Hawaiʻi Island’s real estate market delivered a mix of shifting trends in July, with single-family home sales holding relatively steady, condo pricing moving sharply higher, and land activity picking up from June. Across the island, buyers continue to respond to value, location, and thoughtful pricing, while individual property types and regions are telling very different stories.
Steady Activity, Faster Sales
Single-family home activity remained relatively steady in July, with 183 closed sales, slightly below June’s 189 transactions. While overall sales volume eased, homes moved more quickly during the month and the median price adjusted lower as more transactions occurred in affordable East Hawaiʻi markets.
Puna continued to lead the island with 86 single-family home sales, followed by North Kona and South Hilo. The combination of slightly lower sales volume and shorter marketing times suggests buyers remain active, particularly when homes are positioned appropriately for their local market.
Higher Prices, Longer Timelines
The condo market recorded 42 closed transactions in July, down slightly from 46 in June. At the same time, the islandwide median condo price climbed considerably, influenced by a greater concentration of higher-value transactions in West Hawaiʻi.
South Kohala and North Kona accounted for most of the month’s condo activity. With 19 sales in South Kohala and 18 in North Kona, higher-value West Hawaiʻi transactions had a significant influence on the islandwide median.
A monthly median reflects the mix of properties that sold and does not necessarily mean individual condo values increased by the same amount.
Sales Activity Picks Up
Land activity strengthened in July, with 120 closed transactions, up from 106 in June. The median price also moved slightly higher, while average days on market declined considerably.
Puna continued to dominate the island’s vacant-land market, accounting for 80 of July’s 120 transactions. Affordable land opportunities remain an important part of Hawaiʻi Island’s real estate landscape, particularly across East Hawaiʻi.
Regional Perspective
East vs. West Hawaiʻi: Two Distinct Markets
One of the most important takeaways from the Big Island market is that islandwide statistics only tell part of the story.
East Hawaiʻi accounted for the majority of July’s transaction volume, recording 135 single-family home sales and 114 land sales. Puna remained the primary driver of activity, particularly within more attainable residential and vacant-land price points.
West Hawaiʻi recorded fewer transactions but continued to represent significantly higher price points. North Kona and South Kohala remained especially influential in the residential and condo markets, helping drive the sharp increase in the islandwide condo median.
Islandwide Insights: A Market Defined by Property Type and Location
July’s numbers point to a Hawaiʻi Island market that remains active but highly segmented. Rather than one clear islandwide trend, conditions vary considerably depending on property type, price point, and location.
Key dynamics shaping the market:
- Single-family sales remained relatively steady while homes sold faster.
- Condo sales eased slightly while the median price increased significantly.
- Land sales increased and average marketing times improved.
- East Hawaiʻi continued to drive overall transaction volume.
- Higher-value West Hawaiʻi sales had an outsized influence on islandwide pricing.
What This Means for Buyers & Sellers
For Buyers
- Different areas offer dramatically different price points and market conditions.
- Longer condo marketing times may create opportunities for thoughtful negotiation.
- East Hawaiʻi continues to provide comparatively attainable residential and land options.
For Sellers
- Strategic pricing remains critical, even when overall activity is healthy.
- Strong presentation and marketing can help distinguish a property from competing inventory.
- Neighborhood-level statistics provide a more useful pricing benchmark than islandwide medians alone.
Local Knowledge Matters
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Every Hawaiʻi Island neighborhood responds differently to changing market conditions. Whether you’re buying, selling, or simply keeping an eye on your property’s value, our team can help you understand what the latest numbers mean for your specific neighborhood and real estate goals.
Source: Hawaii Information Service MLS sales data. Information is deemed reliable but not guaranteed. Market statistics reflect a specific point in time and may change as MLS data is updated.