O‘ahu Real Estate Market Snapshot - September 2026

Oʻahu Real Estate Market Update: One Market, Two Speeds

By Kalama Kim, President, Hawaiʻi Modern Realty

Think of today’s market as if you are driving your car through it. If you are a buyer searching for a condo, imagine pulling into a large parking lot and seeing plenty of open spaces. You can slow down, drive around, compare your options and decide where you want to park.

Single-family home sellers are having a very different experience. Their market is traveling in the fast lane, with well-priced homes moving quickly and sellers receiving a median 99.4% of their original asking price. It is one Oʻahu housing market, but its two major segments are moving at very different speeds.

For single-family homes, the fast lane continues. September closed sales increased 6.2% from a year ago to 293, while the median sales price declined 3.9% to $1.11 million. That one-month price change shouldn't distract us from the longer road we have been traveling. Year-to-date, the median price is $1.18 million, up 3.1% from last year and 7.3% from two years ago. With only 3.2 months of inventory and a median of just 16 days on market, sellers of desirable, well-priced homes continue to have the advantage.

The condo side looks more like that open parking lot. Active inventory reached 2,509 units in September, up 7.8% from last year, while closed sales declined 8.1%. There is now a 7.0-month supply of condos compared with just 3.2 months for single-family homes. Pull the camera back even further and the contrast becomes clearer. Condo inventory has grown from 1,194 units in September 2023 to 2,509 today. Single-family inventory increased from 592 to 798 over the same period. Condo buyers simply have far more spaces to choose from than they did three years ago.

We also need to know where the road may be heading, and that means looking through the windshield rather than only in the rearview mirror. Closed sales represent demand from earlier contracts. Pending sales give us a more current view. In September, single-family pending sales declined just 1.3% year over year, but condo pending sales dropped 28.6%. Inventory already in escrow declined 14.3% for single-family homes and 20.0% for condos. Those numbers suggest traffic ahead may be slowing, particularly in the condo market.

For buyers and sellers, knowing which lane you are in matters. Single-family home buyers still face relatively limited choices and competition for desirable properties. Condo buyers can take more time, compare more properties and often negotiate from a stronger position. Condo sellers need to recognize that buyers can simply drive past their property and choose another if the price, condition or value isn't competitive.

The Oʻahu market is not simply going up or down. We are all traveling the same road, but right now we are moving at two very different speeds.

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 September 2026 to September 2025.

The Complete Timeline of Buying a Home on O‘ahu: From Offer to Keys

Buying a home on O‘ahu involves more than finding the right property. From submitting an offer to receiving the keys, each step comes with important deadlines, paperwork, and decisions.

Here’s what to expect along the way:

• Making an offer: Understand the terms, contingencies, and negotiations.
• Opening escrow: Learn about deposits, timelines, and important contract deadlines.
• Inspections and financing: Navigate due diligence, appraisals, and loan approval.
• Closing and getting the keys: Complete the final paperwork and prepare for homeownership.

Explore the complete timeline and learn what to expect at every stage of buying a home on O‘ahu.

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Multi-Generational Living on O‘ahu ADUs, Ohana Units, and Honolulu Zoning Regulations

With housing costs and limited space shaping life on O‘ahu, multi-generational living offers families a way to stay close while maintaining a degree of independence.

Here’s what to know:

• ADUs vs. ʻohana units: Understand the differences and how each can accommodate extended family.
• Zoning and permits: Learn how lot size, infrastructure, and local regulations affect eligibility.
• Family living options: Explore ways to create more flexible living arrangements while keeping loved ones close.

Discover what to consider when planning a multi-generational home on O‘ahu.

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Living in Hawaii Loa Ridge and Diamond Head O‘ahu’s Premier Luxury Enclaves

From the hillside estates of Hawaii Loa Ridge to the oceanfront appeal of Diamond Head, O‘ahu’s luxury neighborhoods offer distinct lifestyles, stunning scenery, and sought-after locations.

Here’s what to consider:

• Hawaii Loa Ridge: Discover the appeal of gated living, custom estates, and sweeping ocean views.
• Diamond Head: Explore a coastal neighborhood known for its iconic scenery, distinctive homes, and proximity to beaches and Honolulu.
• Lifestyle and location: Compare privacy, amenities, and access to the everyday conveniences that shape life in each community.

Explore what makes these two luxury enclaves unique and find out which lifestyle may align with your real estate goals.

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Respecting Local Culture When Buying or Living in Hawai‘i What Newcomers Often Miss

Living in Hawai‘i is about more than enjoying the beaches and island lifestyle. Understanding local culture, respecting the land, and building meaningful relationships within the community are essential parts of becoming a thoughtful neighbor.

Here are a few important considerations:

• Respect for the land: Understand the importance of caring for the ʻaina and preserving Hawai‘i’s natural environment.
• Cultural awareness: Learn about local customs, traditions, and the values that shape everyday life.
• Community connection: Discover how respect, relationships, and a sense of belonging contribute to life in Hawai‘i.

Explore how cultural awareness can help you build a more meaningful connection to Hawai‘i.

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How O‘ahu HOA and Maintenance Fees Affect Purchasing Power (And How Sellers Can Prepare)

When buying a home on O‘ahu, the monthly mortgage payment is only part of the picture. Homeowners association (HOA) dues and maintenance fees can significantly affect purchasing power, influencing how much buyers can comfortably afford and how sellers position their properties in the market.

Here’s what buyers and sellers should consider:

• Monthly ownership costs: Understand how HOA and maintenance fees factor into a buyer’s overall budget.
• Condo vs. single-family homes: Explore how ongoing expenses can vary by property type and community.
• Preparing to sell: Learn how sellers can communicate fees, amenities, and property value to prospective buyers.

Discover how HOA and maintenance fees can shape real estate decisions and what buyers and sellers can do to prepare.

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MESSAGE FROM LILA

Well it's just about nine months without our beloved Pepper. We miss her dearly. I promised when the time was right, we would look for a puppy. I started my search quietly, and found Luna. She is such a sweet pup, and well behaved for a seven week old puppy.

As for business, it's been a busy fall season searching for a home with a couple who is relocating back to Hawaii. We found a home that they are now in escrow with. I also have several listings in the pipeline. I'm excited to share that with you very soon :)

I love when I get that phone call from my clients. It's such a privilege to assist you, your family and friends when in need of my advice, my expertise and assistance! Please don't hesitate to reach out even to just say Hi!

Mahalo Lila