Dr. Patricia Yu, Assistant Professor of Economics at the University of Hawai‘i–West O‘ahu, published a new peer-reviewed study examining how O‘ahu’s housing market has changed over time, with a particular focus on the period before and after the COVID-19 pandemic.
“Housing Market Transformations in O‘ahu: Insights from a Multi-Year Analysis,” coauthored with Dr. Jeremy Groves of Northern Illinois University, appears in the “Review of Integrative Business and Economics Research” (Vol. 15, Issue 2), an academic journal facilitating communications among researchers with cross-disciplinary research interests.
The study analyzes more than 50,000 residential real estate transactions from 2016 to 2023 using advanced spatial econometric methods.
“Our study shows that O‘ahu’s housing market underwent a meaningful shift after 2020: single-family homes saw a clear and measurable premium — about a 4% or $50,000 increase — while condos and townhouses did not experience the same rise,” Yu said. “This tells us that changing lifestyles, remote work, and the desire for more space had real, long-lasting impacts on local housing demand.”
Yu continued, “For a community like ours, where land is scarce and affordability is already a challenge, understanding these dynamics is essential for designing policies that support both local families and sustainable growth.”
Yu and Groves’ findings offer timely insights for policymakers, planners, and housing professionals grappling with affordability, zoning, and long-term housing supply challenges in Hawai‘i. By showing how different housing types respond to economic shocks, the study contributes to a deeper understanding of housing market resilience in island economies.
“I hope this study helps our community see not just what changed during the pandemic, but why,” Yu said. “By analyzing more than 50,000 sales across O‘ahu, we provide evidence that can guide smarter zoning and housing policy.”