August - 2025 Market Data
In August 2025, two multifamily properties traded in Hawaii, a 10-unit property on Kapiolani Blvd. and a 6-Unit property off Kapiolani Blvd. totaling $4.5 million in sales volume. These properties were on the market for an average of 224 days. The median price per unit was $275K, while the median cap rate was 4.38%.
Download Sales Comps Below
Inventory Snapshot
The current Hawaii multifamily market remains active, with 72 properties (5+ units) listed, representing $259 million in total consideration. The median price per unit stands at $296K, and the median cap rate is 4.31%, while the average days on market is 197, reflecting the typical sales cycle for available assets.
Investor demand remains steady, with 12 properties currently pending, totaling $43.7 million in consideration. This indicates that well-priced assets continue to attract buyers even as the market balances seller expectations with buyer criteria. With interest rates being a major hurdle throughout the year, we expect to see some relief in the near term as the yield on the 10-year note dipped below 4.0% in October, for the first time since April ’25. We predict another key rate cut by the FED by the end of the year.
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: How to Prepare Your Multifamily Asset for Sale
Preparation is everything. From organizing clean financials and updating your rent roll, to addressing maintenance items, improving curb appeal, and highlighting rent upside, these steps can meaningfully impact sale price.
1. Review Financials & Rent Roll Accuracy
Accurate & well-organized financial records are essential.
-Clean up your profit & loss statements to reflect true operating performance.
-Provide a complete rent roll with lease terms, deposits, and expiration dates.
-Resolve discrepancies in income & expenses to build buyer confidence.
2. Address Deferred Maintenance
Tackle repairs & upgrades that could deter buyers:
-Fix plumbing leaks, HVAC issues, broken windows, or outdated fixtures.
-Replace tired flooring or finishes in high-traffic areas.
-Ensure all units are compliant with health and safety standards.
3. Boost Curb Appeal & Common Areas
Make a strong first impression with these upgrades:
-Power wash the exterior and refresh landscaping.
-Repaint unit doors, trim, or railings.
-Upgrade lighting, mailboxes, or building signage.
4. Evaluate Rent Upside Potential
Buyers love a clear path to added value:
-Implement modest rent increases where applicable.
-Bring under market leases closer to current market rates.
-Provide nearby rent comps to demonstrate future potential.
5. Assemble Key Documentation
Make due diligence easier by organizing key records:
-Lease agreements, tenant ledgers, and rent rolls.
-Utility bills, vendor contracts, and service agreements.
-Records of recent capital improvements and warranties.
6. Consult a Multifamily Advisor
An experienced advisor that specializes in multifamily property sales is a game changer.
-Accurately price the property based on current market data.
-Recommend cost-effective improvements to increase buyer appeal.
-Expose your asset to qualified buyers through proven marketing strategies.
At Excel Commercial Realty, we specialize in helping owners maximize the value of their multifamily assets. Let’s discuss how we can help you achieve your goals, contact us today!
Visit our Blog for More Tips & Best Practices
Check Out Our New Listing!
We’re excited to announce the sale of 219 Kalihi Street, Honolulu, HI. 96819, a 6-unit multifamily building consisting of all 2bd/1ba apartments situated on 9,514 SF of I-2 Zoned Land, listed at $2.788M – Click here to preview the property’s website!
Multifamily in the News
City Seeks Royal Kunia Affordable Rentals Project Developer
Affordable Housing Project Proposed for Hilo
Cost of Living Summit Focuses on Keeping Hawaii Young Professionals Home
10-Year Treasury Yield Drops Below 4%, lowest level since April ‘25
View Our Active Listings
1125 Hassinger Street
1223 Wilder Avenue
219 Kalihi Street
We truly value your referrals. If you know someone that is considering buying or selling a multifamily property, please connect us, we’d be honored to assist.
View our Client Success Highlights
Networking Events
CCIM Annual Cocktail Party
2026 CCIM / IREM Real Estate Forecast
CREW Hawaii: Anatomy of A Real Estate Deal
ULI Hawaii Liliuokalani Center Tour
Hawaii Multifamily Investors Network – Facebook Group
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This month Excel Commercial Realty celebrates its 1 year anniversary! We’re so grateful for your continued support and inspiration, it’s our goal to help your business grow! Cheers to many years ahead! | 
