Urban Honolulu Prices Rose 18.7%!

If you own your home, you’ll be pleased to hear that U.S. house prices rose 4.5 percent between the fourth quarter of 2023 and the fourth quarter of 2024. According to the recently released Federal Housing Finance Agency (FHFA) Report, prices grew at a slightly higher rate in the fourth quarter after three straight previous quarters of weaker appreciation.

That is good news for homeowners, especially if you own a home in Urban Honolulu, where prices rose 18.7% over the last year and 9.9% over the last quarter. Wow!

Significant Findings of the Report:

• Nationally, the U.S. housing market has experienced positive annual appreciation each quarter since the start of 2012.
• House prices rose in 49 states between the fourth quarter of 2023 and the fourth quarter of 2024.
• House prices rose in 92 of the 100 largest metropolitan areas over the previous four quarters. The annual price increase was the greatest in Urban Honolulu, HI at 18.7 percent.

If you already own property in Honolulu, consider yourself lucky. If you’ve been on the fence about real estate in Hawaii or elsewhere, keep in mind the many benefits of property ownership, including tax breaks, equity building, and a hedge against inflation, just to name a few.

And, of course, when it comes to Hawaii real estate, you stand to benefit more because of the following factors:

Strong Appreciation

Historically, Hawaii real estate has seen consistent price increases over time, offering potential for significant long-term capital gains.

Limited Land Supply

The limited land available on the islands helps maintain property values and prevents over saturation of the market.

High Demand

As a popular tourist destination, Hawaii experiences strong demand for both residential and vacation rental properties.

There are a lot of good reasons for you to buy property in Hawaii, and certainly, strong appreciation is one of them. But, appreciation aside, most people buy here for reasons that cannot be defined by a percentage rate. Hawaii’s natural beauty, cultural diversity,  and the Aloha Spirit continue to draw people here. And.Keep.People.Here. After all, there is no place like home in Hawaii.