Hawaii's housing market is picking up a bit after a slow summer, which is mildly good news for buyers and sellers who have accepted that mortgage rates are staying high.

• Summer was quieter than usual, and August was rough nationwide for home purchases and loan applications.
• September is showing an uptick as people stop waiting for rates to drop and start planning around them.
• Mortgage rates track government bond yields, not just the Fed, and another Fed rate move is still expected.
• Buyers are shifting from single-family homes to condos, where there is more to choose from and less competition.
• Rising insurance costs, especially hurricane coverage on houses, are now a major part of the buying decision.

Outlook: Steady rates matter more than low rates right now, and if they hold, buying activity should keep improving into the fall.