Kaimukī resident Alicia Young is on the hunt for her second Labubu, a palm-sized keychain toy with bunny-like ears and a sharp-toothed grin.
She strikes out for the day after checking three stores at Pearlridge Center, which were either sold out or selling so-called knock-off Lafufus.
“That was kind of expected. I know it is very popular,” she said.
Although these fluffy, collectible figurines have been distributed by China-based company Pop Mart since 2019, Labubu this year has taken the internet by storm.
The craze has even hit Hawai‘i, which makes finding a Labubu difficult. Few stores sell them, and the high demand has driven up prices. Some boxes are going for as much as $90.
There are more than 30 Labubu designs in the various series Pop Mart has released so far. They’re sold in blind boxes. Buyers don’t know exactly which one they'll get, adding an element of surprise for collectors.
The hype is real
Labubu was created in 2015 by Hong Kong-born artist Kasing Lung as part of his story series “The Monsters.” Lung drew inspiration for the character from Nordic folklore and mythology while growing up in the Netherlands.
In Lung’s world, Labubu are little female elves. She's mischievous, but with good intentions.
The dolls sell online for around $21. But they usually sell out within minutes, and only a few stores in Hawaiʻi carry them.
Labubu has grown in popularity because of celebrities like K-pop star Lisa from BLACKPINK and singer Rihanna showing them off as their luxury companions clipped on their designer bags. Even local social media star Bretman Rock has his own Labubu collection.
The toy’s success has been a boon for Pop Mart. The company reported a net profit of over $400 million in 2024 — triple the amount in 2023. The company attributed the increase to the “global phenomenon of Labubu.”
The rising popularity of Labubu has escalated to full brawls amongst collectors in the United Kingdom, leading to the company suspending all in-store sales of the collectibles in the UK, according to CNN.
The character has become so popular that it has inspired theme songs and can be dressed up in clothing.
Back in Hawaiʻi, Alicia Young said she first saw Labubu on Instagram.
“My first thought was that it was scary, and it has a demonic face,” she said.
Her interest in the plush keychain grew after her friend gifted her the first one, and then she started crocheting outfits for her Labubu. “I think the accessibility to show it off is exciting,” she said.
Why are Labubu expensive?
Pop Mart has released three versions of Labubu so far: Tasty Macarons Vinyl Face, Have A Seat Vinyl Plush and Big Into Energy. Pop Mart also collaborated with Coca-Cola to create a limited-edition Labubu, which are Christmas-themed figurines holding the classic Coca-Cola bottle or a can.
Each Labubu series has three to six different figurines plus a secret doll, which has a 1 in 72 chance of being found.
Prices in Hawai‘i are double or even quadruple the online retail price. On a recent visit to a vape store in ʻAiea, Labubu were priced at $90 for a single box.
Local sellers say tariffs aren’t the issue. What it really boils down to is economics. There are not many Labubu figurines in the state, but demand is high.
Sellers can keep prices high because people are willing to spend the money.
Xavier Urbano is a local seller of Labubu collectibles and Pokémon trading cards. He gets his supply from a Japanese wholesaler.
“Once I put out a case of Labubu, it’s pretty much gone automatically," he said.
Urbano said some sellers have to increase the price of Labubu — from 20% to 40% more than the retail price — in order to make a profit. He sells his Labubu for $40, much lower than most others have.
“Ninety dollars is too much for one,” he said. “Whoever is selling is definitely riding the hype of Labubu.”
Resellers have been pricing Labubu online up to $1,000. The price skyrockets if it’s a rare Labubu.
The hype of Labubu is similar to the 1990s Beanie Babies craze, a line of plush toys created by Ty Inc. While prices on eBay vary, some rare versions of Beanie Babies will sell for anywhere from $1,000 to $3,000.
Urbano said the difference with Labubu’s success in popularity is that it’s a keychain.
“It’s basically free marketing,” he said.
What’s the draw to this plush toy with a monstrous face?
Labubu comes in sets of various colors from pink to ombré. Much like how Beanie Babies have unique names like Princess the Bear and Bubbles the Fish, the Labubu also have names. Some include SiSi and HeHe, others are named Lychee Berry and Sea Salt Coconut. The newest versions have names like Love and Luck.
But the biggest draw to the plush toys is the blind boxes; people don’t know which Labubu they will get. That feeling of not knowing mimics the exhilaration some people get from gambling.
Purchasing a Labubu fulfills various psychological needs or motivations of buyers, according to Christopher Cannon, associate professor at the University of Hawai‘i at Manoa’s Shidler College of Business.
“Sometimes you’re rewarded for the purchase where you get the exact Labubu that you want, or sometimes you get the Labubu that completes your collection, other times you don’t,” Cannon said. “That intermittent dopamine rush is what drives you to keep purchasing more and more.”
Experts at the University of Hawai‘i Economic Research Organization predict a “mild recession” in the next couple of years.
Cannon said he’s concerned about the potential economic crisis, where “people need to make smart, financial decisions for themselves.”
“We still see in any economic crisis, people willing to purchase things that provide some sense of escapism or comfort, which is exactly what Labubu is doing for them,” he said.
Cannon said Labubu's ugly-cute aesthetic and its association with celebrities contribute to people buying the product. He said people tend to nurture and protect items like a baby, which is why some people are seen with their Labubu in acrylic cases and why they dress them up.
He added that he’s seen people customize their Labubu by tattooing their faces and dying their fur.
People buying Labubu have cut across all sectors of society. Even some public figures in Hawai‘i are getting into it.
Take Honolulu City Councilmember Radiant Cordero. She has seven. She first got into collecting Labubu during her vacation with her husband in Asia.
She said Labubu provides nostalgia, going back to the sticker machine at Zippy’s or Pokémon trading cards. It also reminds people of the children’s book “Where the Wild Things Are” or the TV series “The Smurfs.”
“Because it’s also a trend, it’s quick to latch onto,” Cordero said.
Cordero said her district has several retail stores that sell Labubu, even a store that solely sells Labubu clothing.
While she said Labubu can be expensive, at least it’s more affordable than the cost of a single-family Oʻahu home, which averages $1.4 million.
“There are those aspects to it, but I do hope people are careful with how much they are spending on these things,” she said.
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