Let’s look ahead toward the spectacular events on the calendar in Hawaii. We’ll also explore what prospective buyers should expect for the real estate market there.
Events and Things to Do
Thanks to its perennially warm weather and breathtaking outdoor landscapes, Hawaii is a nature lover’s paradise with an abundance of activities throughout the year. As we begin 2024, let’s consider some of Hawaii’s premier events:
March brings the unmissable Honolulu Festival, serving as a vibrant showcase of the many cultures influencing the state’s capital and largest city. The event includes performances from across the Pacific Islands, a grand parade, and a world-renowned fireworks show.
Movie buffs can mark their calendars for the Hawaii International Film Festival’s Spring Showcase in March and the Fall Festival in October. These events highlight local creators and talented filmmakers from around the world.
The renowned Aloha Festivals, a series of festivities spread across the islands, attracts hundreds of thousands to celebrate Native Hawaiian culture. Typically held at the end of summer, the festivals feature parades, dances, delicious food, and traditional historical celebrations.
The delectable Hawaii Food & Wine Festival takes place in October and November. This foodie’s paradise features traditional dishes made by some of the islands’ finest chefs.
The Hawaiian Real Estate Market
Living in Hawaii comes with numerous benefits, from its stunning coastline and lush forests to Honolulu’s delicious culinary options and trendy shops. Undoubtedly, it stands as one of the most desirable places to live in the world. However, its lifestyle appeal also contributes to an immensely competitive real estate market.
Hawaii has consistently been the country’s most expensive state for real estate over the years. The state is relatively modest in size, and millions want to live there. Consequently, homeowners face limited options and high prices. Unfortunately, this is not likely to change as we enter 2024.
According to Redfin, as of the end of 2023, the median home sale price in Hawaii reached $756,600. Prices just continue to climb, even as home sales drop slightly. And the housing inventory in Hawaii is not likely to increase dramatically. This suggests that prospective buyers will continue to face premium prices. Still, considering all the advantages of residing in this gorgeous state, many are sure to find that the elevated prices are worth it.
