Molokai Market Snapshot – Q2 2025

At the halfway point of 2025, Molokai’s real estate market continues to send some mixed but meaningful signals. Prices in key sectors are holding or climbing, even as the pace of sales slows. For buyers, that could mean more leverage. For sellers, it means pricing and preparation matter more than ever. This can’t be overstated.

Here’s a look at where things stand through the end of June.

Molokai Market Snapshot – Q2 2025

Data through June 30, 2025

Single-Family Homes

• Median Sold Price: $540,000 (up 11.1% year-over-year)
• Average Price per Sq Ft: $411 (up 17.4% YOY)
• Sold Listings: 14 (down from 22 in 2024)
• Average Days on Market: 131 (was 62 last year)
• Sold-to-List Price Ratio: 95%
• Months of Inventory: 7.7 (up from 6.3 last year)

What this tells us:
The inventory of homes on the market is growing, while sales are slowing, pushing months of inventory closer to what economists call a “balanced market” (typically 5–6 months). At 7.7 months, we’re leaning slightly toward a buyer’s market. That said, the jump in prices suggests demand is still healthy for well-priced, move-in-ready homes. Sellers just need to be patient, and strategic.

Condos

• Median Sold Price: $222,000 (down 19.3% YOY)
• Average Price per Sq Ft: $390 (down 13.3% YOY)
• Sold Listings: 11 (up from 9 last year)
• Average Days on Market: 89
• Sold-to-List Price Ratio: 95%
• Months of Inventory: 25.5 (down from 30.0 in 2024)

What this tells us:
Condos remain the most inventory-heavy segment on Molokai. Even with slightly more units selling this year, we’re still looking at over two years’ worth of condo supply at the current pace, signaling a clear buyer’s market. Prices are adjusting accordingly, but serious buyers may find opportunity here, especially if interest rates ease.

Land

• Median Sold Price: $180,000 (up 140% YOY)
• Sold Listings: 6 (vs. 5 in 2024)
• Average Days on Market: 188
• Sold-to-List Price Ratio: 88%
• Months of Inventory: 38.6 (down from 55.2 last year)

What this tells us:
Land sales are ticking up, and prices are way up, but again, we’re dealing with small numbers. The big story here is supply: with nearly 39 months of inventory, land is by far the slowest-moving part of the market. That’s not new for Molokai, where infrastructure, water access, and building timelines are all real factors. Still, a few recent sales show there’s renewed interest, especially for affordable ag lots or parcels with entitlements already in place.

What Does This All Mean?

We’re in a transitioning market. Prices in some categories are rising, but so is inventory. Days on market are stretching, and momentum is uneven depending on what you’re buying or selling.

In broader terms:

• Single-family homes are stabilizing toward balance.
• Condos are soft but active.
• Land remains long-game territory.
• And remember: Molokai’s market is small. Just a few sales one way or the other can shift the stats dramatically.

Statewide Market Update

For a broader look at Hawaii’s residential real estate market, check out Hawaii Life Q2 2025 Real Estate Market Report.

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.