call this exquisite property home. Schedule your showing today and experience the best of Hawaii living! Property tax and assessment value are not updated yet.
Home in kaimuki
$1,699,000 | 5 bd, 3 ba | 2,118 sqft
Save this listing
OPEN: 04/21, 2pm - 5pm
Welcome to your new home in the heart of Kaimuki! This stunning brand-new CPR single-family home offers the perfect blend of modern living and convenience. Boasting 3 bedrooms and 2 bathrooms upstairs, including a spacious kitchen and a very generous living/dining room, it's designed for comfort and style. But the surprises don't end there! Downstairs, you'll find 2 additional bedrooms, 1 bathroom, and a versatile living/dining combo area complete with a convenient wet bar. Whether it's a peaceful retreat or a space to entertain guests, this home has it all. Located in the highly desirable Kaimuki neighborhood, you'll enjoy easy access to all the amenities Honolulu has to offer. From trendy eateries to lush parks, everything you need is just moments away. Don't miss your chance to call this exquisite property home. Schedule your showing today and experience the best of Hawaii living! Property tax and assessment value are not update yet.
Home in kaimuki
$1,739,000 | 5 bd, 3 ba | 2,152 sqft
Save this listing
OPEN: 04/21, 2pm - 5pm
COMPLETELY RENOVATED! Welcome home to this spacious fully renovated house located in the historic Kaimuki district.  Enjoy prime location near Kaimuki Middle School, Kapiolani Community College, Kahala Mall, everyday errands to the grocery store, restaurants, and ease access to the H-1 freeway.   This home offers potential separate living spaces for an in-law suite which would be perfect for your family, multi-generational living or many different possibilities.  Currently configured as a 3-bedroom and 2-bathroom (3 bed / 2 bath) with an attached enclosed patio and multi-purpose room with wetbar and 1-bathroom.  Allows flexibility to convert the enclosed patio and multi-purpose room into a separate 1-bedroom and 1-bath . This home sits on a 5,025 sq ft lot providing ample parking (4+ cars) and space to accommodate family gatherings.  Renovations include the kitchen, wetbar, bathrooms, roof, electrical, electrical meter upgrade, plumbing, windows, siding, flooring, new appliances, split ac units and driveway.
Home in kaimuki
$1,525,000 | 3 bd, 3 ba | 1,673 sqft
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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

OPEN: 04/24, 10am - 12pm
If you've been looking at 2-bedroom condos, consider this terrific alternative on desirable Judd Hillside Road at the entrance to Manoa. This two bedroom, two bath, detached single family home with parking for one car shares a CPR lot with only one other house. There's no maintenance fee and just an annual Judd Hillside Community Association fee of $300 (subject to change, of course). You won't find that in a high-rise condo! The rooms are spacious; the great room is bright and airy. You can see Diamond Head, Rocky Hill, the ocean and coastline. There's wonderful closet and storage space in the bedrooms, baths, kitchen, and hallway. The home has been well cared for by the original owner and is move-in ready. Or, bring your interior design and landscaping ideas and make it fabulous. Located in the Noelani Elementary School district and minutes to the University of Hawaii-Manoa, Punahou School, Mid-Pacific Institute and other private schools, and Kapiolani Medical Center. Make this your home-sweet-home today! Sold "As Is". Please park on the road; do not drive up the driveway. FIRST OPEN HOUSE:  SUNDAY 4/21, 2:00-5:00.
Condo in judd hillside
$1,650,000 | 2 bd, 2 ba | 1,216 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

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.

Featured condos in Wailea


Big Island Market Report

In September, the Big Island recorded a total transaction volume of $121,686,056. Puna continued to lead the way with 78 single-family transactions.

Hawaii Housing Market Report - August 2023

Single-family homes in Hilo

Hawaii County's condo market saw a 6.11% decline YOY with a total transaction volume of $50,537,608.

Condos for sale in Kona

OPEN: 04/21, 12pm - 3pm
Live, Work & Shop like you're always on Vacation in Coastal Kailua-Kona, located directly on one of Kona's finest bathable beaches, steps away from Kona's hotel district and a bike ride away from downtown Kona, on Hawaii's Big Island: Kona By The Sea. Inside this STVR Permitable, Recently Renovated, Luxury 1280+ Sq Ft, Dual Primary Bedroom, 2 Bath Condo you'll enjoy the comforts you seek, from Quartz Countertops, Premium Cabinets & Appliances, to Central Air Conditioning, Tiled Flooring & New Premium Soft Pile Carpet. Large Floor to Ceiling Sliding doors open to the lushly landscaped Resort entrance, offering both privacy & island life views. Additional Sliding doors & an interior moveable wall reveals an expansive Primary Bedroom wing, featuring an En Suite Bathroom with an integrated vanity countertop. The second primary bedroom features its own En-Suite Bathroom for guest comfort. Stepping just outside, you'll be surrounded by a Professionally Managed, Lush Tropical Hawaiian landsaping with Resort amenities such as 24-Hr Security, 1 Heated Salt-Water Pool, 1 Hot Tub, 1 BBQ Area, 1 Parking Stall with plenty of Guest parking.
Condo in kona by the sea
$889,000 | 2 bd, 2 ba | 1,282 sqft
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Kauai

In Kauai's real estate market for September, there were 16 single-family homes sold, 3 less than last month.

Kauai Housing Market Report - August 2023

Recently listed homes for sale on Kauai

Condo purchases on Kauai saw a small increase of 2 from last month up to 26 units sold in September 2023, the same amount compared to September 2022.

Recently listed condos for sale on Kauai

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