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

OPEN: 04/28, 2pm - 5pm

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 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! No Open Houses. Tax records differ.

Home in kaimuki

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

Beautiful 3 bedroom, 2 bathroom, 2 parking condo in Hawaii Kai. Open floor plan includes kitchen, living room and a dining space, 3 bedrooms, 2 full bathrooms with upgraded washer & dryer in the unit. Built in 2016, Hale Ka Lae offers resort amenities to enjoy a true island lifestyle, including a large pool with a hot tub, meeting rooms, business center, movie room, fitness center, dog area, EV chargers and more. Amazing location just blocks from shopping, banks, restaurants, and Costco. Schools, beaches and hiking are all within a short distance making this an ideal place to live. Furnishings negotiable. Owners are also selling storage unit S702 located on the same floor. Great additional space or create income by renting to a building resident. Please ask Agent for more information.

Condo in hale ka lae

$905,000 | 3 bd, 2 ba | 1,024 sqft

Discover an exciting new residential community built by kama‘aina for kama‘aina living. “Eligible purchasers” will have quick access to Honolulu’s most storied neighborhoods, including Kapahulu, Kaimuki, and Diamond Head. Applicants must meet all HHFDC eligibility and household income requirements with units subject to HHFDC’s Use, Sales and Transfer (Buyback) Restriction and Shared Appreciation Equity (SAE) Program restrictions.

Condo in kuilei place

$811,300 | 3 bd, 2 ba | 925 sqft

Condo in kuilei place

$712,100 | 2 bd, 2 ba | 706 sqft

Experience elevated island living at Kuilei Place. This new development offers a sustainable lifestyle, with stunning views and thoughtful design. Come inside this two bedroom residence to discover awe-inspiring interior details. The entertainer's kitchen with center island flows directly into the living area that is embraced with natural lighting from the floor-to-ceiling windows. The primary bathroom boasts a double vanity sink, a spacious shower, and an impressive closet for all your storage needs. Indulge in resort-style amenities, including a pool, two fitness centers, and 11 cabanas perfect for hosting memorable BBQ gatherings. The ground level offers five club rooms for relaxation and socializing, while the penthouse features private dining rooms and a karaoke lounge. This pet-friendly community goes above and beyond with playgrounds and storage options. The high-end Bosch appliances and two interior finishing packages add a touch of elegance to this exceptional home. Situated in a prime location, this neighborhood offers convenient access to shopping centers, schools, outdoor activities, and entertainment, making it an unparalleled place to call home.

Condo in kuilei place

$1,136,400 | 3 bd, 2 ba | 1,075 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.