top of page
exp BLOG PAGE 2.png
FROM MY DESK TO YOUR'S

HOW MUCH DOES A HOUSE COST IN HAWAII?


The cost of a house in Hawaii varies significantly based on several factors, including the island, neighborhood, property size, and type. As of 2024, here is a breakdown of median home prices by island:

  • Oahu: The median home price is approximately $1,050,000. Oahu, home to Honolulu, offers urban amenities, job opportunities, and attractions, contributing to higher real estate prices.

  • Maui: The median home price is around $950,000. Maui's beautiful beaches, luxury resorts, and desirable climate make it a sought-after destination for homebuyers.

  • Kauai: The median home price is about $825,000. Known as the "Garden Isle," Kauai offers lush landscapes and a quieter lifestyle, appealing to those seeking tranquility.

  • Big Island (Hawaii Island): The median home price is roughly $500,000. The Big Island offers more affordable housing options compared to other islands, with diverse climates and landscapes ranging from beaches to volcanic areas.

Factors Influencing Home Prices in Hawaii:

  1. Location: Proximity to the beach, tourist attractions, and urban centers typically results in higher property values.

  2. Property Type: Single-family homes, condos, and townhouses vary in price, with single-family homes generally being more expensive.

  3. Size and Features: Larger homes with modern amenities, ocean views, or extensive land will command higher prices.

  4. Market Trends: Real estate market conditions, including supply and demand, interest rates, and economic factors, play a crucial role in determining home prices.

  5. Leasehold vs. Fee Simple: Leasehold properties, where the land is leased for a set period, can be less expensive than fee simple properties, where you own the land outright.

Examples:

  • Urban Areas: In neighborhoods like Waikiki or Ala Moana in Honolulu, prices can exceed $1.5 million for a single-family home due to their prime locations and amenities.

  • Rural Areas: In more rural areas of the Big Island or Kauai, you might find homes priced between $400,000 and $600,000, offering more affordability with trade-offs in terms of accessibility and conveniences.

Conclusion:

Hawaii's housing market is diverse and dynamic, with prices reflecting the unique appeal and characteristics of each island and community. Working with a knowledgeable local realtor can help you navigate the market and find a home that fits your budget and lifestyle preferences.


Ready to find your dream home in Hawaii? 🌺 Schedule a free consultation with us today and get all the information you need! Click the link to get started: Schedule Your Consultation 🏠✨

8 views0 comments

Comments


bottom of page