January 2010 sales figures are up markedly over January last year. Honolulu Board of Realtors reports single family home sales volume was up a stunning 32.8% while median sale price was up 10.8% to  $597,500.

Condo sales numbers were even more impressive, up 42.8% over the previous year, although prices softened 2% to a median $299,000.

First time home buyer credits up to $8,000 are still available as are "repeat" buyer credits up to $6,500, but to qualify buyers MUST be in escrow by April 30.

Interest rates are still hovering around 5%. For folks who've been on the fence about buying, there's a lot of incentive to jump now rather than wait for higher prices, higher interest, and no more generous refunds Uncle Sam.