Single-Family Homes Sales Down

Hawaii Housing Market Report | September 2023

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

OahuJump
MauiJump
Big IslandJump
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

Conveniently located in the heart of Kaimuki near schools, parks, shopping, yoga studios, and many new and trendy eateries, this well maintained larger six bedroom home offers the flexibility to accommodate growing families with spacious options for Ohana-style living.

Home in kaimuki

$2,000,000 | 6 bd, 5 ba | 3,420 sqft

Welcome Home Hawaii presents, this rare find with so much potential. Location Location Location! Amazing views, Drive by and appreciate the charming homes, lots of great character. Two homes just waiting for your unique remodeling ideas. Back home features three bedrooms & one bathroom, kitchen, dining area with all original red wood, real wood floors and so much more room to add on. Front home features a great sized two bedrooms, bathroom, upgraded kitchen, new flooring, High ceilings. Two covered laundry areas Views all the way to Koko Head from front home lanai. An original sliding enclosed garage just waiting for a new warm transformation. Seller has made improvements as requested by current tenants. A Must-see property do not miss your opportunity to live work and play near Kahala Mall, Diamond Head Be a part of all the Waikiki Kahala action in a great neighborhood! LOT B POR LOT 13 & 14 BLK 86 NEW OCEAN VIEW TRACT FP 37 5,000 SF DES

Home in kaimuki

$1,528,000 | 5 bd, 2 ba | 1,402 sqft

Home in kaimuki

$823,000 | 2 bd, 2 ba | 960 sqft

Home in kaimuki

$1,123,000 | 4 bd, 2 ba | 1,325 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

Breathtaking ocean and city views from this spacious well-maintained 2 bedroom, 2 bathroom, and 2 covered parking unit in Moana Pacific. This spacious unit is 1,113 interior sq. ft. This unit features vinyl plank flooring and an open kitchen with granite countertops and stainless-steel appliances. This building features resort-like amenities, including a recreation room, tennis court, exercise room, BBQ, area, putting green, pool, children’s playground, security, and more. Conveniently located near Waikiki, beaches, Downtown, Ward Village & Ala Moana Shopping Center with endless shopping, restaurants, and entertainment.

Condo in moana pacific

$998,000 | 2 bd, 2 ba | 1,113 sqft

Enjoy great view at HIGHER FLOOR in 5 Star Trump Tower Waikiki Hotel/Condo! This 2 bedroom +den unit comes fully furnished with all linens & Kitchenware. Top notch amenities include infinity pool, concierge, valet parking and a full service spa. Including in purchase are upscale appliances, granite counter tops and travertine tile flooring.

Condotel in trump tower waikiki

$2,550,000 | 2 bd, 3 ba | 1,665 sqft

OPEN: 12/03, 2pm - 4pm

Great price for this extensively remodeled unit at Foster Tower. Enjoy modern and posh upgrades! Awaken to the serene sounds of the Pacific in this Hawaiian oasis and witness nature's breathtaking spectacle as vibrant hues of aqua, turquoise, indigo, and violet dance upon the tranquil sea. This spacious 1,233 square foot unit boasts a seamless retreat across from renowned Waikiki Beach. Immerse yourself in a move-in-ready corner unit with abundant windows capturing refreshing cross-breezes. With sleek ceramic floors and stainless steel kitchen and appliances, this residence caters to the most discerning buyers. Revel in the versatility of an open floor plan with sliding glass wall dividers, potentially transforming two bedrooms into a grand unified one bedroom space. Enjoy the reassurance of 24/7 security, a personal storage locker, pool, sauna, and a well-appointed fitness center. More than one photo has been enhanced. High owner occupancy!

Condo in foster tower

$1,495,000 | 2 bd, 1 ba | 1,233 sqft

Condo in sky ala moana west

$1,399,000 | 2 bd, 2 ba | 901 sqft

Like what you're reading?

By registering, you agree to our Privacy Policy.

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

Without a doubt you will be impressed when viewing this very beautifully updated and immaculately maintained air conditioned home! Remodeled with a contemporary open floor plan featuring a spacious living room, a guest bedroom, full bathroom, dining area and kitchen all on the ground level. The second floor has the very large primary bedroom with en-suite double vanity bathroom, another guest bedroom and the laundry room. The big bonus it that there is another full house connected by a wide hallway consisting of 3 more bedrooms with 2 full baths, a living room dining area and kitchen. Fantastic way for 2 families to live together so comfortably on the same property with two separate laundry areas with full size washer/dryer. The yard is nicely groomed and low maintenance. The property is ideally located on a street with minimal traffic and so convenient to all your necessities. The hospital and other medical facilities close by. It’s just minutes from schools, grocery stores, shopping malls, the stadium, University of Hawai’i Maui campus, the Arts & Cultural Center, airport and even the harbor. Definitely worth taking the time for a tour of this exceptional property! Easy to view.

Home in kahului

$1,800,000 | 6 bd, 4 ba | 3,092 sqft

Welcome home to a centrally located main residence and cottage in Kahului; the main residence is a three bedroom + one bathroom 1,405 square feet situated on a large 9,861 square foot lot with some remodeled kitchen work and newer appliances. One split system and one window a/c in main residence. The 390 square foot ohana has its own private driveway and carport all on a private cul de sac. Super close to all amenities, shopping, schools, dining, golfing, beaches and minutes from OGG!!!

Home in 12th increment

$1,300,000 | 3 bd, 1 ba | 1,405 sqft

BEAUTIFUL MOVE-IN READY HOME IN MAUI LANI!! Highly upgraded and partially furnished home close to schools, shopping, restaurants, medical, Central Maui Regional Sports Complex, and everything else! This immaculate property has leased PV, luxury vinyl flooring throughout, upgraded appliances, built-in garage storage, and much, much more! Very well kept and ready for you! This one will go fast, so contact your favorite Realtor and see this one quick!

Home in new traditions

$995,000 | 3 bd, 2 ba | 1,331 sqft

Indulge in the awe-inspiring beauty of West Maui Mountain vistas from the moment you enter this exquisite house. The oversized primary bedroom provides a daily retreat with breathtaking mountain views, offering a private sanctuary. Whether you're savoring your morning coffee or stargazing before bedtime, this home seamlessly connects you with nature, all while being conveniently located in Kahului town. Situated alongside the Maui Lani golf course, this single-story gem awaits its fortunate owner. Embrace the opportunity to call this extraordinary property your home!

Home in maui lani grand fairways

$1,500,000 | 3 bd, 3 ba | 2,273 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.