Real estate trends in Hawaii | Sellers | Buyers | Investors | The best and worst of Hawaii | Hawaii resources
Hawaii real estate trends (May 2022)
How is the real estate market in Hawaii? | |
|---|---|
🏠 Average home value: $875,318 | 📈 1.66% home value increase month over month |
💰 Median sale price: $905,800 | ⏳ 57 days on the market |
🔑 Homes on the market: 2,358 | 📆 0.8 months of housing inventory |
🏦 30-year mortgage rate: 2.86% | 💵 Average income: $58,700 |
State of the market: B- | |
Hawaii has long been one of the most expensive markets in the U.S., and that isn't changing. However, listing prices are below home values and time on market is increasing, which suggests there’s little buyer demand. | |
*Data last updated May 2022 | |
More than 10 million tourists visit Hawaii during a typical year, but the islands are also home to more than 1.4 million residents who live there year round.
The Aloha State is known for its iconic beaches, lush rainforests, and delicious local foods like sweet shaved ice, poke, and Spam musubi.
Though Hawaii is known for its eight major volcanic islands, the archipelago actually spans a total of 137 islands in all.
If you're thinking of buying or selling in Hawaii, these Hawaii housing predictions and stats can help you make an informed decision.
Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!
Selling a home in Hawaii
Hawaii real estate market forecast for sellers | |
|---|---|
⏰ Homes are selling 7 days faster than the annual average | 💰 Homes are selling for $29,671 more than the annual average |
💸 Average listing commission: 2.60% | 💸 Average buyer's commission: 2.60% |
How to sell a home in Hawaii
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in Hawaii (June 2021 Rankings)
- 8 Steps to Selling a House in Hawaii
- How to Sell a House By Owner in Hawaii (2021 Update)
- 5 Best Hawaii Flat-Fee MLS Companies in 2021
- We Buy Houses for Cash Companies in Hawaii (2021 Rankings)
Cost to sell a home in Hawaii
- What's The Average Hawaii Real Estate Commission In 2021?
- The Ultimate Guide to Hawaii Real Estate Taxes
Buying a home in Hawaii
How much home you can buy with $300,000 in... | |
|---|---|
🏠 Honolulu: 430 sq ft | 🏡 Kahului: 313 sq ft |
🏡 Hilo: 685 sq ft | 🏠 Kapaa: 322 sq ft |
- How to Save with a Home Buyer Rebate
- 8 Definitive Steps to Buying a House in Hawaii
- The 5 Most Affordable Places to Live In Hawaii
- The Best Time to Buy a House in Hawaii
Investing in Hawaii real estate
- Top 5 Best Real Estate Investment Markets in Hawaii
- The Ultimate Guide to Flipping Houses in Hawaii
- A Beginner's Guide to Buying an Apartment Building
Best of Hawaii
Each month, we compare cities in Hawaii based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.
Most Affordable Cities in Hawaii |
|---|
1. Hilo |
2. Urban Honolulu |
3. Kapaa |
Ready to buy a home in Hawaii? Eligible buyers get cash back with Clever!
Worst of Hawaii
Each month, we compare cities in Hawaii based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.
Least Affordable Cities in Hawaii |
|---|
1. Kaneohe |
2. Pearl City |
3. Kahului-Wailuku-Lahaina |
Hawaii resources
- Hawaii Department of Commerce and Consumer Affairs Real Estate Branch
- Hawaii's real estate license verification
- Hawaii's real estate agent code of conduct
- Hawaii's disclosure forms
- Transfer taxes in Hawaii
- Home buying assistance programs in Hawaii
Frequently asked questions about Hawaii real estate
Currently, it is a buyer’s market in Hawaii. The demand for real estate in the state is dipping, causing sales prices to fall and leaving properties on the market for longer than normal. However, each city and town is different, which is why you should speak with a top real estate agent first to get a better grasp of the local trends in the state.
Yes, Hawaii is a great state to invest in real estate, especially in cities like Honolulu where there's always a demand for housing and vacation rentals. Before investing, however, you need to do some research and plan out your finances and learn about the best neighborhoods to buy in. Learn more about it in our guide to real estate investing.
Although real estate has always been more expensive in Hawaii than most other states, the dip in demand makes it a good time to buy right now. Listing prices are down and homes are sitting on the market which can allow buyers to negotiate a great deal. To make the buying process as easy as possible, work with a top real estate agent to help you find the perfect deal.
Methodology
Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, S&P Global, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.