Oahu Real Estate Market Update – September 2026
The Oahu residential real estate market was steady in September, with continued strong demand for single-family homes and softer demand for resale condos.
The Oahu real estate market remained stable in September 2026, although conditions continued to vary between single-family homes and condos. The median single-family home price decreased 5% from a year ago to $1,115,000, while the median condo price increased 3% to $525,000.
Sales were stronger for single-family homes in September, increasing 4% compared with the same month last year, while condo sales declined 10%. Homes also continued to move faster than condos, with single-family properties spending a median of just 16 days on the market compared with 37 days for condos.
Inventory remained tight for single-family homes, while condo buyers continued to have more options. There were 850 homes and 2,650 resale condos available for sale at the end of September. Home inventory was even with last year, while condo inventory increased 10%.
Looking ahead to the end of 2026 and into 2027, mortgage rates and broader economic uncertainty could create some volatility. While rates are still expected to fall below 7% in 2027, the outlook has softened as mortgage rates surpassed 7% in September and global and economic uncertainty continues.
Key Takeaways
- Median single-family home price decreased 5% year over year to $1,115,000.
- Median condo price increased 3% to $525,000.
- Year-to-date, median home prices are up 3%, while condo prices are up 2%.
- September home sales increased 4% compared with September 2025, while condo sales declined 10%.
- Year-to-date, home sales are up 5%, while condo sales are down 3%.
- There were 850 homes and 2,650 resale condos available for sale at the end of September.
- Home inventory was even with last year, while condo inventory increased 10%.
- Months of remaining inventory remained low and steady at 3.4 months for homes and 7.3 months for condos.
- Single-family homes sold in a median of 16 days, while condos sold in a median of 37 days.
- 36.7% of homes and 13.7% of condos sold above asking price in September.
- Demand for homes was 12% higher than last year, while condo demand was 3% higher.
Single-Family Home Demand Remains Strong
Single-family homes continued to show stronger demand than condos in September. Although the median home price was lower than a year ago, sales increased 4% and homes continued to sell quickly, spending a median of just 16 days on the market.
More than one in three single-family homes—36.7%—sold above asking price in September, another indication of continued competition for desirable properties. Demand for homes was 12% higher than last year.
Inventory also remains limited, with just 3.4 months of remaining inventory. Conditions vary by location, however, with some West Oahu markets seeing particularly strong demand.
“Stable, steady market conditions continued in September 2026, with modest price increases for Oahu single-family homes and condos.”
— Chad Takesue, Interim CEO, Locations
Where Single-Family Home Demand Is Strongest
West Oahu continues to show increasing demand for single-family homes. The Mililani and Pearl City-Aiea markets have the tightest inventory, with just 1.7 months of remaining inventory, indicating very strong demand.
The Waipahu market, which includes Waipio and Waikele, has 2 months of remaining inventory, as does West Honolulu. These lower inventory levels indicate a more competitive environment for buyers.
The softest local markets for single-family homes are Leeward and the North Shore, with 6.8 and 5.8 months of inventory, respectively. Higher inventory levels indicate weaker demand compared with other areas of Oahu.
Resale Condo Market Remains Softer
The Oahu resale condo market continued to trail the single-family market in September. While the median condo price increased 3% year over year to $525,000, condo sales declined 10% compared with September 2025.
Condos also spent more time on the market, with a median of 37 days compared with 16 days for single-family homes. At 7.3 months of remaining inventory, buyers continue to have more choices and potentially more negotiating power.
Demand for condos is strongest in parts of West Oahu. Waipahu has just 2.7 months of remaining inventory, while Makakilo has 3.5 months. Mililani and Pearl City-Aiea remain relatively competitive at 4 months of supply.
In town, the condo market remains softer, particularly as aging housing stock has been affected by higher insurance and maintenance costs. Inventory is highest in Waikiki, at 11.5 months, followed by Ala Moana-Kakaako, at 9.8 months.
Looking Ahead to 2027
Looking ahead to 2027, Takesue said the residential real estate market will continue to be influenced by the interest rate environment. Mortgage rates started the year below 6% but climbed above 7% in September, creating additional uncertainty for buyers and sellers. While rates are expected to fall below 7% in 2027, ongoing global conflicts and uncertainty surrounding the U.S. economy could contribute to continued market volatility.
In this environment, Takesue emphasized the importance of sellers understanding the competitive landscape for their specific property and pricing appropriately based on current market conditions. “Opportunities remain for both buyers and sellers,” Takesue said. “However, successful outcomes will increasingly depend on understanding the dynamics of each neighborhood, property type and price point.”
Neighborhood-Level Trends Across Oahu in September 2026
Market statistics can vary greatly by neighborhood, so it's important to consult a knowledgeable Realtor who has access to market-level data.
Oahu Single-Family Home Market Update
Here's a detailed breakdown of key Oahu single-family home market areas, looking at the past 12 months.
Key single-family home market trends across Oahu regions:
West Honolulu Homes
West Honolulu home sales declined 8% to 147 homes. The median price increased 11% to $1,150,000. The median DOM declined 6% to 17 days. The bid-up percentage increased 4% to 40.1%. MRI declined 26% to 2.0 months, while active listings fell 32% to 25 homes.
Nuuanu-Makiki Homes
Nuuanu-Makiki home sales increased 30% to 148 homes. The median price increased 2% to $1,362,500. The median DOM increased 3% to 31 days. The bid-up percentage declined 12% to 22.3%. MRI declined 58% to 2.8 months, while active listings fell 45% to 35 homes.
Manoa Homes
Manoa home sales increased 32% to 82 homes. The median price increased 5% to $1,690,000. The median DOM increased 7% to 15 days. The bid-up percentage declined 8% to 28.0%. MRI increased 5% to 2.6 months, while active listings increased 38% to 18 homes.
Kaimuki Homes
Kaimuki home sales declined 1% to 147 homes. The median price increased 5% to $1,300,000. The median DOM was unchanged at 14 days. The bid-up percentage increased 13% to 36.7%. MRI declined 8% to 2.6 months, while active listings fell 9% to 32 homes.
Waialae-Kahala Homes
Waialae-Kahala home sales declined 18% to 77 homes. The median price increased 9% to $2,700,000. The median DOM declined 5% to 20 days. The bid-up percentage increased 5% to 31.2%. MRI increased 27% to 3.7 months, while active listings increased 4% to 24 homes.
East Oahu Homes
East Oahu home sales declined 11% to 67 homes. The median price increased 7% to $1,880,000. The median DOM increased 11% to 21 days. The bid-up percentage declined 40% to 23.9%. MRI increased 78% to 6.3 months, while active listings increased 59% to 35 homes.
Hawaii Kai Homes
Hawaii Kai home sales increased 4% to 145 homes. The median price was unchanged at $1,650,000. The median DOM declined 18% to 14 days. The bid-up percentage increased 12% to 28.3%. MRI increased 22% to 4.3 months, while active listings increased 27% to 52 homes.
Kailua Homes
Kailua home sales increased 11% to 269 homes. The median price increased 3% to $1,735,000. The median DOM declined 3% to 16 days. The bid-up percentage increased 3% to 29.4%. MRI declined 2% to 3.4 months, while active listings increased 8% to 77 homes.
Kaneohe Homes
Kaneohe home sales increased 2% to 208 homes. The median price was essentially unchanged at $1,300,000. The median DOM declined 21% to 13 days. The bid-up percentage increased 6% to 38.5%. MRI increased 39% to 3.8 months, while active listings increased 41% to 65 homes.
North Shore Homes
North Shore home sales were unchanged at 76 homes. The median price increased 21% to $1,762,500. The median DOM declined 38% to 24 days. The bid-up percentage declined 38% to 10.5%. MRI declined 18% to 5.8 months, while active listings fell 18% to 37 homes.
Leeward Homes
Leeward home sales declined 6% to 206 homes. The median price declined 4% to $648,500. The median DOM declined 16% to 38 days. The bid-up percentage increased 10% to 28.6%. MRI increased 14% to 6.8 months, while active listings increased 7% to 116 homes.
Ewa Homes
Ewa home sales increased 21% to 565 homes. The median price increased 3% to $950,000. The median DOM declined 26% to 23 days. The bid-up percentage increased 2% to 30.6%. MRI declined 17% to 2.9 months, while active listings increased 1% to 136 homes.
Makakilo Homes
Makakilo home sales increased 17% to 120 homes. The median price declined 6% to $1,030,000. The median DOM was unchanged at 29 days. The bid-up percentage increased 4% to 29.2%. MRI declined 46% to 2.6 months, while active listings fell 37% to 26 homes.
Waipahu Homes
Waipahu home sales declined 8% to 171 homes. The median price increased 1% to $960,000. The median DOM declined 26% to 14 days. The bid-up percentage increased 7% to 37.4%. MRI declined 8% to 2.0 months, while active listings fell 15% to 28 homes.
Mililani Homes
Mililani home sales increased 11% to 166 homes. The median price increased 2% to $1,102,500. The median DOM declined 35% to 13 days. The bid-up percentage increased 39% to 44.0%. MRI increased 47% to 1.7 months, while active listings increased 64% to 23 homes.
Pearl City-Aiea Homes
Pearl City-Aiea home sales increased 8% to 228 homes. The median price increased 10% to $1,150,000. The median DOM declined 7% to 13 days. The bid-up percentage increased 26% to 40.4%. MRI declined 17% to 1.7 months, while active listings fell 11% to 32 homes.
Oahu Condo Market Update
Here's a detailed breakdown of key Oahu condo market areas, looking at the past 12 months.
Key condo market trends across Oahu regions:
Salt Lake Condos
Salt Lake condo sales declined 7% to 138 units. The median price increased 5% to $418,500. The median DOM increased 7% to 53 days. The bid-up percentage declined 5% to 11.6%. MRI declined 17% to 5.9 months, while active listings fell 23% to 68 condos.
Downtown-Nuuanu Condos
Downtown-Nuuanu condo sales declined 5% to 222 units. The median price declined 6% to $360,000. The median DOM increased 15% to 53 days. The bid-up percentage increased 15% to 10.4%. MRI declined 9% to 6.0 months, while active listings declined 14% to 111 condos.
Ala Moana-Kakaako Condos
Ala Moana-Kakaako condo sales increased 10% to 749 units. The median price increased 6% to $795,000. The median DOM declined 13% to 49 days. The bid-up percentage increased 6% to 6.4%. MRI increased 10% to 9.8 months, while active listings increased 21% to 611 condos.
Makiki Condos
Makiki condo sales increased 4% to 271 units. The median price increased 2% to $365,000. The median DOM declined 3% to 43 days. The bid-up percentage increased 13% to 9.6%. MRI increased 6% to 6.2 months, while active listings increased 10% to 141 condos.
Waikiki Condos
Waikiki condo sales declined 15% to 777 units. The median price increased 4% to $470,000. The median DOM increased 31% to 55 days. The bid-up percentage declined 15% to 7.5%. MRI increased 50% to 11.5 months, while active listings increased 27% to 747 condos.
Kapiolani-University Condos
Kapiolani-University condo sales increased 1% to 226 units. The median price declined 3% to $388,500. The median DOM was unchanged at 40 days. The bid-up percentage declined 25% to 8.4%. MRI declined 1% to 6.9 months, while active listings were essentially unchanged at 130 condos.
Diamond Head-Kahala Condos
Diamond Head-Kahala condo sales increased 4% to 122 units. The median price declined 2% to $642,500. The median DOM increased 18% to 40 days. The bid-up percentage declined 15% to 6.6%. MRI declined 27% to 4.3 months, while active listings fell 24% to 44 condos.
Hawaii Kai Condos
Hawaii Kai condo sales declined 5% to 139 units. The median price declined 3% to $803,000. The median DOM increased 24% to 42 days. The bid-up percentage declined 47% to 7.9%. MRI increased 19% to 6.7 months, while active listings increased 13% to 78 condos.
Kailua Condos
Kailua condo sales declined 4% to 97 units. The median price declined 6% to $770,000. The median DOM increased 67% to 35 days. The bid-up percentage declined 36% to 11.3%. MRI increased 33% to 4.0 months, while active listings increased 28% to 32 condos.
Kaneohe Condos
Kaneohe condo sales declined 3% to 156 units. The median price increased 2% to $670,000. The median DOM increased 24% to 26 days. The bid-up percentage declined 3% to 19.9%. MRI increased 20% to 4.8 months, while active listings increased 17% to 63 condos.
Leeward Condos
Leeward condo sales declined 6% to 124 units. The median price increased 5% to $240,000. The median DOM increased 4% to 42 days. The bid-up percentage declined 12% to 15.3%. MRI declined 14% to 8.1 months, while active listings fell 19% to 84 condos.
Ewa Condos
Ewa condo sales declined 1% to 364 units. The median price declined 6% to $605,000. The median DOM declined 5% to 37 days. The bid-up percentage declined 18% to 24.7%. MRI increased 20% to 7.1 months, while active listings increased 19% to 215 condos.
Makakilo Condos
Makakilo condo sales declined 4% to 92 units. The median price declined 4% to $524,500. The median DOM was unchanged at 31 days. The bid-up percentage increased 25% to 40.2%. MRI declined 15% to 3.5 months, while active listings fell 18% to 27 condos.
Waipahu Condos
Waipahu condo sales increased 10% to 174 units. The median price declined 3% to $479,500. The median DOM increased 25% to 33 days. The bid-up percentage increased 18% to 27.6%. MRI declined 42% to 2.8 months, while active listings fell 37% to 40 condos.
Mililani Condos
Mililani condo sales increased 6% to 273 units. The median price increased 1% to $520,000. The median DOM declined 6% to 31 days. The bid-up percentage declined 8% to 28.9%. MRI increased 3% to 4.1 months, while active listings increased 9% to 94 condos.
Pearl City-Aiea Condos
Pearl City-Aiea condo sales increased 9% to 272 units. The median price declined 9% to $420,000. The median DOM increased 12% to 43 days. The bid-up percentage declined 12% to 18.4%. MRI declined 24% to 4.3 months, while active listings fell 17% to 97 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 seller's market and MRI above 6 months indicates more of a buyer's market.
