Oahu Real Estate Market Report

Year-End Perspective & Looking Ahead

 

As we close out the year, the Oʻahu real estate market appears to be in a period of transition. Over the past two years, the number of closed real estate transactions has been significantly lower than during the COVID-era surge, both here in Hawaiʻi and across the United States. Higher interest rates reduced buying power, and many homeowners with historically low mortgage rates chose to stay put rather than give up those favorable loan terms.

 

Recently, however, we have begun to see encouraging signs particularly in the single-family home market. According to the latest data from the Honolulu Board of Realtors, year-to-date median sales prices for single-family homes increased from $1,100,000 in 2024 (through November) to $1,141,500 in 2025, representing a 3.8% increase. Even more notable, closed single-family home sales in November rose from 203 in 2024 to 241 in 2025—an 18.7% increase—suggesting renewed buyer confidence.

 

The condominium market has faced challenges in 2025. Factors such as hurricane insurance complications affecting financing, rising maintenance fees and special assessments tied to capital improvement projects, and higher interest rates have contributed to slower activity. As a result, the year-to-date median condo price dipped slightly from $510,000 in 2024 to $507,750 in 2025, a modest 0.4% decrease. Year-to-date days on market also increased from 29 days in 2024 to 44 days in 2025, reflecting a more deliberate pace for condo buyers.

 

Looking ahead, many economists anticipate a more favorable real estate environment in 2026, with moderate growth in both closed sales and prices. Lower mortgage interest rates are encouraging more buyers to re-enter the market, while existing homeowners are becoming more willing to sell, upgrade, or reposition their real estate to meet changing family or investment needs.

 

On a local level, the return of Japanese visitors is a positive sign for Hawaiʻi’s broader economy, and over time, insurance-related issues impacting condominium projects are expected to normalize. As these challenges are resolved, the condo market should gradually return to a more balanced and stable sales pattern.

 

In summary, the Hawaiʻi real estate market appears positioned for a mild recovery in 2026. I move into the new year with optimism and daily gratitude for the opportunity to live and work in a place where both the people and the surroundings are truly special.

 

Happy Holidays, and here’s to a healthy, prosperous, and fabulous 2026!

Oahu Luxury Real Estate Neighborhood Map - Kahala, Diamond Head, and Hawaii Kai Market Data
 

Oahu Neighborhood Insights & Expert Analysis

The Kiriu Sasaki Team, led by Myron Kiriu and Sherrie Sasaki, pulls and analyzes data from major Oahu luxury neighborhoods and local communities. We update this information quarterly to ensure that the Kiriu Sasaki Team is your neighborhood expert for buying or selling a home in Hawaii.

Our Specialized Neighborhood Maps Include:

  • East Honolulu Luxury Real Estate: Kahala, Diamond Head, Waialae Iki, Waialae Nui, Aina Haina, Hawaii Loa Ridge, Niu Valley, Kuliouou.

  • Hawaii Kai Communities: Portlock, Koko Kai, West Marina, Mariners Ridge, Hahaione, Mariners Cove, Kalama Valley.

  • Metro Honolulu & Ridges: Nuʻuanu, Makiki Heights, Manoa, St. Louis Heights, Wilhelmina Rise, Kaimuki, Kapahulu.

 
 

About the Kiriu Sasaki Team

Myron Kiriu and Sherrie Sasaki, leaders of the Kiriu Sasaki Team at REMAX Hawaii
Myron Kiriu and Sherrie Sasaki, leaders of the Kiriu Sasaki Team at REMAX Hawaii

The Kiriu Sasaki Team is led by Myron Kiriu and Sherrie Sasaki, a partnership that combines deep financial strategy with legal and technical precision. Myron, a former CPA with decades of experience in Hawaii's luxury market, is widely recognized as one of the island's top negotiators.

Sherrie brings a unique perspective as a former practicing attorney and project geologist. Her Juris Doctorate and scientific background allow the team to navigate complex legal liabilities and technical property issues with a level of competency rarely found in the industry. Together, they provide a "client-first" approach that has made them a household name in Oʻahu real estate for over 35 years.

A Legacy of Excellence: Awards & Recognition:

Our commitment to our clients has resulted in the Kiriu Sasaki Team being consistently recognized as industry leaders. Some of our most recent honors include:

Voted “Hawaii’s Best” Realtor, 9 years

By Honolulu Star Advertiser readers (2013, 2014, 2015, 2018, 2019, 2020, 2021, 2022, 2024)

Best in Real Estate, 6 years

By Honolulu Magazine subscribers (2014, 2017, 2018, 2019, 2020, 2021)

Best Real Estate Agent, 2024

By Hawaii Home + Remodeling Magazine

 

Ready for a more detailed analysis of your property’s value? Contact the Kiriu Sasaki Team by filling out the form below: