The local market update shows 3 areas having a 50% price increase from last year. Windward Coast takes the top honors with a 70% increase.
A few places have dropped in price.
For all the details please see our stats page at https://www.oahure.com/OahuRealEstateStatsIntro.php
Median prices of single-family homes stand at $1 million, condos at $500K.
Closed sales rose year-over-year with single-family homes ticking up modestly 10.4% and condo properties surging higher to 27.3%.
The median sales price for a single-family home fell slightly from the August 2021 record of $1,050,000 to $1,000,000, while the median condo price tied the August record of $500,000.
“The market appears to be holding steady, and the increase in closed sales for all properties is a welcome sign that Hawai‘i families are getting their offers accepted and moving into their homes,” said Shannon Heaven, president, Honolulu Board of REALTORS®. “Homeownership is about much more than simply owning a home. It poses many benefits including building equity and generational wealth and reaping the benefits of tax deductions and deductible expenses.”
These two charts really point to stagflation, where inflation goes up while the GDP declines.
The Atlanta Fed slashed GDP growth to just .2% down from 14% back in May. So as the expected GDP drops, the Citi Inflation Surprise Index is going up.
This points to stagflation in my opinion.
I posted the local market statistics.
Mililani and Aina Haina went up the most at a 36% increase since last year, but 5 other areas also were up over 30%.
As long as your salary has increased around 40% since last year you are staying ahead of inflation on homes. 
I see a local bank advertising a 6 month CD at 1.2%. That should help us keep up with the 30%+ increase in home prices. 
This rate of increase is good for those who are selling and moving to somewhere on the mainland where homes are less expensive.
You can view all the updated local stats at https://www.oahure.com/OahuRealEstateStatsIntro.php.
2 Out of Every 3 Single-Family Homes Sell for Over the Asking Price in September
Year-over-year market activity continues to mark gains, but month-to-month closed sales dip
Closed sales of single-family homes and condos in September continued to outpace sales activity from the same time last year, recording 8.4% and 34.9% increases, respectively. However, sales dropped slightly compared to August, with single-family homes down 0.2% and condos dipping 8.9%. The median price for a single-family home remained at $1,050,000, while the median condo price rose 7.4% year-over-year to $478,000.
Around 57% of single-family homes sold in September were priced at $1 million and above, and the most volume growth occurred in the $1,000,000 to $1,399,999 range, with more than double the sales as last September. Roughly two out of every three single-family homes sold last month closed above the original asking price. The practice of bidding over the asking price was most prevalent in the Ewa Plain region, representing more than 80% of the region’s third-quarter sales.
Sales of condo properties in the $700,000 and above price range more than doubled year-over-year with 129 closed sales compared to just 57 last September. Meanwhile, 39.6% of condos sold for more than the asking price in the third quarter, especially in the Central, Ewa Plain, and Makakilo regions, where this occurred in over 70% of sales.
“We’re seeing a slight decrease in total sales month-to-month as families focus on the return to the school year and prepare for the holiday season, which is typical for this time of the year,” said Shannon Heaven, president, Honolulu Board of REALTORS®. “Despite the modest dip in market activity, the majority of homebuyers continue to bid over the asking price in the hopes of securing a property to call home.”