Annual Market Review

Oahu’s housing market concluded 2025 with steady momentum, characterized by moderate price shifts and a notable increase in available inventory. According to year-end resale figures released by the Honolulu Board of REALTORS®, single-family home sales rose 3.5% year-over-year, ending with a median sales price of $1,139,000—a 3.5% increase from 2024. Conversely, the condominium market saw a slight cooling in values, with sales volume dipping 1.1% and the annual median price decreasing 1.5% to $507,250.

Single-Family Home Resales (Full Year)

Condominium Resales (Full Year)

A defining characteristic of the 2025 market was the significant expansion of active inventory. New listings for single-family homes grew by 4.8%, while condominium new listings saw a more robust 8.8% increase. This surge contributed to active inventory levels that exceeded 2024 averages by 15.7% for single-family homes and 37.7% for condos. Consequently, properties spent longer on the market; the median days on market climbed to 23 days for single-family homes and extended to 44 days for condominiums.

“While 2025 presented its share of hurdles—from fluctuating interest rates to rising condo costs—the Oahu market demonstrated remarkable resilience,” said Moe Matsuda, Vice President and Broker-in-Charge at Sachi Hawaii. “We are seeing a shift toward a more balanced landscape where increased inventory provides buyers with crucial leverage, yet well-positioned properties continue to command strong interest.”

Broader economic factors played a pivotal role in shaping buyer behavior throughout the year. Mortgage rates stabilized in the latter half of 2025, ending at an average of 6.15%, which encouraged some market activity. However, challenges remained, particularly in the condo sector where rising insurance premiums placed financial strain on associations and buyers, contributing to higher monthly fees and the increase in condo inventory.

December 2025 Performance Snapshot

Despite mixed annual figures, the year ended on a particularly strong note. December 2025 saw double-digit growth in sales volume across the board. Single-family home transactions jumped 18.4% compared to the previous December, while condo sales rose 11.5%. This end-of-year rally highlights persistent demand, particularly in specific price sectors, even as the condo median price for the month dipped 5.2% to $512,000 compared to the previous year’s record high.

Single-Family Home Resales

Condominium Resales

Source: HiCentral

As the market adjusts to these conditions, sellers have had to recalibrate expectations. With buyer competition spread across a larger pool of available homes in December, the median price received relative to the original asking price slipped slightly in both categories. Ultimately, the data suggests a transition toward a more normalized market environment as Oahu moves into 2026, offering new opportunities for buyers who have previously been priced out of the market.