As your dedicated Hawai’i Life Realtor, it’s my pleasure to share some significant insights from our Quarter 3 Market Review. These findings offer a deep dive into Hawai’i’s ever-changing real estate landscape. I have attached the full report for your review.
Island Highlights
O‘ahu
O‘ahu’s market, despite a slower start this year, is showing encouraging signs. We observed a modest increase in median prices, reaching $1.05 million in Q3 2023. This demonstrates the resilience of our island’s real estate market, even amidst challenges.
Click here to read the O‘ahu Market Report.
Maui
Maui faced unique challenges due to recent events, leading to fluctuations in demand and supply. Despite these hurdles, Maui continues to be a resilient and sought-after destination, attracting those who appreciate its beauty and allure.
Click here to read the Maui Market Report.
Kaua‘i
Kaua‘i achieved a remarkable feat in Q3 2023, setting an all-time high for the median sold price of single-family homes, showcasing a 27.5% increase from Q3 2022. Despite a decline in sales, the island’s real estate market remains vibrant, reflecting its enduring appeal.
Click here to read the Kaua‘i Market Report.
Hawai‘i Island
Hawai‘i Island witnessed a rise in available homes while sales rates remained steady. This evolution presents unique opportunities for those interested in the serene landscapes of the Big Island, making it an exciting time for investment.
Click here to read the Hawai‘i Island Market Report.
Navigating the Future
As we navigate these dynamic trends, it’s crucial to stay well-informed. The number of available homes has seen a slight increase, accompanied by a longer time on the market. Yet, the high demand and limited supply continue to stabilize home prices, offering a balanced environment for both buyers and sellers.
Additionally, I wanted to update you on the current interest rates averages, sourced from our trusted lenders. For a 30-year fixed mortgage, the rate stands at 7.80%, while for a 15-year fixed mortgage, it’s 6.85%. This valuable information can guide your decisions in this ever-evolving real estate landscape.
I am here to assist you at every step of your real estate journey, ensuring you make well-informed decisions that align with your goals. If you have any questions or need further information, please don’t hesitate to reach out. Your trust in Hawai’i Life is deeply valued, and I look forward to helping you achieve your real estate aspirations.
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