November - 2025 Market Data
In November 2025, four multifamily properties traded in Hawaii, totaling $15.77M in sales volume. The median price per unit was $232K and the median CAP rate of these deals was $5.24%. The notable sale of the month was 1438 Liliha St. Honolulu, HI., a 33-unit property that traded for $7.2M at a 6.53% CAP rate, the property was originally listed at $7.9M back in April ’25.
Download Sales Comps Below
Inventory Snapshot
The Hawaii multifamily market remains dynamic, with 57 properties (5+ units) currently listed, representing approximately $214 million in total consideration. It’s also worth noting that a number of properties were cancelled or temporarily placed on hold during the holiday period, as owners take time to reevaluate pricing, timing, and overall strategy heading into 2026. Of the properties on the market, the median price per unit is $310K, with a median cap rate of 4.5%, while average days on market stands at 201 days, reflecting a roughly 6–7 month sales cycle for available assets.
Investor demand continues to hold steady, with 10 multifamily properties currently under contract, representing $28.8 million in pending sales volume. This level of activity reinforces that well-positioned, realistically priced assets continue to attract committed buyers, and underscores the importance for owners considering a 2026 sale to begin evaluating value, market positioning, and exit options early, while buyer demand remains selective but present.
To receive our Hawaii Multifamily Inventory Sheet, which compiles all active listings as well as off-market opportunities into one convenient document, reach out to us directly to be added to the distribution list.
Owner’s Corner: 2026 Multifamily Outlook – Risks & Opportunities
While higher operating costs and selective investor demand continue to pressure values in 2026, strategic opportunities remain for well-positioned multifamily owners. Assets with strong in-place cash flow, clean financials, and light value-add potential are attracting the most attention. Owners are finding opportunities through rent optimization, controlling expenses, modest unit upgrades, and tax-efficient exit strategies such as 1031 exchanges and DSTs. With pricing now driven by actual performance not projections, this is an ideal time to understand where your property sits in today’s market and what strategic levers can enhance value.
Read our full 2026 Multifamily Market Outlook to explore the trends, risks, and owner strategies shaping today’s market.
View Our Active Listings
1125 Hassinger Street
1223 Wilder Avenue
219 Kalihi Street
Multifamily in the News
Affordable Housing Project to Open Near Ala Moana This Summer
Rent-to-Own Programs Could Help Tackle Hawaii’s Housing Crisis
Networking Events
2026 CCIM / IREM Real Estate Forecast
2026 Construction Outlook
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Wishing you all a prosperous 2026 ahead! | 
