Get ready for a spectacular celebration of Hawaiian culture, cuisine and crafts, as the annual Waikīkī Ho‘olaule‘a, part of the Aloha Festivals, is just around the corner. This lively event promises to be the ultimate block party on the vibrant Kalakaua Avenue, and you won't want to miss it!

Heading into fall, the economic outlook is generally positive for the Oahu real estate market. Mortgage interest rates are below 6.5 percent and will likely continue to edge slightly lower over the next several months. As rates come down, an increase in demand is expected, particularly among first-time homebuyers.

If you purchased a new home in the past year, don't forget to claim your Oahu Home Exemption by Sept. 30 to avoid paying a higher property tax rate.

The interest rate on a 30-year fixed-rate mortgage fell 6 basis points to 6.44% last week, according to the Mortgage Bankers Association. That's the lowest rate since April 2023! Mortgage rates have been trending down since the Federal Reserve's recent indication that they are set to cut interest rates in September 2024. Falling rates are welcome news for both buyers and sellers, and create a unique window of opportunity in Hawaii's highly competitive real estate market.