Hawaii (HI) housing market
Cold MarketStatewide monthly sale-market indicators for rental investors — not a substitute for local rent comps, taxes, or insurance, but a fast read on price level, pace, and negotiation pressure.
Data period: May 2026
Market snapshot
- Median sale price
- $741K
- Median days on market
- 86 days
- Months of supply
- 7.0
- Active inventory
- 6,634
- Homes sold
- 943
- Sale-to-list ratio
- 97.8%
- Listings with price drop
- 17.3%
- Data month
- May 2026
Pair this view with the rental property calculator, DSCR calculator, and cap rate calculator — or browse all calculators.
Rental Investor Snapshot
Labels below come from monthly sale-market indicators only. True cash flow requires local rent, taxes, insurance, vacancy, and expense assumptions — model those in the rental calculator, then sanity-check against sale-speed signals here.
- Market temperature
- Cooling
- Buyer leverage
- High
- Pricing signal vs. U.S. median
- Harder buy-in vs. U.S. median (price only)
- Investor fit (heuristic)
- Negotiation
Watch-outs
- Slower sales (longer days on market) can mean more time to diligence — but also weaker demand.
- Higher months of supply usually improves buyer leverage on price and terms.
Suggested next step: Run a rental property analysis with your own rent, financing, vacancy, and expense assumptions — then sanity-check against this market's sale-speed and negotiation signals.
Cold Market
Inventory is high and homes are sitting longer — a buyer's market.
Hawaii market summary
The Hawaii housing market is cooling down. As of May 2026, the median home sale price is $741K, down 0.3% year-over-year. Homes are spending a median of 86 days on the market, 1.1% shorter than a year ago.
There are 6,634 homes for sale — 7.7% fewer than last year. With 7.0 months of supply, this is a buyer's market. 1,432 new listings were added during this period, down 8.0% year-over-year.
Homes are selling for 97.8% of their list price on average, suggesting room for negotiation. 19.0% of homes sell above their asking price. 17.3% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
80
Contributing Factors
How This Market Compares
vs. National Median
Investor takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. High inventory relative to sales pace means buyers have options and sellers may be flexible on price. Prices are 65% above the national median. Model rent-to-price and expenses carefully before assuming cash flow.
Hawaii market trends
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Detailed market metrics
Median list price
$781K
Price per sq ft
$637
Sale-to-list ratio
97.8%
Months of supply
7.0
Sold above list
19.0%
Price drops
17.3%
New listings
1,432
↓ 8.0% YoY
Pending sales
1,333
Hawaii housing market FAQs
What is the median home price in Hawaii?
For the latest published month, the median sale price in Hawaii is $741K. Median means half of homes sold above that price and half below — it is a useful benchmark, not a rule for every listing.
Is Hawaii a buyer's or seller's market?
With about 7.0 months of supply, conditions often favor buyers (inventory is relatively high versus sales pace). That can mean more time to negotiate and compare listings.
How long do homes stay on the market in Hawaii?
For the latest published month, the median days on market in Hawaii is 86 days — half of homes went pending faster and half slower.
Is Hawaii good for rental property investors?
Sale-market stats show how competitive buying is (speed, negotiation, inventory). They do not prove rent performance. Hawaii can still work for rentals if the numbers work on a deal-by-deal basis — use local rent comps, financing, vacancy, and expenses in the rental property calculator.
How should investors analyze a rental property in Hawaii?
Start with purchase price, financing, rent, vacancy, operating expenses, and capital repairs. Stress-test rates and rent. Will It Flow’s rental property calculator is built to translate those inputs into cash flow, DSCR, cap rate, and cash-on-cash return for Hawaii deals.
Metro markets in Hawaii
Open a metro for the same investor snapshot and trends, then run a shortlist through the DSCR calculator and cap rate calculator.
More Hawaii housing market data
Compare how Hawaii fits nationally on the U.S. housing market overview, or browse the top 100 U.S. metro housing markets by sales activity.
New to underwriting? Read how much cash it takes to buy a rental in 2026 — then stress-test assumptions in the calculators above.
Underwrite a Hawaii rental with real numbers
Cash flow, Cap Rate, DSCR, and cash-on-cash return — built for speed without skipping rigor.
Housing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.