<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=131147930823002&amp;ev=PageView&amp;noscript=1">
Advertising & Editorial Policies

Thanks to low mortgage rates, it's an excellent time to buy or sell a home across the U.S. But what about in Hawaii?

Is the state's housing market too pricey for buyers? Not-so-great if you've got a home you want to sell? Or just right — for everybody?

Home values provide some answers. They indicate that the market in Hawaii is cooling off, according to Zillow, though you might find vast differences from one city or one corner of the state to the next.

Current home values in Hawaii

Home values have been flat throughout Hawaii and are up 0.05% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $616,600, Zillow says.

Could you afford that? Let's say you want to buy that mid-priced home using a 30-year fixed-rate mortgage at this week's average interest rate, which is a low 3.57%, says mortgage company Freddie Mac.

With the 30-year mortgage rate at 3.57% and the median home price for Hawaii at $616,600, a representative monthly mortgage payment would be $2,793.

How the Hawaii housing market stacks up

Skyline of Honolulu, Hawaii and the surrounding area including the hotels and buildings on Waikiki Beach
Izabela23 / Shutterstock
Skyline of Honolulu, Hawaii and the surrounding area including the hotels and buildings on Waikiki Beach

Property values in Hawaii are high by historical standards and are higher than what the typical house is worth nationwide.

The median home value throughout the U.S. is $229,600, which is up 4.88% from a year ago.

Zillow predicts U.S. home values will rise 2.2% over the next year, while in Hawaii, they're expected to rise 6.20%.

Homes are going on the market in Hawaii at a median price of $501 per square foot, versus $155 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Hawaii home prices over the last 10 years

Year Avg. Price
2019* $733,125
2018 $723,717
2017 $687,908
2016 $652,383
2015 $614,058
2014 $583,592
2013 $541,167
2012 $502,158
2011 $491,642
2010 $505,392
2009 $514,550

*2019 price average through August 2019.

How much for an average-sized home?

Here's what a 2,500-square-foot home in Hawaii is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2019* $1,252,500
2018 $1,260,000
2017 $1,200,000
2016 $1,147,500
2015 $1,067,500
2014 $1,020,000
2013 $957,500
2012 $885,000
2011 $870,000
2010 $895,000
2009 $880,000

*2019 price average through August 2019.