I’ve been diving into the Zillow Home Value Index to analyze Hawaii’s most impressive real estate performers. My findings reveal 25 towns across the islands where property values have surged since 2016, with some markets nearly doubling or even tripling in value.
What stands out in my analysis is the resilience of Hawaii’s luxury markets despite global economic fluctuations. Even during pandemic disruptions, these locations maintained their trajectory, with many accelerating dramatically in 2021-2022. The limited land supply combined with both domestic and international demand continues to create extraordinary appreciation potential.
I was particularly struck by the pattern of mainland migration fueling several markets on this list. Many towns saw their strongest growth between 2021-2023 as remote work policies allowed buyers to relocate to paradise while maintaining their careers. This trend has created both realized wealth for existing owners and potential opportunities in communities that still have room to grow.
25. Honokaa
- % change from 2016 to 2025: 75.75%
- Home value in 2016: $354,408
- Home value in 2017: $379,461
- Home value in 2018: $401,040
- Home value in 2019: $407,841
- Home value in 2020: $427,901
- Home value in 2021: $481,248
- Home value in 2022: $574,342
- Home value in 2023: $623,633
- Home value in 2024: $612,340
- Home value in 2025: $622,880
Honokaa’s 75.8% appreciation since 2016 represents significant wealth creation, turning a $354,408 investment into $622,880 and generating $268,471 in equity. The property market experienced its strongest growth during 2021-2022 (19.3%), coinciding with the pandemic-driven surge in remote work. Located on the Big Island’s Hamakua Coast, this former sugar plantation town offers a blend of historic charm and rural lifestyle. While values briefly dipped in 2023-2024, the bounce-back in 2025 suggests continuing market strength for long-term investors.
24. Haiku
- % change from 2016 to 2025: 77.06%
- Home value in 2016: $753,736
- Home value in 2017: $764,430
- Home value in 2018: $799,528
- Home value in 2019: $834,358
- Home value in 2020: $811,885
- Home value in 2021: $922,965
- Home value in 2022: $1,123,126
- Home value in 2023: $1,270,434
- Home value in 2024: $1,281,881
- Home value in 2025: $1,334,602
Haiku’s 77.1% value surge has transformed a $753,736 investment into $1,334,602, creating $580,866 in household wealth over nine years. The financial trajectory shows remarkable acceleration during 2021-2023 with 37.6% growth, followed by continued appreciation through 2025. This North Shore Maui community, known for lush landscapes and proximity to world-class windsurfing at Ho’okipa Beach, commands premium pricing. The sustained upward momentum despite already high entry points signals strong underlying demand fundamentals that could continue driving long-term growth.
23. Volcano
- % change from 2016 to 2025: 78.77%
- Home value in 2016: $220,140
- Home value in 2017: $235,428
- Home value in 2018: $252,376
- Home value in 2019: $258,270
- Home value in 2020: $265,771
- Home value in 2021: $296,085
- Home value in 2022: $354,085
- Home value in 2023: $389,221
- Home value in 2024: $385,437
- Home value in 2025: $393,545
Volcano’s 78.8% appreciation since 2016 has generated $173,405 in equity despite natural disaster risks in this unique market. The property values briefly retreated in 2023-2024 (-1.0%) but recovered in 2025, demonstrating remarkable resilience in a volcanically active area. Located near Hawaii Volcanoes National Park on the Big Island, this cool, misty community attracts both adventure tourists and nature enthusiasts. The relatively modest entry point ($220,140 in 2016) combined with strong appreciation makes this one of Hawaii’s more accessible investment markets with continuing upside potential.
22. Puako
- % change from 2016 to 2025: 78.96%
- Home value in 2016: $1,201,417
- Home value in 2017: $1,170,616
- Home value in 2018: $1,219,617
- Home value in 2019: $1,243,743
- Home value in 2020: $1,259,257
- Home value in 2021: $1,390,742
- Home value in 2022: $1,916,797
- Home value in 2023: $2,143,506
- Home value in 2024: $2,109,001
- Home value in 2025: $2,150,019
Puako’s premium real estate has appreciated 79.0% since 2016, transforming a $1.2 million investment into $2.15 million and generating nearly $950,000 in wealth. This luxury market actually declined slightly in 2016-2017 before beginning its upward trajectory, with explosive 37.8% growth during 2021-2022. Located on the Big Island’s Kohala Coast, this exclusive oceanfront community offers world-class snorkeling and proximity to luxury resorts. The slight 2023-2024 correction (-1.6%) followed by recovery suggests this high-end market maintains strong demand fundamentals despite significant price points.
21. Naalehu
- % change from 2016 to 2025: 79.60%
- Home value in 2016: $229,296
- Home value in 2017: $233,217
- Home value in 2018: $244,676
- Home value in 2019: $252,778
- Home value in 2020: $270,151
- Home value in 2021: $301,628
- Home value in 2022: $366,752
- Home value in 2023: $403,680
- Home value in 2024: $400,806
- Home value in 2025: $411,824
Naalehu’s 79.6% appreciation since 2016 has generated $182,528 in equity for homeowners who invested at the right time. The market showed particular strength during 2021-2022 (21.6%) as pandemic-era buyers sought more affordable Hawaii options. Situated at the southernmost point of the United States on the Big Island, this remote agricultural community offers authentic Hawaiian living at lower entry points. The brief 2023-2024 correction (-0.7%) followed by renewed growth indicates resilient demand, even in this relatively isolated location, suggesting continued investment potential.
20. Kahuku
- % change from 2016 to 2025: 80.58%
- Home value in 2016: $539,131
- Home value in 2017: $579,921
- Home value in 2018: $629,991
- Home value in 2019: $664,953
- Home value in 2020: $689,379
- Home value in 2021: $707,833
- Home value in 2022: $812,903
- Home value in 2023: $801,552
- Home value in 2024: $874,861
- Home value in 2025: $973,558
Kahuku’s 80.6% appreciation has transformed a $539,131 investment into $973,558 over nine years, generating $434,427 in equity. Interestingly, this market showed unusual volatility with a brief 2022-2023 correction (-1.4%) before surging 21.4% from 2023 to 2025. Located on Oahu’s North Shore, Kahuku offers a unique blend of agricultural land, ocean access, and proximity to famous surfing destinations. The recent strong momentum suggests this market could continue outperforming as buyers seek alternatives to Honolulu’s ultra-premium prices while maintaining island lifestyle benefits.
19. Pahoa
- % change from 2016 to 2025: 81.05%
- Home value in 2016: $158,655
- Home value in 2017: $174,560
- Home value in 2018: $193,086
- Home value in 2019: $198,447
- Home value in 2020: $205,518
- Home value in 2021: $222,797
- Home value in 2022: $269,119
- Home value in 2023: $295,530
- Home value in 2024: $286,613
- Home value in 2025: $287,242
Pahoa’s 81.1% value growth since 2016 is particularly remarkable given its volcanic risk profile, transforming a modest $158,655 investment into $287,242. The town experienced a slight 3.0% correction in 2023-2024 following the explosive 2021-2023 growth period. Located in the Puna District of Hawaii’s Big Island, this community has faced multiple lava flow threats yet maintains strong investor interest due to its affordability and tropical rainforest setting. The lower entry point combined with significant percentage gains makes this market accessible to investors seeking Hawaiian property with strong ROI potential.
18. Hanapepe
- % change from 2016 to 2025: 83.43%
- Home value in 2016: $425,784
- Home value in 2017: $433,343
- Home value in 2018: $462,192
- Home value in 2019: $490,903
- Home value in 2020: $506,457
- Home value in 2021: $564,452
- Home value in 2022: $653,389
- Home value in 2023: $734,678
- Home value in 2024: $772,963
- Home value in 2025: $781,034
Hanapepe’s 83.4% appreciation has generated $355,250 in wealth for property owners since 2016, with particularly strong performance in recent years (19.5% growth from 2022 to 2025). This historic town on Kauai’s southwest side, known as “Kauai’s Biggest Little Town,” offers authentic Hawaiian charm and cultural attractions like Friday Art Night. The consistent year-over-year gains without significant corrections suggest fundamental demand rather than speculative activity—making this market potentially safer for long-term investors seeking both lifestyle benefits and financial returns.
17. Kilauea
- % change from 2016 to 2025: 83.69%
- Home value in 2016: $855,848
- Home value in 2017: $847,418
- Home value in 2018: $893,892
- Home value in 2019: $958,451
- Home value in 2020: $967,652
- Home value in 2021: $1,105,724
- Home value in 2022: $1,364,276
- Home value in 2023: $1,443,301
- Home value in 2024: $1,473,157
- Home value in 2025: $1,572,120
Kilauea’s premium real estate has appreciated 83.7% since 2016, transforming an $855,848 investment into $1,572,120 and generating $716,271 in equity. This luxury Kauai market initially declined slightly in 2016-2017 (-1.0%) before beginning its upward trajectory, with exceptional 23.4% growth in 2021-2022. Located on Kauai’s sought-after North Shore near the iconic lighthouse, this area attracts affluent buyers seeking privacy and natural beauty. The continued appreciation through 2025 (6.7% in 2024-2025) suggests sustained demand in this luxury segment despite already high price points.
16. Kula
- % change from 2016 to 2025: 84.53%
- Home value in 2016: $737,527
- Home value in 2017: $770,568
- Home value in 2018: $826,317
- Home value in 2019: $852,676
- Home value in 2020: $857,525
- Home value in 2021: $961,208
- Home value in 2022: $1,181,996
- Home value in 2023: $1,285,936
- Home value in 2024: $1,303,839
- Home value in 2025: $1,360,987
Kula’s impressive 84.5% appreciation has transformed a $737,527 investment into $1,360,987, creating $623,460 in wealth over nine years. The market showed extraordinary acceleration during 2020-2022, with values surging 37.8% during this period. This sought-after upcountry Maui community, known for cooler temperatures and panoramic island views, attracts both affluent full-time residents and second-home buyers. The consistent growth through 2025 indicates sustained demand fundamentals, potentially driven by limited supply in this highly desirable microclimate zone.
15. Kailua Kona
- % change from 2016 to 2025: 85.56%
- Home value in 2016: $467,510
- Home value in 2017: $482,161
- Home value in 2018: $506,298
- Home value in 2019: $520,957
- Home value in 2020: $531,694
- Home value in 2021: $587,688
- Home value in 2022: $748,024
- Home value in 2023: $831,868
- Home value in 2024: $841,103
- Home value in 2025: $867,493
Kailua Kona’s 85.6% appreciation has generated nearly $400,000 in equity for property owners since 2016. The market demonstrated exceptional strength during 2021-2022 with a remarkable 27.3% single-year gain, likely fueled by pandemic-era lifestyle migration. This popular Big Island destination, known for coffee production and hosting the Ironman World Championship, offers a perfect blend of tourism amenities and residential appeal. The continued steady growth through 2025 suggests this market hasn’t reached its ceiling, potentially offering further upside for investors entering at current valuations.
14. Kalaheo
- % change from 2016 to 2025: 85.83%
- Home value in 2016: $563,703
- Home value in 2017: $577,462
- Home value in 2018: $613,932
- Home value in 2019: $650,358
- Home value in 2020: $674,976
- Home value in 2021: $755,238
- Home value in 2022: $897,298
- Home value in 2023: $990,276
- Home value in 2024: $1,019,292
- Home value in 2025: $1,047,542
Kalaheo’s strong 85.8% growth since 2016 has transformed a $563,703 investment into over $1 million, creating $483,839 in household wealth. This Kauai market shows remarkably consistent appreciation, with no down years and particularly strong performance during 2021-2023 (31.1% growth). Located on Kauai’s sunny south shore with cooler elevated temperatures, Kalaheo offers both ocean views and agricultural opportunities. The steady upward trajectory without corrections suggests fundamental demand drivers rather than speculative activity—indicating a potentially safer investment profile with continuing appreciation potential.
13. Waimea
- % change from 2016 to 2025: 86.28%
- Home value in 2016: $380,746
- Home value in 2017: $379,459
- Home value in 2018: $396,143
- Home value in 2019: $421,228
- Home value in 2020: $438,016
- Home value in 2021: $501,075
- Home value in 2022: $570,700
- Home value in 2023: $664,954
- Home value in 2024: $690,454
- Home value in 2025: $709,239
Waimea’s 86.3% appreciation has generated $328,493 in equity since 2016, despite a slight 0.3% decline in the first year. The market showed particular strength in 2022-2023 with a 16.5% single-year gain. This unique Big Island community, also known as Kamuela, offers cooler temperatures at 2,600 feet elevation and combines ranching heritage with proximity to Kohala Coast resorts. The sustained growth momentum through 2025 suggests continuing strong demand in this distinctive microclimate that appeals to those seeking Hawaiian lifestyle without coastal heat and humidity.
12. Koloa
- % change from 2016 to 2025: 86.61%
- Home value in 2016: $648,313
- Home value in 2017: $652,944
- Home value in 2018: $679,045
- Home value in 2019: $709,324
- Home value in 2020: $743,271
- Home value in 2021: $841,389
- Home value in 2022: $1,003,366
- Home value in 2023: $1,131,368
- Home value in 2024: $1,173,492
- Home value in 2025: $1,209,793
Koloa’s 86.6% appreciation has transformed a $648,313 investment into $1,209,793, generating $561,479 in equity over nine years. The market demonstrates consistently strong performance, with particularly impressive 19.3% growth during 2021-2022. This historic plantation town on Kauai’s south shore, near popular Poipu Beach, combines authentic Hawaiian character with proximity to luxury resorts and vacation rentals. The steady growth through 2025 indicates robust underlying demand, suggesting this market maintains momentum even as other locations experience corrections.
11. Keaau
- % change from 2016 to 2025: 86.98%
- Home value in 2016: $241,771
- Home value in 2017: $257,847
- Home value in 2018: $275,942
- Home value in 2019: $284,146
- Home value in 2020: $301,000
- Home value in 2021: $331,605
- Home value in 2022: $409,079
- Home value in 2023: $453,043
- Home value in 2024: $446,058
- Home value in 2025: $452,059
Keaau’s 87.0% appreciation has generated $210,288 in wealth for property owners since 2016, despite a brief 1.5% correction in 2023-2024. The wealth-building trajectory accelerated dramatically during 2021-2022 with a 23.4% single-year gain. Located just south of Hilo on the Big Island, this former sugar plantation town offers relatively affordable entry points to Hawaii real estate with strong ROI potential. The recent price recovery in 2024-2025 following a minor correction suggests resilient demand fundamentals, making this an attractive market for investors seeking both percentage gains and lower initial capital requirements.
10. Waimea
- % change from 2016 to 2025: 90.20%
- Home value in 2016: $502,799
- Home value in 2017: $544,800
- Home value in 2018: $596,091
- Home value in 2019: $619,498
- Home value in 2020: $649,101
- Home value in 2021: $720,097
- Home value in 2022: $921,058
- Home value in 2023: $961,465
- Home value in 2024: $933,913
- Home value in 2025: $956,299
Waimea’s impressive 90.2% appreciation has transformed a $502,799 investment into $956,299, creating $453,501 in equity over nine years. The market experienced explosive 27.9% growth during 2021-2022, followed by a minor 2.9% correction in 2023-2024 before rebounding. This picturesque Kauai community near the entrance to Waimea Canyon offers scenic beauty and authentic Hawaiian culture away from major tourist centers. The property values’ recovery in 2024-2025 after a slight pullback indicates sustained market fundamentals, suggesting potential for continued growth as buyers seek alternatives to more developed Hawaiian destinations.
9. Kihei
- % change from 2016 to 2025: 91.59%
- Home value in 2016: $582,088
- Home value in 2017: $595,386
- Home value in 2018: $626,659
- Home value in 2019: $662,098
- Home value in 2020: $707,494
- Home value in 2021: $781,372
- Home value in 2022: $969,431
- Home value in 2023: $1,092,173
- Home value in 2024: $1,103,600
- Home value in 2025: $1,115,227
Kihei’s substantial 91.6% appreciation has turned a $582,088 investment into $1,115,227, generating $533,138 in wealth since 2016. The market showed extraordinary momentum during 2021-2022 with a remarkable 24.1% single-year gain. Located on Maui’s sunny south shore, Kihei offers beach access, recreational opportunities, and relatively accessible price points compared to Wailea or West Maui. The continued steady growth through 2025 without corrections suggests sustainable demand fundamentals, potentially making this market a safer long-term investment with room for further appreciation.
8. Makawao
- % change from 2016 to 2025: 91.71%
- Home value in 2016: $581,241
- Home value in 2017: $614,809
- Home value in 2018: $654,599
- Home value in 2019: $682,781
- Home value in 2020: $711,950
- Home value in 2021: $787,450
- Home value in 2022: $932,311
- Home value in 2023: $1,020,114
- Home value in 2024: $1,042,984
- Home value in 2025: $1,114,296
Makawao’s impressive 91.7% appreciation has transformed a $581,241 investment into $1,114,296, creating $533,055 in household wealth since 2016. The market consistently outperformed through economic cycles, with particularly strong 18.4% growth during 2021-2022. This charming upcountry Maui town, known for its paniolo (cowboy) heritage and artistic community, offers cooler temperatures and panoramic views. The continued steady appreciation through 2025 suggests this market maintains its appeal to both lifestyle buyers and investors, with potential for further growth given its unique positioning in Maui’s real estate landscape.
7. Lihue
- % change from 2016 to 2025: 92.96%
- Home value in 2016: $435,602
- Home value in 2017: $460,632
- Home value in 2018: $487,280
- Home value in 2019: $523,630
- Home value in 2020: $546,524
- Home value in 2021: $614,207
- Home value in 2022: $698,219
- Home value in 2023: $788,286
- Home value in 2024: $833,044
- Home value in 2025: $840,530
Lihue’s remarkable 93.0% appreciation has generated $404,928 in equity for property owners since 2016. This market demonstrates consistently strong performance with no down years and continued momentum through 2025. Serving as Kauai’s commercial center with the island’s main airport, Lihue combines practical amenities with investment potential at lower entry points than resort areas. The impressive appreciation curve without corrections suggests sustainable demand fundamentals rather than speculative activity—making this potentially one of the safer long-term investment opportunities in Hawaii’s historically volatile real estate market.
6. Kapaa
- % change from 2016 to 2025: 96.66%
- Home value in 2016: $475,927
- Home value in 2017: $499,244
- Home value in 2018: $529,452
- Home value in 2019: $578,620
- Home value in 2020: $600,601
- Home value in 2021: $671,581
- Home value in 2022: $780,106
- Home value in 2023: $857,926
- Home value in 2024: $908,586
- Home value in 2025: $935,959
Kapaa’s exceptional 96.7% appreciation has transformed a $475,927 investment into $935,959, creating $460,032 in wealth over nine years. The market shows remarkably consistent year-over-year gains with particularly strong momentum in recent years (16.2% growth from 2022 to 2023). Located on Kauai’s eastern shore, Kapaa offers beach access, mountain views, and a vibrant town atmosphere with shopping and dining options. The continued strong growth through 2025 suggests this market maintains robust fundamentals, making it attractive for both lifestyle buyers and investors seeking sustainable returns.
5. Ocean View
- % change from 2016 to 2025: 96.71%
- Home value in 2016: $145,051
- Home value in 2017: $159,135
- Home value in 2018: $173,143
- Home value in 2019: $174,902
- Home value in 2020: $188,006
- Home value in 2021: $216,384
- Home value in 2022: $269,110
- Home value in 2023: $293,035
- Home value in 2024: $285,038
- Home value in 2025: $285,326
Ocean View’s remarkable 96.7% appreciation since 2016 represents significant wealth creation, turning a modest $145,051 investment into $285,326. The financial impact is substantial—$140,275 in equity gains from Hawaii’s most affordable entry point on this list. This unique Big Island community experienced a brief 2.7% correction in 2023-2024 following explosive 24.4% growth in 2021-2022. Located in Ka’u District, Ocean View offers large lots with distant ocean views at prices unheard of elsewhere in Hawaii. The low entry point combined with powerful percentage gains makes this an exceptional opportunity for investors with limited capital seeking exposure to Hawaii’s real estate market.
4. Wailuku
- % change from 2016 to 2025: 99.95%
- Home value in 2016: $479,622
- Home value in 2017: $506,362
- Home value in 2018: $546,085
- Home value in 2019: $574,091
- Home value in 2020: $600,864
- Home value in 2021: $667,396
- Home value in 2022: $780,065
- Home value in 2023: $860,335
- Home value in 2024: $913,556
- Home value in 2025: $959,002
Wailuku’s impressive 99.9% appreciation has effectively doubled property values since 2016, turning a $479,622 investment into $959,002 and generating $479,380 in equity. This market demonstrates remarkable consistency with steady year-over-year gains and continued momentum through 2025. Serving as Maui’s government and commercial hub, Wailuku offers more affordable entry points than resort areas while maintaining strong appreciation potential. The sustained upward trajectory without corrections suggests fundamental demand rather than speculative activity, making this potentially one of the safer long-term investment opportunities in Hawaii’s historically volatile real estate landscape.
3. Kahului
- % change from 2016 to 2025: 102.80%
- Home value in 2016: $519,491
- Home value in 2017: $553,114
- Home value in 2018: $592,975
- Home value in 2019: $624,121
- Home value in 2020: $656,732
- Home value in 2021: $729,390
- Home value in 2022: $857,421
- Home value in 2023: $943,344
- Home value in 2024: $997,667
- Home value in 2025: $1,053,531
Kahului’s remarkable 102.8% appreciation has more than doubled investment values since 2016, transforming $519,491 into over $1 million and generating $534,040 in household wealth. The market shows extraordinary consistency with no down years and continued strong momentum through 2025. As Maui’s main commercial center with the island’s primary airport and shopping facilities, Kahului offers practical amenities and investment potential at lower entry points than resort destinations. The sustained growth curve without corrections indicates robust fundamental demand that could continue driving appreciation, making this a compelling opportunity for investors seeking long-term value growth.
2. Waikoloa
- % change from 2016 to 2025: 104.64%
- Home value in 2016: $409,932
- Home value in 2017: $423,522
- Home value in 2018: $446,941
- Home value in 2019: $460,168
- Home value in 2020: $478,776
- Home value in 2021: $536,587
- Home value in 2022: $702,245
- Home value in 2023: $787,721
- Home value in 2024: $809,316
- Home value in 2025: $838,872
Waikoloa’s phenomenal 104.6% appreciation has more than doubled property values since 2016, turning a $409,932 investment into $838,872 and generating $428,940 in equity. The market experienced explosive 30.9% growth during 2021-2022, followed by continued steady appreciation through 2025. Located on the Big Island’s Kohala Coast, this planned community offers resort amenities, golf courses, and shopping villages at more accessible price points than neighboring luxury areas. The sustained upward trajectory without corrections suggests fundamental demand drivers rather than speculative activity, potentially making this market a safer long-term investment with continuing appreciation potential.
1. Princeville
- % change from 2016 to 2025: 134.58%
- Home value in 2016: $611,813
- Home value in 2017: $633,747
- Home value in 2018: $664,465
- Home value in 2019: $718,653
- Home value in 2020: $747,537
- Home value in 2021: $817,719
- Home value in 2022: $1,024,838
- Home value in 2023: $1,251,972
- Home value in 2024: $1,390,638
- Home value in 2025: $1,435,212
Princeville’s extraordinary 134.6% appreciation tops our list, having transformed a $611,813 investment into $1,435,212 and generating $823,399 in wealth since 2016. This premium market shows remarkable acceleration in recent years, with values surging 70.2% from 2021 to 2024. Located on Kauai’s coveted North Shore, this luxury resort community offers world-class golf, spectacular ocean views, and proximity to Hanalei Bay. The continued strong growth through 2025 despite already high valuations suggests sustained demand from affluent buyers seeking trophy properties in one of Hawaii’s most exclusive enclaves, with potential for continued appreciation despite premium price points.
