Honolulu, the state’s capitol city, hits the world record books as the most remote major city on earth. But its offerings paint it as anything but remote. This is a city that serves as the main gateway to the entire state and is a central location for both military defense and international tourism and business. It is a melting pot of cuisine, and traditions of east, west and Pacific cultures in one beautiful spot.
This busy, white-collar city is often synonymous with the City and County of Honolulu (C&C), but they are not the same. The City of Honolulu encompasses just the southeast coast of the island of Oahu (10 miles of shoreline & 4 miles inland) whereas the C&C counts the entire island.
Neighborhoods, towns, and districts within the city include Ala Moana, Downtown, Chinatown, Capitol District, Kaka’ako, Waikiki, and Manoa and many more. Thanks to proximity to main areas like downtown, and Ala Moana, with its the world-famous outdoor shopping center, every area in town is valuable real estate.
What is the condition of Hawaii’s housing market? The average home sale price over the last month from August 16, 2020, was $555,000 in Honolulu – down 11.2 percent from last year. Homes were on the market an average of 92 days, and homes have been selling for about 3 percent below the list price. These sales prices and longer days on the market are not typical of the Honolulu real estate market, but the coronavirus pandemic is certainly unprecedented in many ways.
While home sales prices in Honolulu may have decreased recently due to COVID-19, the Honolulu housing inventory has also decreased, making options for buyers limited and increasing the number of offers for homes for sale. Nekota explained, “Inventory is really, really low. It makes it even more challenging for buyers to purchase homes.”
While the real estate market in Honolulu is not as hot as typical times, many desirable housing options remain. Honolulu has a variety of real estate options, ranging from luxury penthouses in new high rise buildings like Waiea in Ward Village to affordably priced condos found in The Central Ala Moana to single-family home options in the Honolulu valley and hillside neighborhoods.
Honolulu Real Estate Statistics by Neighborhood
Honolulu includes the following zip codes: 96795, 96801, 96802, 96803, 96804, 96805, 96806, 96807, 96808, 96809, 96810, 96811, 96812, 96813, 96814, 96815, 96816, 96817, 96818, 96819, 96820, 96821, 96822, 96823, 96824, 96825, 96826, 96828, 96830, 96836, 96837, 96838, 96839, 96840, 96841, 96843, 96844, 96846, 96847, 96848, 96849, 96850, 96853, 96858, 96859, 96898. Because Honolulu is so large, Hawaii Kai, Kakaako, Kalihi, Salt Lake, and Waikiki have their own pages.