Waikiki—one of the top tourist destinations in Hawaii—is also home to a thriving real estate market. With easy access to world-famous beaches, shopping, dining and downtown Honolulu, Waikiki offers all the perks of island and city living, making Waikiki properties desirable for homeowners and investors alike. In this post are five charts prepared by Locations Research that provide a snapshot of Waikiki market activity in early 2024.

For the second month in a row, there were moderate year-over-year increases in Oahu home prices and sales in February 2024, indicating a steadily recovering market. Buyer demand is evident as we head into the spring and summer, and we expect a modest rise in prices and sales, provided borrowing rates remain relatively stable.

Who hasn't dreamed of waking up to the sound of waves crashing against the shore, with a panoramic view of the ocean right from their window? For many, this dream sums up the allure of owning a beachfront home in Hawaii, and the island of Oahu boasts some of the most picturesque shoreline properties. But before diving headfirst into this idyllic vision, it's important to address one burning question: Can I afford it?