Why are Hawaii real estate prices so stubborn? They just won't crash, even though mortgage rates are over 7%? It's very simple - supply and demand.  But, some buyers are getting deals! Where? 

With 28.8% fewer new listings, there simply isn't enough on the market for all the buyers.  Even with higher rates, a slower economy, bank failures, nothing can overcome one simple thing: a lack of inventory for available buyers. 

Right now there is only a 2.6 month supply of homes for sale, while historically, it's usually around 6 months of inventory. 

So where are buyers finding good deals? In brand new construction, like DR Horton's Hoopili, and also Kuilei by the Koboyashi Group.  These new homes have a long closing time, which is an advantage for people wanting to wait for the market to stabilize.  

We have a few opportunities for buyers to lock up prices for up to 3 years, then wait for interest rates to go back down, and for prices to begin to rise again.  For now, prices are down a mere 1.6% since last year, which is only about $17k off the median price.