What Happened in the Oahu Real Estate Market in April 2025?
“The Oahu real estate market was softer in April 2025, compared to last month and a year ago,” said Chief Sales Officer for Locations Chad Takesue. “Single-family homes and condos were on the market longer and buyer competition was lower—the opposite of what we’d expect to see this time of year.”
Taksue said that while erratic and unstable economic conditions are causing hesitation in the market, there is still demand for homes and condos. “The good news for homebuyers is that we have more homes on the market this year than last spring, particularly in areas that are popular with first-time homebuyers, like Ewa.” He added that mortgage rates, while higher than they were a few years ago, remain around 6.7%—about the same as last April.
Single-family home supply is 29 percent higher than a year ago. For-sale inventory in Ewa—Oahu’s largest single-family market—has increased by 66 percent to 164 homes. Leeward, the second-largest market, has 109 homes for sale. Both the Ewa and Leeward markets have a greater share of relatively affordable single-family homes, compared to other parts of the island. In Makakilo and Mililani, where the median home price is also below the island-wide median, for-sale inventory has nearly doubled. Oahu’s third-largest home market, Kailua, has 54 homes for sale, a 35 percent increase over last year. Increased for-sale inventory affords buyers more choices and greater leverage with sellers.
Resale condo inventory has grown by 56 percent from a year ago, bringing supply to 7 months of remaining inventory and signaling a buyer’s market. For-sale condo inventory is greatest in Waikiki and Ala Moana-Kakaako, which accounts for 45 percent of all available resale units. In Ewa, condo inventory has nearly doubled from last year, with 189 units for sale at the end of April—providing opportunities for buyers looking for more affordable townhomes. Condo inventory has doubled in Kaneohe, Makakilo and Pearl City-Aiea, tripled in Kailua and Waipahu, and is up 320 percent in Hawaii Kai to 84 listings at the end of April.
Key Takeaways from the April 2025 Locations Oahu Real Estate Report
New to real estate market data terms? See our glossary.
- The Oahu median single-family home price is flat-to-rising in 2025, while the median condo price is flat-to-falling. In April 2025, the median single-family home price increased by seven percent from a year ago to $1,175,000, while the median condo price decreased by four percent from last year to $505,000.
- Sales in April 2025 were muted. Single-family home sales declined by nine percent from a year ago, while condo sales fell by eight percent.
- Single-family home inventory remains low but is 29 percent higher than a year ago. Condo inventory is 56 percent higher than last year. There were 853 single-family homes and 2,598 condos available for sale at the end of April.
- At the end of April, the supply-demand measure of Months of Remaining Inventory (MRI) rose 26 percent for single-family homes and 60 percent for condos over last year. MRI is 3.7 months for homes and 7 months for condos, above the supply-demand balance point.
- Market times for both single-family homes and condos increased in April 2025, defying seasonal trends. Single-family homes were on the market for a median of 28 days in April, while condos were on the market for a median of 42 days.
- In April 2025, 26.8 percent of homes sold and 14.4 percent of condos sold were bid-up over the asking price, about one in every four homes and one in every seven condos. Competition is easing, contrary to the typical summer swell.
What Happened in Oahu Single-Family Home Markets in April 2025?
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:
West Honolulu Homes
West Honolulu home sales rose by 19% to 139 homes. The median price remained stable at $1,020,000. The median DOM increased by 29% to 18 days. The bid-up percentage grew by 1% to 35.3%. MRI declined by 12% to 3.8 months, and active listings fell by 33% to 44 homes.
Nuuanu-Makiki Homes
Nuuanu-Makiki home sales increased by 14% to 119 homes. The median price rose by 13% to $1,300,000. The median DOM decreased by 23% to 17 days. The bid-up percentage improved by 21% to 30.3%. MRI decreased by 3% to 4.7 months, while active listings grew by 18% to 47 homes.
Manoa Homes
Manoa home sales increased by 17% to 69 homes. The median price rose by 11% to $1,680,000. The median DOM decreased by 10% to 18 days. The bid-up percentage declined by 35% to 23.2%. MRI decreased by 44% to 2.6 months, and active listings declined by 35% to 15 homes.
Kaimuki Homes
Kaimuki home sales grew by 13% to 132 homes. The median price remained stable at $1,240,000. The median DOM rose by 31% to 17 days. The bid-up percentage dropped by 17% to 31.8%. MRI fell by 18% to 2.3 months, while active listings declined by 7% to 25 homes.
Waialae-Kahala Homes
Waialae-Kahala home sales increased by 48% to 93 homes. The median price declined slightly by 1% to $2,385,000. The median DOM decreased by 46% to 14 days. The bid-up percentage rose by 69% to 37.6%. MRI decreased by 37% to 3.1 months, while active listings declined by 8% to 24 homes.
East Oahu Homes
East Oahu home sales declined by 3% to 66 homes. The median price increased by 22% to $1,965,000. The median DOM increased by 15% to 19 days. The bid-up percentage declined by 37% to 28.8%. MRI increased by 55% to 3.8 months, while active listings rose by 50% to 21 homes.
Hawaii Kai Homes
Hawaii Kai home sales rose by 5% to 138 homes. The median price increased by 8% to $1,665,000. The median DOM decreased by 6% to 16 days. The bid-up percentage remained stable at 28.3%. MRI increased by 45% to 2.8 months, while active listings increased by 52% to 32 homes.
Kailua Homes
Kailua home sales declined by 10% to 223 homes. The median price decreased slightly by 1% to $1,660,000. The median DOM increased by 7% to 15 days. The bid-up percentage declined by 9% to 30.0%. MRI increased by 35% to 2.4 months, while active listings rose by 22% to 45 homes.
Kaneohe Homes
Kaneohe home sales rose by 12% to 210 homes. The median price increased by 4% to $1,250,000. The median DOM increased by 14% to 16 days. The bid-up percentage declined by 9% to 31.4%. MRI grew by 6% to 2.2 months, while active listings increased by 19% to 38 homes.
North Shore Homes
North Shore home sales increased by 14% to 66 homes. The median price declined by 6% to $1,590,500. The median DOM remained stable at 27 days. The bid-up percentage rose by 24% to 25.8%. MRI declined by 17% to 8.0 months, while active listings grew by 33% to 44 homes.
Leeward Homes
Leeward home sales declined by 7% to 225 homes. The median price fell by 1% to $674,978. The median DOM increased by 11% to 40 days. The bid-up percentage grew by 9% to 23.6%. MRI increased by 20% to 5.8 months, while active listings rose by 12% to 109 homes.
Ewa Homes
Ewa home sales declined by 1% to 473 homes. The median price increased by 2% to $900,000. The median DOM decreased by 27% to 22 days. The bid-up percentage remained nearly unchanged, falling slightly by 1% to 30.4%. MRI grew by 74% to 4.1 months, while active listings rose by 72% to 160 homes.
Makakilo Homes
Makakilo home sales increased by 10% to 96 homes. The median price rose by 2% to $1,050,000. The median DOM decreased by 20% to 23 days. The bid-up percentage increased by 8% to 26.0%. MRI grew by 25% to 3.6 months, while active listings increased by 38% to 29 homes.
Waipahu Homes
Waipahu home sales rose by 17% to 187 homes. The median price increased by 6% to $970,000. The median DOM decreased by 46% to 14 days. The bid-up percentage grew by 21% to 40.1%. MRI declined by 21% to 1.5 months, while active listings fell by 8% to 24 homes.
Mililani Homes
Mililani home sales rose by 9% to 150 homes. The median price remained stable at $1,075,000. The median DOM decreased by 15% to 14 days. The bid-up percentage increased by 2% to 34.0%. MRI surged by 57% to 2.3 months, while active listings grew by 71% to 29 homes.
Pearl City-Aiea Homes
Pearl City-Aiea home sales increased by 13% to 220 homes. The median price rose by 7% to $1,085,000. The median DOM decreased by 32% to 13 days. The bid-up percentage declined by 13% to 34.1%. MRI increased by 13% to 1.8 months, while active listings rose by 27% to 33 homes.
What Happened in Oahu Condo Markets in March 2025?
Here's a detailed breakdown of key Oahu condo market areas, looking at the past 12 months:
Salt Lake Condos
Salt Lake condo sales decreased by 15% to 141, while the median price fell by 5% to $415,000. The median Days on Market (DOM) rose by 76% to 30 days, and the bid-up percentage decreased by 20%. Months of Remaining Inventory (MRI) rose by 348% to 6.8 months, and active listings grew by 281% to 80 condos.
Downtown-Nuuanu Condos
Downtown-Nuuanu condo sales decreased by 2% to 246, while the median price fell by 3% to $396,750. The median DOM increased by 28% to 32 days, and the bid-up percentage fell by 28%. MRI rose by 64% to 6.1 months, with active listings up by 62% to 126 condos.
Ala Moana-Kakaako Condos
Ala Moana-Kakaako condo sales increased by 4% to 653, while the median price rose by 5% to $780,000. The median DOM increased by 66% to 53 days, and the bid-up percentage dropped by 47%. MRI rose by 27% to 8.8 months, with active listings up by 31% to 481 condos.
Makiki Condos
Makiki condo sales remained unchanged at 285, while the median price fell by 3% to $380,000. The median DOM rose by 86% to 41 days, and the bid-up percentage decreased by 35%. MRI rose by 23% to 5.2 months, with active listings increasing by 23% to 123 condos.
Waikiki Condos
Waikiki condo sales decreased by 9% to 973, while the median price increased by 5% to $450,000. The median DOM rose by 29% to 36 days, and the bid-up percentage fell by 32%. MRI increased by 41% to 7.5 months, with active listings up by 29% to 608 condos.
Kapiolani-University Condos
Kapiolani-University condo sales decreased by 10% to 214, while the median price remained unchanged at $413,167. The median DOM increased by 59% to 27 days, and the bid-up percentage dropped by 20%. MRI rose by 78% to 7.2 months, with active listings up by 59% to 129 condos.
Diamond Head-Kahala Condos
Diamond Head-Kahala condo sales increased by 22% to 113, while the median price decreased by 2% to $655,000. The median DOM increased by 67% to 25 days, and the bid-up percentage fell by 42%. MRI remained stable at 5.1 months, with active listings increasing by 17% to 48 condos.
Hawaii Kai Condos
Hawaii Kai condo sales increased by 9% to 141, while the median price rose by 7% to $865,000. The median DOM decreased by 29% to 17 days, and the bid-up percentage fell by 11%. MRI increased by 229% to 6.7 months, with active listings up by 259% to 79 condos.
Kailua Condos
Kailua condo sales decreased by 3% to 92, while the median price rose by 10% to $837,500. The median DOM increased by 27% to 19 days, and the bid-up percentage fell by 30%. MRI increased by 130% to 3.8 months, with active listings up by 123% to 29 condos.
Kaneohe Condos
Kaneohe condo sales increased by 28% to 169, while the median price fell by 2% to $675,000. The median DOM decreased by 19% to 15 days, and the bid-up percentage fell by 7%. MRI rose by 75% to 4.0 months, with active listings up by 124% to 56 condos.
Leeward Condos
Leeward condo sales increased by 3% to 149, while the median price fell by 8% to $238,000. The median DOM increased by 45% to 45 days, and the bid-up percentage dropped by 54%. MRI rose by 30% to 7.5 months, with active listings up by 35% to 93 condos.
Ewa Condos
Ewa condo sales decreased by 5% to 349, while the median price remained unchanged at $680,000. The median DOM increased by 75% to 28 days, and the bid-up percentage remained stable. MRI rose by 96% to 5.9 months, with active listings up by 85% to 172 condos.
Makakilo Condos
Makakilo condo sales declined by 10% to 91, while the median price remained unchanged at $552,000. The median DOM rose by 53% to 29 days, and the bid-up percentage decreased by 34%. MRI increased by 122% to 4.5 months, with active listings up by 100% to 34 condos.
Waipahu Condos
Waipahu condo sales decreased by 1% to 147, while the median price remained unchanged at $499,000. The median DOM decreased by 3% to 18 days, and the bid-up percentage fell by 23%. MRI rose by 158% to 3.3 months, with active listings up by 156% to 41 condos.
Mililani Condos
Mililani condo sales decreased by 4% to 282, while the median price fell by 1% to $510,000. The median DOM increased by 41% to 24 days, and the bid-up percentage fell by 21%. MRI increased by 118% to 4.4 months, with active listings up by 108% to 104 condos.
Pearl City-Aiea Condos
Pearl City-Aiea condo sales increased by 6% to 265, while the median price rose by 4% to $480,000. The median DOM increased by 65% to 28 days, and the bid-up percentage fell by 33%. MRI rose by 118% to 5.1 months, with active listings up by 131% to 113 condos.
Summary
Because real estate market conditions can vary greatly among Oahu market areas, it's important for buyers and sellers to partner with a Realtor who has access to detailed, neighborhood-level data.
Glossary
- Active Listings: Count of MLS listings with "Active" status on the last day of the period.
- Bid-Up %: The percent of sales that were bid-up over asking price in competitive offers.
- Days on Market (DOM): Median number of days between listing date and escrow date, for all properties sold in the period.
- Months of Remaining Inventory (MRI): The number of months it would take to sell out the current active inventory at the recent rate of sales. A balance point between supply and demand is considered to be around 6 months, so MRI below 6 months indicates more of a sellers market and MRI above 6 months indicates more of a buyers market.
