E. Construction
2nd Quarter 2025 Report
Download Construction Data Tables (spreadsheet)
Construction jobs and private building authorizations increased in the first quarter of 2025 compared to the first quarter of 2024. However, State government CIP expenditures and government contracts awarded decreased in the quarter.
In the first quarter of 2025, the number of jobs in the construction sector increased 1.8 percent or 700 jobs compared with the same quarter of 2024. In 2024, the construction sector added 1,000 jobs or 2.6 percent (Table A-7) from the previous year.
In the first quarter of 2025, private building authorizations in the state increased $401.4 million or 39.9 percent, compared with the first quarter of 2024 (Table E-8). In 2024, private building authorizations in the state increased $1,304.4 million or 35.6 percent compared with the previous year.
In the first quarter of 2025, private building authorizations in Honolulu increased $251.2 million or 41.6 percent, compared with the first quarter of 2024 (Table E-8). In 2024, private building authorizations in Honolulu increased $1,345.4 million or 72.8 percent, compared with the previous year.
In the first quarter of 2025, private building authorizations in Hawai i County increased $97.9 million or 47.8 percent, compared with the first quarter of 2024 (Table E-8). In 2024, private building authorizations in Hawai i County increased $110.7 million or 12.5 percent, compared with the previous year.
In the first quarter of 2025, private building authorizations in Maui increased $63.1 million or 40.9 percent, compared with the first quarter of 2024 (Table E-8). In 2024, private building authorizations in Maui decreased $111.6 million or 14.4 percent compared with the previous year.
In the first quarter of 2025, private building authorizations (residential only) in Kaua i County decreased $10.8 million or 24.5 percent, compared with the first quarter of 2024 (Table E-8). In 2024, private building authorizations in Kaua i County decreased $40.1 million or 25.0 percent compared with the previous year.
In the first quarter of 2025, government contracts awarded decreased $22.1 million or 5.9 percent, compared with the first quarter of 2024 (Table E-1). In 2024, government contracts awarded decreased $1,567.5 million or 31.5 percent compared with the previous year. 1/
State government CIP expenditures decreased $19.6 million or 5.5 percent in the first quarter of 2025 compared with the same quarter of 2024. In 2024, state government CIP expenditures increased $249.5 million or 18.4 percent from the previous year (Table E-2).
The Honolulu Construction Cost Index for a Single Family Residence (Table E-6) increased 3.4 percent in the first quarter of 2025 compared to the same quarter of 2024 and similarly increased 3.0 percent for a High-Rise Building (Table E-7). In 2024, the index for a Single Family Residence increased 3.8 percent and 3.9 percent for a High-Rise Building as compared to the previous year.
Average home prices increased by 5.1 percent in the first quarter of 2025, with single family home prices up 7.8 percent and condo prices down 1.6 percent over the same quarter of the previous year (Table E-11). The purchase of homes decreased 25.7 percent for local buyers, decreased 31.1 percent for mainland buyers, and decreased 33.1 percent for foreign buyers over the same quarter of the previous year (Table E-12).
In the first quarter of 2025, Honolulu s median price for single family resales was $1,150,000, up $80,000 or 7.5 percent over the same quarter of 2024 (Table G-29). The median price for condominium unit resales was $510,000, up $5,000 or 1.0 percent over the same quarter of 2024 (Table G-33). In the first quarter of 2025, the number of single-family unit resales decreased 4.0 percent, and the number of condominium unit resales increased 0.4 percent, compared with the first quarter of 2024 (Tables G-37 and G-41). In 2024, the number of single-family unit resales decreased 9.1 percent, and condominium unit resales decreased 2.5 percent compared with the previous year.
1/ In March 2023, one U.S. Navy contract designated Hawaii as “place of performance” for 100 percent of a $2,840 million task order to replace Dry Dock 3 at Pearl Harbor Naval Shipyard.