How to Sell My House Fast in Honolulu: Cash Offer Options

Pros and cons of selling to a Honolulu house-buying company

Still not sure if you want to work with a Honolulu house-buying company? Here’s a quick look at the key pros and cons of choosing this option:

Pros

• Quick offer: Cash buyers often provide an offer quickly, sometimes in as little as 24 hours, drastically speeding up the sale process.
• Sell as-is: Skip the hassle of making any repairs, even if your home is in poor condition, and sell your home as-is.
• No staging or showings: You can avoid the time-consuming steps of staging and holding open houses when selling directly to a cash buyer.
• Cover closing costs: Some buyers may cover some or all of the closing costs for you, unlike in a traditional home sale.
• Can be a foreclosure solution: Selling for cash can help you avoid the stress of a looming foreclosure or financial instability.
• Guaranteed sale: With a cash buyer, you can skip the uncertainty of buyer contingencies or a deal falling through due to home inspection results.

Cons

• Below market value: Cash offers typically come in at significantly below market value, so it’s likely you will leave money on the table.
• Less competition: You will miss out on the potential for competing offers on your home, which could result in a bidding war and drive the price higher.
• Risk of scams: There are some scammers in the cash-for-homes market, so it’s important to vet potential buyers carefully.
• No negotiations: Most house-buying companies make “take it or leave it” offers, leaving little to no flexibility for negotiating the sale price or terms of the deal.

Song cautions sellers about the risks of working with a house-buying company.

“I would be very, very careful and I would actually avoid it. I would get a professional recommendation before pursuing that option,” he advises. Song also emphasizes that not all house-buying operations are legit, and that some are out to make a buck by preying on innocent sellers due to their lack of knowledge about the real estate industry or the value of their home.

“In some situations, they’re making a very attractive offer because they’re buying it cash, and they don’t have to fix it up. But sellers most likely would get more on the open market. So, I would consult with a professional before selling to somebody who calls me out of the blue,” he says.

Option 2: Hire a top Honolulu real estate agent

Even though you may think selling the traditional way will take too much time, hiring a top real estate agent might be the wisest choice. A skilled agent provides unparalleled knowledge regarding the ins and outs of the Honolulu market and can help streamline the selling process, from pricing your home competitively to handling negotiations. With their expertise, you have the potential to sell your home faster and for a higher price, even when time is tight.

“Hiring an agent — the right agent — is one of the most important factors you can have, because they will provide you with the guidance, recommendation, advice, and counsel that you will need to navigate this changing marketplace,” says Song.

Next, let’s explore current market trends in Honolulu, the benefits of working with an agent, and how to find a top-performing professional in your neighborhood.

How fast are homes selling in Honolulu?

Homes in Honolulu are selling relatively slowly, sitting on the market for almost 70 days before going under contract. After accepting an offer, sellers should also factor in that it typically takes an additional 43 days to close on a home, bringing the total time from listing to closing between three and four months.

This is due in part to Oahu’s ultra-steep home prices, with the current median sitting at a whopping $1,122,000. It doesn’t help that the island’s inventory of active listings has also increased by 27.1%, giving buyers more options to choose from and reducing the average number of offers per house.

Here is a snapshot of current real estate conditions in Honolulu:

*Does not include the typical 43 days a buyer needs to close on a purchase loan.

Data source(s): Multiple public transaction sites

Benefits of selling with a top Honolulu agent

However, don’t be discouraged by these numbers. Working with a top real estate agent in Honolulu can greatly improve your chances of a fast home sale. From pricing your home effectively to negotiating the terms of the sale, these experienced professionals know how to navigate the local market and help you close quickly. What are the main benefits of working with an agent? Let’s explore below:

• Ability to sell for more: A skilled agent can price your home strategically and competitively to attract multiple offers while maximizing your profit.
• Can generate a speedy sale: Top agents know how to create a sense of urgency among buyers, which can lead to faster offers and a quicker sale.
• Accurate, effective pricing: An experienced agent will evaluate local market trends and comparable properties to set an accurate price. Bryn Kaufman, a top Honolulu agent with over 19 years of experience, says, “The better your comparables, the better chance you’re going to have at selling because you can price [your home] right.”
• Professional negotiation skills: With their negotiation expertise, agents can secure favorable terms of your behalf while speeding up the selling process.
• Expert partner by your side: Working with an experienced agent ensures that every step of the transaction is managed smoothly and efficiently with clear communication.
• Will know what to fix and not fix: An agent will guide you on which repairs or upgrades are worth it (and which aren’t) to help you sell faster and earn a return on investment.
• Elevated marketing: Top agents use advanced marketing strategies tailored to your home to attract more buyers quickly.
• Contract savviness: Agents are well-versed in handling real estate contracts, ensuring the sale moves through the legal stages without delay.
• Can manage documents and disclosures: A top agent ensures that all the legal requirements and paperwork are completed properly, reducing the risk of error.
• Network of skilled professionals: They have connections with stagers, contractors, and inspectors to quickly prep your home for sale.

Song emphasizes that hiring representation will ensure the sale goes smoothly, especially if there are potential hiccups to due negative home inspection results or confusion with paperwork.

“Just the laws and potential pitfalls of inspection are reasons enough to get represented,” Song says. “The average home price is above $1 million — why would someone to try to solely navigate the waters and complexities of selling or buying a home that will be by far the biggest purchase of their life?”

How to find a top Honolulu real estate agent

Looking to sell your Honolulu home with an agent, but don’t know where to find one? HomeLight’s Agent Match platform makes it easy. By analyzing millions of transactions and client reviews, we match you with up to three top-performing agents in your Honolulu neighborhood in under two minutes. Whether you’re looking to sell quickly or find the perfect buyer, HomeLight can connect you with the best agent for a fast and successful sale.

Expert agent tips to help sell your Honolulu house fast

Top real estate agents recommend a few key strategies you can tackle on your own to attract buyers and streamline the process from the get-go. Let’s take a brief look below:

• Price it right from the start: Overpricing your home can lead to stagnant movement on the market. Work with an experienced agent to price it competitively for a fast sale.
• Highlight outdoor living: Honolulu buyers value outdoor spaces, so highlight patios, lanais, and any ocean or mountain views to enhance your home’s appeal.
• Stage for remote workers: With the rise of digital nomads and remote workers in Hawaii, staging a home office or flexible workspace can attract this growing buyer segment.
• Focus on curb appeal: First impressions matter. Freshen up your landscaping and clean up your home’s exterior to draw buyers in right from the start.
• Get a pre-listing home inspection: A pre-sale inspection can identify issues early on and give you the opportunity to fix them before listing, ensuring a faster transaction without surprise hiccups.
• Make your home weather-ready: Honolulu’s weather can be intense, so upgrades like storm shutters or impact windows can make buyers feel more secure.
• Offer a home warranty: Provide peace of mind for potential buyers by offering a home warranty, which can help reduce their concerns about future repairs.
• Use professional photography: In a competitive market like Honolulu’s, high-quality photos can make your listing stand out on the MLS and attract serious buyers faster.

In addition, Kaufman recommends highlighting home features that appeal to current trends in the Honolulu market. According to Kaufman, Honolulu buyers are “excited to see green features and are definitely willing to pay more for an electric car charger in the garage.”

Also, consider adding upgrades that help facilitate the dream of tropical indoor-outdoor living. “Sliding windows that disappear completely into the wall make your home feel completely connected to the outside area.”

Ready to sell your Honolulu house fast?

Whether you decide to opt for an all-cash offer or work with a top real estate agent, the key is discovering which option best fits your unique needs to sell your Honolulu home fast.

• If time is of the essence, requesting a cash offer through HomeLight’s Simple Sale platform may be the quickest and easiest solution.
• Alternatively, hiring an experienced agent can ensure your home is marketed professionally and priced to sell quickly. HomeLight can connect you with a top-rated agent in Honolulu.

If you’re unsure which route to take, consider evaluating both options at once: comparing a cash offer with an agent’s market analysis will give you a complete picture of how both stack up against each other.

While the concept of selling your Honolulu home fast may feel daunting, HomeLight is here to help you through every step of the process. Armed with a clear understanding of your available resources and options, you can confidently begin your selling journey and maximize your Honolulu home’s value in shortest period of time.