Oahu Real Estate Market Update – June 2025
June offered a glimpse of renewed momentum across Oʻahu’s housing market. Sales volume ticked up, sellers continued to return, and pricing remained remarkably steady despite higher borrowing costs. Yet the recovery is uneven: year‑to‑date transactions are still trailing 2024 levels, inventory is building fastest in the condo sector, and buyers remain price‑sensitive, taking extra time to commit. In short, we’re seeing a market in transition—one that rewards both strategic pricing and patient house‑hunting.
Source: Honolulu Board of REALTORS®, compiled from MLS data
Sales Edge Higher, but YTD Totals Still Lag
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Single‑family homes: 238 closed sales, up 12.0% year‑over‑year.
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Condominiums: 381 closed sales, a modest 0.8% annual gain.
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Year‑to‑date: Activity remains below the first half of 2024—down 2.1% for single‑family homes and 6.0% for condos—underscoring the lingering impact of elevated interest rates on buyer demand.
Inventory Expands, Giving Buyers More Choice
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New listings: 398 single‑family homes (+19.2% YoY) and 671 condos (+7.9% YoY).
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Active listings: 861 single‑family homes (+31.9% YoY) and 2,542 condos (+47.0% YoY).
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Condo inventory is swelling across every price tier and region; 42% of active condo listings have recorded at least one price reduction, up from 34% a year ago.
Prices Hold Steady in Most Segments
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Median single‑family price: $1,125,000, virtually flat (+0.4% YoY). Roughly 35% of year‑to‑date sales closed under $1 million, versus 42% in the same period last year.
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Median condo price: $510,000, down 3.8% YoY—reflecting buyers’ heightened sensitivity to monthly costs in the face of climbing maintenance fees and mortgage rates.
Where the Action Is
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Single‑family sweet spot: Closings jumped 28.2% in the $800 k–$1.099 M band (109 sales versus 85 last June). Contract signings surged 44.4% in the ʻEwa Plain, signaling solid summer demand in master‑planned communities.
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Condo momentum: Sales grew 11.2% in the $100 k–$699 k bracket (259 units). Pending sales more than doubled in Hawaii Kai (7 → 20) and Waipahu (13 → 27), and climbed 35.5% in ʻEwa Plain (31 → 42).
Longer Days on Market Reflect Deliberate Buyers
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Single‑family homes: Median 24 days on market—about a week longer than a year ago.
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Condos: Median 40 days—roughly two weeks longer. Only Hawaii Kai, Kailua, Kāneʻohe, and Waipahu recorded sub‑30‑day condo marketing times, a sign that well‑priced inventory in lifestyle‑driven submarkets continues to move swiftly.
What This Means for You
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Sellers: Expect more competition, particularly in the condo arena. Pricing strategically from day one—and being prepared for concessions—will help your listing stand out.
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Buyers: Rising inventory is creating fresh opportunities, especially in mid‑range price points. With homes sitting longer, you may find more room to negotiate on price, closing costs, or inspection items.
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Investors: Softening condo prices and increased rental demand could open attractive cash‑flow plays, but diligence on HOA finances and upcoming assessments is critical.
Whether you’re exploring a purchase, planning a sale, or simply weighing your options, an expert perspective is invaluable. Reach out to your trusted Agency advisor for tailored guidance in today’s evolving market.
