What Happened in the Oahu Real Estate Market in May 2026?
Oahu's housing market continued its steady pace in May, with strong demand for single-family homes and gradual improvement in the resale condo market.
Oahu's real estate market continued to follow typical seasonal trends in May 2026, with steady buyer demand supporting both home and condo prices. While affordability challenges, economic uncertainty, and global events continue to influence buyer behavior, the island's housing market remains resilient.
Homebuyers continued to compete aggressively for limited single-family home inventory, while the resale condo market showed signs of improving affordability compared to earlier this year. May's market data provides valuable insight into pricing, inventory, competition, and affordability across Oahu.
Direct Answer
In May 2026, Oahu's median single-family home price remained flat year-over-year at $1,170,500, while the median condo price increased 4% to $520,000. Home inventory remained tight, homes sold in just 13 days on average, and more than one in three homes sold above asking price. The condo market remained softer but continued to improve as affordability increased and inventory gradually declined.
“The Oahu real estate market continued to move at a steady pace in May 2026, following seasonal trends,” said Interim Chief Executive Officer for Locations Chad Takesue. “We've seen a slight lift in both the single-family home and resale condo markets, with median prices up two percent since the beginning of the year.”
Year-to-date, both home and condo prices are up 2% compared to the same period last year. Home sales have increased 6% year-to-date, while condo sales are down 6%, highlighting the continued strength of demand in the single-family home market.
At the end of May, there were 783 homes and 2,522 resale condos available for sale. Home inventory was down 10% compared to last year, while resale condo inventory declined 5%. Months of Remaining Inventory stood at 3.2 months for homes and 7.0 months for condos, reflecting significantly stronger demand in the home market.
Takesue noted that demand remains strongest among single-family homes, where 38.5% of sales were bid above asking price in May—the highest level since 2023. He also pointed to the median market time for homes of just 13 days, the fastest pace seen in four years.
“In spite of headwinds, including economic uncertainty, political instability, and affordability, the Oahu market continues to command strong demand, particularly for homes, from local and offshore buyers alike. We expect these steady market conditions to prevail for the remainder of the year,” he said.
Affordability Is Improving for Condo Buyers
More Resale Condos Are Within Reach
While the resale condo market has been slower to recover from rising insurance and maintenance costs, affordability has improved significantly over the past year.
- 67% of Oahu resale condo inventory is affordable to the median-income family
- 51% of resale condo inventory was affordable one year ago
This improvement gives many buyers more options despite higher mortgage rates and ongoing cost-of-living pressures.
Some of the most affordable condo markets on Oahu include Pearl City-Aiea, where all available inventory is considered affordable to the median-income family, along with Leeward Oahu, Mililani, Makakilo, Waipahu, Ewa, and several urban neighborhoods including Makiki, Moiliili, and Waikiki.
Affordable Single-Family Home Options Remain Limited
Home Affordability Has Improved, But Supply Remains Tight
Affordability remains much more challenging in the single-family home market.
- 10% of Oahu homes for sale are affordable to the median-income family
- 5% of Oahu homes were affordable one year ago
While affordable home inventory remains limited, the percentage of homes within reach of the median-income family has doubled compared to last year.
Most affordable single-family home opportunities can be found in Leeward Oahu, where 38% of available inventory falls within the affordability range. Additional opportunities exist in Ewa and select neighborhoods including Nuuanu-Makiki, West Honolulu, Moiliili, Hauula, Wahiawa, Launani Valley, and Waipahu.
```Neighborhood-Level Trends Across Oahu in May 2026
Market statistics can vary greatly by neighborhood, so it's important to consult a knowledgeable Realtor who has access to market-level data.
Here's a detailed breakdown of key Oahu single-family home market areas, looking at the past 12 months ending May 2026.
Oahu Single-Family Home Market Update
Key single-family home market trends across Oahu regions:
West Honolulu Homes
West Honolulu home sales rose 13% to 161 homes. The median price increased 9% to $1,130,000. The median DOM rose 13% to 18 days. The bid-up percentage increased 3% to 37.9%. MRI declined 49% to 1.6 months, while active listings fell 42% to 22 homes.
Nuuanu-Makiki Homes
Nuuanu-Makiki home sales increased 9% to 127 homes. The median price rose 7% to $1,390,000. The median DOM jumped 67% to 35 days. The bid-up percentage fell 14% to 23.6%. MRI declined 3% to 4.9 months, while active listings increased 6% to 52 homes.
Manoa Homes
Manoa home sales increased 4% to 74 homes. The median price declined 6% to $1,595,000. The median DOM fell 35% to 13 days. The bid-up percentage increased 32% to 29.7%. MRI rose 22% to 3.1 months, while active listings increased 27% to 19 homes.
Kaimuki Homes
Kaimuki home sales increased 11% to 151 homes. The median price increased 4% to $1,285,000. The median DOM declined 12% to 15 days. The bid-up percentage fell 10% to 29.8%. MRI declined 3% to 2.1 months, while active listings increased 8% to 27 homes.
Waialae-Kahala Homes
Waialae-Kahala home sales declined 20% to 75 homes. The median price increased 11% to $2,620,000. The median DOM jumped 77% to 23 days. The bid-up percentage fell 28% to 25.3%. MRI increased 25% to 3.5 months, while active listings were unchanged at 22 homes.
East Oahu Homes
East Oahu home sales increased 12% to 76 homes. The median price declined 3% to $1,765,000. The median DOM remained unchanged at 18 days. The bid-up percentage increased 11% to 34.2%. MRI declined 6% to 3.3 months, while active listings increased 5% to 21 homes.
Hawaii Kai Homes
Hawaii Kai home sales increased 4% to 144 homes. The median price declined 1% to $1,637,500. The median DOM rose 13% to 18 days. The bid-up percentage fell 7% to 25.7%. MRI declined 21% to 2.7 months, while active listings fell 18% to 32 homes.
Kailua Homes
Kailua home sales increased 7% to 247 homes. The median price rose 3% to $1,700,000. The median DOM increased 36% to 19 days. The bid-up percentage fell 5% to 27.5%. MRI declined 11% to 3.1 months, while active listings fell 5% to 63 homes.```
Kaneohe Homes
Kaneohe home sales declined 5% to 193 homes. The median price declined 3% to $1,265,000. The median DOM fell 28% to 13 days. The bid-up percentage increased 39% to 40.9%. MRI increased 10% to 3.3 months, while active listings increased 4% to 53 homes.
North Shore Homes
North Shore home sales increased 1% to 77 homes. The median price increased 8% to $1,625,000. The median DOM rose 28% to 43 days. The bid-up percentage declined 51% to 11.7%. MRI declined 11% to 6.9 months, while active listings fell 10% to 44 homes.
Leeward Homes
Leeward home sales declined 4% to 219 homes. The median price declined 2% to $655,600. The median DOM increased 5% to 45 days. The bid-up percentage increased 27% to 30.1%. MRI increased 14% to 6.7 months, while active listings increased 10% to 123 homes.
Ewa Homes
Ewa home sales increased 24% to 543 homes. The median price increased 2% to $935,000. The median DOM increased 21% to 29 days. The bid-up percentage declined 7% to 29.1%. MRI declined 26% to 3.2 months, while active listings fell 9% to 144 homes.
Makakilo Homes
Makakilo home sales increased 23% to 121 homes. The median price declined 6% to $1,030,000. The median DOM increased 57% to 36 days. The bid-up percentage increased 6% to 28.1%. MRI declined 47% to 1.9 months, while active listings fell 34% to 19 homes.
Waipahu Homes
Waipahu home sales declined 5% to 180 homes. The median price declined 1% to $950,000. The median DOM increased 14% to 16 days. The bid-up percentage increased 1% to 40.0%. MRI declined 24% to 1.4 months, while active listings fell 28% to 21 homes.
Mililani Homes
Mililani home sales declined 1% to 152 homes. The median price declined 1% to $1,085,000. The median DOM increased 21% to 18 days. The bid-up percentage increased 11% to 38.2%. MRI declined 39% to 1.2 months, while active listings fell 40% to 15 homes.
Pearl City-Aiea Homes
Pearl City-Aiea home sales increased 11% to 226 homes. The median price increased 4% to $1,134,500. The median DOM increased 8% to 14 days. The bid-up percentage declined 1% to 33.2%. MRI declined 33% to 1.6 months, while active listings fell 25% to 30 homes.
Here's a detailed breakdown of key Oahu condo market areas, looking at the past 12 months ending May 2026.
Oahu Condo Market Update
Key condo market trends across Oahu regions:
Salt Lake Condos
Salt Lake condo sales increased 15% to 155 units. The median price declined 2% to $400,000. The median DOM rose 70% to 56 days. The bid-up percentage declined 42% to 10.3%. MRI declined 19% to 6.7 months, while active listings fell 7% to 86 condos.
Downtown-Nuuanu Condos
Downtown-Nuuanu condo sales declined 3% to 231 units. The median price declined 5% to $375,000. The median DOM increased 58% to 57 days. The bid-up percentage declined 12% to 10.0%. MRI declined 14% to 6.2 months, while active listings fell 17% to 119 condos.
Ala Moana-Kakaako Condos
Ala Moana-Kakaako condo sales increased 10% to 705 units. The median price increased 1% to $777,000. The median DOM declined 7% to 52 days. The bid-up percentage increased 17% to 6.4%. MRI declined 16% to 8.2 months, while active listings fell 7% to 482 condos.
Makiki Condos
Makiki condo sales declined 5% to 257 units. The median price declined 5% to $350,000. The median DOM declined 8% to 39 days. The bid-up percentage declined 22% to 8.9%. MRI declined 17% to 5.4 months, while active listings fell 21% to 115 condos.
Waikiki Condos
Waikiki condo sales declined 11% to 820 units. The median price declined 2% to $452,500. The median DOM increased 43% to 53 days. The bid-up percentage declined 35% to 6.7%. MRI increased 22% to 10.4 months, while active listings increased 9% to 713 condos.
Kapiolani-University Condos
Kapiolani-University condo sales increased 6% to 225 units. The median price declined 2% to $395,000. The median DOM increased 33% to 38 days. The bid-up percentage declined 54% to 6.7%. MRI declined 2% to 7.5 months, while active listings increased 4% to 140 condos.
Diamond Head-Kahala Condos
Diamond Head-Kahala condo sales increased 2% to 118 units. The median price declined 5% to $642,500. The median DOM surged 136% to 59 days. The bid-up percentage declined 12% to 7.6%. MRI declined 30% to 4.4 months, while active listings fell 28% to 43 condos.
Hawaii Kai Condos
Hawaii Kai condo sales increased 16% to 160 units. The median price declined 2% to $837,000. The median DOM increased 68% to 42 days. The bid-up percentage declined 50% to 8.8%. MRI declined 24% to 5.8 months, while active listings fell 11% to 77 condos.
Kailua Condos
Kailua condo sales increased 4% to 98 units. The median price increased 1% to $825,000. The median DOM increased 59% to 30 days. The bid-up percentage declined 54% to 10.2%. MRI declined 4% to 4.0 months, while active listings were unchanged at 33 condos.
Kaneohe Condos
Kaneohe condo sales declined 5% to 156 units. The median price remained flat at $653,750. The median DOM increased 56% to 25 days. The bid-up percentage declined 41% to 15.4%. MRI declined 33% to 3.5 months, while active listings fell 36% to 46 condos.
Leeward Condos
Leeward condo sales declined 7% to 124 units. The median price increased 9% to $250,000. The median DOM declined 9% to 40 days. The bid-up percentage declined 3% to 14.5%. MRI remained unchanged at 9.6 months, while active listings fell 7% to 99 condos.
Ewa Condos
Ewa condo sales increased 7% to 369 units. The median price declined 8% to $620,000. The median DOM increased 37% to 41 days. The bid-up percentage declined 18% to 25.7%. MRI increased 4% to 7.4 months, while active listings increased 11% to 228 condos.
Makakilo Condos
Makakilo condo sales were unchanged at 94 units. The median price declined 5% to $524,000. The median DOM increased 69% to 44 days. The bid-up percentage increased 21% to 37.2%. MRI declined 13% to 4.3 months, while active listings fell 13% to 34 condos.
Waipahu Condos
Waipahu condo sales increased 20% to 180 units. The median price declined 3% to $480,000. The median DOM increased 46% to 35 days. The bid-up percentage increased 3% to 26.7%. MRI declined 45% to 2.7 months, while active listings fell 34% to 40 condos.
Mililani Condos
Mililani condo sales declined 3% to 263 units. The median price increased 1% to $515,000. The median DOM increased 41% to 38 days. The bid-up percentage declined 18% to 27.0%. MRI declined 3% to 4.3 months, while active listings fell 6% to 95 condos.
Pearl City-Aiea Condos
Pearl City-Aiea condo sales declined 7% to 252 units. The median price declined 10% to $420,000. The median DOM increased 85% to 50 days. The bid-up percentage declined 22% to 17.9%. MRI declined 20% to 4.6 months, while active listings fell 25% to 97 condos
