Cost of homeownership on Oahu reaches record-breaking high

Local News

Oahu single family home prices hit an all-time record high last month, with the median sales price at $810,000.

The Honolulu Board of Realtors says that is an increase of three percent from a year ago.

Real estate experts say low inventory and high demand are still the main factors driving the price higher. 

At that price, the homes that are available are mostly in Central and West Oahu.

“But you start to come out toward the east side, Kailua, Kaneohe, Hawaii Kai, Pali, town, Nuuanu, Salt Lake. If you could get something for $800,000, it’s probably going to be a fixer-upper. You probably have to put a lot of money into it,” said Richard Cricchio, Help-U-Sell Honolulu Properties.

In town, a four-bedroom house in the Kapahulu area is listed at nearly a million dollars.

Condominium prices also went up nearly two percent with the median sales price at $427,000.

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