Copy of Hawaii Big Island Market Update

Aloha,
At KE Team, we strive to keep our clients and friends informed about the Big Island market. Each month, we publish our data flipbook, featuring valuable insights such as Historical Median Price, Activity by Price Ranges, Active/Pending Ratio, and Inventory. We specialize in the west side of the Big Island.

Please email us if you have any questions or if you’d like to discuss the market in your neighborhood!

Mahalo,
Kai and Emil

June Market Update Flipbook

Key Metrics Summary for June 2024

Single Family Homes:     While the median price rose by 8.8%,  the active listings(SUPPLY) increased by 22.1%, and pending sales (DEMAND)  decreased by 8.1%, indicating a possible readjustment towards a balanced market.  The inventory level is still about 50% of pre-COVID days, and the months' supply of 2.4 months still favors sellers. Nonetheless, we are starting to see properties that do not sell.  Pricing and Preparation are the keys to success for sellers.  

Condominiums:    The median price saw a significant increase of 18.1%, but active listings (SUPPLY) surged by a nerve-wracking 236.7%!  The pending sales (DEMAND) decreased by 34% this month, reflecting a substantial increase in supply and possible softening demand.  Just like Single Family Homes, the inventory level is still 50%-pandemic. In June 2008, there were 391 Single Family Homes and 345 Condos on the market in Kona.  What a difference.

Here are list of listings that hit the market in last 2 weeks.

Latest Kona Home Listings

Latest Kona Condo Listings

Latest Big Island Resort Listings

Median Prices by Island

Homes | Condo

Oahu : $1,072,000 | $510,000
Maui:   $1,300,000 | $880,000
Kauai:  $1,425,000 | $795,000
Hawaii(Kona):$1,300,000| $652,500

Hawaii Insurance Chief Doesn't See Carrier Exit 

There has been lots of concerns on condominium insurance premium due to premium hikes in the mainland.  Hawaii Insurance Chief Gordon Ito addressed concerns about insurance carriers exiting the market due to rising costs. Despite increasing challenges, he reassured that Hawaii's insurance market remains stable. Ito highlights the importance of ongoing efforts to manage risks and control costs, ensuring that property owners have access to necessary coverage. While acknowledging the pressures on the industry, Ito emphasizes a commitment to maintaining a healthy insurance landscape for Hawaii's consumers.
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Maximize the value of your home with KE Team Hawaii.

Daisuke 'Kai' Ioh

RB-19352
REALTOR®
M: 808.936.6148
kai.ioh@compass.com
www.KEteamHawaii.com

Emil Knysh

RS-75490
REALTOR®
M: 808.747.0503
emil.knysh@compass.com
www.KEteamHawaii.com

Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.