Oʻahu Buyers Find Opportunity in October as Half of Condos Sell Under $500,000
Half of condo sales and 37% of single-family home sales close in more attainable price ranges
HONOLULU — According to resale figures released today by the Honolulu Board of REALTORS® (HBR), 37% of single-family homes across O‘ahu sold below $1 million in October. Condo sales below $500,000 accounted for half of condo transactions, with 171 units sold. Across both markets, 176 properties priced at $500,000 and below sold during the month, bringing the year-to-date total to 1,761 transactions.
At the end of October, 49% of active condo listings across Oʻahu (1,218 units) were priced under $500,000, while 28% of single-family home active listings (224 homes) were priced below $1 million. Overall, 1,251 active listings were priced at $500,000 and below.
Using data collected from its Multiple Listing Service (MLS) system, the Board reported the following statistics:
“Higher mortgage rates compared to a year ago are putting additional pressure on buyers’ budgets, and we’re seeing that reflected in slower sales and fewer contracts being signed,” said Aaron Tangonan, president of the Honolulu Board of REALTORS®. “At the same time, single-family homes are still moving relatively quickly, with more sellers receiving offers above their original asking price. Buyers may be taking a more cautious approach overall, but competition remains in the market.”
Overall, single-family home sales declined 8.4% year-over-year to 239 transactions in October, while condo sales fell 23.5% to 339. Despite the monthly slowdown, year-to-date single-family home sales remained 4.3% ahead of 2025, while condo sales trailed last year’s pace by 4.9%.
The median sales price for single-family homes decreased 1.1% year-over-year to $1,150,000, while the condo median declined 6.7% to $499,000. Year-to-date, the single-family home median rose 2.6% to $1,180,000, while the condo median remained unchanged at $510,000.
Additional Market Insights for October:
- Single-family homes continued to sell faster than a year ago, spending a median of 15 days on the market compared to 26 days last October. Condo median days on market increased from 44 to 49 days.
- Pending sales declined in both markets, falling 16.2% year-over-year to 218 for single-family homes and 3.1% to 313 for condos.
- One in three single-family home sales closed above the original asking price, compared to one in four last October. In the condo market, 11% of sales closed above asking, compared to 10% a year ago.
- New listings declined 2.6% year-over-year for single-family homes and 5.5% for condos.
- The month ended with more active inventory in both markets, up 3.9% to 805 single-family home listings and 7.0% to 2,506 condo listings.
October Homebuyer Highlights
As housing affordability remains a priority for local families, programs like the Hawaiʻi Housing Finance and Development Corporation’s (HHFDC) Hale Kamaʻāina Mortgage Program continue to create more opportunities for residents to purchase homes and remain in Hawaiʻi. Through below-market mortgage rates, the program helps eligible first-time homebuyers take steps toward homeownership.
Since the program celebrated its first three homeowners in May, the number of closed loans has grown to 69 as of Sept. 30, 2026, with 85 loans approved and roughly $38 million in financing reserved. Strong demand exhausted the program's initial $30 million allocation in July, and an additional $53.8 million in new funding was recently made available.
“Programs like Hale Kamaʻāina are opening doors to homeownership for local families who want to put down roots in Hawaiʻi,” adds Tangonan. “Seeing the program grow from its first few homeowners to dozens of completed purchases in just a few months speaks to both the demand for these resources and the opportunities they can create. Continued investment in programs that support homeownership is important to helping more residents build their futures here.”
Homeownership Resources and Opportunities
On Nov. 10–11, the Honolulu Board of REALTORS® will serve as presenting sponsor of Priced Into Paradise – West Oʻahu 2026, a complimentary, two-day homeownership event at Hyatt Place at Hoʻopili in ʻEwa Beach. This marks HBR’s third year as presenting sponsor of the event, bringing together nearly 30 participating organizations and housing professionals to help local residents learn about the homebuying process and available resources.
Attendees can participate in Homebuying 101 sessions, receive one-on-one guidance from housing professionals and join a town hall discussion focused on homeownership opportunities and challenges in Hawaiʻi. The event is complimentary, with advance registration required at pricedintoparadise.org.
Additional resources available to prospective first-time homebuyers include:
- Homebuyer Education & Coaching: HBR’s HOPE Homebuyer Education Program, offered in partnership with Hawaiʻi HomeOwnership Center, provides education, one-on-one coaching and mortgage readiness support. Since 2021, nearly 900 participants have enrolled, with 70% purchasing a home or entering escrow within six to 18 months of program completion.
- Bank-Sponsored First-Time Homebuyer Programs: Several local lenders offer programs designed to support eligible first-time homebuyers, including American Savings Bank’s This is HOME Program, First Hawaiian Bank’s First Step Home LoanSM, Bank of Hawaiʻi’s First-Time Homebuyer Program and Territorial Savings Bank’s First-Time Homebuyer Special.
- Native Hawaiian Homeownership Assistance: OHA’s Access to Homeownership Program helps eligible Native Hawaiian first-time homebuyers qualify for a mortgage with a lower down payment and no private mortgage insurance through a partnership with American Savings Bank.
Media Kit
The information contained in this report is provided to the National Association of REALTORS® and the Hawaiʻi State Department of Business, Economic Development 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 escrow closes.
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.
About the Honolulu Board of REALTORS®
Established in 1922, the Honolulu Board of REALTORS® is one of the largest of 1,100 boards of REALTORS® in the nation and, with more than 6,300 members, is one of the largest trade organizations on O‘ahu. Membership is available to licensed real estate brokers, agents, property managers, appraisers, counselors, and others engaged in all aspects of the real estate industry who pledge to adhere to a strict Code of Ethics and Standards of Practice. The Honolulu Board of REALTORS® and its members are committed to serving as housing advocates, community builders and good neighbors. For more information, call (808) 732-3000 or visit www.hicentral.com.
