The Oahu real estate market continued to follow stable seasonal patterns in September 2024, with sales following typical trends, prices flat-to-slightly rising and homes are on the market for about 3 to 4 weeks. Lower mortgage rates and a generally positive economic outlook could drive increased sales activity in the coming months, as buyers and sellers regain confidence in the market.

Heading into fall, the economic outlook is generally positive for the Oahu real estate market. Mortgage interest rates are below 6.5 percent and will likely continue to edge slightly lower over the next several months. As rates come down, an increase in demand is expected, particularly among first-time homebuyers.

Wondering how the Oahu real estate market is performing in 2024 (and where it's headed next)? Check out the 2024 Mid-Year Oahu Real Estate Market Update from Locations' Research Department. The below report provides a detailed look at current trends, as well as a look ahead. Whether you plan to buy, sell, or are simply interested in the local market, read on for insights into the factors that are shaping Oahu's real estate landscape.

At more than halfway through 2024, the Oahu single-family home market is gaining steam while the condo market continues to show signs of easing. Despite higher borrowing costs, home prices are rising, and for-sale inventory is unchanged. On the other hand, condo prices haven’t moved from a year ago, and inventory is approaching a balanced-market level.