Oʻahu’s housing market in May reflected a mix of momentum and moderation, with gains in single-family home sales contrasting with softer condominium activity. Buyers remained engaged across both segments, supported by stable pricing in the single-family market and rising condo values, while shifting inventory levels and affordability considerations continued to shape market dynamics.
Entry‑level price points continued to serve as a critical foundation for market activity. The $500,000‑and‑below segment saw 157 sales in May and 823 year‑to‑date, supported by 1,193 active listings within that range. This segment remains especially important for first‑time and budget-conscious buyers seeking more accessible entry points into the market.
Sales activity showed a split performance between property types. Single‑family home sales increased 8.5% year over year, rising to 255 transactions from 235 in May 2025, signaling renewed momentum in this segment. In contrast, condominium sales declined 9.4% year over year to 339 closings, down from 374 last year, as some buyers remained cautious amid financing and cost considerations.
Market pace presented mixed trends. Single‑family homes moved more quickly, with median days on market dropping significantly from 21 days to just 13 days, indicating strong demand and competitive positioning. Meanwhile, condominiums experienced a slight slowdown, with median days on market increasing from 39 to 43 days, reflecting more measured buyer decision-making in that segment.
Inventory levels and listing activity showed modest changes. New single‑family home listings rose 3.3% year over year to 405, while condominium new listings dipped slightly by 1.5% to 678 units. Active inventory remained below year-ago levels in both segments, declining 10.8% for single‑family homes and 6.6% for condominiums, continuing to constrain overall supply.
Buyer engagement remained strong, with pending sales increasing 8.8% in the single-family market and 7.0% in the condo market, pointing to continued forward momentum. Competitive conditions also persisted, as 35% of single-family home sales closed above the original asking price, compared to 29% a year ago. In the condo market, 9% of sales closed above asking price, slightly down from 11% last May.
“May’s market performance highlights the resilience of buyer demand, particularly in the single-family segment, even as broader affordability challenges remain,” said Mike James, president of Coldwell Banker Realty. “We’re seeing buyers respond quickly to well-priced homes, while condos continue to present opportunities for those seeking value and long-term investment potential.”
In addition to broader market trends, the release of the Hale Kamaʻāina Mortgage Program continues to support local buyers. In May, the Hawaiʻi Housing Finance and Development Corporation celebrated its first homeowners under the program, which provides below-market rates and down payment assistance. These early success stories highlight how targeted financing initiatives are helping local residents overcome barriers to homeownership and remain in Hawaiʻi.
Sales of Single-Family Homes and Condos | April 2026
Source: Honolulu Board of REALTORS®, compiled from MLS data
Overall sales activity showed mixed results in May compared to the same time last year. Single‑family home sales increased 8.5% year over year to 255 transactions, up from 235 a year ago. In contrast, condominium sales declined 9.4% to 339 closings from 374 in May 2025, reflecting softer activity in that segment despite continued buyer interest.
Median Sales Price of Single-Family Homes and Condos | April 2026
Source: Honolulu Board of REALTORS®, compiled from MLS data
Median sales prices were mixed in May. The median price for single‑family homes remained relatively stable, dipping 0.8% year over year to $1,166,000. Meanwhile, condominium prices increased 4.0% compared to May 2025, rising to $520,000, signaling continued demand and value growth in the condo market.
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.
| Median Sales Price | ||
| Single Family | Year-To-Date | Year-To-Date |
| April 2026 | April 2025 | |
| Ala Moana – Kakaako | $952,500 | $1,240,000 |
| Ewa Plain | $940,000 | $930,000 |
| Makaha – Nanakuli | $602,500 | $620,000 |
| Makakilo | $980,000 | $1,123,694 |
| Wahiawa | $828,000 | $845,000 |
| Waipahu | $960,000 | $975,000 |
| Median Sales Price | ||
| Condo | Year-To-Date | Year-To-Date |
| April 2026 | April 2025 | |
| Downtown – Nuuanu | $410,000 | $522,500 |
| Kalihi – Palama | $355,000 | $392,500 |
| Makaha – Nanakuli | $255,000 | $215,000 |
| Makiki – Moiliili | $370,000 | $375,000 |
| Moanalua – Salt Lake | $435,000 | $405,500 |
| Pearl City – Aiea | $416,000 | $465,000 |
| Wahiawa | $300,000 | $279,500 |
| Waikiki | $468,000 | $445,000 |
| Waipahu | $490,000 | $487,500 |
| Windward Coast | $289,000 | $372,500 |
SOURCE: Honolulu Board of REALTORS®, compiled from MLS data.
For an up-to-date market analysis of your property, contact Coldwell Banker Realty today. We are happy to provide you with a current valuation on your home.
