Big Island Real Estate Market Update – September 2025

The Big Island real estate market update September 2025 reflects a cooling in total sales but a sharp increase in dollar volume—driven by luxury transactions and high-value properties.

According to the Hawai‘i Information Service MLS:

• Total Sales: 293 (down 21.8% YoY)

• Year-to-Date Sales: 3,281 (down 3.1% YoY)

• Sales Volume: $271.8M (up 57.7% YoY)

• Median Sales Price (All Types): $590,000 (up 6%)

Despite fewer overall sales, stronger luxury activity pushed total dollar volume significantly higher compared to 2024.

Property-Type Breakdown

Property Type	2024 Sales	2025 Sales	Change	Median Price	YoY % Change
Residential	148	171	+15.5%	$590,000	+6.0%
Vacant Land	117	134	+14.5%	$54,500	+2.8%
Condos	27	49	+81.5%	$640,000	–11.0%
Commercial/MTF	1	3	+200%	$1.43M	+44%

Key takeaway: While the number of transactions dropped overall, the Big Island’s high-end market is thriving—luxury sales in Kohala and Kona lifted the island’s total volume nearly 60%.

Sales Volume Breakdown

• Residential Volume: $156.37M (+23.3%)

• Vacant Land Volume: $36.85M (+185.6%)

• Condo Volume: $73.19M (+131.4%)

• Commercial Volume: $5.38M (+444%)

• Total Year-to-Date Volume: $2.19B (–8.9% YoY)

The spike in land and condo volume shows revived investor interest in development and resort properties, even as affordability remains a concern for first-time buyers.

District-Level Highlights

Puna:

• 62 homes sold (–10%) with median $369K (–7.8%).

• Land median $40K (–21%), but still high demand from local and off-grid buyers.

South Hilo:

• 23 home sales (–4%), median $675K (+12%).

• Land median $332K, up in activity but mixed pricing.

Hāmākua:

• 6 home sales (+100%), median $615K (–8.9%).

Kohala Region:

• North Kohala: Median home price soared to $1.59M (+368%) on just 8 sales.

• South Kohala: Home median $897.5K (–17%); condo median $1.4M (+16.7%).

Kona Districts:

• North Kona: 35 homes sold (+21%), median $1.295M (–6%). Condo median $597.5K (+9.9%).

• South Kona: 5 homes sold (–29%), median $620K (–8%).

Ka‘ū:

• 12 home sales (+9%), median $295K (–18%). Still the island’s most affordable district.

Housing Trends Driving the Big Island Real Estate Market Update September 2025

• Rising Rates, Selective Buyers: Higher interest rates keep entry-level buyers cautious, while cash and equity buyers dominate higher tiers.

• Luxury Momentum: Resort and waterfront areas, especially in Kona and Kohala, continue to lead price growth.

• Vacant Land Surge: Strongest September land sales since 2021, driven by off-grid and small developer interest.

• Condo Softness = Opportunity: Median condo prices down 11%, opening doors for buyers in Waikoloa, Kona, and Kohala resorts.

What This Means for You

• Buyers: Inventory is increasing and days on market are stable, giving you time to compare and negotiate. Land and mid-range homes are your best opportunities for value.

• Sellers: Well-priced homes—especially under $1M—are still moving quickly. Stage your property, invest in curb appeal, and stay flexible on terms.

• Investors: Condo and land sales volume doubled, signaling continued potential for rental and development returns.

• Homeowners: Even with fewer transactions, median prices climbed +6%, showing Big Island equity remains strong.

Ready to Make a Move?

Team Alaka‘i specializes in Hawai‘i Island real estate—from first-time buyers in Hilo and Puna to luxury investors in Kohala and Kona. We’ll help you interpret these trends, uncover hidden opportunities, and navigate your next move.

Why the Big Island? If O‘ahu, Maui or Kauai feels out of reach, the Big Island continues to offer some of the most affordable single-family homes and buildable lots in Hawai‘i. Whether you’re upgrading, investing, or just dreaming of space and fresh air, this is your chance to own a piece of paradise.

Click the banner below to schedule your free consultation and see what making the move to the Big Island could look like for you.