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)

	Number of Sales	Median Sales Price
Full Year 2025	2,890   +3.5%	$1,139,000   +3.5%
Full Year 2024	2,793	$1,100,000

Condominium Resales (Full Year)

	Number of Sales	Median Sales Price
Full Year 2025	4,408   -1.1%	$507,250   -1.5%
Full Year 2024	4,459	$515,000

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

	Number of Sales	Median Sales Price
December 2025	270   +18.4%	$1,100,000   +4.3%
December 2024	228	$1,054,500

Condominium Resales

	Number of Sales	Median Sales Price
December 2025	360   +11.5%	$512,000   -5.2%
December 2024	323	$540,000

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.

Aloha, Happy Holidays, and Happy New Year!

The Oahu real estate market demonstrated continued resilience and strength in 2025, particularly in the single-family home sector. Following an increase in inventory early in the year, buyer activity gained considerable momentum by the close of the third quarter. September 2025 statistics from the Honolulu Board of REALTORS® reflect this environment: Single-family home closed sales jumped 27.2% year-over-year to 276 transactions, and the median sales price rose 3.8% to $1,155,000. Condo sales also increased by 11.5% with 408 closings, though the median price saw a slight dip of 1.7% to $508,750. Demand increased across most price points, including significant gains in the single-family $800K-$899K bracket (up 81.0%) and the premium $1.4M-$1.59M range (sales doubled). Despite properties spending a median of 26-40 days on the market, the sustained activity signals strong confidence in Oahu’s housing market.

This year also marked a significant shift in the luxury condominium segment. Sales of Howard Hughes’ new ultra-luxury Ward Village projects, ‘Ilima and Melia, kicked off with record-breaking results, redefining luxury condo living alongside Park Lane Ala Moana. ‘Ilima, offering the prestigious Mohala owners club with five-star concierge, reported one residence sale exceeding $40 million. Furthermore, Park Lane’s developer announced plans for a new, similar ultra-luxury condominium project and an exclusive high-rise hotel-condo development on the Waikiki-ocean side of Ala Moana Center. If you are interested in securing a piece of this elite real estate, please contact Sachi Hawaii for details.

As 2025 nears its close, Sachi Hawaii is noting a strong uptick in listings going under contract and active buyer movement. This year, we are on track to represent over 100 buyers and sellers, including landmark sales such as two single-family homes in Kahala ($4.6M and $3.4M), a newly-finished residence at Victoria Place ($3.56M), and multiple units at Diamond Head Apartments. We currently feature notable properties such as the newly-listed Park Lane #8604 ($11.5M), a palatial 6-bedroom home in Makiki Heights ($7.58M), and a Diamond Head oceanfront home designed by Frank Lloyd Wright’s apprentice ($6.25M). We are pleased to welcome new sales agents, Mona, Ikue and Keiko, as well as Mayuko to our Vacant Home Care division in December.

We are fortunate and thankful to work with so many wonderful buyers and sellers. We would be honored to receive your referral should you know a friend, family, or colleague looking to buy or sell.

Mahalo nui loa from all of us at Sachi Hawaii to our precious clients, friends, and family members for being a part of our successful 2025. As we look to the future in 2026, we wish for our extended ‘Ohana good health and fortune, as we continue to serve with enthusiasm, sincerity, privacy, discretion, and professionalism.

From Sachi Braden and the entire Sachi Hawaii Team,

Mahalo for your continued support, and Happy New Year!

The Hawaii property insurance market is showing signs of stabilization as local providers and state-level initiatives address the volatility seen over the past year. Following a period of significant premium increases—particularly for condominium associations—recent data indicates that the entry of more local capacity and the reactivation of state programs are beginning to moderate costs for homeowners.

Market Drivers and Stabilization

The primary driver of this shift is the increased participation of Hawaii-based insurance carriers and the strategic intervention of the Hawaii Hurricane Relief Fund (HHRF). Earlier in 2025, many condominium associations faced insurance premium spikes of 300% to 500% due to a restricted global reinsurance market and the lingering impacts of the 2023 Maui wildfires.

Long-Term Benefits for Homeowners

This stabilizing trend offers several practical advantages for property owners moving forward. Lower insurance premiums reduce the upward pressure on Monthly Association (HOA) fees, which had become a significant barrier for both current owners and prospective buyers. For single-family homeowners, the improved market health means more predictable renewal rates and a wider selection of local providers.

Furthermore, a stable insurance environment supports property values by ensuring that buildings remain eligible for conventional financing. As local providers continue to leverage their specific understanding of Hawaii’s risk landscape, homeowners can expect a more resilient and transparent insurance market that is less susceptible to global price shocks.