Ive been diving into theZillow Home Value Indexto analyze Hawaiis most impressive real estate performers.
What stands out in my analysis is the resilience of Hawaiis luxury markets despite global economic fluctuations.
Even during pandemic disruptions, these locations maintained their trajectory, with many accelerating dramatically in 2021-2022.
Home Stratosphere | Leaflet
The limited land supply combined with both domestic and international demand continues to create extraordinary appreciation potential.
I was particularly struck by the pattern of mainland migration fueling several markets on this list.
While values briefly dipped in 2023-2024, the bounce-back in 2025 suggests continuing market strength for long-term investors.
The financial trajectory shows remarkable acceleration during 2021-2023 with 37.6% growth, followed by continued appreciation through 2025.
The market showed particular strength during 2021-2022 (21.6%) as pandemic-era buyers sought more affordable Hawaii options.
The town experienced a slight 3.0% correction in 2023-2024 following the explosive 2021-2023 growth period.
The market showed extraordinary acceleration during 2020-2022, with values surging 37.8% during this period.
Kailua Kona
Kailua Konas 85.6% appreciation has generated nearly $400,000 in equity for property owners since 2016.
Located on Kauais sunny south shore with cooler elevated temperatures, Kalaheo offers both ocean views and agricultural opportunities.
The market showed particular strength in 2022-2023 with a 16.5% single-year gain.
The market demonstrates consistently strong performance, with particularly impressive 19.3% growth during 2021-2022.
The wealth-building trajectory accelerated dramatically during 2021-2022 with a 23.4% single-year gain.
The market showed extraordinary momentum during 2021-2022 with a remarkable 24.1% single-year gain.
The market consistently outperformed through economic cycles, with particularly strong 18.4% growth during 2021-2022.
Lihue
Lihues remarkable 93.0% appreciation has generated $404,928 in equity for property owners since 2016.
This market demonstrates consistently strong performance with no down years and continued momentum through 2025.
The financial impact is substantial$140,275 in equity gains from Hawaiis most affordable entry point on this list.
This market demonstrates remarkable consistency with steady year-over-year gains and continued momentum through 2025.
The market shows extraordinary consistency with no down years and continued strong momentum through 2025.
The market experienced explosive 30.9% growth during 2021-2022, followed by continued steady appreciation through 2025.
This premium market shows remarkable acceleration in recent years, with values surging 70.2% from 2021 to 2024.
