O'ahu Housing Market Remained Steady in August

O'ahu Housing Market Remained Steady in August

HONOLULU – According to resale figures released this week by the Honolulu Board of REALTORS®, the O'ahu housing market saw modest shifts across both single-family home and condominium sectors in August. Single-family home sales increased slightly by 2.4%, while condo sales dipped 2.5%. Median prices showed stability overall, with single-family homes down 1.5% to $1,105,500 and condos up 3.0% to $515,000.

Using data collected from its computerized Multiple Listing Service (MLS) system, the Board reported the following statistics:

Single-Family Home Resales

Condominium Resales

August sales activity reflected moderate shifts in sales volume and median prices compared to a year ago. Single-family home sales rose modestly by 2.4%, from 253 to 259 transactions, while condo sales dipped 2.5%, from 401 to 391 closed sales. Year-to-date, overall sales volume
remains below 2024 levels, down 2.2% for single-family homes and 4.7% for condos.

The August median sales price for a single-family home declined slightly, dipping 1.5% year-over-year to $1,105,500. Condos posted a modest 3.0% increase to $515,000. Year-to-date, the single-family home median remains up 3.6% at $1,140,000, while the condo median is relatively flat,down 0.6% at $505,000. Buyers in the single-family home market were particularly active in August, with pending sales jumping 28.5% year-over-year to 302—the highest monthly total so far this year. Pending condo sales were steady, slipping just 1.0% with 406 contract signings.

New listing activity varied by market segment. Single-family home listings declined 8.1% year-over-year to 318, with most of the slowdown seen under the $2 million price point. In contrast, new listings priced at $2 million and above surged 40.8% with 69 additions, led by the East Honolulu and Windward regions. Condo listings rose 2.2% year-over-year with 643 new units, nearly half of which were priced between $300,000 and $599,999. Inventory trends remained mixed. At the end of August, single-family home active inventory totaled 790, slightly more than last year but dropping 7.3% month-over-month.

Condo active inventory stood at 2,412 units, elevated 28.4% from last year but easing 1.9% from July. Islandwide, single-family homes spent longer on the market, with the median days on market increasing to 22 days compared to 14 a year ago. For condos, median days on market lengthened to 48 days, compared to 28 in August 2024.

In the single-family home market, sales activity was relatively stable across price ranges, with the $900,000 to $1,199,999 range experiencing the most movement, rising 19.4% year-over-year. ʻEwa Plain led regional growth with a 30.0% jump in sales, while pending sales surged in multiple regions—up 64.7% in ʻEwa Plain and 48.0% in the Diamond Head region. Condo sales showed mixed results by region and price point. The $1 million and above segment grew 32.5% to 53 sales, while Pearl City saw the sharpest regional decline, falling 68.8% to 10 sales. Pending sales in the Metro region rose 13.4% year-over-year to 245, though activity declined in Central O‘ahu and ʻEwa Plain. 

The information contained in this report is provided to the National Association of REALTORS® and the Hawaiʻi State Department of Economic Development, Business and Tourism for its official reports. This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow.

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