Oʻahu Housing Market Remains Steady in August
Single-family home and condo markets see moderate changes in median price, mixed sales, and shifting inventory levels
HONOLULU— According to figures released today by the Honolulu Board of REALTORS®, 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.
Using data collected from its computerized Multiple Listing Service (MLS) system, the Board reported the following statistics:
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 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.
“Buyers appear to be responding to a gradual easing in mortgage rates, which created momentum in the single-family home market,” said Trevor Benn, President of the Honolulu Board of REALTORS®. “Condo activity is holding steady, though affordability considerations and longer days on market continue to influence buyer behavior.”
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.
Media Kit
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.
The public is encouraged to visit www.hicentral.com to see what’s happening in the housing market. Consumers have the ability to browse O‘ahu single-family home and condominium listings, available for sale and for rent, and to see a comprehensive guide of homes that will be open to view on Sunday. All searches can be done by geographic location and/or price range, and hicentral.com provides useful information about buying and selling real estate in Hawaiʻi.
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 6,400 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.
Kristen Kunimura
Megan Tsuchida