Molokai Market Snapshot – July 2025

July capped off the first seven months of 2025 with a mixed performance across the island’s three main property segments. Inventory remains elevated in both the single-family and land markets, keeping conditions in buyer’s market territory.

Condos saw sharp month-to-month pricing swings, but the changes are based on very few closed sales, making year-to-date trends more telling.

Single-Family Homes

• Inventory: 20 homes for sale in July, up 11.1% from June but slightly below last year’s level.
• New Listings: 5, a 150% increase from last month and equal to July 2024.
• Sales: 2 closings, half of June’s total and down 60% year-over-year.
• Pending Sales: 2, doubling from the prior month.
• Pricing: Average sold price per square foot rose slightly to $475, up 1.7% from June and 6.3% from a year ago. Year-to-date, the average is tracking above 2024 levels.
• Days on Market: Spiked to 387 in July, compared to a year-to-date average of 163 days.
• Months of Inventory: Increased to 10, signaling a solid buyer’s market.

What This Means:
Buyers have more leverage in the single-family market right now, with plenty of choice and more time to decide. Sellers should prepare for longer marketing times and be competitive with pricing to attract offers in a high-inventory environment.

Condos

• Inventory: 49 active listings, down 3.9% from June but up 14% year-over-year.
• New Listings: 3, one fewer than last month.
• Sales: Just 1 unit sold in July, down from 3 in June.
• Pending Sales: 3, a 200% increase from last month but still 25% below last year.
• Pricing: Average sold price per square foot jumped to $666, up 80% from June. Median sold price rose to $365K, a 62% increase from last month. Year-to-date averages, however, remain more moderate due to low sales volume.
• Days on Market: Fell to 79 in July, compared to a year-to-date average of 88 days.
• Months of Inventory: Soared to 49 months, a figure inflated by the very low number of sales rather than a surge in listings.

What This Means:
The condo market is the largest on Molokai in terms of active listings, but with few closings each month, pricing averages can swing sharply. Buyers should take advantage of the variety and negotiate based on property condition, location, and time on market. Sellers need to stand out with presentation and pricing that reflects today’s competitive landscape.

Vacant Land

• Inventory: 41 listings, down 8.9% from June and 6.8% from last July.
• New Listings: 4 in July.
• Sales: None closed, compared to 1 in June and 2 a year ago.
• Pending Sales: 1, matching July 2024’s level.
• Pricing: No July closings to set sold price benchmarks. Average list price stayed steady at $348K, close to its year-to-date average.
• Days on Market: Recorded as 0 in July due to no sales, compared to a year-to-date average of 188 days.
• Months of Inventory: 41, another figure shaped by low sales rather than an unusual supply level.

What This Means:
Land buyers have a wide selection and negotiating power, especially with slower sales activity. Sellers may need to be patient and focus on marketing the unique attributes and potential uses of their parcels to attract the right buyer.

Market Takeaway

Molokai’s July data reinforces the year-to-date story: more supply than sales activity in single-family homes and vacant land, giving buyers more leverage. The condo market — which has the largest number of active listings on the island — still shows sharp swings in average prices, largely because only a few sales close each month. Even in the most active segment, low monthly sales volume can create big percentage changes.

For buyers, this is still a favorable environment with room for negotiation and choice. For sellers, success depends on realistic pricing and standing out in a competitive field.

Thinking About Your Position in The Current Market?

If you’ve thought about buying, selling, or just getting a clearer picture of where things stand, I’d be happy to help. Whether now or further down the road, having solid, local insight can make a real difference.