The apartment building market is very slowly picking up momentum. Halfway through the year, there were three properties on Oahu that sold. This is about double the pace of last year. These mixed-unit projects from 8-16 units have been selling in a range from $156,000/unit up to $194,000/unit, depending on location, current rents, and amenities.
Activity is being driven by investor confidence that rents have leveled off and will not be dropping in the future.
Currently, there are 24 apartment buildings available for sale on Oahu. Of these 24 properties, 14 of them have been on the market for over 1 year.