Hawaii real estate market shows divergent trends in pricing and sales

Hawaii’s real estate market is experiencing significant shifts driven by tourism recovery, military presence, and fluctuating inventory. While broader state trends have seen median home prices rise sharply—reaching approximately $1 million in recent years—specific regional data for the Big Island shows a more nuanced August 2026 performance.

On the Big Island, single-family home sales slowed to 153 transactions in August, down from 186 in July. However, the median price for these homes increased to $580,000, and properties moved faster, with an average of 67 days on the market. In contrast, the condominium market saw a decline in both sales volume and median price, with 31 closed transactions and a median price of $493,000.

The state's economic landscape, heavily influenced by the rebound in tourism and the presence of over 100,000 active-duty military personnel, continues to impact housing demand. Concerns persist regarding home affordability as property values rise faster than local incomes.