Is Honolulu, HI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Honolulu is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Honolulu was a Seller's Market.

Key Takeaway

Honolulu is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Honolulu, HI

How much do homes in Honolulu, HI cost?

Median Sold Price

$646,916

$703/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$308(0%)

Key Takeaway

The sold price of homes in Honolulu has remained the same since last year.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $418.8K$415K
-0.9%
2 $615K$608.6K
-1.0%
3 $1.1M$1.1M
+3.5%
4 $1.5M$1.4M
-6.5%
5+ $1.4M$1.5M
+1.0%

Summary: Honolulu housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.9%, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 3.5%, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes increased by 1%.

Median Sold Price Compared To Nearby Cities

Honolulu
0%
Ewa
-0.3%

Housing Supply in Honolulu, HI

How many homes are available in Honolulu, HI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1,5841,722+8.7%

Summary: The Honolulu real estate market had 1,722 homes for sale in February 2024, a 8.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 513566
+10.3%
2 617684
+10.9%
3 225227
+0.9%
4 97111
+14.4%
5+ 132134
+1.5%

Summary: The Honolulu housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.3%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 14.4%, and 5+ bedroom homes increased by 1.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
204216+5.9%

Asking Price vs. Sold Price

123 Homes Were Sold
Under Asking

50 Homes Were Sold
At Asking

43 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Honolulu, you may be able to get a good deal. 56.9% of homes here sold below asking price last month.

Summary: A total of 216 homes were sold or pending in Honolulu in February 2024, up by 5.9% month-over-month. Of the 216 sold homes, 57% were sold under asking, 23% were sold at asking, and 20% were sold over asking.

Days on Market for Honolulu, HI

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Honolulu, HI

Nearby Markets to Honolulu, HI

What housing markets are near Honolulu, HI?