The Hawai’i Island real estate market continued its dynamic pace in May 2025, with both sellers and buyers navigating shifting conditions across single-family homes and condominiums. While sales volume dipped slightly in several areas compared to last year, opportunities remain strong for well-positioned sellers — especially in highly sought-after locations such as Kona, Kohala, and Kailua-Kona. Below, we break down the latest market data to help buyers, sellers, and investors better understand current trends.
Big Picture Summary: Hawai’i Island Real Estate Market Trends (May 2025)
May 2025 reflected both resilience and recalibration across the island:
- Overall single-family home sales: 170 homes sold (down 7% YoY).
- Median single-family home price: $545,000 (down 1% YoY).
- Condominium market strength: Condo median sales prices hit a new record of $837,500, driven largely by luxury sales in Mauna Kea, Mauna Lani, and Keauhou.
- Condo sales volume: 46 condos sold (down 39% YoY).
The market is witnessing an increase in lower price point single-family home sales while luxury condo transactions continue to elevate condo median pricing to record levels. Properties that are priced correctly and marketed professionally continue to go into escrow quickly, with many listings seeing short days on market.
Spotlight: Kona Real Estate Market Update (North & South Kona)
North Kona Market (May 2025)
- Single-Family Home Sales: 28 homes sold (down 32% YoY).
- Median Single-Family Home Price: $1.2M (up 5% YoY).
- Condominium Sales: 29 units sold (down 34% YoY).
- Median Condo Price: $663K (up 11% YoY).
Despite a dip in sales volume, North Kona home values remain strong with continued demand for premium properties. The consistent increase in median pricing suggests that well-presented listings continue to attract serious buyers, even with slightly fewer transactions overall.
South Kona Market (May 2025)
- Single-Family Home Sales: 8 homes sold (up 14% YoY).
- Median Single-Family Home Price: $898K (up 12% YoY).
- Condominium Sales: 0 reported.
- Vacant Land/Other Transactions: 3 (down 57%).
South Kona experienced notable growth both in sales volume and pricing, making it one of the few regions to show positive YoY gains on both metrics. The area remains attractive for buyers looking for more private, expansive properties while still benefiting from proximity to the greater Kona area.
Key Takeaways for Buyers and Sellers
- For Buyers: The market remains competitive, particularly for well-priced listings. With median prices still appreciating in many segments, buyers are encouraged to act quickly when desirable properties come to market.
- For Sellers: Inventory levels remain tight for premium, move-in-ready properties. Well-staged homes with strategic pricing are seeing strong activity, particularly in desirable Kona neighborhoods.
- For Investors: The condo market is seeing significant luxury demand, suggesting ongoing strength in resort and vacation rental sectors, particularly around Kailua-Kona, Waikoloa, and Mauna Lani.
Noteworthy Trends Across the Island
- Hamakua: Total sales up 300% YoY, though primarily driven by a small sample size.
- North Hilo: Total sales up 300%, albeit at lower price points.
- South Kohala: High-end condo transactions drove significant increases in condo median prices (+244% YoY).
- Puna: Remains the most active single-family home market with 79 homes sold (up 7% YoY), at a median price of $400,000.
FAQ: Hawai’i Island Real Estate – May 2025
Is the Big Island housing market slowing down in 2025?
The market is adjusting rather than slowing. While overall sales volumes are down slightly YoY, median prices remain stable or growing in several key submarkets like Kona and South Kohala. Demand for properly priced, well-presented homes remains high.
Are condos or single-family homes a better investment right now on the Big Island?
Luxury condos have shown strong price growth in 2025, setting new median records. However, single-family homes in Kona and South Kona continue to see healthy price appreciation and steady demand, offering long-term investment potential.
What is the median home price in Kona as of May 2025?
- North Kona single-family median: $1.2M
- South Kona single-family median: $898K
- North Kona condo median: $663K
How fast are homes selling right now?
- Island-wide median Days on Market (DOM) for single-family homes: 30 days (down 19% YoY).
- Condos are averaging 48 days on market (up 164% YoY), though luxury inventory has a longer absorption period.
Is it a good time to sell real estate on the Big Island?
Yes — particularly for sellers with well-maintained, appropriately priced homes. With inventory tight in desirable areas, sellers can still command strong prices, especially in Kona and South Kohala.
Final Thoughts
The May 2025 Hawai’i Island market data underscores the importance of hyper-local expertise when navigating Big Island real estate. While headline numbers suggest minor contractions, submarket nuances show ongoing strength — especially for those targeting Kona’s highly desirable neighborhoods.
If you’re considering buying or selling real estate in Kona or anywhere on Hawai’i Island, partnering with a local expert is key. As always, I’m here to help you navigate this evolving market with tailored advice, deep market knowledge, and data-backed strategies.