Hawai‘i Real Estate Market: Wrapping Up Q3 and Moving Into Q4

As we close the third quarter of 2025, Hawai‘i’s housing market is showing signs of balance and new opportunities. Inventory is rising, giving buyers more choices, while homes are taking a little longer to sell compared to last year. Prices are adjusting differently on each island, creating unique stories across O‘ahu, Maui, Hawai‘i Island, and Kaua‘i.

O’ahu

On O‘ahu, the median single-family home price is $1,075,000, which is about six percent lower than last year. Condos are averaging $490,000, a small dip of four percent. The encouraging news for buyers is that there are more listings available and more time to make thoughtful decisions. For sellers, this means that preparation and presentation make a big difference.

The luxury market remains steady and resilient. Properties in the $3 million and $10 million-plus range continue to attract motivated buyers, especially when they offer something rare and unique.

Maui

Maui’s market has been shifting in meaningful ways. The median home price is $1,315,000, down slightly from last year, while condo prices have adjusted more significantly, averaging $700,000. Fewer new listings are coming to market, and the pace of sales has slowed.

An important development on Maui is the upcoming changes to short-term rental laws, which will phase out many rentals in certain zones by 2030. This will likely bring more homes back to the long-term market and reshape investment strategies.

For luxury real estate, demand is still present, particularly for exceptional properties that are well-priced. Buyers remain interested in Maui’s beauty and lifestyle, and unique estates continue to find new owners.

Hawai‘i Island (Big Island)

The Big Island continues to show a healthy, diverse market. The median single-family home price is $608,500, with condos at $575,000 and land at $55,000. There are more properties available than last year, and sales have increased slightly, giving both buyers and sellers reasons to feel optimistic.

The luxury market on the Big Island is vibrant. Properties that are priced correctly and showcase quality and lifestyle value are drawing strong interest. From coastal estates to unique upcountry retreats, the island offers a wide variety of opportunities for those seeking something special.

Kaua‘i

Kaua‘i remains one of the most sought-after markets in Hawai‘i. The median single-family home price is $1,212,500, with condos at $950,000 and land at $1,462,500. While sales have held steady, prices remain high, reflecting Kaua‘i’s enduring appeal.

Luxury buyers continue to be drawn to the island’s beachfront homes, private estates, and properties with stunning views. Despite market shifts, the desire to call Kaua‘i home remains strong, and thoughtfully priced listings are attracting meaningful attention.

A Statewide Perspective

Looking at the state as a whole, Hawai‘i is seeing more homes on the market and longer days before a sale is completed. This creates a healthier balance between buyers and sellers. Importantly, Hawai‘i’s unemployment rate remains very low at 2.7%, supporting continued confidence in housing demand.

Moving Forward

For buyers, this is a wonderful moment to explore options with greater freedom and less urgency. More inventory means more chances to find the home that truly feels right. For sellers, thoughtful pricing and careful presentationnsuch as staging and professional photography can make all the difference in standing out. For investors, keeping a close watch on policy changes, especially on Maui, will help guide smart decisions.

As always, I am here to guide you with clarity and aloha. The market is evolving, but with the right approach there are wonderful opportunities to be found. Whether you are considering buying, selling, or simply staying informed, I look forward to walking alongside you on this journey.

Sources

Honolulu Board of REALTORS®, REALTORS® Association of Maui, Hawai‘i Life Market Reports, and the State of Hawai‘i DBEDT