O‘ahu Housing Market Closes 2025 with Gains in Sale
Mortgage rates, insurance costs, and broader economic conditions influenced O‘ahu’s housing market in 2025
HONOLULU – According to resale figures released this week by the Honolulu Board of REALTORS®, O‘ahu’s residential markets closed out 2025 on a positive note, with December transactions rising by double digits in both markets. Single-family home sales jumped 18.4% year-over-year, with 270 transactions compared to 228 in December 2024. The condo market ended the month with 360 units sold, an 11.5% increase from 323 units a year ago.
Using data collected from its computerized Multiple Listing Service (MLS) system, the Board reported the following statistics:
Single-Family Home Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| DECEMBER 2025 | 270 18.4% | $1,100,000 3.5% |
| DECEMBER 2024 | 228 | $1,054,500 |
Condominium Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| DECEMBER 2025 | 360 11.5% | $512,000 -5.2% |
| DECEMBER 2024 | 323 | $540,000 |
The median sales price for single-family homes rose 4.3% year-over-year to $1,100,000, while the condo median sales price dropped to $512,000 from last December’s record high. In the single-family home market, sales priced at $1 million and above increased 28.0% year-over-year in December, while sales priced at $999,999 and below grew by 6.8%. In the condo market, December sales growth occurred primarily in the $200,000 to $399,999 range, which surged by 52.2% year-over-year.
“December activity shows there continues to be demand across both markets, particularly in specific price ranges,” said Aaron Tangonan, president of the Honolulu Board of REALTORS®. “At the same time, pricing and buyer behavior reflect the broader conditions that shaped the market throughout 2025.”
Buyer demand in the single-family home market concentrated in the $700,000 to $1,399,999 price range in December, which accounted for nearly two-thirds of contract signings for the month. Pending sales in that range totaled 129 transactions, representing 64.5% of December activity.
Single-family homes moved into contract at nearly the same pace as a year ago, with a median of 22 days on market compared to 20 days in December 2024. Condos spent more time on the market, as the median days on market rose from 36 to 44 days.
New listings declined in both markets in December. Single-family home listings decreased 7.9% year-over-year to 186 new listings, while condo listings dipped 1.3% to 445. Active inventory for single-family homes declined 5.9% from year-end 2024 levels to 635 listings, while condo active inventory climbed 12.3% year-over-year to 2,165 units.
Buyer activity in the single-family home market remained consistent with last December, with 200 pending sales compared to 194 a year ago, a 3.1% increase. Condo buyer activity softened, with pending sales dropping 9.0% year-over-year from 310 to 282. In December, 24% of single-family home transactions closed above the original asking price, down from 32% a year ago, while 8% of condo transactions closed above asking price, compared to 12% in December 2024.
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 MLS data is compiled from sales reported during the cited months and is known only after the closing of escrow.
The public is encouraged to visit www.hicentral.com to see what’s happening in the housing market. Consumers can browse O‘ahu single-family home and condominium listings, available for sale and for rent, and see a comprehensive guide of homes open for viewing on Sunday. All searches can be filtered by geographic location and/or price range, with resources available for buyers and sellers alike.
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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