The assessed value of residential properties on Oahu has increased by 9.1%, and the average value of all real property on Oahu rose by 12.4%, Honolulu’s Real Property Assessment Division reports.

A real eye-opener is the rise in assessed valuation for property in residential zones, but with no home exemption, meaning generally that these properties are not an owner’s primary residence: This jumped by a whopping 39.9%, indicating that a hot market for properties purchased as investments or vacation homes is raising values. The value of primary residences (with a home exemption) between Haleiwa and Kaaawa also rose dramatically, by 18.4% to 20.4%.