The Oʻahu real estate market experienced a slowdown in April as sales activity softened amidst an increase in available listings and active inventory. According to data released by the Honolulu Board of REALTORS®, both single-family home and condominium sales declined year-over-year.

Single-family home sales saw an 8.0% decrease, with 241 closed sales in April. Condo transactions also dropped by 8.4%, totaling 395 sales. Year-to-date figures show a continued decline from 2024 levels, with single-family home sales down 5.3% and condo sales down 2.3%.


Key Market Statistics (April 2025 vs. April 2024):

Single-Family Home Resales

	Number of Sales	Median Sales Price
April 2025	241   -8.0%	$1,170,000   +6.4%
April 2024	262	$1,100,000

Condominium Resales

	Number of Sales	Median Sales Price
April 2025	395   -8.4%	$505,000   -4.4%
April 2024	431	$528,000

Source: HiCentral

The median sales price for single-family homes rose 6.4% year-over-year to $1,170,000, also showing a 0.9% increase from March. Conversely, the median price for condos dipped 4.4% year-over-year to $505,000, though it saw a 1.0% month-over-month uptick. Properties are also spending more time on the market; the median days on market for single-family homes increased to 29 days (from 17 a year ago), and for condos, it rose to 43 days (from 29).

Sales declines were observed across most price points in the single-family market, with the $700,000 to $999,999 range experiencing the most significant drop (28.1%). For condos, the largest decrease was in the $400,000 to $499,999 range (33.3% down), while the $200,000 to $399,999 condo range saw an increase of 31.0%.

Affordability remains a key concern for many condo buyers, influenced by financing costs and rising monthly maintenance fees. The 30-year fixed-rate mortgage averaged 6.76% as of May 1, with the first-quarter average at 6.83%, according to Freddie Mac.

Buyers benefited from an expanding selection of listings in April. New single-family home listings increased by 4.9% year-over-year to 366. New condo listings rose significantly by 29.7% year-over-year to 851 units, with nearly 60% of these priced at $599,999 and below.

Active inventory also grew across both markets. The month ended with 805 single-family homes available for sale (up 30.3% from April 2024) and 2,512 condos (up 59.4%).

A notable shift in market dynamics is the decrease in properties closing above the original asking price. For single-family homes, 27% closed above asking, down from 33% in April 2024. In the condo market, only 9% of transactions sold above the original asking price, a decrease from 15% a year ago.

In today’s dynamic real estate market, prospective buyers seek increasingly immersive and convenient ways to view properties. As part of our commitment to providing cutting-edge service at Sachi Hawaii, we utilize Matterport 3D tour technology to offer an unparalleled virtual exploration experience.

How does it Work?

A Matterport 3D tour is a fully immersive, three-dimensional digital twin of a real-world space. Using specialized cameras and software, a property is scanned to create a detailed, interactive model that allows anyone, anywhere, to virtually walk through the home as if they were physically there.

Key Benefits for Buyers:

24/7 Access: Explore properties at your own pace, anytime, from any device.

Realistic Perspective: Gain a true sense of the layout, flow, and spatial relationships within the home.

Detailed Viewing: “Walk” through rooms, view dollhouse and floor plan perspectives, and examine details up close.

Reduced Need for Initial Visits: Narrow down potential properties effectively before scheduling an in-person showing, saving time and effort.

Key Benefits for Sellers:

Increased Exposure: Attract a wider pool of potential buyers, including those who are out-of-state or international.

Higher Engagement: Keep visitors on your property listing page longer with interactive content.

Qualified Leads: Interested parties who spend time on the 3D tour are often more serious buyers.

Showcase Property Highlights: Effectively present the unique features and selling points of your home.

At Sachi Hawaii, we believe that Matterport tours can be an essential tool in showcasing the luxury properties, when it makes sense for the property.

We invite you to experience the power of this technology firsthand with a virtual tour of our exquisite listing at 2443 Makiki Heights Drive. Explore the stunning architecture, elegant interiors, and breathtaking views at your leisure from the comfort of your own home.

You can navigate by pressing, swiping, clicking, and dragging your way through the tour below.

This Matterport tour of 2443 Makiki Heights Drive offers a comprehensive and engaging way to discover the property’s unique charm and features before scheduling your private showing.

Embracing innovative technology like Matterport tours is just one way Sachi Hawaii is dedicated to providing exceptional real estate services in Honolulu.

Sachi Hawaii is pleased to present an exceptional opportunity to experience refined island living at one of Kahala’s most distinguished addresses, 4743 Kolohala Street. This classical Kahala residence, now available for sale, offers a sanctuary of unparalleled privacy and luxury in one of Honolulu’s most sought-after neighborhoods.

Boasting a spacious 4,111 square-foot, two-story floor plan, this 5-bedroom, 4.5-bathroom home is a testament to sophisticated design and quality craftsmanship. Upon entering through the private, gated entry, residents and guests are greeted by meticulously manicured gardens that set a tone of tranquility and elegance.

The interior of the home reveals a symphony of high-end finishes, including exquisite travertine flooring and rich hardwoods that flow throughout the living spaces. Designed for both grand gatherings and intimate moments, the residence features a chef’s kitchen equipped for culinary artistry and a formal dining room perfect for entertaining.

A true retreat within the home, the expansive primary suite offers a private haven complete with a spa-inspired ensuite bath and a generously sized walk-in closet.

Outdoor living is equally impressive, with verdant, walled gardens and lush green spaces surrounding a resort-style pool and hot tub. This intimate oasis provides a perfect backdrop for relaxation and enjoying our beautiful island lifestyle.

Ideally situated in prestigious Kahala, the property is just two blocks away from Kahala Beach and minutes from the neighborhoods renowned dining, shopping, and entertainment options.

An exceptional fusion of island lifestyle and luxury living awaits at 4743 Kolohala Street. We invite you to step inside and discover the unparalleled beauty and sophistication of this remarkable Kahala residence.

About Sachi Hawaii:
Sachi Hawaii is a leading luxury real estate firm specializing in premier properties across Honolulu. Known for its expertise and discreet service, Sachi Hawaii provides unparalleled guidance in the high-end real estate market.

Interested in 4743 Kolohala Street? Contact Sachi Hawaii:
(808) 596-8801 | info@sachihawaii.com