It’s getting obscenely expensive to buy a home or condo in Honolulu.
According to data from the Honolulu Board of Realtors, the median price of a single-family house in Honolulu in June was $760,000. The median price of condo during the same month was $405,500.
Both are historically high prices in a city where the demand for homes far outpaces supply, resistance to new development is fierce and homelessness is steadily increasing.
Kalama Kim, president of the Honolulu Board of Realtors, said in a press release that the median price of a home in June “was skewed a bit by the sale of 20 properties for $2 million or more.”
“Affordable homes are still available, as 124 of the properties sold were for under $700,000,” Kim said. “As for condos, 267 units were sold for under $400,000.”
Still, that suggests 200 single-family homes were sold for at least $700,000 and 281 condo were sold for at least $400,000.
Plus, given the relatively low salaries in Honolulu, a $600,000 home is still out of reach for many residents.
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