According to HBR's July market report, the Oʻahu housing market showed signs of cooling as summer winds down. Sales prices dip slightly but pending sales and active inventory remain strong.
Single-family home sales fell 7.4% year-over-year, and the median sales price dropped 5.7% to $1,075,000. The median days on market for single-family homes was 20 days, up from 15 days last July.
Condo/townhome sales remained flat as the median condo price dipped 3.7% to $490,000. Condos spent a median of 50 days on the market in July, up from 30 days the same time last year.
Active inventory was higher than a year ago. The month ended with 852 active single-family home and 2,459 condo listings, up 18.0% and 31.7%, respectively, from July 2024.
April 2025 Report also shows:
- Single-family Homes: New listings increased 1.7% year-over-year to 369, with ‘Ewa Plain seeing the largest jump at 29.4% (66 listings). The Central region saw the steepest drop, falling 31.3% to 22 listings. Diamond Head and ‘Ewa Plain saw the most notable increases in contract activity. Diamond Head pending sales rose 53.6% to 43, while ‘Ewa Plain rose 26.7% to 57. Together, these two regions accounted for more than one-third of pending sales.
- Condos: New listings declined 4.3% year-over-year to 647, led by decreases in the Metro (3.5%), Central (25.0%) and Hawai‘i Kai (39.3%) regions. Pending sales volume grew in most areas, with notable increases in the Metro (21.2%) and ‘Ewa Plain (61.5%) regions. Central and Pearl City saw declines of 44.7% and 40.0%, respectively. At month’s end, the largest supply of active condo inventory was in the $300,000 to $399,999 range, up 51.2% to 428 units. Several regions saw inventory increases of 60% or more, including Hawai‘i Kai, Leeward, Makakilo, Pearl City and Waipahu.
“While prices softened and more inventory became available, buyers appeared more strategic in July. With more options on the table, we saw decision timelines extend, especially in the condo market. Rising pending sales and increased buyer activity show promising signs that market confidence remains intact. The trends we’re seeing, particularly in specific price points and neighborhoods, point to a resilient, adaptive market,” said Trevor Benn, President of the Honolulu Board of REALTORS®.
