How is the Hawaii real estate market doing? This is the most common question people ask me when they see me around town. People ask me, "How's the real estate market?" often before they ask me how I'm doing, which is fine because it's what's on my mind as well.
So how is the market doing as of today? My summary is - there is very little available for sale under $1.5mil, and anything priced correctly has multiple offers. In short, the market is as hot as ever, but with little inventory, it's hard to be a buyer.
This week we listed a couple new properties, including this nice condo at Hokulani in Kailua, that got an offer over list price in 1 day.
This great 2 bedroom condo in the heart of Kailua town will likely get multiple offers, and will almost certainly sell over the $540k asking price. Why? Because inventory on Oahu is very low. In fact, this is the only unit available at Hokulani, so if you want one, you're probably going to compete with other buyers to get it.
I just had a client tell me that it seems like there is nothing available for her to look at, even though her price range is up to about $1.8million. That is the case with many buyers here, which means prices are continuing to rise.
How's the market? It's very strong.