8 Key Pros and Cons Every Buyer Needs to Know
If you’ve been sitting on the sidelines, waiting for the “perfect” moment to buy a home on the Big Island or elsewhere in Hawaii, you’re not alone. Many buyers have put their plans on pause during this challenging economic cycle.
A buyer’s market, when inventory is higher, homes stay on the market longer, and sellers become more flexible, can actually be one of the best times to make your move. Instead of competing against multiple offers and rushing to make decisions, you gain the breathing room to explore options, evaluate properties carefully, and negotiate terms that truly benefit you.
From securing a better purchase price to asking for closing cost credits, repair concessions, or even furnishings, a buyer’s market shifts the leverage in your favor and opens doors that aren’t always available in a fast-moving, competitive market.
Here are eight pros and cons of buying property in Hawaii’s buyer’s market to help you weigh your options and decide if taking the next step forward is for you.
Pros of Buying in Today’s Buyer’s Market
1. More Negotiating Power
In a buyer’s market, you hold the advantage. With more homes available and sellers competing for attention, you can negotiate beyond just the purchase price. Think bigger: ask for credits toward your closing costs, push for repairs to be covered, or even include furnishings. Sellers know they need to make their property attractive, which means you have the power to shape the terms in your favor and walk away with more value for your money.
2. More Inventory to Choose From
When more homes are coming on the market, you gain the advantage of choice. Instead of rushing to grab whatever is available, you can take the time to compare neighborhoods, floor plans, amenities, and price points.
While no home is ever truly “perfect,” having a wider selection increases the odds of finding one that aligns closely with your needs, lifestyle, and long-term goals. Whether that means a larger lanai for entertaining, proximity to schools or beaches, or room to grow into, a buyer’s market gives you the breathing room to prioritize what matters most and negotiate for it with confidence.
3. Less Competition From Other Buyers
Unlike the past seller’s markets (2020, 2021, 2022)—where homes sold in days and buyers competed with dozens of offers, you won’t be forced into bidding wars or pressured to make snap decisions.
With fewer buyers in play, you have the luxury of time: time to tour multiple properties, weigh your options, and run the numbers carefully before committing. This calmer pace not only reduces stress but also allows you to craft stronger, more strategic offers.
In today’s market, you get to be selective and intentional, focusing on finding the right fit for your lifestyle and budget rather than simply fighting to “win” a deal.
4. Potential for Long-Term Value
Buying when prices are softer may allow you to secure a property before the next upswing, which may happen if rates go down, especially if they go to 5%. Historically, Hawaii real estate has proven resilient and attractive to long-term investors and homeowners alike.
Cons of Buying in Hawaii’s Buyer’s Market
5. Some Sellers Haven’t Adjusted Yet
Not all sellers realize they’re in a buyer’s market, and many still list their homes at prices above market value. In some cases, they may even be “stuck” on a number because they need specific proceeds to make their next move. For buyers, this can create a bit of a tug-of-war in negotiations.
But here’s the good news: the longer a home sits on the market, the more motivated most sellers become. With patience, strategy, and the right representation, you can often turn these situations to your advantage—whether that means negotiating a price reduction, securing credits toward your closing costs, or adding terms that make the purchase more favorable to you.
6. More Properties to Compare = Decision Fatigue
We are seeing one of the largest increases in homes and condos coming up for sale in decades. While this creates incredible opportunities for buyers, it can also feel overwhelming.
With so many choices, it’s easy to second-guess yourself or get stuck in “analysis paralysis.” I’m even hearing from other agents that buyers often spend more time eliminating homes from their list than zeroing in on the one that feels right. That process can be exhausting—and if you hesitate too long, it can mean missing out on possible opportunities.
Having a clear strategy and guidance in today’s market is key to keeping the process focused and moving forward.
7. Uncertain Future Values
Markets shift, and prices could continue to adjust downward or even upwards. No one has a crystal ball, and no one knows what the future holds for any of us. Buying in a buyer’s market means you need to think long-term and be comfortable with some short-term uncertainty.
8. Waiting Could Mean Missing Out
Some buyers get caught in the cycle of waiting for “the bottom.” While it can be tempting to hold out for the absolute lowest price, the reality is that no one can time the market perfectly. In the meantime, the risk is missing out on the property that truly fits your needs or the lifestyle opportunity you’ve been dreaming about. Real estate isn’t just about numbers; it’s about finding a home that supports the way you want to live. Waiting too long for the “perfect deal” can mean watching the right home slip away.
Final Thoughts
Yes, Hawaii’s current real estate market is challenging, but within that challenge lies real opportunity for buyers. If you’ve been hesitant to start your search, now may be the perfect moment to step in. With more negotiating power, less competition, and a wider selection of homes, you can take the time to explore options and make confident choices.
You may be closer than you realize to finding the island home that not only fits your lifestyle today but also supports your long-term goals. Ready to begin your search? Let’s connect and explore the opportunities waiting for you here in Hawaii.
