Oahu Real Estate Market Report – August 2025

August sales activity reflected moderate shifts in sales volume and median prices compared to a year ago. Single-family home sales rose modestly by 2.4%, from 253 to 259 transactions, while condo sales dipped 2.5%, from 401 to 391 closed sales. Year-to-date, overall sales volume remains below 2024 levels, down 2.2% for single-family homes and 4.7% for condos.

The August median sales price for a single-family home declined slightly, dipping 1.5% year-over-year to $1,105,500. Condos posted a modest 3.0% increase to $515,000. Year-to-date, the single-family home median remains up 3.6% at $1,140,000, while the condo median is relatively flat, down 0.6% at $505,000.

Buyers in the single-family home market were particularly active in August, with pending sales jumping 28.5% year-over-year to 302—the highest monthly total so far this year. Pending condo sales were steady, slipping just 1.0% with 406 contract signings.

New listing activity varied by market segment. Single-family home listings declined 8.1% year-over-year to 318, with most of the slowdown seen under the $2 million price point. In contrast, new listings priced at $2 million and above surged 40.8% with 69 additions, led by the East Honolulu and Windward regions. Condo listings rose 2.2% year-over-year with 643 new units, nearly half of which were priced between $300,000 and $599,999.

Inventory trends remained mixed. At the end of August, single-family home active inventory totaled 790, slightly more than last year but dropping 7.3% month-over-month. Condo active inventory stood at 2,412 units, elevated 28.4% from last year but easing 1.9% from July.

Island-wide, single-family homes spent longer on the market, with the median days on market increasing to 22 days compared to 14 a year ago. For condos, median days on market lengthened to 48 days, compared to 28 in August 2024.

In the single-family home market, sales activity was relatively stable across price ranges, with the $900,000 to $1,199,999 range experiencing the most movement, rising 19.4% year-over-year. ʻEwa Plain led regional growth with a 30.0% jump in sales, while pending sales surged in multiple regions—up 64.7% in ʻEwa Plain and 48.0% in the Diamond Head region. Condo sales showed mixed results by region and price point. The $1 million and above segment grew 32.5% to 53 sales, while Pearl City saw the sharpest regional decline, falling 68.8% to 10 sales. Pending sales in the Metro region rose 13.4% year-over-year to 245, though activity declined in Central O‘ahu and ʻEwa Plain.

Courtesy of the Honolulu Board of Realtors

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