HPI (2025)FHFA
376
State Series · West Region
Home Price History in Hawaii
FHFA all-transactions House Price Index for the state of Hawaii — annual data, 1975 through 2025, rebased to 100 in the year 2000.
YoY changeFHFA
+2.9%
5-yr changeFHFA
+46%
Since 2000FHFA
+276%
Hawaii's FHFA all-transactions House Price Index runs from 1975 through 2025. The state-level HPI, rebased to 100 in 2000, stood at 375.9 at the latest reading. Cumulative nominal appreciation since 2000: +275.9%.
The 2007–2011 housing crisis cut the Hawaii HPI by 19.2% peak-to-trough — from 224.4 in 2007 to 181.4 in 2011. The U.S. national HPI fell roughly 21% over the same window, so Hawaii's drawdown was in line with the national average.
The pandemic-era surge brought Hawaii's HPI from 257.4 in 2019 to 375.9 in 2025 — a +46.0% cumulative gain in 6 years, running near the national pace.
Hawaii sits in the West census region of the United States. Long-run state-level home-price appreciation reflects regional employment patterns, in-migration flows, and supply constraints. State-level FHFA series can mask significant intra-state divergence — see the linked metro pages below for sub-state breakdowns where available.
Metros in Hawaii covered by The Housing Almanac:
- Honolulu (national rank #56)
For the U.S. national context, see the national median price history or browse all 50 states.
Annual data — Hawaii
FHFA House Price Index, 2000=100. Annual data; not seasonally adjusted. Source: U.S. Federal Housing Finance Agency.
| Year | HPI (2000=100) | YoY change |
|---|---|---|
| 2025 | 375.92 | +2.92% |
| 2024 | 365.27 | +3.40% |
| 2023 | 353.26 | +6.79% |
| 2022 | 330.81 | +18.90% |
| 2021 | 278.23 | +8.05% |
| 2020 | 257.50 | +0.02% |
| 2019 | 257.44 | +2.94% |
| 2018 | 250.08 | +4.49% |
| 2017 | 239.34 | +3.63% |
| 2016 | 230.95 | +6.44% |
| 2015 | 216.97 | +5.49% |
| 2014 | 205.67 | +7.85% |
| 2013 | 190.70 | +4.44% |
| 2012 | 182.60 | +0.67% |
| 2011 | 181.39 | -1.83% |
| 2010 | 184.78 | -4.33% |
| 2009 | 193.14 | -10.55% |
| 2008 | 215.91 | -3.78% |
| 2007 | 224.40 | +1.73% |
| 2006 | 220.59 | +14.74% |
| 2005 | 192.25 | +26.61% |
| 2004 | 151.85 | +20.92% |
| 2003 | 125.58 | +9.38% |
| 2002 | 114.81 | +6.70% |
| 2001 | 107.60 | +7.60% |
| 2000 | 100.00 | +3.04% |
| 1999 | 97.05 | -0.96% |
| 1998 | 97.99 | -0.24% |
| 1997 | 98.23 | -7.81% |
| 1996 | 106.55 | -4.02% |
| 1995 | 111.01 | -1.84% |
| 1994 | 113.09 | -0.19% |
| 1993 | 113.31 | -0.40% |
| 1992 | 113.76 | +0.44% |
| 1991 | 113.26 | +9.91% |
| 1990 | 103.05 | +21.78% |
| 1989 | 84.62 | +25.64% |
| 1988 | 67.35 | +17.33% |
| 1987 | 57.40 | +8.12% |
| 1986 | 53.09 | +3.23% |
| 1985 | 51.43 | +4.64% |
| 1984 | 49.15 | +3.60% |
| 1983 | 47.44 | +13.79% |
| 1982 | 41.69 | +32.31% |
| 1981 | 31.51 | -30.66% |
| 1980 | 45.44 | +21.24% |
| 1979 | 37.48 | +26.84% |
| 1978 | 29.55 | +13.31% |
| 1977 | 26.08 | +7.28% |
| 1976 | 24.31 | +0.16% |
| 1975 | 24.27 | — |
Methodology
The FHFA House Price Index is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same single-family properties. The all-transactions index incorporates both purchase mortgages and refinance appraisals; the index is calibrated to the West census region and rebased to 100 in the year 2000.