The February resale figures released by the Honolulu Board of REALTORS® show a resilient Oahu real estate market with steady transaction counts and modest price growth. Single-family home sales rose 6% year-over-year to 177 transactions, carrying a median sales price of $1,205,000—a 1.7% increase from February 2025. Meanwhile, the condominium market remained stable with 291 sales and a median price of $500,000, representing a 1.2% uptick. While certain segments, such as single-family homes priced between $500,000 and $999,999, saw a significant 28.3% jump in activity, the broader market reflects a consistent balance between buyer demand and available inventory.

Single-Family Home Resales

Condominium Resales

Source: HiCentral

Inventory trends continue to diverge, creating different environments for buyers and sellers depending on the property type. Active listings for single-family homes fell 7.6% year-over-year to 673 units, with the sharpest decline occurring in the $500,000 to $999,999 range. In contrast, condo inventory grew by 5.4% to 2,276 listings, driven largely by a 27.6% surge in units priced at $399,999 and below. This increase in condo supply has led to a longer median of 56 days on the market, whereas single-family homes are moving faster than last year, with a median of just 17 days.

Sachi Braden, President and Principal Broker of Sachi Hawaii, noted that the data highlights the unique opportunities currently available in the islands. “The February statistics underscore a market that is finding its footing with steady growth in key price points,” Braden observed. “While the single-family home market remains competitive due to tighter inventory, the rise in condo listings provides a vital opening for buyers looking for more options. At Sachi Hawaii, we are seeing that well-positioned properties continue to attract serious interest, reflecting the enduring value of Hawaii real estate.”

The month ended with a rise in contract signings for single-family homes, which increased 4.7% to 244 pending sales, while condo signings dipped 7.1%. Despite these shifts in volume, pricing remains competitive, as 25% of single-family homes and 10% of condos closed above their original asking prices—figures that are unchanged from a year ago. As the market moves further into 2026, the stability of these median prices and the steady flow of new listings suggest a professional, balanced environment for those looking to navigate the Oahu property landscape.

Howard Hughes continues to rapidly transform Honolulu’s urban core, hitting major developmental milestones across its 60-acre Ward Village master-planned community in early 2026. The developer recently celebrated the completion of Ulana Ward Village, its eighth residential tower, while aggressively moving forward with its eleventh project, The Launiu Ward Village, which broke ground late last year. This expansion is backed by staggering financial momentum; recent corporate reports highlighted over $1.4 billion in pre-sales, driven heavily by forthcoming ultra-luxury projects ‘Ilima and Melia. As the Kaka‘ako neighborhood evolves with new pedestrian pathways, public parks, and retail spaces, Ward Village is solidifying its reputation as the premier live-work-play destination on Oahu’s southern shore.

Completed Projects

Under Development

Future Projects

Source: Ward Village

The luxury sector of Ward Village remains a dominant force in the Honolulu real estate market. The Launiu, slated for completion in 2028, will add 486 high-end residences featuring a mid-century coastal design oriented toward Diamond Head. Meanwhile, construction on Kalae is progressing alongside the recent completion phases of The Park Ward Village, catering to affluent buyers seeking front-row ocean views and resort-style amenities.

For the broader Hawaii real estate market, these Ward Village updates carry profound implications for buyers, sellers, and investors across Oahu. On one end of the spectrum, the delivery of Ulana’s 697 reserved housing units represents a critical lifeline for local buyers; as the largest single delivery of workforce housing under the Hawaii Community Development Authority (HCDA), it provides moderate-income kama‘aina families a rare pathway to homeownership in the notoriously expensive Honolulu market. Conversely, the billion-dollar success of Ward Village’s luxury pre-sales signals immense, unwavering investor confidence. For local sellers and real estate investors, this sustained high-end demand creates a robust “halo effect,” stabilizing property values in Kaka‘ako and driving up equity across Honolulu’s urban core.

As housing inventory remains tight island-wide, Ward Village’s dual-pronged approach of ultra-luxury towers and reserved workforce housing is effectively dictating the pace, pricing, and future of the modern Oahu market.

Interested in Ward Village?

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(808) 596-8801 | info@sachihawaii.com

For the first time since September 2022, the average 30-year fixed-rate mortgage in the United States has slipped beneath the 6% threshold. According to the latest data from Freddie Mac, the benchmark rate now sits at 5.98%, offering a much-needed glimmer of hope for prospective homebuyers. This milestone follows a turbulent period of surging borrowing costs, which saw average rates peak at roughly 7.8% in October 2023. The recent downward momentum has been driven by the Federal Reserve’s three interest rate cuts last year, coupled with a recent directives from the current administration that required Fannie Mae and Freddie Mac to purchase $200 billion in mortgage-backed securities. This influx of demand on the secondary market has allowed lenders to pass lower rates on to consumers.

Real estate experts believe that dropping below the 6% mark is a crucial catalyst that could unfreeze a gridlocked housing market in portions of the US. For years, the industry has been paralyzed by a “lock-in effect,” as homeowners clinging to ultra-low, pandemic-era rates of around 2.5% refused to sell and take on more expensive loans. While overall mortgage applications saw a recent 2.8% bump, that activity was largely driven by a surge in refinancing rather than new purchases, signaling that a full market thaw is still in its early stages.

Historical Residential Real Estate Loan Rates (Annual Averages)

Source: Freddie Mac

While a surge in buyer activity is a positive sign for the islands’ economic momentum, the real game-changer for Hawaii will be on the supply side. If sub-6% rates successfully convince current local homeowners that it is finally safe to trade up or downsize, the resulting bump in residential listings could help ease the chronic inventory shortages that plague Honolulu. However, Hawaii buyers should remain prepared for a highly competitive spring season; if the sudden rush of eager house-hunters outpaces the trickle of new inventory, the resulting bidding wars could swiftly drive home prices even higher across the Aloha State.