O'ahu Home Sales Decline in October as Inventory Increases

Half of condo sales and 37% of single-family home sales close in more attainable price ranges

O'ahu's housing market saw slower sales activity in October, with single-family home sales declining 8.4% year-over-year to 239 transactions and condo sales falling 23.5% to 339. Despite October’s decline, year-to-date single-family home sales remained 4.3% ahead of 2025, while condo sales trailed by 4.9%. In October, 37% of single-family home sales were below $1 million and 50% of condo sales were below $500,000. Across both markets, 1,761 properties priced at $500,000 and below sold year-to-date, with 1,251 active listings available in that price range at month’s end.

Highlights from our October Monthly Statistics Report:

Median sales prices declined in both markets, with the single-family home median dipping 1.1% year-over-year to $1,150,000 and the condo median declining 6.7% to $499,000. Year-to-date, the single-family home median remained 2.6% above last year at $1,180,000, while the condo median was unchanged at $510,000.
Single-family homes continued to move quickly, spending a median of 15 days on market compared to 26 days a year ago, while condo median days on market increased from 44 to 49 days.
The share of properties closing above their original asking price increased in both markets, with one in three single-family home sales closing above asking price compared to one in four a year ago. For condos, the share increased slightly from 10% to 11%.
The month ended with more active inventory across both markets, with 805 single-family home listings, up 3.9% year-over-year, and 2,506 condo listings, up 7.0%. Of those, 1,251 properties were priced at $500,000 and below.

"Higher mortgage rates compared to a year ago are putting additional pressure on buyers' budgets, and we're seeing that reflected in slower sales and fewer contracts being signed. At the same time, single-family homes are still moving relatively quickly, with more sellers receiving offers above their original asking price. Buyers may be taking a more cautious approach overall, but competition remains in the market," said Aaron Tangonan, president of the Honolulu Board of REALTORS®.