Oahu Condo market still a seller's market?

This weekend I viewed a few nice townhomes in Makakilo with a client who some pretty simple requirements. We viewed 4 listings that seemed reasonable, and made an offer on one that had just come on the market a week earlier.

Within 24 hours, we recieved a full price counter offer - the seller had received another offer. This happened in 2008, believe it or not. Why?

Because it's Hawaii and the market here, with a few exceptions, is generally very strong. With a very limited number of listings currently available, sellers who price their homes at a reasonable level will find that the buyers are still there and looking, especially in the very low and very high ranges.