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Hawaii Real Estate Trends

Below you will find annual charts and tables for Oahu and Maui from 1997. After that are charts showing the monthly Sales and Prices since 1997. We use 3-month moving averages to smooth out month-to-month variations and to highlight seasonal activity. To view our 15-month charts of Oahu and Maui, click here.

2007 Annual Market Trends

Prices for homes and condos increased for the eighth straight year on Oahu. The median price for single-family, re-sale homes rose 2.1% to $643,500. This is the smallest annual increase since 2001.

The median price for condos gained 4.8% to $325,000.

The median price for homes on Maui dropped 8.7% to $630,069. The median price for Maui condos rose 6.2% to $550,000.

Sales continued to fall. Oahu single-family home sales were off 10.2% compared to 2006, while condo sales were off 13.8%. Maui home sales were up 5.2%, but Maui condo sales were off 5.5%.

Oahu

	Homes				Condos
			% Change	% Change			% Change	% Change
	Units	Median	Unit Sales	Price	Units	Median	Unit Sales	Price
	Sold	Price	Year/Year	Year/Year	Sold	Price	Year/Year	Year/Year
1997	2,025	$310,000			2,100	$154,200
1998	2,495	$295,000	23.2%	-4.8%	2,632	$135,000	25.3%	-12.5%
1999	2,855	$291,900	14.4%	-1.1%	3,298	$125,000	25.3%	-7.4%
2000	3,181	$295,000	11.4%	1.1%	3,926	$125,000	19.0%	0.0%
2001	3,406	$299,900	7.1%	1.7%	4,261	$133,000	8.5%	6.4%
2002	3,906	$335,000	14.7%	11.7%	5,406	$152,000	26.9%	14.3%
2003	4,419	$380,000	13.1%	13.4%	6,898	$175,000	27.6%	15.1%
2004	4,702	$460,000	6.4%	21.1%	7,888	$208,500	14.4%	19.1%
2005	4,617	$590,000	-1.8%	28.3%	7,990	$269,000	1.3%	29.0%
2006	4,041	$630,000	-12.5%	6.8%	6,380	$310,000	-20.2%	15.2%
2007	3,627	$643,500	-10.2%	2.1%	5,499	$325,000	-13.8%	4.8%

Maui

Maui Homes
				% Change	% Change	% Change
	Units	Average	Median	Unit Sales	Ave. Price	Med. Price
	Sold	Price	Price	Year/Year	Year/Year	Year/Year
1997	505	$352,272	$258,068
1998	602	$379,780	$255,000	19.2%	7.8%	-1.2%
1999	965	$357,356	$250,000	60.3%	-5.9%	-2.0%
2000	951	$452,510	$275,000	-1.5%	26.6%	10.0%
2001	1,005	$404,971	$295,000	5.7%	-10.5%	7.3%
2002	996	$489,863	$375,000	-0.9%	21.0%	27.1%
2003	1,420	$590,377	$440,000	42.6%	20.5%	17.3%
2004	1,226	$731,324	$550,000	-13.7%	23.9%	25.0%
2005	1,316	$924,347	$679,000	7.3%	26.4%	23.5%
2006	1,082	$933,691	$690,000	-17.8%	1.0%	1.6%
2007	1,138	$920,807	$630,069	5.2%	-1.4%	-8.7%

Maui Condos
				% Change	% Change	% Change
	Units	Average	Median	Unit Sales	Ave. Price	Med. Price
	Sold	Price	Price	Year/Year	Year/Year	Year/Year
1997	809	$211,609	$154,900
1998	964	$231,222	$165,000	19.2%	9.3%	6.5%
1999	1,347	$226,928	$160,000	39.7%	-1.9%	-3.0%
2000	1,456	$267,189	$181,750	8.1%	17.7%	13.6%
2001	1,348	$325,225	$190,500	-7.4%	21.7%	4.8%
2002	1,573	$299,527	$195,000	16.7%	-7.9%	2.4%
2003	2,001	$353,726	$241,325	27.2%	18.1%	23.8%
2004	1,935	$439,885	$310,000	-3.3%	24.4%	28.5%
2005	2,050	$552,255	$385,000	5.9%	25.5%	24.2%
2006	1,247	$782,915	$518,000	-39.2%	41.8%	34.5%
2007	1,179	$816,867	$550,000	-5.5%	4.3%	6.2%

Monthly

The charts below shows the three-month moving average for single-family home unit sales vs. median price since 1997. The first chart is for the Island of Oahu and the second chart is for Maui. Expand the charts below by clicking on the image.

Oahu

Maui

We have a complete set of charts that include prices and unit sales for single-family homes and condos. The charts show the month-to-month change along with 3-month moving average charts, to reduce month-to-month fluctuations yet retain seasonal variations, and 12-month moving average charts to remove seasonal variations and return the long-term trends.

The charts for Oahu and Maui are on separate pages.

Oahu
Maui

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