Home Sales Soften as Inventory Continues to Build Across O’ahu
According to HBR's latest market report, April brought another dip in sales activity across Oʻahu’s housing market. At the same time, more new listings were added, giving buyers a wider selection than we’ve seen in recent months.
Single-family home sales fell 8% year-over-year, while the median sales price rose 6.4%. The median days on market for single-family homes was 29 days, compared to 17 days last April.
Condo/townhome sales fell 8.4% as the median condo price dipped 4.4%. Condo units saw a median days on market of 43 days, two weeks longer than a year ago.
With new listings up in both markets, the month ended with 805 active single-family home and 2,512 condo listings, up 30.3% and 59.4%, respectively, from April 2024.
April 2025 Report also shows:
- Active inventory grew in both markets, ending the month with 805 single-family homes and 2,512 condos available for sale—up 30.3% and 59.4%, respectively, compared to April 2024.
- Fewer properties closed above the original asking price in April, reflecting a shift in buyer and seller dynamics. Among single-family home sales, 27% closed above asking, down from 33% in April 2024. In the condo market, just 9% of transactions sold above the original asking price, compared to 15% a year ago.
“Higher borrowing costs and rising maintenance fees are shaping how buyers evaluate their options. Even as more inventory becomes available, we’re seeing a more deliberate, value-focused approach to decision-making. Fewer properties closing above the asking price is prompting a shift in seller strategy where pricing and patience are playing a larger role in how homes move,” said Trevor Benn, President of the Honolulu Board of REALTORS®.
