Blog
Market Update – May 2023
The Big Island real estate market was a mixed bag in May. Sales activity for single-family homes showed strong demand, with properties selling 12 days faster than the previous month. However, the days on the market continued to increase for condos, reaching 43 days compared to 33 days for single-family homes. Across the island, the lack of inventory for sale remains evident, as there were 34% fewer listings this month (268) compared to last year (407). On the Big Island, the real estate market often experiences increased activity throughout the summer months, so be on the lookout for more competition among both buyers and sellers.
Brief Overview:
Island of Hawaii Unit Sales Stats for May 2023 VS. May 2022
TOTAL SALES
Single Family Homes – Total sales of 187 single family homes marks a decrease of 27% units in comparison to May 2022.
Condos – 56 total sold - down 40% from 2022 numbers.
Land – 198 total sales of land offerings representing a decrease of 31% when compared against 2022 sales for May.
NEW LISTINGSS
...
Market Update – April 2023
The Big Island real estate market is finding its footing at pre-pandemic demand levels as median days on the market and total sales return to 2018-2020 ranges. Two consecutive months of increased sales activity are in line with previously established seasonality trends of higher sales activity in the summer months. A deeper dive into prices shows strong demand for West Hawaii with median prices for single-family homes holding the $1 million mark and a slight softening for East Hawaii with median prices at $350K.
Brief Overview:
Island of Hawaii Unit Sales Stats for April 2023 VS. April 2022
TOTAL SALES
Single Family Homes – Total sales of 160 single family homes marks a decrease of 33% units in comparison to April 2022.
Condos – 60 total sold - down 31% from 2022 numbers.
Land – 164 total sales of land offerings representing a decrease of 37% when compared against 2022 sales for April.
NEW LISTINGS
Single Family Homes – 158 new for April 2023. Down 48%. ...
Market Update – March 2023
Median sales prices for single-family homes on the Big Island established a new record high at $558,000 in March, led primarily by the island's west side (Kona and Kohala}. While the overall market showed signs of finding a bottom with regard to sales activity, days on market continue to increase as housing affordability and a perpetual lack of homes for sale put pressure on buyers and sellers alike.
Brief Overview:
Island of Hawaii Unit Sales Stats for March 2023 VS. March 2022
TOTAL SALES
Single Family Homes – Total sales of 160 single family homes marks a decrease of 43% units in comparison to March 2022.
Condos – 57 total sold - down 31% from 2022 numbers.
Land – 207 total sales of land offerings representing a decrease of 35% when compared against 2022 sales for March.
NEW LISTINGS
Single Family Homes – 188 new for March 2023.
Condos – 44 units in March 2023.
Single Family Homes Specific Stats:
Median Sales Price:
$558,000 in March 2023. An increase of 8% over median prices from March 2022.
Days...
Market Update – February 2023
The Big Island real estate market ended February as a mixed bag. Residential home sales hit 10-year lows with only 127 closed transactions as properties are now taking three times longer to sell (41 days) compared to the same time last year (12 days). Condos on the other hand have seen an uptick in sales activity with units going into escrow in just 14 days. When reviewing Big Island market stats be sure to consider neighborhood-specific stats as the overall median price for a single-family home is $460K, while a more detailed view reflects median prices of $899K in Kona and $465K in Hilo.
Brief Overview:
Island of Hawaii Unit Sales Stats for February 2023 VS. February 2022
TOTAL SALES
Single Family Homes – Total sales of 127 single family homes marks a decrease of 44% units in comparison to February 2022.
Condos – 48 total sold - down 44% from 2022 numbers.
Land – 114 total sales of land offerings representing a decrease of 46% when compared against 2022 sales for February.
NEW LISTINGS
Single Family Homes – 147...
Market Update – January 2023
The Big Island real estate market is approaching a crossroads-total sales for single-family homes and condos approached 1 0-year lows with just 7 more sales in January 2023 compared to the low of 162 sales in May 2019. With so little inventory for sale, median prices have continued to stay within the range of recent highs. With both buyers and sellers at a standstill, days on market have continued to climb month after month reaching 35 days in January up from just 13 days in July of last year.
Brief Overview:
Island of Hawaii Unit Sales Stats for January 2023 VS. January 2022
TOTAL SALES
Single Family Homes – Total sales of 134 single family homes marks a decrease of 39% units in comparison to January 2022.
Condos – 35 total sold - down 49% from 2022 numbers.
Land – 105 total sales of land offerings representing a decrease of 55% when compared against 2022 sales for January.
NEW LISTINGS
Single Family Homes – 178 new listings representing 35% fewer new home listings over January 2022.
Condos – 54 units in ...
Market Update – December 2022
Much like Mauna Loa, the Big Island real estate market has gone quiet in December. Compared to the same month last year, total sales are down -50% for single-family homes and -55% for condos island wide. Even with sales activity down, median prices are holding steady in part to a lack of inventory for sale. If you plan to buy or sell property on the Big Island, understanding the nuances of each market area is critical as demand and desirability factors can vary greatly from one market area to another.
Brief Overview:
Island of Hawaii Unit Sales Stats for December 2022 VS. December 2021
TOTAL SALES
Single Family Homes – Total sales of 147 single family homes marks a decrease of 50% units in comparison to December 2021.
Condos –38 total sold - down 55% from 2021 numbers.
Land – 131 total sales of land offerings representing a decrease of 43% when compared against 2021 sales for December.
NEW LISTINGS
Single Family Homes – 156 new listings.
Condos – 58 units in December 2022
Single Family Homes Specific Stats:...
Malama Kai Foundation
Aloha Neighbors and Friends,
For over 30 years, Malama Kai Foundation has been fulfilling our marine resource stewardship mission by supporting the statewide Day-use Mooring Buoy (DMB) Program, implementing youth educational programs, providing education and outreach regarding current ocean and coral reef habitat issues, and supporting various community-based conservation programs and projects. We are known for our balanced, respectful approach to working with conservationists, marine resource users, policy-makers, and the general public.
We have accomplished a lot together in 2022! We established two educational scholarship programs. The first, the Hawaii Youth Camp Scholarship Program, will support access by Hawaiʻi youth to outdoor education camps focused on marine and coastal environments. The second, the George A. Wilkins Memorial Scholarship, will provide financial support to college-level students who are Hawaiʻi residents and pursuing degrees with a focus on marine technologies, oceanography, marine science, or coastal...
Sustainable Coastlines Hawaii
WE'VE GOT A LOT TO CELEBRATE
In 2022 you helped us remove tens of thousands of pounds from the beach, educate thousands of students, and divert loads of food scraps and recyclables away from the incinerator. We brought back our cleanup festivals for the first time since COVID, reached thousands at our first ever Vans US Open of Surfing, laid the groundwork for transforming composting and waste management on the island, connected with millions of individuals through virtual campaigns, and brought on three very special new Staff and a few wonderful interns.
In summary, we did a lot...and we couldn't have done it without you. Whether you volunteered in person, made a donation, subscribed to and read our newsletters, or followed along on social media, every way that you and everyone in this community has engaged with us has helped us accomplish everything detailed in this impact report.
Mahalo for your support, and get ready for an even bigger and better year ahead.
As a special thank you to our newsletter subscribers, you g...
Island of Hawaii Family Visitation
Aloha Friends, Family and clients,
Lissette and I support a few organizations on the Big Island that primarily involve our island’s youth. I thought you might be interested in this seasonal time of giving, where we also remember the many gifts and blessings we’ve been fortunate enough to receive. Please read on for further details of each group's efforts and contact information for your reference.
Aloha,
Rick
The Island of Hawaii YMCA Family Visitation Center currently operates 2 locations for the FVC. One in Hilo at our YMCA site on 300 West Lanikaula Street and the other at the Waimea Preservation Center Cottage. We also use the YMCA Minoke Park, Waimea Outdoor Circle Park or the Wooden Park in Waimea for memorable visits that allow those venues. Intakes are now done online via Zoom or Google Meets by the Family Visitation Center Supervisor or Director.In the past we were able to fully staff the Waimea Center, however due to budget constraints we now go on an as needed basis. In order to maintain the FVC ...
