Market Stats
Trailing 3-Year Market Statistics
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| Number of Transactions | 66 | 62 | 44 |
| Number of Units | 1023 | 587 | 412 |
| Total Volume | $373,243,795.00 | $174,817,678.00 | $118,859,499.00 |
| Median Price | $2,637,500.00 | $2,177,956.00 | $2,012,500.00 |
| Median Price Unit | $316,567.00 | $273,842.00 | $311,812.50 |
| Median Price per Sq Foot | $505.07 | $494.02 | $512.08 |
Trailing 24-Month Statistics
In 2024, the market experienced a notable slowdown, with the number of transactions dropping 29% and unit sales falling 30% compared to the previous year. Total sales volume declined by 32%, reflecting reduced market activity and possibly more cautious investor sentiment. Despite these declines, pricing fundamentals remained relatively strong. The median price per unit rose by 14%, and the price per square foot increased by 4%, indicating sustained demand for quality assets. The overall median sale price, however, dipped 8%, suggesting a shift in the types of properties being sold. While the market cooled significantly, resilient price metrics point to continued value in well-positioned properties.
Trailing 12-Month Statistics
2023 Multifamily Statistics
| Island-Wide (Oahu) | YOY% Change | Honolulu | YOY% Change | Central and Leeward | YOY% Change | |
|---|---|---|---|---|---|---|
| Total Volume | $123,660,360 | -29.40% | $95,087,000 | -30.03% | $24,273,360 | -0.4% |
| Number of Transactions | 55 | -12.70% | 38 | -17.39% | 15 | 25% |
| Median Sales Price | $1,850,000 | -15.90%% | $2,260,000 | -4.74% | $1,275,000 | -27.10% |
| Median Sales Price Per Unit | $274,000 | -8.60% | $301,931.82 | 0.23% | $225,000 | -7.90% |
| Total Number of Units | 6 | -25% | 6 | -25% | 6 | 0% |
| Median Days on Market | 18 | -14.30% | 17 | -15% | 11 | 0% |
| Effective Rent | $1,887 | 23%% |