Hawaii started 2024 with a total of 1,590 single-family homes on the market, with a median home price of $1,184,000 and an average price per square foot of $859.81. By the end of the year, inventory had increased to 1,996 homes on the market (+26%), with a median home price of $1,269,500 (+7%), and an average price per square foot of $973 (+13%).
At the start of 2024, the median days on market (DOM) was 84 days – by the end of the year, median DOM had increased to 98 days.
Hawaii started the year with 27.11% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 28.96% of homes for sale had taken a price cut.
