Oahu Housing Market for 3Q 2024

-Oahu Housing Market for 3Q 2024

Oahu housing market showed signs of resilience and stability in the 3Q for 2024.
Despite economic uncertainties, the demand for housing remained robust, driven by local Buyers and Mainland investors. Average Sales Price and Median Sales Price have been maintained.

For September 2024, condo active inventory was spiked.  Living in paradise comes with challenges, especially for condo owners.  A significant concern facing Hawaii’s Condo owners is the rising cost of homeowner’s insurance, particularly Hurricane coverage.  Condo properties raise their HOA monthly fee by 300% to 800% and impose special assessments to cover the insurance gaps.