Understanding Oahu Real Estate in 2024 | Neighborhood Guides & Trends
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Welcome to the ultimate guide to Oahu real estate in 2024! As you explore homes for sale on Oahu, it's essential to understand the island's diverse housing market. From luxurious beachfront properties to affordable single-family homes, Oahu offers a variety of options to suit every buyer's needs. In this comprehensive guide, we'll cover all of the most buzzworthy Oahu real estate topics, everything from current market trends, investing in Airbnb, Oahu New Homes and Condos, to the best places to live. Let's dive into the Oahu real estate market and discover what makes this Hawaiian island a true paradise.
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Record home prices, rising interest rates, and tightening economic conditions have started to have a chilling affect on the Oahu real estate market in 2024 but don't expect a freefall anytime soon. Oahu has long been plagued by an intense housing shortage and with nearly 1,000,000 residents, the law of supply and demand will continue to prop up the Oahu real estate market. Yes, sales are down and prices have started to slip on the macro level, but the real story is in how Oahu behaves on the micro level.
Check out our most recent Oahu Real Estate Market Report
To start 2024, the Oahu median single family home price remains at $1,050,000 with condos at $532,000. Our team remains one of the most active in the state so should you ever need real-time market guidance, we would love to hear from you!
- Single family homes are still performing extremely well, especially if they're fully renovated, compared to condos.
- Any home with multi-family potential i.e. a home with an ADU or separate rental, is going to outperform homes without it.
- A significant 16.5% decline in single-family home sales.
- A contrasting surge in condo prices, reaching a median of $532,500.
- Rapid market movement with properties averaging just three weeks on the market.
Whether you're an investor, homeowner, or potential buyer, equip yourself with the most up-to-date information. [Click here to delve deeper into the full report.]
As an Oahu real estate agent, I am often asked about the best neighborhoods on Oahu, and one of the most common factors that people consider is proximity to Beaches, Honolulu, the Airport, and most importantly the lifestyle. Below you will find arguably the most comprensive breakdown of each major Oahu community, a Lifestyle video tour of each, and local expertise to help you truly understand what it means to live here!
Median Home Price $1,200,000. Located on the southern coast of Oahu, about 5 miles from Honolulu. Between Hawaii Kai & Metro Honolulu. Known for its' convenience to restaurants, shopping, and entertainment of Honolulu. Many hillside communities with incredible city and Ocean views. Also home to some of the most expensive real estate in Honolulu. Closest Beaches: <5 mins from Waikiki & Kahala BeachView Community
Median Home Price $840,000. Located in West Oahu, about 20 miles from Honolulu. Between Waipahu & Kapolei. Known for its new developments like Hoopili, up and coming commercial retail, family-friendly atmosphere. Popular community for military personnel due to proximity to Schofield Barracks Hawaii & Joint Base Pearl Harbor Hickam. Closest Beaches: <5mins from Hau Bush, White PlainsView Community
Median Home Price $1,200,000. Located on the southeastern coast of Oahu, about 12 miles from Honolulu. Between Waimanalo & Diamond Head region. Known for its marina and waterfront properties, as well as its proximity to popular hiking trails like Koko Head Trail. Popular boating community and one of the best places to live in Oahu. Closest Beaches: <5 mins from Sandy Beach, Hanauma BayView Community
Median Home Price $1,400,000. Located on the Windward side of the island, about 20 miles from Honolulu. Between Kaneohe & Waimanalo. Known for its beautiful beaches, stunning scenery, and laid-back lifestyle. Highly regarded as one of the best places to live in Hawaii. Near Marine Corp Base Hawaii. Closest Beaches: walking distance for most to Kailua Beach and Lanikai BeachView Community
Median Home Price $950,000. Located in West Oahu, about 20 miles from Honolulu. Deemed the "Second City" of Oahu, between Ewa Beach & Waianae. Known for its growing community, easy access to shopping and dining options, and home to Ko Olina Resort. Closest Beaches: 5-10 minutes from White Plains, Hau Bush, Ko Olina LagoonsView Community
Median Home Price $813,000. Kapolei hillside community in West Oahu, Located about 18 miles from Honolulu. Known for its panoramic ocean views with close proximity to Ko Olina resort. Closest Beaches: 10 minutes to Ko Olina Lagoons, White Plains Beach, Hau BushView Community
Located in Central Oahu, about 18 miles from Honolulu. Between Wahiawa and Pearl City. Generally perceived as one of the most family friendly neighborhoods in Oahu for families due to schools, s, and vast number of parks and recreation centers. Near Schofield Barracks Hawaii. Closest Beaches: 20-25 minutes to Waimea Bay, Sunset BeachView Community
Median Home Price: $1,200,000. Located on the Northern coast of Oahu, opposite of Honolulu, about 45 miles away. Known for iconic Haleiwa Town, world-famous surf spots and rural, relaxed atmosphere. Closest Beaches: Everywhere you look!View Community
Median home price: $920,000. Located in Central Oahu, about 13 miles from Honolulu. Between Honolulu & Waipahu. Minutes from Honolulu Airport and Joint Base Pearl Harbor Hickam. Known for its military presence and easy access to the freeway. Closest Beaches: 20 minutes to Sand Island Beach, Ala Moana Beach ParkView Community
Median Home Price $630,000. Located on the western coast of Oahu, about 30 miles from Honolulu. Known for its rural, beachside community. One of the most affordable places to live on Oahu. Close proximity to Ko Olina Resort, Kapolei, & Ewa Beach. Nearest Beaches: 5-10 minutes from Makaha Beach, Yokohamas, Maili Beach, TracksView Community
Searching for brand new homes on Oahu? We're the experts and we mean it. Check out our New Construction Guide where we detail every community offering Oahu new homes. From the ever changing skyline of Kakaako, to sunny plains of Hoopili in Ewa Beach and every new Hawaii home community in between. Learn the benefits of buying new construction, along with valuable insights and tips from Oahu's New Construction Experts. Click through to uncover the most sought-after developments and expert guidance to help you navigate the new home buying process with ease.
Explore the exciting possibilities of purchasing brand new condos in Honolulu's vibrant Kakaako neighborhood. Delve into the benefits of investing in this urban oasis, learn about the luxurious amenities, and understand the promising potential for growth in this rapidly developing area. Make the most informed decision as you consider the perfect home or investment property in the heart of paradise. Click through to our in-depth blog post to learn more about the remarkable opportunities that await you in Kakaako's thriving real estate market!
Honolulu boasts several high-rise luxury condos, each with unparalleled amenities, concierge services, and breathtaking views of the Pacific Ocean and Diamond Head. The city has seen an influx of 10+ new condos in Kakaako and Ala Moana over the last decade, with more on the way, making it difficult to discern which condos are appointed with the best interiors, amenities, and designs. To help navigate this unique real estate landscape, Dwell Hawaii has curated a list of the Top 10 Luxury Condos in Honolulu. From the exclusive Park Lane to the cantilevered infinity pool of Anaha, the list includes details on each condo's location, floor plans, and average sales price. To learn more about these opulent condos, click through to the in-depth blog post.
PCS to Hawaii with ease via our comprehensive resource designed to help you seamlessly transition to your new duty station on Oahu. We cover essential topics like Hawaii Military Bases on Oahu, Hawaii BAH & COLA calculations, military hotels and lodging, on-post housing, neighborhood insights, and more. Learn about the culture, lifestyle, and things to do on Oahu, and make your move as smooth as possible.
What it's like to live on Oahu
Dive into the world of Oahu and discover the unique blend of natural beauty, rich culture, and modern living that makes this island a true paradise. Find out how you can experience the laid-back lifestyle, exquisite cuisine, and thriving communities that are the hallmarks of Living on Oahu. Click through to learn more about the island's hidden treasures and how to make your dream of island life a reality.
Immerse yourself into the best golf course communities in Oahu, where you can experience luxury living and world-class golfing on the Gathering Isle. From Ko Olina resort in Kapolei to on the Big Island to Turtle Bay on Oahu's North Shore, we've compiled a comprehensive list of prestigious communities that cater to the golf enthusiast's dream lifestyle. Unveil Oahu's most stunning golf courses, exclusive amenities, and exquisite homes by clicking through to our in-depth blog. Immerse yourself in paradise and find your perfect golf retreat today.
Navigating Oahu's short-term rental laws can be challenging, but it's essential to be aware of the regulations to avoid potential issues. Our in-depth blog explores the rules governing Airbnb and other short-term rentals on Oahu and highlights prime locations for legal Airbnb investments, such as Waikiki, Turtle Bay, and Ko Olina. Discover the best opportunities for short-term rental properties and learn more about the market by clicking through to our comprehensive guide.
Learn more about the often-overlooked realm of real estate: foreclosures. These properties, each with its own tale, present unique opportunities for homeowners and investors alike. Are you curious about the world of Oahu foreclosures? Intrigued by the possibility of securing your own piece of paradise at an alluring price? Whether you're a seasoned investor or a newcomer eager to decipher the secrets of this market, our comprehensive guide to buying Hawaii Foreclosures on Oahu awaits.
Uncover the most luxurious neighborhoods in Oahu with our captivating blog post that takes you on a journey through the Oahu most sought-after communities. Find out what makes these neighborhoods stand out with their stunning properties, pristine beaches, exclusive amenities, and exceptional lifestyles. Gain insights into the local culture, activities, and market trends to help you make an informed decision on where to find your dream home in paradise. Click through to our comprehensive blog and get ready to be inspired by the opulence and beauty of Oahu luxury homes for sale.
If you're looking for a hillside home with breathtaking ocean views on Oahu, look no further! This blog covers the best neighborhoods on the island for those seeking a tranquil and prestigious atmosphere. From Hawaii Loa Ridge to Pupukea, Oahu offers a diverse range of neighborhoods with stunning coastal panoramas. Whether you're looking for a luxurious retreat or a peaceful hideaway, these Oahu communities offer a diverse range of options to suit your needs. Click through to learn more about these captivating hillside treasures and find your perfect ocean view home in paradise.
Dreaming of owning an Oahu beachfront condo or home in Oahu? Join us as we delve into the most desirable neighborhoods offering breathtaking oceanfront properties. From iconic North Shore to the tranquil Windward Coast, we'll introduce you to the finest locations for beach living on the island. Click through to explore these picturesque neighborhoods and find your dream beachfront home in Oahu today!
Are you a non-resident or foreign investor looking to purchase Oahu real estate? It's crucial to understand the tax implications of HARPTA and FIRPTA before you proceed. Our informative blog post provides a comprehensive overview of these taxes, their potential impact on your investment, and the necessary steps to ensure compliance. Click through to our detailed guide and gain the knowledge you need to confidently navigate the complexities of HARPTA and FIRPTA when investing in Oahu real estate.
Understanding the differences between fee simple and leasehold property ownership is a unique element to consider when purchasing real estate in Oahu. Fee simple ownership provides the most comprehensive rights, while leasehold ownership comes with limited rights, additional costs, and potential risks. To make informed decisions about your property investment in Oahu, we encourage you to click through to our in-depth blog post, which explores the key aspects of fee simple and leasehold ownership, helping you navigate the unique real estate landscape in the Aloha State.
Learn about the various Honolulu property tax rates and how they can impact your real estate investment from a seasoned real estate agent's perspective. Learn the ins and outs of the tax system, exemptions, and strategies to navigate this essential aspect of owning property in paradise. Click through to gain valuable insights and tips to make informed decisions on your dream home or investment property in Honolulu.
Q: Can anyone buy real estate on Oahu?
In general, anyone can buy real estate on Oahu, regardless of their citizenship or residency status. Both U.S. citizens and non-U.S. citizens, including foreign nationals, are allowed to purchase property in Hawaii.
Q: Are Oahu real estate prices dropping?
A: The Oahu single-family home median price declined by 11% from February 2022 to $999,000--the third month-to-month decline and the second consecutive month that the median was below $1M since July 2021. Real estate market trends fluctuate over time, and it's essential to consult a local real estate agent or monitor recent sales data to get the most accurate and up-to-date information on current Oahu real estate prices.
Q: What is the average price of a condo in Oahu?
A: The Oahu condo median price decreased by three percent from 2022 to $480,500. The average price of a condo in Oahu varies depending on the location and market conditions. As of my knowledge cutoff in September 2021, the average price was around $400,000 to $500,000. Please consult a local real estate agent for the most current data.
Q: What is the average cost of a home on Oahu?
A: As of September 2021, the average cost of a single-family home on Oahu was approximately $1 million. However, prices may have changed since then, so it's important to consult a local real estate agent for the most up-to-date information.
Q: What part of Oahu is best to live?
A: The best part of Oahu to live depends on individual preferences, lifestyle, and budget. Popular areas include Honolulu, Kailua, Kaneohe, and the North Shore. Each area offers unique amenities, recreational opportunities, and community vibes.
Q: What is the cheapest place to live on Oahu?
A: Some of the more affordable areas on Oahu include Waianae, Ewa Beach, and parts of Central Oahu. However, keep in mind that real estate prices are subject to change, and it's important to evaluate current market trends.
Q: What is the safest city in Oahu?
A: Oahu has several safe communities, including Kailua, Mililani, and Hawaii Kai. To determine the safest city for your specific needs, consider factors like crime rates, access to emergency services, and overall quality of life.
Q: Where do millionaires live in Oahu?
A: Wealthy individuals often live in upscale neighborhoods such as Kahala, Portlock, Diamond Head, and Kailua Beachfront. These areas typically feature luxurious homes, stunning views, and exclusive amenities.
Q: Is it cheaper to live in Maui or Oahu?
A: The cost of living in both Maui and Oahu can be high, but it generally depends on factors like housing costs, transportation, and daily expenses. As of 2021, the cost of living on Oahu was slightly higher, primarily due to housing costs. However, this may have changed, so it's essential to evaluate current data.
Q: Why is Oahu housing so expensive?
A: Oahu housing is expensive due to factors like limited land availability, high demand, and the island's desirability as a tourist destination. Additionally, the cost of construction materials and labor is typically higher in Hawaii compared to the mainland. The housing shortage on Oahu is a pressing issue that has been exacerbated by factors such as limited land availability, an increasing population, and a booming tourism industry. With the island's growing demand for residential spaces, the supply of affordable housing has struggled to keep pace, leading to skyrocketing prices and fierce competition in the real estate market.
Q: Is Oahu a good place to buy a house?
A: Oahu can be a great place to buy a house, depending on your goals and priorities. Factors to consider include the local economy, job opportunities, lifestyle preferences, and the potential for long-term appreciation which averages out to approximately 6% per year.
Q: What are the most expensive areas to live on Oahu?
A: Some of the most expensive areas on Oahu include Kahala, Diamond Head, Portlock, and Kailua neighborhoods. These neighborhoods are close to some of the best private schools on Oahu, idyllic beaches, and offer stimulating lifestyles.
A: Generally, the cost of living and real estate on the Big Island is more affordable compared to Oahu. However, this can vary depending on the specific area and factors like housing costs, transportation, and daily expenses. It's important to evaluate current data and consider your personal preferences when choosing between the two.
Q: Do any celebrities live in Oahu?
A: Yes, several celebrities have homes or spend time in Oahu, drawn by the island's natural beauty and laid-back lifestyle. Some celebrities who have owned property on Oahu include Barack Obama, Jack Johnson, and Bette Midler. However, celebrities may value their privacy, so it's important to respect their space.
Q: Is Oahu a good place to retire?
A: Oahu can be an excellent place to retire, depending on individual preferences and needs. The island offers a warm climate, beautiful scenery, and a wide range of recreational activities. However, retirees should consider factors like the cost of living, access to healthcare, and proximity to family when deciding whether Oahu is the right fit for their retirement.
Q: What are the downsides to buying a home on Oahu?
A: Aside from having some of the highest real estate prices in the nation, the island of Oahu has nearly 1,000,000 residents. Living on Oahu can feel more congested than you might prefer, not to mention the affect it has on Oahu traffic.
Q: Why are Honolulu condo HOA's so high?
A: Honolulu condo HOA (Homeowners Association) fees are often higher than those in other areas due to a number of factors. Firstly, Hawaii is a remote island state, so much of the building materials, supplies, and equipment have to be imported from the mainland, resulting in higher costs.
Secondly, many Honolulu condos offer luxurious amenities and services, such as security, pools, and gyms, which require a significant amount of maintenance and upkeep. Additionally, the high demand for housing in Honolulu has led to the construction of many high-rise condo buildings, which also requires additional maintenance and upkeep. All of these factors contribute to the higher HOA fees in Honolulu condos.