Hawai’i Life just released our Quarter 2, 2022 State of Hawai’i Real Estate Market Report. While Hawaii’s real estate market has faced many challenges this second quarter, such as rising interest rates and constrained inventory (to name a few), the report indicates that the seller’s market remains strong. Each of the island wide market reports show slight shifts from the previous quarter, but overall, we see healthy real estate activity throughout.
Q2 2022 Reveals Rise in Both Inventory and Price of Single-Family Homes: Market No Longer Scorching, but Still Historically Hot
There are currently 570 active residential listings on Oahu, an increase of 26.7% comparing Q2 2021 to Q2 2022. Number of single-family homes available for sale grows as inventory experiences upward shift.
There were 1,076 sales on Oahu in Q2 2022, a decrease of -13.2% over 1,239 sales in Q2 2021.
Homes under contract were 1,019, a decrease of -19.3% over the same period last year, in which 1,262 homes were under contract in Q2 2021.
Q2 2022 Reveals Limited Inventory and Rise in Price of Single-Family Homes: Seller’s Market Remains Hot
There are currently 103 active residential listings on Kauai, a decrease of -23.7% comparing Q2 2021 to Q2 2022. Inventory continues its downward trend as number of homes available for sale contracts steadily.
There were 152 sales on Kauai in Q2 2022, a decrease of -31.5% over 222 sales in Q2 2021.
Homes under contract were 113, a decrease of -50.2% over the same period last year, in which 227 homes were under contract in Q2 2021.
Q2 2022 Reveals Rise in Both Inventory and Price of Single-Family Homes: Market Remains Historically Hot
There are currently 251 active residential listings on Maui, an increase of 11.6% comparing Q2 2021 to Q2 2022. Number of single-family homes available for sale begins to increase as inventory experiences slight upward shift.
There were 294 sales on Maui in Q2 2022, a decrease of -20.5% over 370 sales in Q2 2021.
Homes under contract were 250, a decrease of -21.9% over the same period last year, in which 320 homes were under contract in Q2 2021.
Q2 2022 Reveals Replenished Inventory as Price of Single-Family Homes Drop
There are currently 547 active residential listings on Hawai‘i Island, an increase of 64.3% comparing Q2 2022 to Q2 2021. Number of single-family homes available for sale is rising as inventory experiences upward shift.
There were 753 sales on the Big Island in Q2 2022, a decrease of -9.7% over 834 sales in Q2 2021.
Homes under contract were 684, a decrease of -18.8% over the same period last year, in which 842 homes were under contract in Q2 2021.
Full report is available upon request
The full report for each island is available upon request. Do not hesitate to reach out to your Hawai’i Life realtor(s) to assist you in navigating the complex real estate market that we’re seeing this season. You may also contact us at hello@hawaiilife.com We’re here to help!
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