Hawaii Real Estate Market May 2022: Forecasts + Trends

Hawaii real estate trends (May 2022)

How is the real estate market in Hawaii?
🏠 Average home value: $910,349	📈 0.09% home value increase month over month
💰 Median sale price: $934,500	⏳ 52 days on the market
🔑 Homes on the market: 3,321	📆 1.9 months of housing inventory
🏦 30-year mortgage rate: 5.38000%	💵 Average income: 83173
State of the market: B-
Hawaii’s market continues to be one of the most expensive in the United States. Despite the limited inventory, turnaround is slow — and the high markup certainly won’t help this market heat up.
_{Data last updated May 2022}*

More than 10 million tourists visit Hawaii during a typical year, but the islands are also home to more than 1.4 million residents who live there year round.

The Aloha State is known for its iconic beaches, lush rainforests, and delicious local foods like sweet shaved ice, poke, and Spam musubi.

Though Hawaii is known for its eight major volcanic islands, the archipelago actually spans a total of 137 islands in all.

If you're thinking of buying or selling in Hawaii, these Hawaii housing predictions and stats can help you make an informed decision.

Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!

Selling a home in Hawaii

Hawaii real estate market forecast for sellers
⏰ Homes are selling 11 days slower than the annual average	💰 Homes are selling for $29,004 more than the annual average
💸 Average listing commission: 2.54%	💸 Average buyer's commission: 2.45%

How to sell a home in Hawaii

Cost to sell a home in Hawaii

Buying a home in Hawaii

How much home you can buy with $300,000 in...
🏠 Honolulu: 455 sq ft	🏡 Kahului: 319 sq ft
🏡 Hilo: 683 sq ft	🏠 Kapaa: 306 sq ft

Investing in Hawaii real estate

Best of Hawaii

Each month, we compare locations in Hawaii based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.

Happiest Counties in Hawaii
1. Honolulu County
2. Kauai County

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Worst of Hawaii

Each month, we compare locations in Hawaii based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.

Least Happy Counties in Hawaii
1. Hawaii County
2. Maui County

Hawaii resources

Frequently asked questions about Hawaii real estate

Currently, it is a buyer’s market in Hawaii. The demand for real estate in the state is dipping, causing sales prices to fall and leaving properties on the market for longer than normal. However, each city and town is different, which is why you should speak with a top real estate agent first to get a better grasp of the local trends in the state.

Yes, Hawaii is a great state to invest in real estate, especially in cities like Honolulu where there's always a demand for housing and vacation rentals. Before investing, however, you need to do some research and plan out your finances and learn about the best neighborhoods to buy in. Learn more about it in our guide to real estate investing.

Although real estate has always been more expensive in Hawaii than most other states, the dip in demand makes it a good time to buy right now. Listing prices are down and homes are sitting on the market which can allow buyers to negotiate a great deal. To make the buying process as easy as possible, work with a top real estate agent to help you find the perfect deal.

Methodology

Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

Hawaii Real Estate Market in 2022: Forecasts + Trends