Oahu Market Update
O‘ahu Housing Prices Dip Modestly Compared to 2023
More than a quarter of single-family homes sold in May in the $899,999 or less price range
Single-family home sales in May fell 5.0% year-over-year and month-over-month, while condo sales increased 9.1% year-over-year and 10.9% from the previous month. Median sales prices for both single-family homes and condos saw a slight decline compared to May 2023. Single-family homes ended the month with a median price of $1,085,000, reflecting a 2.2% decrease year-over-year, while the condo median price of $495,000 marks a 2% dip year-over-year. However, year-to-date median prices for single-family homes and condos experienced a modest increase of 2.4% and 1.0%, respectively.
Source: Honolulu Board of Realtors
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My Recent Testimonials
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“He is good at everythin.... Every question has a good answer Evry txt ar call have been answered Over all is quality excellent”
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“Joshua Mun helped me hone into what I reallly wanted, usinghis local knowledge and contacts to find a place and that suited my needs perfectly. He was very organized and professional, scheduling mulitple showings and appointments to get as much done as possible during after work hours. He provided check lists and recommended renovation contractors and services, and was very easy to communitcate with addapting to my needs. A seasoned agent, well beyond his years! Aloha and Thanks Johsua! Cheers, Karl”
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“Joshua displayed a good working knowledge of the real estate market in my district. He was always prompt with his replies to questions and concerns. He was receptive to my input and desire to negotiate fairly. We had a tough market to deal with and the building was about to have an elevator renovation as well as top to bottom painting done. So the conditions just prior to these events were not exactly terrific when first impressions count the most. Interest rates were high so the buyers were choosy. This put downward pressure on pricing but in the end we got a great price. Joshua never gave up and kept to his word. He displayed a keen business skill when it counted the most. I would use his services again. You can count on his good work ethic.”
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“Joshua is a professional real estate agent who is most knowledgeable the current market and able to assist me anything relate to inspections, repair or getting my place ready for me to move in after purchase my condo. I learned so much about purchasing a condo in Hawaii while I was working with Joshua and his team since I just moved to Hawaii 15 days ago when I met Joshua. He is hard worker and very honest agent whom I will recommend to anyone in the future.”
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“We met Joshua at an open house (he was representing the seller at the time) when searching for a home and he impressed us with his professionalism and transparency. He was able to answer all of our questions and even went out of his way to explain the finer details of the home buying process. From that point onward, we felt comfortable with Joshua being our realtor. His knowledge of the market and attention to detail is what stands out. Upon finding a new home, Joshua followed up with the developer and lender on our behalf and ensured we had a smooth closing. His prompt action saved us from a potential delay and we are truly grateful. Overall, Joshua is an outstanding realtor and provided us with top notch customer service. He really does go above and beyond to help his clients. We are extremely satisfied with the purchase of our new home and it couldn't have been accomplished without his help and hard work.”
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“Joshua was very patient with us throughout our home buying process. Because of the competitiveness of the housing market, we weren't able to close on a house for over 9 months. Through that time he sent us listings almost daily, texted us at least weekly, and attended multiple showings and open houses with us and assisted us in placing several offers that didn't go through. He spent hours on the phone with us explaining everything when we did submit offers and never made us feel rushed or pressured into making a decision that we weren't ready for. He was incredibly knowledgeable about the market and gave great advice regarding our offers when we put them in. He made himself incredibly available to us and worked around our busy schedule including many after hours and weekend phone calls and visits. We would highly recommend him to anyone looking to purchase a home.”
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“We were very unsure about purchasing a home in Hawaii and lucked into having Joshua Mun as our realtor. He quickly put us at ease and was quick to provide options based on our needs and desires for a home. Although we weren't able to see any of the homes in person, Joshua did everything possible for us to see any details of the homes that we wanted to see. He answered all questions and referred us to a variety of other professionals that helped us out through the process. Once we found the perfect home, Joshua and his team broke down the process for us and ensured a constant flow of communication. This has been without a doubt the best homebuying experience we have had and would definitely recommend Joshua to family and friends.”
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“We can’t speak highly enough of our experience with Joshua Mun. We were new in Hawaii with zero knowledge about the area and how to find the right place. Given a short amount of time to move to Hawaii from CA and trying to buy a home during COVID pandemic in a rocket high demanding market is absolutely tough and stressful. We were so fortunate that we found Joshua who was very responsive on assisting us to find the right home. Joshua was super patient on showing us all potential properties that match our preferences. He is also very knowledgeable and informative to compare all the properties and provided us a truly professional advice on making offers. I will have to write a short novel on what he had done to assist us and how great he is. His greatest attribute is he will patiently listening to your needs and inquire, then he will ask provoking questions to ensure he finds what you really want. Joshua also has an extensive network with all kind of services that he pretty much help me to take care all issue and needs for the new home, not limited to, but including home owner insurance, home security system, house renovation and upgrade, and etc. He also communicated well and frequently with my lending bank in a timely manner to facilitate a smooth mortgage transaction to ensure closing on time. He even assisted me on the admin stuffs in the loan process, like printing, scanning, transforming a document to e-sign format for me to easily access and sign, and returning it back to the lender. Joshua is a truly ONE STOP PREMIER AGENT who you need to buy and close a home in Hawaii!!! We can’t thank enough what Joshua has done for us. He even prepared us a Champagne and house warming gift on my closing day. He is super detail oriented and friendly that he became the first friend we have in Hawaii. He has our highest recommendation for all of you and you will never regret to work with this exceptional trustworthy agent on the island!”
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“Joshua was great to work with and really helped up along the way. Very polite and was there when we needed him for showings and transaction help. We would highly recommend Joshua to others.”
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“My wife and I first met Joshua in 2018 at an open house as we were first starting our search to buy a home. Although we didn’t find anything immediately and took a pause in our search due to our busy schedules and Covid, Joshua maintained contact through regular emails on current listings and occasional calls to see if we had any questions about the market or properties. Over the past three years, he did not try to hard sell us on any particular property or location, but listed carefully to understand our thought process, answer of our (numerous) questions, budget and how we were evaluating opportunities to help us refine our search and identify opportunities. Joshua is an exceptional realtor. He builds relationships with his clients to be a trusted advisor in the buying process. • When we started our search Joshua is very knowledgeable on local market dynamics, practices and economic conditions. He was quick to provide comparisons on current listings and recent sales, including condition, location and demand for the property we were considering • He was very honest and told us when he felt we needed to reevaluate our offers or expectations based on current availability, budget and current market conditions. He was not afraid to share his opinion, even though it may have been contrary to our own. It helped us to think through our priorities more thoroughly so we could make the best possible decision • While viewing condos, Joshua paid close attention to details that could be easily overlooked such as overall fit-and-finish of cabinets, countertops and appliances, quality of fixtures and materials, small ceiling cracks, location of parking and garbage chutes • Joshua was extremely patient in discussing pros/cons of each property, comparables and offers we were submitting. Since this was our first time purchasing a home in Hawaii, he took all the time needed to explain things thoroughly to our comfort and satisfaction. His knowledge of market conditions, insights, experience and guidance was invaluable • Joshua was available at all times during the day to accommodate my schedule, often taking calls or responding to texts late into the evening. We appreciated how quickly he answered our questions to give us time to formulate our next move • Throughout the offer and closing process Joshua kept us fully updated on the timeline and what was expected at each step (e.g. reviewing and approving documents, completing forms, inspections, payments, etc.). He explained the purpose of each document and items to be aware of or take into consideration. We didn’t have to track deliverables on our own since Joshua was there to assist and make sure things were done on time • During and after closing, Joshua helped us with any questions we had for our previous and new condo association for planning our move. He helped us reserve move-out/move-in dates, pre-move paperwork, provided recommendations for movers and contacted cleaners and others to make minor repairs to the unit. Joshua took a personal interest in our success and showed in the level of service we received. We have no hesitation in recommending Joshua to anyone looking for a real estate agent.”
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“Being born and raised on Oahu and falling in love with what I grew up with, I've always known that I wanted to come home after graduate school to pursue a career. With knowing how saturated and crazy the housing market is in Hawaii, the idea about owning property seemed to be way out of reach for at least another couple of years. My mother suggested looking around at open houses just to get an idea on what I could potentially afford. As a first time homebuyer, I had zero knowledge of where to even begin. We stumbled upon an open house and that's where we first met Joshua Mun. He introduced himself in a very professional manner and wanted to get to know me and my background. After meeting each other at the first open house, he provided me with a booklet on the process of purchasing a property and the statistics/logistics of the housing market in Hawaii. He asked me specifics on what I was looking for in a first home and he complied a list of potential places that met my criteria. After visiting the prospective property multiple times, I knew I wanted to make an offer. Joshua went above and beyond to put in a good word for me with the seller, as there was an additional offer for the property. Because of him, the seller was able to sympathize with me in being a first-time homebuyer and the seller went with my offer. Joshua walked me through the escrow and inspection process very thoroughly and laid out the steps that I needed to take in order for everything to go smoothly. The constant communication and updates were so helpful and insightful. Upon closing on the property, he found out that there was an additional parking spot available in the building for rent. He knew that an additional parking spot was one of my ideals, so he went out of his way and inquired with the seller to reserve the parking spot for me, so I was able to use it right away after receiving the keys. In fact, he traveled through a big storm just to hand me my keys; that is when you know you're working with a relator that will do anything for their clients. Even after closing, he has reached out to me asking if there are any other questions and he's always available if there are any concerns. From start to finish, Joshua has been a pleasure to work with and made my first home-buying experience effortless. I will highly advocate and recommend working with him for any future home purchases.”
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“Joshua Mun helped us purchase our first home. At first I knew nothing about what I needed or how to even prepare to purchase a home. So through the years Joshua has coached, and guided us through the process. He has done an amazing job working with us, explaining the process, and to help with our first purchase. I would highly recommend Joshua for your purchase because he's attentive to your needs.”
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“Joshua was the best agent we didn't expect to meet, but the agent that we needed. The stars aligned and Joshua was able to help me find my ideal condo and negotiate a favorable price for us. He ensured that we were always on top of our documents, deadlines and important things to know, and did so with the utmost professionalism, transparency and understanding for a first time home buyer. I would highly recommend Joshua for anyone buying or selling and he will for sure be my agent of choice moving forward with any future real estate transactions. You can not go wrong choosing Joshua for your real estate needs!”
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“From first contact though closing of our new home Joshua was extremely responsive and helpful. I tend to ask a lot of detailed questions, but Joshua was more than patient and always answered to the best of his ability. I appreciated how Joshua went about helping us to find a home and the follow through he demonstrated during the entire process. He helped not only facilitate the sale in escrow, but also to line up vendors for me to do work around the new house that I wanted before we moved in. I would highly recommend Joshua to anyone looking to purchase a home.”
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“Joshua has gone above and beyond, as has the agency. He is approachable and highly knowledgeable of the area and buildings. We purchased remotely as first time home buyers and had complete clarity of the process because of Joshua. Everything went smoothly, and when any obstacles came our way, he patiently and effectively helped us get through them and make the purchase. Highly recommend Joshua and the agency.”
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“I WOULD RECOMMEND JOSHUA MUN TO ANYONE THAT REQUIRES A DETAILED, QUALIFIED ASSESSMENT, AN HONEST OPINION OF POTENCIAL SALE OR PURCHASE OF REAL ESTATE.”
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“Josh is the best broker ever. He provided me recommendations and suggestions to make the home buying process smooth. This is my first home and I really appreciated working with someone so nice, accurate, and reliable. Josh goes above and beyond in all aspects. I'm really lucky to have met and was able to work with such a professional and amazing broker like Josh. I will recommend Josh to everyone I know. He is skilled and knowledgeable about his profession. I wish Josh would sell houses everywhere in the world and not just Hawaii. I would definitely buy more house with him. In the future, I will always choose to work with Josh. He is the best broker hands down and second-to-none. Also, I am writing this review as an impartial person. I did not know Josh before this. I just want to say if you want to buy a home in Waikiki and have a great experience then you should go with Josh too.”
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“Mr. Mun as an individual and a Realtor Agent was from the onset, a completely unknown to me. I was uncertain of myself ever becoming a homeowner too, but he rekindled my lack of self assurance in a manner that allowed an eventual rethink. During the months after our first initial sit down and actualize, I continued to confront my confidence and initiative based lack of effort. Mr. Mun did keep tab on me by allowing me insightful endeavors and accomplishments with Better Homes and Gardens. When I was ready to further identify with home ownership, Joshua gave his utmost. I was astonished, even grateful at in every sense. I began to understand measure for measure, his guidance. And, Joshua continues to help and provide assistance during this, my adaptive yet conditional stage of settling in. I believe Joshua’s integrity stems from a similar background to mine, that of hard working reliance. I recognize many traits and his personality can’t be reproached begrudgingly. I’d readily recommend this young man to any of my family or friends on the basis of professionalism and expertise. I highly regard his laurels and I’m sure he doesn’t rest upon these unduly. Truly, William Cortez, Jr.”
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“To say the Josh went above and beyond is a tremendous understatement! We first met Josh about a year ago when I was just browsing and found a property I had some questions about. Josh was the point of contact for that property and answered my 10,000 questions, and spent a significant amount of time answering those questions thoroughly, as well as educating me on various aspects of the home buying process. I was very upfront with Josh that I was looking for a very specific property, in a very specific location, and with a very specific budget. I also told Josh that I just signed a rental lease and was not super serious about buying at that point in time. Josh never treated me like I was an inconvenience. He was extremely patient, kind, knowledgeable, forthcoming, and honest. He spent a lot of time showing us properties throughout the year, and never expressed frustration when we didn't like those properties or nitpicked every detail of each property we saw. Josh was constantly doing research for us on various properties to fine tune his understanding of our needs. Finally, he found the very specific property, in our very specific location, for our very specific price (actually WAY under our allocated budget). He stayed in constant contact with the seller's while we figured out if we were going to put in an offer. He literally drafted 10 drafts of our offer, again always patient and communicative. The purchase of our property went above and beyond smooth, and I whole-heartedly believe it is because of Josh's attention to detail. He masterfully coordinated every inspection and meeting to ensure all deadlines would be met on time. During our signing, he even entertained my 2-yo daughter so we could be fully present while signing. Also during Escrow, Josh set up quotes for various vendors for our remodel. He often came to the property several times a week to let various vendors in for measurements. He helped educate me on what to expect and what reasonable quotes would be (which he was always spot on with his estimates). Even after our sale was complete, he continued to suggest vendors, and coordinate/confirm dates with vendors to begin our remodel, to ensure we were taken care of. We are so incredibly grateful for Josh and definitely regard him as a friend, rather than just a realtor. Thank you, Josh!”
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“I highly recommend Joshua Mun.”
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“Joshua was great from the very beginning. We weren’t really sure if we wanted to buy a home yet, but he was very patient with us and just wanted to give us information first. We were then pre-qualified to go house hunting and Josh was amazing! We had to look at over 17 places and he accommodated our busy schedule with his. He made anytime work, and was so easy to work with! He was very informative and knowledgable about the home buying process and what we would need to do for renovations if that’s what we preferred. He was very helpful all around. We had a few issues with the seller’s agent and other tenants/property manager, but he made everything go smoothly for us.”
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“As an off island purchaser, Joshua was my eyes, ears and brain in the search for the perfect apartment. He never disappointed, the perfect amount of information and space for consideration. I would work with him again and happily refer him to anyone who’s interested in buying a home on Oahu.”
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“Joshua was an excellent help with providing us with options. He understood our budget and knew the areas that would work for us. Joshua made our first home buying experience an educating, and enjoyable one. I would recommend Joshua because of how easy he made the process for us. we were a little intimidated of the process hearing stories from family that purchased homes and got a little worried. Joshua made us comfortable and there were no problems.”
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“Josh was great, very knowledgeable, and helpful. If I had any questions about a property, I could expect a call back from Josh within just a few minutes with an answer.”
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“A wise man once said, “The journey of a thousand miles begins with one step”. In our case, try 4,957 miles. You see, we had just recently moved last year from NYC to Honolulu with only a few suitcases containing our personal effects. We had no relatives nor any friends living on the island. It was just the two of us in an unfamiliar place. As soon as we arrived in Honolulu, knowing that we couldn’t live out of a hotel forever, we needed to reach out to someone who knew the island well and can help us find a rental apartment as quickly as possible Through a recommendation from one of my wife’s coworkers (which in and of itself is another story for another time), that is how we stumbled upon Joshua. When we first contacted Joshua, we did not realize that he does sales and that it would be another team that handled rentals. So we had thought he was going to transfer us to someone else. But to our surprise he wholeheartedly offered to personally help us without any hesitation. He could have easily turned us down and spend his time more profitably elsewhere, but we soon realized as we got to know him better that that’s just not him. If he can help you he will do so to the fullest. If I had to choose one of the many things that truly impressed us about Joshua, it would be this act of kindness and generosity. Even during escrow, when we could not physically be available to meet with vendors and inspectors, Joshua always stepped up and offered to meet them on our behalf. I’ve lost track now of how many times he’s done that for us. And this is not to mention the times when he drove us to various appointments because I did not have a car available to me. There are just no words in the English vocabulary that can adequately describe his genuineness. His true character is on display in everything he does. You will not find a more dedicated realtor than Joshua.”
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“We want to take this opportunity to recommend Joshua Mun to be recognized for the 2019 Realtor Awards Program. We were relocating from PA and NY for employment. We had one week to find a place to live then close in 35 days. Without having a realtor upon arriving in Honolulu and not knowing the area we began by scouting out open houses. On Sunday, January 26 we hit the ground running by mapping out 10 open houses. While reviewing the houses we spoke with each realtor explaining our unique situation and asking for them to basically drop everything and assist us for the next few days. Several realtors said they would be able to make us their top priority due to our strict timeframe but it was Joshua Mun that actually did it. We weren't even at the next open house when we were already receiving texts and emails from Joshua with houses to check out within our criteria. He did this on his own, even without him knowing whether or not we were going to work with him. Joshua truly made such an impression on us in such a short time we knew he was the one. So we cancelled all other potential realtors and selected Joshua as our realtor. We began the next morning seeing house after house with Joshua. He made us feel like we were his only client. After numerous appointments, emails, texts we put several offers in on houses. But Joshua didn't stop there he continued showing us places just in case they didn't come through in our time frame. That being said 4 days later Joshua found us our home. We were in contract by Friday, January 29th, opened escrow and went back to PA/NY Saturday morning with the reassurance Joshua was going to continue to represent us as if we were family. He was professional, knowledgeable and friendly. His work ethics went above and beyond anything we ever expected and have seen in a long time. For the next 35 days he responded to all our inquiries, kept us informed and reminded us of each deadline. If we needed anything Joshua was there. He made the process seamless. In this day and age trust is a big thing especially living 5,000 miles away and within a several minutes Joshua won us over. He proved to be trustworthy and dependable. Even after closing he didn't stop. He's checked in on us to see if he could be of any further assistance. We feel we not only were represented by a professional realtor, we made a friend in the process. We would highly recommend Joshua Mun to anyone in need of a realtor and definitely feel he deserves to be recognized for the 2019 Realtor Award Program. In the 35 + days Joshua Mun has gone above and beyond our expectations at every juncture of this process. This profession needs more realtors like Joshua Mun.”
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“Joshua Mun did well with attentive details when we visited various properties and he would point some things out to make comparisons and differences including locations. He also pours hard work to show his dedication and patience. Joshua is the most reliable realtor I have worked with and he is very responsive to any concerns or questions. I would recommend him if you want throughout details and clear communication especially with what you want in a home. He would certainly delivers it or he would search and tailors the search to your preference. he would offer different options to widen the home search.”
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“Joshua was a pleasure to work with, and truly went above and beyond. While assisting us with an out-of-state sale on a condo that had nothing going for it besides the view, he was available at just about any time day or night and he was willing to roll up his sleeves and personally help with any necessary work to prepare the unit for sale. He was excellent with communication and keeping us updated, and he was patient with all of our questions and concerns. Joshua is truly one who means it when he says he'll help in any way possible, and we are very pleased with his work.”
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“We met Joshua at an open house and he took the time to help us. He helped us find the best home for us. Overall a great agent who was knowledgeable, helpful and paid attention to detail. He helped us with everything from selecting a home, to mortgage, to closing. He even took time to help us find contractors for renovations. Joshua is a great person who takes pride in his work. He will not let you down and will help you purchase the home of your dreams.”
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“When my wife, Jackie, and I entered our 70's, we knew that the time was near when we would sell our 10th floor condo and move to a retirement home. In May, I started looking seriously at the market and walked into Better Homes and Gardens and asked to speak to an agent. Thus entered Joshua Mun and the rest is history. Jackie and I knew that we were no longer young and strong enough to handle a sale without considerable help, and it was quickly obvious that Josh was physically up to the task, but what about attitude, focus, and the organizational ability to run a long-term sales campaign? Well, he thought he could do it, and we thought he could do it, and he did it! In fact, he seemed to get stronger as the various, often confusing aspects of the sale progressed. Not a bad quality, especially in the business that requires the ability to multi-task and quickly put the right piece in the puzzle. He thinks his age will appeal to young people looking for a home, but I think his strongest point is the desire to help the elderly accomplish their real estate goals. Yes, Joshua sold our property ($10,000 over asking price). He will sell yours too. Bet on it!”
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“Joshua was extremely diligent throughout the entire process, from looking for condos, to negotiating a price, to inspections and closing. The entire process was seamless. Very impressed with attention to detail and professionalism. Will use Joshua for future purchases.”
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“EXCELLENT KNOWLEDGE IN THE REAL ESTATE PROCEDURES OF BUYING A PROPERTY. ABLE TO COMMUNICATE TO ME IN SIMPLE TERMS. EXCELLENT IN NEGOTIATING A SALES PRICE TO SAVE ME MONEY. VERY SHARP IN TAKING ME FROM START TO FINISH LINE IN A PROFESSIONAL WAY . ALWAYS ASKING ME TO ASK QUESTIONS IF I DIDN'T UNDERSTAND ANY PORTION OF THE SALES PROCESS. MADE ME UNDERSTAND EVERY LINE OF SALES CONTRACT BEFORE I SIGNED ANY AGREEMENT.”
