Buyer Momentum Builds as Pending Sales Surge in August

Oʻahu’s housing market continued to show signs of transition in August, with buyers becoming increasingly active amid evolving price trends and inventory levels. While overall sales volume remained slightly below last year’s pace, a notable surge in pending single-family home sales—marking the highest monthly total so far in 2025—indicates growing confidence among buyers. Condo activity remained steady, and regional shifts in both new listings and inventory suggest a more dynamic market environment heading into fall.

Sales activity in the single-family home market was relatively stable across price ranges, with the $900,000 to $1,199,999 segment seeing the most movement—up 19.4% year-over-year. ʻEwa Plain led regional growth with a 30.0% increase in closed sales, while pending sales surged in multiple areas, including a 64.7% jump in ʻEwa Plain and a 48.0% increase 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, signaling strength in the luxury market. However, Pearl City saw the sharpest decline, falling 68.8% to just 10 sales. Pending condo sales rose in the Metro region by 13.4% to 245 contracts, though activity declined in Central Oʻahu and ʻEwa Plain.

Elevated inventory levels and longer days on market are giving buyers more time to evaluate options, while price adjustments across segments are creating new opportunities. These conditions are contributing to a more balanced market, where both buyers and sellers are adjusting to shifting dynamics.

“We’re seeing a noticeable uptick in buyer activity, especially in the single-family home segment,” said Mike James, president of Coldwell Banker Realty. “With more inventory and price adjustments, buyers are stepping off the sidelines and making moves. It’s a promising sign as we head into the fall season.”

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

Single-family home sales rose 2.4% year-over-year—from 253 in August 2024 to 259 this year. Year-to-date, single-family home sales are down 2.2%, with 1,842 homes sold through August compared to 1,883 in the same period last year.

Condominium sales dipped 2.5% year-over-year—from 401 units in August 2024 to 391 this year. Year-to-date condo sales are down 4.7%, with 2,881 units sold compared to 3,024 in the same period last year.

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

The median sales price of a single-family home in August 2025 was $1,105,500—a slight 1.5% decrease from $1,122,500 in August 2024. Year-to-date, the median stands at $1,140,000, up 3.6% from $1,100,000 in the same period last year.

Condominium prices rose modestly. The August 2025 median was $515,000, a 3.0% increase from $500,000 a year ago. Year-to-date, the condo median is $505,000, down just 0.6% from $508,000 in the same period last year.

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.

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.

SOURCE: Honolulu Board of REALTORS®, compiled from MLS data.