Hawaii Island Real Estate Market Trends for May 2025 Assessment

Quick Facts

Hawaii Island Real Estate Market Trends for May 2025 Assessment

As we dive into the latest report on Hawaii Island’s real estate market for May 2025, it’s clear that the island’s economy is still showing signs of growth, despite facing challenges in various sectors. In this article, we’ll explore the key trends and statistics that define the market, giving you a deeper understanding of what’s happening on the ground.

Single-Family Home Sales: A Mixed Picture

While single-family home sales did increase to 173 in May, which is a 12% rise from the previous month, the market is still far from its pre-pandemic highs. Compared to last year, however, sales have decreased by a substantial 6%. The majority of sales were concentrated in Puna (80), North Kona (29), and South Hilo (21), with a notable drop in sales in other areas.

This could be attributed to various factors, such as affordability concerns, supply chain issues, and the ongoing pandemic. Additionally, the rise in remote work has led to an increase in demand for luxury homes and condos, which may have affected the overall sales numbers.

Condo Sales: A Different Story

Condo sales, on the other hand, saw a surprising drop, with 48 units sold in May, marking a 36% decrease from the 75 units sold in the same period last year. This decline could be attributed to the highly competitive market, with many condos priced above the average buyer’s budget.

However, North Kona saw a slight increase in condo sales, with 31 units sold compared to the 22 units sold in April. This could be due to the area’s growing popularity among young professionals and families who are attracted to its unique lifestyle and affordability.

Land Sales: A Decline in Sales

Land sales also experienced a decline, with 146 units sold in May compared to the 165 units sold in April. This drop could be attributed to the challenges faced by the agricultural sector, which has been struggling due to droughts, pests, and diseases.

Average Days on Market: A Decrease

The average days on the market for single-family homes decreased to 57 days in May from 63 days in April and 77 days last year. North Kona saw a significant decline in days on the market, with an average of 52 days, indicating a highly competitive market.

Condo listings averaged 76 days, which is a slight decrease from the 80 days in April but an increase from the 38 days last year. Land listings took an average of 80 days to sell, down from 95 days in April and 114 days last year.

Median Sales Price: A Mixed Picture

The median sales price for single-family homes on Hawaii Island decreased to $540,000 in May from $605,000 in April. However, North Kona saw an increase in median sales price to $1,210,000, which is an 8% rise from last May.

Condo prices rose to $816,000 in May from $582,500 in April, with South Kohala condos reaching a high of $1,725,000. North Kona condos also saw an increase, with a median price of $650,000, up from $547,500 in April and $599,000 last May.

Land prices rose to $60,000 in May from $55,000 in April, marking a 38% increase from $43,500 last May.

What to Expect Moving Forward

As we move forward into the remainder of 2025, it’s crucial to stay informed about the market trends and statistics. With the ongoing pandemic and global economic uncertainty, it’s essential to stay flexible and adaptable.

As a buyer, it’s crucial to work with a knowledgeable real estate agent who can help you navigate the market and find the best deals. As a seller, it’s important to stay informed about the current market conditions and price your property competitively to attract potential buyers.