Foreign investors continue to be a significant driving force in the Hawaii real estate market, according to Title Guaranty’s recently released statistics.

The report shows that in 2023, foreign buyers purchased 15,599 properties worth a total of $13.3 billion. This represents 3% of total sales for Hawaii properties sold.

Japan topped the list of foreign buyers in 2023, purchasing 292 properties for a total of $346.6 million. Canada followed behind, with 90 purchases for $120.4 million. South Korea, Taiwan, and China rounded out the top five foreign buyer groups. Honolulu remains the primary target region for foreign buyers.

“Foreign investment has long been a boon to the Hawaii real estate market,” said Sachi Hawaii, CEO and Principal Broker of Sachi Hawaii. “Foreign buyers bring in much-needed capital and help to diversify the market.”

Top Foreign Buyers of Hawaii Property (2023)

#1 Japan: 292 properties, $346.6 million
#2 Canada: 90 properties, $120.4 million
#3 South Korea: 24 properties, $26.6 million
#4 Taiwan: 7 properties, $3.1 million
#5 China: 6 properties, $6.2 million
#6-10: Australia, New Zealand, American Samoa, Brazil, Germany

Top U.S. Buyers of Hawaii Property (2023)

#1 Hawaii: 11,574 properties, $9.1 billion
#2 California: 1,490 properties, $1.6 billion
#3 Washington: 316 properties, $330.0 million
#4 Florida: 187 properties, $146.8 million
#5 Colorado: 157 properties, $147.1 million
#6-10: Texas, Oregon, Nevada, Arizona, Utah

Data Source: Title Guaranty’s Buyer Statistics Report (January-December 2023)