The Pathway to Homeownership
Think achieving homeownership in Hawaiʻi is out of reach? Think again.
Owning a home offers benefits like building equity, tax savings, and stability. However, most people don’t start with their dream or forever home. The housing ladder often begins with renting and then progressing to buying a smaller home, allowing buyers to build personal wealth and eventually trade up—especially in Hawaiʻi, where home values continued to appreciate over time.
OVERCOMING MISCONCEPTIONS
Many believe that becoming a homeowner is out of reach for local residents. Don’t let that $1 million median home price deter you because Realtors are helping local buyers become first-time homeowners every month. The key is knowing where to look and how to navigate the process.
WHERE OPPORTUNITIES EXIST
Numerous properties sell each month that homebuyers obtain below the Oʻahu median sales price of $539,500 for condos/townhomes and $1.1 million for single-family homes. According to HiCentral MLS data, 2,202 homes sold for $500,000 or below in 2024, including 834 one-bedroom and 758 two-bedroom units. Of those properties, one-bedrooms averaged 563 square feet with a median sales price of $350,000, while the two-bedroom units averaged 796 square feet at a median of $420,000.
Homes for sale that meet the budget and needs of most first-time homebuyers are available in various market areas. As of January 31, 2025, there were 967 active listings priced at $500,000 or below, primarily in the Honolulu Metro region, followed by the Leeward, Pearl City, Central, and Waipahu regions.
THE PATH TO HOMEOWNERSHIP
The key to achieving homeownership in Hawaiʻi is patience, persistence, and working with the right professional who understands your goals and will help you find opportunities to enter the market and navigate the complex buying process.
Learn how the HOPE Homebuyer Education Program can get you on the path to homeownership and connect with a trusted professional at hicentral.com/hopehomebuyer.
