January Oahu Market Update

Overall, the Oʻahu housing market entered 2026 steady and balanced: single-family homes stayed competitive with tight supply, while condos gave buyers more room to negotiate.

• Single-family: median sales price rose 0.2% to $1,122,500, with inventory down 8.2% and supply at 2.8 months.
• Competition: nearly 31% of single-family homes sold above asking price, with a median of 27 days on market.
• Condos: median price softened 1.9% to $529,000, with inventory up 5.8% and supply at 6.0 months.
• Demand signal: pending sales rose 14.4% for single-family homes and 5.0% for condos.

The result is a market that’s moving forward without drama—pricing remains supported, but the experience differs sharply depending on the property type.

Big Picture Overview

Oʻahu continues to behave like a market built on real fundamentals: limited land, consistent long-term demand, and buyers who tend to move carefully rather than impulsively. That creates a “steady current” effect—when inventory is tight, pricing holds up even if sales activity doesn’t surge.

This month’s story is a split market. Single-family homes are still supply-constrained, which keeps competition elevated and pushes well-positioned homes to move quickly. Condos and townhomes, on the other hand, are offering a more navigable path for buyers—more options, more time, and more negotiating leverage.

In plain English: the island isn’t moving in one direction. It’s moving in two—depending on whether you’re shopping for a home with a yard or a home with an elevator.

Single-Family Homes: Key Trends

Single-family home sales were essentially flat, down just 1.0% year-over-year, but pricing stayed firm. The median sales price rose 0.2% to $1,122,500, which is exactly what we typically see when supply stays tight and buyers remain motivated.

Inventory tightened further, with active listings down 8.2% and supply lean at 2.8 months. That limited selection continues to drive competitive outcomes, especially for homes that are well-prepared, well-priced, and positioned in high-demand neighborhoods.

Competition is showing up clearly in the numbers: nearly 31% of homes sold above asking price, and homes moved efficiently with a median of 27 days on market. Add in a 14.4% jump in pending sales, and it’s clear buyer demand is still active heading into spring.

Condos & Townhomes: Key Trends

The condo market offered buyers more flexibility, and the data supports that. Sales dipped 4.8% year-over-year, and the median price softened 1.9% to $529,000. This is the kind of environment where buyers tend to be more selective—and where sellers need to be more strategic.

Inventory expanded 5.8%, pushing supply to 6.0 months. That additional breathing room changes the tone of negotiations. Condos also took longer to sell, with a 47-day median, and only 7% closed above asking price. Most sales occurred below list price, especially in the $700,000–$899,999 range.

Even so, demand hasn’t disappeared—it’s simply more measured. Pending condo sales rose 5.0%, signaling that buyers are still moving forward, just with more caution and more focus on value.

What This Means for Buyers

For buyers, 2026 is starting with a clear message: your experience will depend heavily on what you’re shopping for. Single-family homes remain a competitive lane, especially for move-in-ready properties in popular price ranges. Condos and townhomes, however, are offering a more buyer-friendly environment with more choices and less pressure to overreach.

If you’re trying to win in this market, the advantage goes to buyers who are prepared and realistic—meaning you understand what’s competitive, what’s negotiable, and what matters most to you before you start writing offers.

• If you’re focused on single-family homes: expect faster timelines, stronger competition, and fewer second chances on the best homes.
• If you’re open to condos or townhomes: you may have more room to negotiate, more time to evaluate options, and more opportunities to secure favorable terms.

What This Means for Sellers

Sellers are still in a strong position overall, but the strategy needs to match the segment. Single-family sellers continue to benefit from low inventory and consistent demand, especially when the home shows well and is priced in line with current buyer expectations.

For condo sellers, the market is more competitive. With higher supply and longer timelines, presentation, pricing, and positioning matter more than ever. Buyers are comparing options carefully, and the listings that feel overpriced or under-prepared are the ones most likely to sit.

The best move for sellers right now is simple: don’t rely on last year’s momentum. Rely on a smart plan—one that’s aligned with today’s conditions and today’s buyer mindset.

Looking Ahead

As we move further into spring, the market typically becomes more active as buyers and sellers re-engage after the start of the year. This month’s rise in pending sales suggests that demand is already building under the surface—especially in the single-family segment.

In the months ahead, success will continue to favor people who move with intention: buyers who are prepared and strategic, and sellers who understand how to position their home clearly in a market where buyers are paying attention to value.

Common Questions We’re Getting Right Now

Is the Oʻahu market slowing down or staying strong?

It’s staying strong, but it’s more balanced than it feels on the surface. Single-family homes remain competitive with supply at 2.8 months and nearly 31% selling above asking, while condos are giving buyers more flexibility with 6.0 months of supply and longer selling timelines.

Why do single-family homes still feel so competitive?

Because supply is still tight and buyers are still active. Active listings are down 8.2%, homes are selling in a median of 27 days, and pending sales jumped 14.4%. When selection is limited, the best homes tend to attract strong competition quickly.

Are condos becoming a better opportunity for buyers?

For many buyers, yes. Condo inventory expanded 5.8%, supply increased to 6.0 months, and only 7% of sales closed above asking price. That combination typically creates more negotiating room, especially for buyers who are patient and value-focused.

What’s the clearest demand signal heading into spring?

Pending sales. Single-family pending sales rose 14.4%, and condo pending sales rose 5.0%. That tells us buyers are still moving forward—especially when the home feels like the right fit at the right value.