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

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

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 many possibilities. Some 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 ... 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. Bring your contractor and your offer on this amazing find! No Open Houses.

Home in kaimuki

$999,000 | 3 bd, 1 ba | 924 sqft

OPEN: 04/28, 2pm - 5pm

Home in kaimuki

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

OPEN: 04/28, 2pm - 5pm

Home in kaimuki

$1,739,000 | 5 bd, 3 ba | 2,152 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

Imagine yourself greeted each morning by the pristine white sands of Waikiki Beach and the sparkling swimming lagoon just steps from your doorsteps, where you can watch sunbathers, surfers, and sailboards in action. Completely and tastefully renovated, this 2-bedroom, 2-full bath corner residence boasts breathtaking 180-degree views in three directions! The residence features Fujitsu split AC, in-suite washer & dryer, Bosch stove, dishwasher, and gated, covered parking stall. Foster Tower's amenities include a heated pool, jacuzzi spa, exercise gym, and sauna. Ideally situated on Kalakaua Avenue in the heart of Waikiki, adjacent to the Marriott hotel, this condominium offers a walk score of 92, providing easy access to shopping, dining, entertainment, and more. Don't miss this rare opportunity to live the island lifestyle in one of Hawaii's most coveted locations.

Condo in foster tower

$1,518,000 | 2 bd, 2 ba | 1,138 sqft

This is the finest and most prestigious Hotel Residence in Hawaii. Relax and enjoy the ultimate resort life with Hilton’s LXR Hotels & Resorts signature services. Fully furnished and includes upscale appliances and granite counter-tops, kitchenware, bath amenities, and linens. Within the hotel is a state-of-the-art fitness center and spa. A very devoted concierge service and valet parking service. Unit #2122 is the on the 21st floor, ocean side corner unit with expansive ocean views.

Condotel in trump tower waikiki

$1,550,000 | 1 bd, 1 ba | 744 sqft

Perfectly positioned for beachside bliss, shopping, and gourmet dining. Enjoy panoramic ocean and mountain vistas from this high-floor 2-bdrm corner suite. Indulge in captivating sunset views, including Friday night fireworks. A lanai off the living-dining area invites you to savor the gentle Hawaiian breezes while soaking in the breathtaking scenery. This unit features a well-appointed kitchen, spacious bathrooms, and generous storage options. This sanctuary offers an array of luxurious amenities, including dining options, an infinity pool, gym, and spa. Do not overlook the luxurious 2-bedroom corner unit 2802 next door. Whether utilized as a private residence in paradise or enjoyed as a lavish resort getaway, indulge in unparalleled elegance and refinement. Must see!

Condotel in trump tower waikiki

$1,900,000 | 2 bd, 2 ba | 1,406 sqft

Elevate your lifestyle with stunning 180 degree views of the sea, mountains, and the foothills of Diamond Head from this high-floor corner unit. Relax on the lanai off the primary bedroom facing the ocean or the one overlooking the living-dining area with mountain views. Appreciate the well-equipped kitchen, sizable bathrooms, and liberal storage, including a walk-in closet in the primary bedroom. Just minutes from Waikiki Beach, offering dining options, an infinity pool, fitness center, and spa facilities. The two-bedroom corner unit next door, 2801, is also available. Great opportunity for family and friends. Experience the epitome of luxury hospitality. Perfect as a residence, a lavish retreat, or tailored to your lifestyle needs, offering sophisticated living spaces.

Condotel in trump tower waikiki

$1,950,000 | 2 bd, 2 ba | 1,403 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

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

Centrally located in Kahului, this 2-bedroom, 2-bathroom unit in the Kahului Ikena complex offers convenient living near key amenities. Situated close to the University of Hawaii Maui Campus, Maui Arts & Cultural Center, hospital, and major retail outlets, residents enjoy easy access to everything they need. The unit features a washer/dryer conveniently located on the 3rd floor, eliminating the need for trips to a communal laundry area. Stay comfortable year-round with the split air conditioning system, perfect for keeping cool during the summer months. With no unit located above, enjoy peace and quiet in this well-situated property. Comes with 2 assigned parking stalls. Call your favorite Realtor for a showing, Please do not disturb tenants.

Home in kahului ikena

$625,000 | 2 bd, 2 ba | 772 sqft

Well maintained Maui Lani Grand Fairways golf course frontage 4 bedroom and 3.5 bath residence with a large 2 car garage. Two of the bedrooms are en suites with one located on the ground floor and the other on the 2nd floor. The ground floor en suite offers ADA features. Central a/c on the 2nd floor and two split a/c systems on the ground floor. 28 owned PV panels (original net metering program) plus solar water heating. There is a back yard patio area with views of the W Maui mountains and the Dunes golf course. Seller's agent is related to the seller.

Home in Kahului

$1,695,000 | 4 bd, 4 ba | 2,684 sqft

Colorful and inviting, this 3 bed/2.5 bath home lives in a quiet, family-oriented cul-de-sac, in the popular Legends at Maui Lani. Upon entry, the spacious open-concept living room welcomes you home featuring bamboo window blinds, koa wood nautical style ceiling fan and artisan made central light fixture. A stylish weathered gray vinyl plank flooring is laid throughout the first floor. The kitchen is equipped with stainless steel appliances, white cabinets, pantry, and roomy counters are perfect for cooking and entertaining. The living room and dining area share this open space and are separated by a glass sliding door leading to the covered back lanai and pet-ready fenced-in yard. Complimentary colored carpeting leads up the stairs adorning the entire second floor, where all three bedrooms are located. Drenched in natural light, the spacious primary ensuite features a private balcony overlooking the backyard with mountain-top views of Haleakala to the East and Mount Kahalawai to the West. A short hall with a walk-in closet and double sinks lead to a separate shower and toilet area. Additionally located upstairs is a full bathroom and two bedrooms perfect for guests. All bedrooms feature updated ceiling fans which perfectly circulate trade winds for comfy open window slumber. An owned photo-voltaic system and central air conditioning throughout offer peace of mind. Centrally located on the island with easy access to a wealth of amenities including schools, parks, medical, golf course, shopping, and restaurants; this opportunity will not be available for long. With its unbeatable combination of comfort, convenience, and location, don’t miss your chance to make this home yours.

Home in maui lani

$1,175,000 | 3 bd, 3 ba | 1,473 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.