July 2022 Oahu Real Estate Market Update: The OLD market was bonkers, you had to give up your left kidney in your offers just to get a home. In the New market we live in today, instead of calling it a “cooling off” I’m going to call it more of a “normalizing” of the market. Instead of speeding down the H-1 at 85 mph with a 2.8% interest rate, we are now going the 55 mph speed limit of a 5.5% interest rate. It’s a more historically “normal” interest rate and once buyers realize that they will be back. But until then, right now might be the best time to buy a property in the last 5 years because there’s much more room for NEGOTIATIONS and not only can you get in at a lower price, you can also ask the seller for more help while in escrow.