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.”
Takesue 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 the mortgage rate, while higher than a few years ago, remains around 6.7%—a little below 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 24% to 141 homes. The median price declined by 4% to $1,025,000. The median DOM increased by 21% to 17 days. The bid-up percentage increased by 6% to 35.5%. MRI decreased slightly by 1% to 3.2 months, while active listings grew by 23% to 38 homes.
Nuuanu-Makiki Homes
Nuuanu-Makiki home sales increased by 7% to 115 homes. The median price rose by 13% to $1,300,000. The median DOM fell by 26% to 17 days. The bid-up percentage increased by 6% to 27.8%. MRI grew by 5% to 5.3 months, and active listings rose by 13% to 51 homes.
Manoa Homes
Manoa home sales increased by 8% to 67 homes. The median price rose by 10% to $1,680,000. The median DOM rose by 18% to 20 days. The bid-up percentage dropped by 26% to 23.9%. MRI declined sharply by 46% to 2.5 months, while active listings fell by 42% to 14 homes.
Kaimuki Homes
Kaimuki home sales rose by 7% to 130 homes. The median price increased by 10% to $1,322,500. The median DOM increased by 31% to 17 days. The bid-up percentage dropped by 22% to 30.8%. MRI fell by 13% to 2.7 months, and active listings declined by 6% to 29 homes.
Waialae-Kahala Homes
Waialae-Kahala home sales rose by 39% to 97 homes. The median price held steady at $2,400,000. The median DOM decreased by 44% to 14 days. The bid-up percentage increased by 22% to 33.0%. MRI declined by 15% to 3.3 months, while active listings rose by 17% to 27 homes.
East Oahu Homes
East Oahu home sales increased by 8% to 70 homes. The median price rose by 18% to $1,965,000. The median DOM rose by 13% to 18 days. The bid-up percentage declined by 29% to 32.9%. MRI surged by 114% to 3.9 months, and active listings more than doubled, rising by 130% to 23 homes.
Hawaii Kai Homes
Hawaii Kai home sales rose by 5% to 139 homes. The median price increased by 7% to $1,650,000. The median DOM decreased by 11% to 16 days. The bid-up percentage increased by 13% to 28.8%. MRI grew by 29% to 3.0 months, while active listings increased by 35% to 35 homes.
Kailua Homes
Kailua home sales declined by 11% to 223 homes. The median price dropped slightly by 3% to $1,642,000. The median DOM rose by 11% to 15 days. The bid-up percentage declined by 20% to 27.8%. MRI increased by 51% to 2.9 months, and active listings rose by 35% to 54 homes.
Kaneohe Homes
Kaneohe home sales rose by 10% to 211 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 12% to 30.8%. MRI increased by 5% to 2.6 months, while active listings rose by 15% to 45 homes.
North Shore Homes
North Shore home sales rose by 26% to 72 homes. The median price declined by 9% to $1,553,000. The median DOM increased by 34% to 34 days. The bid-up percentage declined by 15% to 20.8%. MRI fell by 5% to 7.8 months, and active listings increased by 21% to 47 homes.
Leeward Homes
Leeward home sales declined by 8% to 224 homes. The median price decreased by 2% to $668,150. The median DOM increased by 24% to 42 days. The bid-up percentage increased by 8% to 23.7%. MRI increased by 24% to 5.8 months, and active listings rose by 15% to 109 homes.
Ewa Homes
Ewa home sales declined by 11% to 453 homes. The median price rose by 4% to $915,000. The median DOM dropped by 23% to 23 days. The bid-up percentage remained unchanged at 31.1%. MRI increased by 85% to 4.3 months, while active listings jumped by 66% to 164 homes.
Makakilo Homes
Makakilo home sales rose by 23% to 101 homes. The median price rose by 4% to $1,075,000. The median DOM decreased by 6% to 23 days. The bid-up percentage increased by 17% to 25.7%. MRI increased by 57% to 3.7 months, and active listings nearly doubled, rising by 94% to 31 homes.
Waipahu Homes
Waipahu home sales rose by 18% to 189 homes. The median price increased by 3% to $962,000. The median DOM dropped by 46% to 14 days. The bid-up percentage increased by 21% to 40.7%. MRI decreased by 12% to 1.9 months, while active listings grew slightly by 3% to 30 homes.
Mililani Homes
Mililani home sales increased by 14% to 151 homes. The median price edged down by 2% to $1,055,000. Median DOM was flat at 16 days. The bid-up percentage decreased by 16 percent to 31.1%. MRI rose by 76% percent to 2.7 months, while active listings increased by 100% to 34 homes.
Pearl City-Aiea Homes
Pearl City-Aiea home sales increased by 6% to 215 homes. The median price rose by 6% to $1,085,000. The median DOM decreased by 21% to 13 days. The bid-up percentage declined by 12% to 34.9%. MRI fell by 3% to 1.6 months, while active listings rose by 4% to 28 homes.
What Happened in Oahu Condo Markets in April 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 declined by 13% to 142, while the median price fell by 7% to $410,000. The median Days on Market (DOM) rose by 91% to 33 days, and the bid-up percentage decreased by 32%. Months of Remaining Inventory (MRI) increased by 206% to 8.1 months, and active listings grew by 167% to 96 condos.
Downtown-Nuuanu Condos
Downtown-Nuuanu condo sales declined by 4% to 243, while the median price fell by 5% to $390,000. The median DOM rose by 39% to 34 days, and the bid-up percentage declined by 16%. MRI increased by 106% to 6.8 months, with active listings up by 99% to 137 condos.
Ala Moana-Kakaako Condos
Ala Moana-Kakaako condo sales were unchanged at 645, while the median price rose by 3% to $767,000. The median DOM increased by 59% to 54 days, and the bid-up percentage decreased by 44%. MRI rose by 35% to 9.5 months, with active listings up by 35% to 513 condos.
Makiki Condos
Makiki condo sales declined by 4% to 276, while the median price fell by 3% to $378,500. The median DOM rose by 83% to 42 days, and the bid-up percentage declined by 38%. MRI rose by 32% to 5.9 months, with active listings up by 26% to 136 condos.
Waikiki Condos
Waikiki condo sales declined by 11% to 957, while the median price rose by 2% to $450,000. The median DOM increased by 29% to 36 days, and the bid-up percentage decreased by 27%. MRI increased by 58% to 8.3 months, with active listings up by 41% to 664 condos.
Kapiolani-University Condos
Kapiolani-University condo sales declined by 10% to 216, while the median price fell by 2% to $405,000. The median DOM rose by 59% to 27 days, and the bid-up percentage declined by 19%. MRI rose by 64% to 7.4 months, with active listings up by 47% to 134 condos.
Diamond Head-Kahala Condos
Diamond Head-Kahala condo sales rose by 28% to 120, while the median price rose by 1% to $670,000. The median DOM increased by 79% to 25 days, and the bid-up percentage fell by 61%. MRI declined by 10% to 6.0 months, with active listings up by 15% to 60 condos.
Hawaii Kai Condos
Hawaii Kai condo sales rose by 16% to 143, while the median price increased by 12% to $872,000. The median DOM decreased by 25% to 18 days, and the bid-up percentage fell by 19%. MRI increased by 261% to 7.0 months, with active listings up by 320% to 84 condos.
Kailua Condos
Kailua sales declined by 6% to 91, while the median price rose by 10% to $835,000. The median DOM increased by 27% to 19 days, and the bid-up percentage declined by 8%. MRI rose by 211% to 4.6 months, with active listings up by 192% to 35 condos.
Kaneohe Condos
Kaneohe condo sales rose by 27% to 171, while the median price decreased by 1% to $680,000. The median DOM declined by 30% to 14 days, and the bid-up percentage decreased by 10%. MRI rose by 63% to 4.6 months, with active listings up by 106% to 66 condos.
Leeward Condos
Leeward condo sales remained unchanged at 143, while the median price fell by 8% to $234,000. The median DOM rose by 16% to 37 days, and the bid-up percentage decreased by 41%. MRI increased by 31% to 8.9 months, with active listings up by 31% to 106 condos.
Ewa Condos
Ewa condo sales were unchanged at 358, while the median price fell by 1% to $675,000. The median DOM rose by 76% to 30 days, and the bid-up percentage remained relatively stable. MRI increased by 88% to 6.3 months, with active listings up by 87% to 189 condos.
Makakilo Condos
Makakilo condo sales declined by 5% to 95, while the median price was unchanged at $552,000. The median DOM rose by 27% to 26 days, and the bid-up percentage declined by 35%. MRI rose by 111% to 4.0 months, with active listings up by 100% to 32 condos.
Waipahu Condos
Waipahu condo sales declined by 1% to 150, while the median price fell by 1% to $495,000. The median DOM increased by 22% to 22 days, and the bid-up percentage declined by 16%. MRI rose by 164% to 4.8 months, with active listings up by 161% to 60 condos.
Mililani Condos
Mililani condo sales declined by 3% to 273, while the median price fell by 1% to $510,000. The median DOM increased by 86% to 26 days, and the bid-up percentage declined by 28%. MRI rose by 77% to 4.4 months, with active listings up by 72% to 100 condos.
Pearl City-Aiea Condos
Pearl City-Aiea condo sales rose by 10% to 274, while the median price increased by 3% to $475,000. The median DOM rose by 40% to 28 days, and the bid-up percentage declined by 27%. MRI rose by 78% to 5.1 months, with active listings up by 97% to 116 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.
