Oahu Real Estate Market Report - July 2025

Oahu Real Estate Market Update – July 2025

July brought a mix of subtle shifts and steady trends across Oʻahu’s housing market. Single-family home sales pulled back compared to last year, while condo sales held even. Buyer activity, however, showed fresh momentum with contract signings up in both segments, hinting at a potentially busier late summer.

Year-over-year, single-family home sales slipped 7.4% to 249 transactions, while condos held steady at 389 units. Year-to-date totals remain slightly below 2024, down 2.9% for single-family homes and 5.1% for condos.

July Market Report

Prices Ease in Both Segments

The median single-family home price dipped 5.7% from last July to $1,075,000, while condos recorded a 3.7% decline to $490,000. Despite interest rates holding steady, buyers showed more willingness to engage—pending sales climbed 9.8% for single-family homes (280 contracts) and 13.2% for condos (430 contracts).

Inventory Holds Above 2024 Levels

Active listings stayed higher than last year—up 18.0% for single-family homes and 31.7% for condos—though both categories saw slight month-to-month declines (-1.0% and -3.3%, respectively).

Where the Action Is – Single-Family Homes

The $800k–$999k range remained the most active, with sales up 20.0% to 78 units, representing nearly one-third of the market. Hawai‘i Kai homes sold fastest at just 8 days on market, followed by Metro and Waipahu at 12 days. By contrast, Makakilo, ʻEwa Plain, and Pearl City averaged 25–30 days. Notably, 26% of July’s single-family sales closed over asking price.

Where the Action Is – Condominiums

Condos between $300k–$499k led activity, making up 36.5% of July sales with a 10.9% year-over-year increase. Sales surged in ʻEwa Plain (+60.9%), Pearl City (+57.9%), and Waipahu (+90.9%), while Metro dipped 16.2%. Days on market lengthened to 50 overall, though Kāneʻohe and Central stayed at 30 or less.

Takeaways

Sellers: Expect competitive conditions, especially in the condo market. Pricing correctly from day one remains critical.
Buyers: Higher inventory and longer market times offer more negotiating room.
Investors: Softening prices and rising rental demand could create strong opportunities—due diligence is key.