Hawaii Real Estate Market Update: March 2026
Honolulu’s real estate market experienced a notable divergence in March 2026, with single-family homes seeing a surge in activity while condominium sales slightly cooled. According to recent data from the Honolulu Board of REALTORS®, single-family home transactions jumped by 26.2% year-over-year to 260 closed sales, pushing the median sales price up 3.4% to $1,199,500. Conversely, condo sales experienced a modest decline of 4.9%, totaling 351 transactions, though the median price for condominiums still edged upward by 2.0% to reach $510,000. Despite a double-digit drop in new listings across both property types, buyer demand remained robust, particularly for single-family homes priced below $1 million and condos in the $700,000 to $799,999 bracket.
Single-Family Home Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| March 2026 | 260 +26.2% | $1,199,500 +3.4% |
| March 2025 | 206 | $1,160,000 |
Condominium Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| March 2026 | 351 -4.9% | $510,000 +2.0% |
| March 2025 | 369 | $500,000 |
Source: HiCentral
Market dynamics continue to shift as buyers and sellers navigate evolving economic and environmental conditions, including elevated mortgage rates and recent severe weather systems. “While external factors like the recent Kona lows have introduced temporary fluctuations in pending sales, the underlying demand for Oahu real estate remains remarkably resilient,” notes Moe Matsuda, Vice President and Broker-in-Charge at Sachi Hawaii. “We are seeing buyers remain highly engaged and decisive when properties are priced accurately, as evidenced by the strong percentage of sellers receiving at or very near their original asking price across both the single-family and condominium sectors.”
Despite properties spending slightly more time on the market compared to the previous year, the pace of sales remains efficient. Single-family homes were active for a median of just 21 days before entering escrow, while condominiums averaged 43 days. Inventory constraints continue to be a defining factor in the current landscape, with active single-family home listings dropping 10.6% year-over-year and condo inventory remaining relatively stagnant. As a result, competitive offers remain prevalent; over a quarter of single-family homes and 14% of condos closed above their initial asking price last month, underscoring the ongoing competitive nature of Honolulu’s housing market.
