January 2026 Market Data
To start 2026, a total of four multifamily properties (5+ units) traded, representing $11.16M in total volume. The median price per unit came in at $278K, with a median cap rate of 5.61%. Notably, three of the four transactions were value-add opportunities, while one represented the back end of a flip. This activity reinforces that investor demand remains strong across both repositioning plays and turn-key investments.
Download Sales Comps Below
Inventory Snapshot
The market is currently supported by a steady supply of available listings, with 65 properties (5+ units) currently listed, representing approximately $244 million in total consideration. Among active listings, the median price per unit is $293K, with a median cap rate of 4.49%, while median days on market stands at 215 days, reflecting an extended marketing period of roughly seven months for available assets.
This level of inventory continues to underscore a more competitive and selective environment, where pricing discipline and strategic positioning are critical to attracting qualified buyers. For owners considering a 2026 sale, now is the time to evaluate current value, align expectations with market realities, and explore exit strategies early, while capital remains active, but increasingly measured in its deployment.
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: Protecting Your Assets
With the recent floods and property fires across Hawaii, it’s a timely reminder that multifamily ownership isn’t just about maximizing returns, it’s also about protecting what you’ve built.
Insurance is no longer a “check-the-box” expense. It’s a critical component of your investment strategy.
Too often, owners focus on premium costs without fully understanding their coverage. But in today’s environment, being underinsured or improperly insured can be far more costly than the savings on a lower premium. Events like flooding, fire damage, and even loss of rental income can significantly impact your cash flow and long-term property value.
For multifamily owners, it’s important to regularly review:
- Replacement cost vs. actual cash value coverage
- Loss of rents/business interruption protection
- Liability limits
- Specific exclusions (especially flood and fire-related risks)
As we’ve seen locally, these events are not hypothetical they’re happening. The right coverage ensures that one unexpected event doesn’t derail years of investment progress.
If you haven’t reviewed your policy recently, now is the time. A quick check-in with your insurance advisor can help ensure your assets and your income are properly protected.
Multifamily in the News
Developer Chosen for TOD Affordable Housing Project in Kalihi
Honolulu City Council Pauses Affordable Housing Bill
Hawaiian Council Buys 12-Unit Apartment Building
Networking Events
CCIM Breakfast with Blackstone
CCIM UH Baseball Networking
Mahalo for spreading the wealth of information! Share this market update with your network! | 
