O‘ahu Real Estate Market Snapshot - August 2026

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Oʻahu Real Estate Market Update: Strong Prices, Shifting Demand

By Kalama Kim, President, Hawaiʻi Modern Realty

As Hawaiʻi responds to Hurricane Lowell, we are reminded how quickly conditions can change. August’s housing report tells a similar story: prices remain strong, but buyer demand is becoming more cautious. The hurricane did not affect August’s numbers, but it may temporarily slow September activity as families focus on recovery and reassess insurance, maintenance and property resilience.

Single-family home sales rose 1.9% from last August, while the median price jumped 12.2% to $1,240,000. That increase does not mean every home gained 12.2% in value. A surge in sales between $1.3 million and $1.5 million helped lift the median.

Closed sales reflect offers made roughly 45 to 90 days earlier. The more current indicators show pending sales falling 7.6% and inventory in escrow declining 11.7%. Yet with only 3.2 months of supply, limited choices continue to support prices.

Condos tell a different story. Sales declined 6.6%, the median price slipped 1% to $510,000, and inventory rose to a 6.9-month supply. Buyers have more choices and negotiating power as maintenance fees, insurance costs, and building concerns weigh on demand.

The two-year trend reinforces this divide. Single-family sales are up 3.5%, and prices are 8.2% higher, while condo sales are down 6.3% and prices have increased just 0.8%. Looking further back, sales remain well below the pandemic surge, but prices are still near historic highs.

For sellers, this is a market that rewards accuracy. Limited inventory alone will not overcome an unrealistic price or poor presentation, particularly when buyers are moving more cautiously. For buyers, softer demand may create opportunities to negotiate, especially with condos, but affordability, insurance exposure, monthly fees, and future assessments must be evaluated carefully.

The market is not collapsing. It is separating, rewarding realistic sellers and giving prepared buyers opportunities that did not exist a few years ago.

This report reflects information about re-sales of existing properties only and does not include new home sales. All the MLS information is com­piled from sales reported during the cited months; this data is Known only after closing of escrow. The time delay between the signing of a sales contract and the closing of escrow is usually between one and three months. This report is provided as a service to HBR members. Note: Percentage change compares data from August 2026 to August 2025.

How to Price Your O‘ahu Home Correctly in a Softening Market (Without Leaving Money on the Table)

In a changing market, the right asking price matters more than ever. Pricing too high can cause your home to sit on the market and lose momentum, but pricing too low could mean leaving money on the table.

Before setting a price, sellers should consider:

• What similar homes are actually selling for, not just their asking prices
• Current competition and inventory in your neighborhood
• How long comparable homes are taking to sell
• Your home’s condition, location, and features that may add value

The goal isn’t simply to choose the highest possible price, it’s to position your home strategically for today’s market and today’s buyers.

Read More.

Is 2026 a Buyer's Market or Seller's Market on O‘ahu? How to Read the Real Signals

The answer isn’t as simple as choosing one or the other. O‘ahu’s real estate market is sending different signals depending on the type of property you’re buying or selling.

• Single-family homes continue to favor sellers in many areas, particularly for well-priced homes.
• Condominium buyers have more choices and, in some cases, more room to negotiate.
• Market conditions can vary significantly by neighborhood and price point.
• Looking beyond one headline or statistic is essential to making a smart real estate decision.

Read More.

Buying a Second Home or Vacation Property in Hawai‘i

Owning a second home in Hawai‘i can offer an incredible lifestyle, and potentially a valuable long-term investment, but the realities of ownership go well beyond finding the perfect ocean view.

Before making a move, buyers should consider:

• Property taxes and how the home will be classified
• The costs and responsibilities of managing a property from afar
• Whether the home will be used personally, rented, or both
• Ongoing expenses like insurance, maintenance, association fees, and utilities
• How often you realistically plan to enjoy the property

A successful second-home purchase starts with understanding both the lifestyle benefits and the financial responsibilities that come with owning property in Hawai‘i.

Read More.

Should You List Your Oʻahu Home Before the Fall Slowdown?

Timing can play an important role when selling your home, but waiting for the “perfect” moment can also mean missing an opportunity. As market activity shifts heading into fall, sellers should take a close look at current conditions rather than relying on the calendar alone.

Before deciding when to list, consider:

• Current inventory and how much competition is on the market
• Buyer demand in your neighborhood and price range
• How quickly comparable homes are selling
• Your home’s condition and readiness for the market
• Whether waiting could bring more competition from other sellers
• The best time to sell depends on more than the season.

Understanding what’s happening in your specific market can help you make a smarter decision about when to list.

Read More.

Should You Buy First or Sell First on O‘ahu? A Clear Decision Framework

For homeowners planning their next move, one of the biggest questions is whether to buy your next home first or sell your current one first. The right answer depends on your finances, timeline, and comfort with risk.

Before deciding, consider:

• How much equity you have available in your current home
• Whether you need the proceeds from your sale to purchase your next property
• How competitive the market is for the type of home you want to buy
• Your ability to manage two mortgages if your current home doesn’t sell right away
  Whether you have a backup plan for temporary housing

There’s no one-size-fits-all answer. Understanding the advantages and risks of each approach can help you move forward with greater confidence, and fewer surprises.

Read More.

Message from Lila  

We are about to close on a property that almost didn’t happen.

I am representing a military family who recently relocated to Hawai‘i. Within days of their arrival, we began looking at homes and found one that was a perfect fit—beautiful, move-in ready, in their preferred location, and within their price range.

Everything was progressing smoothly until we learned that the property was registered in Land Court and that documentation involving the seller’s trust needed to be corrected. This required a petition and an extended review period, turning what once might have taken a few weeks into an estimated six to eight weeks or longer. It took a solid eight weeks, and could have gone several more if it weren't for my steadfast attitude and help from my colleagues.

The delay created tremendous challenges for my buyers. They were living in temporary accommodations with two young children while facing an expiring loan lock and complications with their stored belongings. It became an incredibly emotional journey for them.

In situations like this, experience and strong professional relationships truly matter. I reached out to everyone involved, the lender, escrow team and management, my broker, and the seller’s agent. Through constant communication, persistence, creative problem-solving, and the combined efforts of everyone involved, we accomplished what at times seemed impossible.

My message is simple: If there is a will, there is a way, and to never give up.

This is why having a seasoned agent with trusted industry relationships on your side can make such a meaningful difference. Every ounce of effort mattered. There were extensive negotiations, countless conversations, plenty of stress, and even some very real tears along the way—but we kept moving forward together.

My buyers signed last night, the loan funded today, and we are scheduled to close on Monday. I could not be happier for this deserving family as they prepare to receive the keys to their new home in Hawai‘i.

I am happy assist you, your friends and family! Let's strategize your real estate goals whenever you are ready. Mahalo for your trust in my abilities! Lila

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