Inventory Expands as Buyer Activity Holds Steady in October

Oʻahu’s housing market maintained a steady pace in October, with single-family home sales holding flat year-over-year and condominium transactions posting modest gains. While overall activity remains resilient, longer days on market and shifting price dynamics suggest buyers are proceeding with caution amid evolving conditions.

Sales trends varied across price points. In the single-family segment, mid-range activity softened, with sales in the $700,000 to $999,999 range down nearly 19%. Conversely, the luxury market saw notable strength—sales at $1.9 million and above surged nearly 39%, though most closed below original asking prices. Condominium sales grew at both ends of the spectrum, with transactions under $299,999 up 50% and high-end sales above $700,000 climbing 21%.

Inventory continued to expand, offering buyers more choices across regions and price brackets. Single-family listings rose 3.7% year-over-year, while condo listings increased 7.4%. Notably, new listings priced at $2 million and above nearly doubled, signaling strong seller confidence in the luxury market. Active inventory gains were most pronounced in Hawai‘i Kai and Kāne‘ohe for single-family homes, and Makakilo and Waipahu for condos.

“October’s market reflects a balancing act between steady buyer demand and growing inventory,” said Mike James, president of Coldwell Banker Realty. “While luxury sales are driving much of the activity, buyers across all segments are benefiting from expanded options and slightly more negotiable conditions.”

Sales of Single-Family Homes and Condos | October 2025
Source: Honolulu Board of REALTORS^®, compiled from MLS data

Single-family home sales were essentially unchanged year-over-year, with 261 transactions compared to 261 last October. Condominium sales rose 9.4%, increasing from 405 to 443 units. Pending sales activity showed slight improvement, with single-family contracts up 4.0% and condo contracts up 1.3%.

Median Sales Price of Single-Family Homes and Condos | October 2025
Source: Honolulu Board of REALTORS^®, compiled from MLS data

The median sales price for single-family homes climbed 5.7% year-over-year to $1,162,500, while the year-to-date median stands at $1,150,000—up 4.5% from the same period in 2024. Condominium prices posted a modest gain, with October’s median at $535,000, a 1.9% increase from last year. Year-to-date, the condo median remains steady at $510,000.

MARKET SPOTLIGHT

This month, we spotlight the most affordable Oahu neighborhoods. If you’re wondering where single-family homes are selling for under $1 million, and condos are selling for under $500,000, here’s the scoop. Happy hunting.