The average selling price of a house in Hawaii can vary significantly depending on the island, location, property type, and market conditions. Here's an overview of average home prices across the major Hawaiian islands as of 2024:
1. Oahu:
Average Selling Price: Approximately $1,050,000
Oahu, home to the state capital Honolulu, generally has the highest property prices due to its urban environment, job opportunities, and amenities. Neighborhoods like Waikiki and Kailua are particularly popular and often command premium prices.
2. Maui:
Average Selling Price: Around $950,000
Maui is known for its luxury resorts, beautiful beaches, and scenic landscapes. The island's popularity as a vacation and retirement destination contributes to higher real estate prices, especially in areas like Wailea and Lahaina.
3. Kauai:
Average Selling Price: About $825,000
The "Garden Isle" of Kauai offers lush landscapes and a quieter lifestyle. While it has a more laid-back feel, property prices can still be high, particularly in desirable areas like Princeville and Poipu.
4. Big Island (Hawaii Island):
Average Selling Price: Roughly $500,000
The Big Island is the most geographically diverse, offering everything from beachside properties to volcanic terrain. It generally has more affordable housing options compared to other islands, with a wide range of prices depending on the specific area.
Factors Influencing Average Home Prices:
Location: Proximity to the beach, urban centers, and amenities can significantly affect home prices.
Property Type: Single-family homes, condos, and luxury estates vary in price, with single-family homes often being the most sought after.
Market Conditions: Real estate market trends, including supply and demand, interest rates, and economic conditions, play a crucial role in determining home prices.
Property Features: Homes with ocean views, large lots, or modern amenities typically sell for higher prices.
Conclusion:
The average selling price of a house in Hawaii reflects the state's desirability and unique appeal. While prices are generally higher than the national average, they vary widely depending on the island and specific location. Working with a knowledgeable real estate agent can help you navigate the market and understand the factors influencing home values.
Thinking of selling? Contact us today for a market analysis!
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