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Articles

June 2025 Real Estate Market Recap & Opinion

July 9, 2025 By Nick Kawakami

The June 2025 real estate stats just came out and here’s a quick recap of the things you need to know.

A Boost in Summer Activity

Oʻahu’s housing market held steady in June, with some positive momentum in both the single-family and condo markets. While prices remain relatively flat year-over-year, there are clear signals that buyer activity is still present—especially in the single-family home segment. According to the Honolulu Board of REALTORS®, single-family home sales rose 12% compared to June 2024, and condo sales edged up by just under 1%. These numbers offer some encouragement as the market adapts to higher inventory levels and longer time on market.

More Homes, More Sales: A Healthy Sign

The most notable stat this month? The number of closed sales for single-family homes continues to rise—even as active inventory also climbs. In June, we saw 289 single-family homes close escrow, up from 258 in the same month last year. At the same time, active inventory jumped from 653 to 861—a 32% increase. That combination tells a compelling story: buyers now have more options and they’re acting on them. The market isn’t stalling under the weight of new listings; instead, it’s absorbing them. This balance of rising supply and increased buyer activity is rare and reflects growing consumer confidence in today’s market conditions.

Single-Family Market Stays Competitive

When we look at prices, the median for single-family homes came in at $1,125,000, up just slightly from $1,120,000 a year ago. The modest increase suggests that sellers are being realistic, even as competition improves. In fact, 35% of June’s closed sales came in under $1 million—a lower share compared to the first half of the year, but still indicative of opportunity for budget-conscious buyers. Meanwhile, median days on market lengthened a bit, now sitting at 24 days (compared to 15 in June 2024), meaning buyers have a little more breathing room to make decisions.

Condo Market Softens, but Buyers Remain Active

On the condo side, the picture is a bit more nuanced. The median price declined 3.8%, from $530,000 to $510,000, and inventory rose significantly—up 47% year-over-year to 2,542 active units. With that much supply, it’s no surprise that condos are sitting on the market longer. Median days on market grew to 40 (from 26 last year), and nearly 42% of active listings in June had experienced a price adjustment. Buyers here have leverage, and many are taking their time. That said, activity is still happening, especially in the $100,000 to $699,999 range, which saw an 11% boost in sales. Certain neighborhoods like Hawaii Kai, Waipahu, and Ewa Plain even saw pending sales jump dramatically, showing that well-priced listings in desirable areas still move quickly.

A Balanced Market in a Shifting Landscape

From a broader perspective, this month’s data reflects national trends as well—where many markets are seeing stable or slightly rising home prices, more listings, and longer selling timelines. But what’s unique to Hawai‘i is how resilient buyer demand remains, especially for single-family homes. Even with more inventory hitting the market, the appetite to buy hasn’t waned. That’s a good sign for both sides of the table: buyers are getting more choice, and sellers are still closing deals at strong values.

Looking Ahead

As we head into the second half of the year, all eyes will be on how mortgage rates and economic confidence continue to shape the housing market. For now, though, June shows us that Oʻahu’s real estate market is alive and well—just moving at a more thoughtful, balanced pace.

Want to talk about what this means for your real estate plans? Feel free to reach out. Whether you’re buying, selling, or just keeping an eye on the market, I’m here to help you make sense of it all.

Happy House Hunting,
Nick

Filed Under: Real Estate

Hurricane season is here!

June 18, 2025 By Nick Kawakami

Are you prepared?

Don’t wait for the hurricane alerts! Follow these precautions now to ensure the safety of your family and home!

While some natural disasters are infrequent (like tornadoes), Hawaii is geographically positioned to be high-risk for Pacific hurricanes. From June 1st to November 30th, our risk becomes even greater as we enter “hurricane season.” And even though NOAA is predicting a less-active hurricane season, it’s still very important to make sure you are prepared if a storm should hit. Below are some guidelines and resources you can use to get yourself ready this year!

[Read more…] about Hurricane season is here!

Filed Under: Real Estate

Spring Maintenance Checklist

May 2, 2025 By Nick Kawakami

5 Key Tasks to Tackle This Season

As we transition out of the wetter winter months, it’s a great time to give your home some much-needed attention. These five maintenance tasks can help you prevent bigger problems down the line and keep your property looking and functioning its best. Whether you plan to DIY or hire a pro, these spring cleaning items are worth checking off your list, especially as we come into the summer months in the islands!

✅ 1. Clear Roof & Clean Out Gutters

If you haven’t had your roof inspected in the last couple of years, or you’ve noticed signs of wear after high winds this winter, now’s the time to act. A professional roofing contractor can spot issues before they turn into leaks or water damage. And don’t forget the gutters—clogged gutters can lead to overflow and erosion around your foundation. While you’re at it, take a look at nearby trees or shrubs. If they’re brushing up against the roof or siding, trimming them back can prevent damage and make future maintenance easier.

✅ 2. Test & Repair Irrigation Systems

Water is one of our most precious resources here in the islands. After our rainy months, it’s common for irrigation systems to have broken sprinkler heads or leaks that waste water and increase your bill. Run your system zone by zone and inspect for overspray, pooling, or missed areas. Adjust timers and settings for spring/summer conditions, and consider switching to drip irrigation in planting beds for better efficiency. You can also have a professional plumber come in to check your meter and make sure you’re not wasting any water anywhere on your property!

✅ 3. A/C System Inspection & Cleaning

Don’t wait for the first heat wave to find out your A/C isn’t cooling efficiently. A spring tune-up helps your system run more effectively and can extend its lifespan. Cleaning or replacing filters, checking refrigerant levels, and making sure your ducts are sealed are all important steps. Bonus: a well-maintained system uses less energy, saving you money on your utility bill during the hot summer months.

✅ 4. Dryer & Vent Cleaning

Lint buildup in dryer vents isn’t just a performance issue—it’s a safety hazard. The U.S. Fire Administration reports thousands of house fires each year caused by dryers. A professional vent cleaning can remove debris from the entire length of the duct, ensuring proper airflow and reducing drying time. This is also a good time to clean behind your dryer and vacuum out any hidden lint or dust.

✅ 5. Pressure Wash Lanais, Driveways, and Walkways

All that winter rain can leave behind mildew, algae, and general grime, especially in shaded or high-traffic areas. A good pressure wash can instantly refresh your outdoor spaces and help prevent slippery surfaces. If you don’t have a pressure washer, many local vendors can handle this in an afternoon—and the results can be very satisfying!

Need help getting any of these tasks done?

I’d be happy to recommend trusted local vendors who can get the job done right. Just reach out—I’ve got a great list!

– Nick

Filed Under: Real Estate

ANNUAL SHRED DAY ANNOUNCED FOR 2025

March 20, 2025 By Nick Kawakami

Another tax year will be in the books and another reason to celebrate Earth Day in 2025! Bring your unwanted items down to our office to be securely destroyed and recycled for free!

Shred-It trucks will be at our office parking lot on Saturday, April 19, starting at 9:00 am with their document shredding truck.  This is a free event, sponsored by my brokerage & Fairway Mortgage, so bring as much stuff to shred as you’d like!

Quick Details

  • Location: 1045 Mapunapuna St. (Marcus & Associates building parking lot behind Servco Toyota)
  • Collection time between 9:00 am – 12:30 am on Saturday 4/19/2024
  • Paper only, since it will be recycled after shredding
  • Staples, small paperclips, and manila folders are fine
  • Plastics (i.e sheet protectors, binding combs), electronic media storage (i.e. CDs, thumb drives), and binder clips need to be REMOVED beforehand
  • Boxes will NOT be shredded, so please take those back home and blue bin those
  • Garbage bags will also NOT be shredded and dumped unless you want them back
  • Bring as much as you want!
  • Fine Time Shave Ice will also be on-hand delivering delicious treats to visitors!

Fine Time Shave Ice!

Who doesn’t like FREE shave ice too!? Thanks again to Marcus Realty and Fairway Mortgage for providing shave ice to all those who attend!

Hope to see you there!

Volunteers will be on hand all morning collecting your shredding items for the truck. Hope to see you all there, and thank you for supporting our event!

Filed Under: Journal, Real Estate

2024 Year-End Real Estate Recap & Outlook

February 11, 2025 By Nick Kawakami

2024 had a mixed bag of data signals, and as we look at the year ahead we may see more of the same inconsistency we saw.

Condos set record median price in December but end the year with more listings available and longer listing times

2024 ends with 56% more condos for sale year-to-date (YTD), a result of increasing insurance costs, capital improvements, and deferred maintenance in many buildings that have persisted over time. This substantial inventory increase reflects ongoing economic pressures that property owners face, including rising costs of materials and labor that have influenced their ability to maintain and enhance their properties. Year-to-date (YTD) condo sales decreased by 2.5% from last year and are down an alarming 30% compared to 2022, which highlights the challenges buyers are facing in this fluctuating market. Despite these conditions, the current months of active inventory for condos sit at 5.2%, indicating a BUYER’s market where potential purchasers may have more negotiating power than in previous years. This shift presents unique opportunities for buyers who may find favorable pricing and a wider selection. Overall, the condo market’s dynamics are changing rapidly, and stakeholders must stay informed to navigate these trends effectively.

Single-family homes fared better than condos, better but are not immune to similar insurance issues

Inventory of single-family homes rose 12% year-over-year in 2024, paired with longer marketing times. In spite of this, many homes still garnered multiple offers as land becomes harder to purchase. All in all, median prices rose 4.8% and and total sales rose by 9.1%.

Pricing matters as buyers define the most important factors

A significant portion of the market’s activity in 2024 was driven by single-family homes priced at $999,999 and below, which accounted for about 40% of total sales, reflecting a strong demand from first-time buyers and families looking for affordable options. This segment’s popularity highlights the importance of pricing strategies and the appeal of suburban living, where larger properties and better amenities are often available. Meanwhile, the higher-end market, with homes priced at $1 million and above, saw a remarkable 19.2% increase in sales, suggesting a resurgence in luxury real estate investments, particularly among affluent buyers seeking more spacious and luxurious properties amidst changing lifestyle preferences. Condo sales also saw significant growth in the $500,000 and above range, surpassing sales at lower price points, indicating that many buyers are now prioritizing amenities and location over purely price-driven considerations, thus reshaping the narrative of urban real estate where lifestyle and convenience are becoming major selling points.

Many factors should keep markets consistent again in 2025

The outlook for the year ahead is simply “same, same.” The condo market will continue to struggle with increased inventory, which has been a persistent challenge over the past few years, leading to heightened competition among sellers. This situation is exacerbated by a notable demographic shift, as more buyers are seeking larger living spaces due to changing lifestyle preferences. Meanwhile, the limited supply of homes is expected to keep values up in a competitive market, creating a paradox where condos may become increasingly harder to sell, yet retain their value due to overall market demand. As we approach 2025, it will be vital for investors and homebuyers to closely monitor these trends and adapt their strategies accordingly, ensuring that they can navigate through the complexities of the market effectively.

Filed Under: Real Estate

UHERO Economic Update provides some insight into the future

November 13, 2024 By Nick Kawakami

During today’s Metro Regional Meeting for the Honolulu Board of Realtors, guest speaker Sumner La Croix, Professor Emeritus from the University of Hawaii Economic Research Organization (UHERO), gave us attendees an update an outlook on the current local economy. I’ve distilled the whole presentation down to the major points, so reach out if you want to talk more.

Robust outlook expected nationwide

Overall, Sumner stated that, in spite of how it “feels,” the overall market should be fairly robust and growth is expected to continue at it’s normal 3% pace annually. Depending on what economic policies are actually enacted once President Trump takes office, there could be issues affecting our local economy that we need to monitor.

Uncertainty regarding impact of Trump policies on economy

Mass deportation will affect Hawaii economy directly

Basically, deportation of workers in places like California, Nevada, and Arizona will create a vacuum of job migration to the mainland. Local workers in industries like tourism and construction will be drawn to the mainland when the lack of workforce creates a higher demand there.

Tax cuts will put stress on medium and long-term interest rates

President Trump’s proposed tax cuts will raise output, leading to a bigger deficit, and put stress on interest rates. Tax cuts would also need to be paired with spending cuts, putting a damper on economic growth, and possibly leading to even higher interest rates.

Tariffs could put further strain on international tourism

Outside of the direct increase that tariffs would have on nationwide inflation, it would raise the value of the dollar internationally. If that happens, the international tourist may seek other cheaper destinations instead of Hawai‘i, including real estate purchases.

Economic policies will not lower interest rates as far as expected

With inflation expected to continue to rise under President Trump’s economic policies, we will also see mortgage interest rates settle around 6% nationwide. UHERO expects 10-year treasury yields to grow as well, alongside a falling federal funds rate.

Will rates come down much? Trump election raises forecast

Statewide, economic weakness is Maui

Overall, visitors are about 80% back since the wildfire on Maui. While all other islands have seen growth since then, Maui continues to drag the state’s overall economy down as it still recovers.

State population also expected to fall in near future

A population decline is expected, which leads to a shrinking labor force and less homebuyers.

Japanese tourism still down

Tourism from Japan is still about 40% of what it was pre-COVID, and is expected to continue struggling amid rising dollar strength (weakening Yen) and more affordable destinations.

Construction expected to offset tourism downswing

Thanks to several large government construction projects in the works, UHERO expects the local economy to be stable amid the tourism slowdown. The projects are only scheduled through 2028, so forecasts after that are weaker.

Regulatory costs are third highest in the nation

According to a recent UHERO study, Hawaii ranks third in the nation among highest regulatory costs in new condo construction. UHERO estimates that roughly $400,000 is added on to the cost of constructing a condo due to delays from permitting and archaeological examinations.

Locked-in mortgages will strain resales

Since January 2022, roughly 30% of all mortgage loans on the island have less than a 3% rate. It was closer to 5% pre-COVID. With rates above 6% now, it will be harder for homeowners to make a flip into a new property at the higher rate, so more owners are expected to hang on to their current mortgage longer than traditionally.

Overall outlook not as strong locally

Maui rebuilding and government construction projects will grow Hawaii GDP in the short term. However, if foreign tourists continue to struggle amid a strengthening dollar, then Hawaii will struggle to maintain good economic standing after those construction dollars have run out. Pairing that with expected rising inflation under President Trump’s economic policies and the rising costs of insurance locally, will put a strain on our economy in the long-term.

This outlook is in line with what we’ve been seeing within the real estate market. We had hoped that interest rates would fall a little further than what UHERO is outlaying, but a settling rate is better than a rising rate, especially as more Sellers will sit on the fence with their sub-3% interest rate locked in.

If you would like more information about any of these points, feel free to reach out and let me know!

Filed Under: Real Estate

14th Annual Toy Drive & Kick-Off Concert Announced

November 4, 2024 By Nick Kawakami

With the holiday season gearing up, I’m happy to announce that my family and I will be hosting our 14th annual toy drive and kick-off concert again this year! The festivities start with a concert featuring my Dad & Brother at the Slack Key Lounge at Hawaiian Brians, and continue with a month-long toy drive to benefit the Laulima Giving Program.

We started this toy drive with the intent to help local families and, to date, we’ve donated thousands of new toys and tens of thousands of dollars. It’s been a huge privilege and humbling experience to see so many of our friends and family support this cause with us each year!

Kick-Off Concert Details

To start the toy drive and kick-off the Christmas season, MānoaDNA will be performing live and tickets will be available soon! Here are the details for the concert, as of today (11/4/2024):

  • Date: Saturday, November 30th, 2024
  • Location: Slack-Key Lounge at Hawaiian Brians (1680 Kapiolani Blvd, 2nd Floor)
  • Time: TBD, but will be an evening concert
  • Tickets: Click here to buy tickets ($10/each)
  • Virtual Viewing: Link to be provided before the concert

We will also be collecting toys at the concert, so please bring new, unused, and unwrapped donations with you!

Nick & Alex at the 2013 “Boys & Their Toys” drive and concert at Gordon Biersch.

More Ways to Donate Toys!

The concert is not the only way we are collecting toys! If you can’t make it to the concert, you can still help Hawai‘i families by donating new and unwrapped toy donations to my office at Marcus Realty through December 23rd. Please drop off during business hours (8:30 AM-5:30 PM Monday-Friday), and do not leave any donations outside if the office is closed. The Laulima Giving Project will come to pick up all the donations and make sure they get into the right hands!

If you are going to be dropping off a toy to my office this way, please call/text me to let me know! I am not personally there during all business hours, but our staff is ready to help if I am not.

Thank You!

On behalf of my family, we’re super grateful that you’re taking the time to help this great cause! We’ve been really fortunate to have great Christmases growing up, so we really work hard to give that to other families as well! Your donations go directly to the Laulima Giving Project and make a HUGE difference during the holidays! Thank you for being a part of it, and happy holidays!

Filed Under: Real Estate

ANNUAL SHRED DAY ANNOUNCED FOR 2024!

March 19, 2024 By Nick Kawakami

Another tax year will be in the books and another reason to celebrate Earth Day in 2024! Bring your unwanted items down to our office to be securely destroyed and recycled for free!

Shred-It trucks will be at our office parking lot on Saturday, April 20, starting at 9:00 am with their document shredding truck.  This is a free event, sponsored by my brokerage & Fairway Mortgage, so bring as much stuff to shred as you’d like!

Quick Details

  • Location: 1045 Mapunapuna St. (Marcus & Associates building parking lot behind Servco Toyota)
  • Collection time between 9:00 am – 11:30 am on Saturday 4/20/2024
  • Paper only, since it will be recycled after shredding
  • Staples, small paperclips, and manila folders are fine
  • Plastics (i.e sheet protectors, binding combs), electronic media storage (i.e. CDs, thumb drives), and binder clips need to be REMOVED beforehand
  • Boxes will NOT be shredded, so please take those back home and blue bin those
  • Garbage bags will also NOT be shredded and dumped unless you want them back
  • Bring as much as you want!

Hope to see you there!

Volunteers will be on hand all morning collecting your shredding items for the truck. Hope to see you all there, and thank you for supporting our event!

Filed Under: Journal, Real Estate

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All information contained in this website is not guaranteed, and any questions should be directed to your trusted real estate agent (hopefully me!). All media is property of Above The Stream LLC, and all opinions are my own. All listings are properties of the owners, and requests for removal can be made using the contact page. Thank you for visiting!

Nick Kawakami, Realtor Associate
RS-76713, Marcus Realty
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Copyright © 2025 · Nick Kawakami, VP, Marcus Realty
Licensed in the State of Hawaii, RS-76713

All information contained in this website is not guaranteed, and any questions should be directed to your trusted real estate agent (hopefully me!).
All media is property of Above The Stream LLC, and all opinions are my own.
All listings are properties of the owners, and requests for removal can be made using the contact page.