Why are house prices in Honolulu, HI going down?

[Jake Silverman]

I've noticed in forecasts that house prices in Honolulu, HI are going down. Does anyone know why? Also i've noticed many of the houses have been on the market for a very long time (even before COVID.) 

My wife and I currently live in NYC but she grew up in Hawaii and we're ready for a change of pace and are currently looking at properties. Any insight you can share would be very helpful! 

[Lane Kawaoka]

Hawaii is being very conservative in terms of opening up. Its a little sad watching the tourist economy getting destroyed.

I live here but don't invest here for that reason... don't want to be a landlord in a blue state where the landlord laws are not on my side.