Oahu Real Estate Market Update 2026: What Buyers and Sellers Need to Know

The Oahu real estate market 2026 story is really two stories: single family homes keep climbing, while condos are flat and buyers have more choices. In August 2026, the median Oahu single family home sold for $1,240,000 (up 12.2% from a year earlier) and the median condo sold for $510,000 (down 1.0%), according to the Honolulu Board of Realtors.

I am Devin Hammack, a Realtor with Island Homes Oahu, and I update this page with the newest official numbers I can verify, so you are not making a big decision off a mainland headline or an old article. Here is what the latest data says and what it means for buyers and sellers.

In this guide:

• Oahu real estate market 2026: the latest numbers
• Why condos and single family homes are moving differently
• What mortgage rates mean for Oahu right now
• What buyers need to know
• What sellers need to know
• VA buyers and the Oahu market
• How to read a monthly median without getting fooled
• FAQ
• Bottom line
• Sources

Oahu Real Estate Market 2026: The Latest Numbers

These figures come straight from the Honolulu Board of Realtors August 2026 market report, which is built from Oahu MLS resale data. It is the newest monthly report posted as of this update. September numbers usually come out in the middle of the following month.

A few more details from the same report are worth knowing:

• Single family sellers received a median of 100% of their original asking price, up from 98.8% a year earlier. 51% of single family sales closed at or above asking, and 33% closed above asking.
• Condo sellers received a median of 97.1% of original asking price, and only 10% of condo sales closed above asking.
• New listings rose 14.5% for single family homes (364) and 6.4% for condos (684) compared to August 2025.
• Pending sales dipped: single family down 7.6% to 279, condos down 3.2% to 393.
• Year to date through August, single family sales were up 5.9% and condo sales were down 1.6%.

For context, the month before looked similar. In July 2026, HBR reported a single family median of $1,224,500 (up 13.9%) and a condo median of $504,500 (up 3.0%), with single family homes selling in a median of 14 days and condos in 38 days.

Why Condos and Single Family Homes Are Moving Differently

If you only read one line of this update, read this one: Oahu is not one market. Single family homes and condos are behaving like two different markets in 2026, and the advice for each is different.

Single family homes are selling fast and close to full price. Part of the jump in the median is about what sold, not only what things are worth. HBR noted that single family sales between $1,300,000 and $1,499,999 rose 74.1% in August, from 27 to 47 sales. When more higher priced homes close in a month, the midpoint moves up. That is still a strong market, but it is a reason not to assume every home gained 12% in a year.

Condos have more supply and more careful buyers. HBR’s president, Aaron Tangonan, pointed out in the August report that condo buyers look at maintenance fees, insurance and reserve funding as part of the monthly cost, and those carrying costs shape what they are willing to pay. Two condos at the same price can have very different monthly costs. I break that down in Oahu HOA fees explained.

There is also real activity at lower price points. In August, 48% of condo sales closed under $500,000, and 27% of single family sales closed under $1 million. At month end, 1,232 active listings were priced at $500,000 and below. If you are torn between the two property types, my guide on condo vs house on Oahu walks through the tradeoffs.

What Mortgage Rates Mean for Oahu Right Now

Freddie Mac’s Primary Mortgage Market Survey showed the 30-year fixed rate averaging 7.03% as of September 24, 2026, up from 6.95% the week before and up from 6.30% a year earlier. The 15-year fixed averaged 6.42%. These are national averages. Your actual rate depends on your loan type, credit, down payment and the day you lock, so your lender is the only one who can quote it.

Here is how I think about rates on Oahu. Prices here start high, so a rate change moves the monthly payment by a meaningful amount, but it does not turn an Oahu home into a cheap home. Rates also affect how many buyers are shopping. When rates ease, more buyers tend to come back at the same time, and that can mean more competition for the same listings.

My honest advice is to plan around the payment you are comfortable with today, and treat a future rate drop as a possible bonus, not the plan. If you are weighing whether to wait, read waiting for lower mortgage rates on Oahu. For affordability questions, talk with a lender. This page is general information, not financial advice.

What Buyers Need to Know in the Oahu Real Estate Market

Here is what matters most for buyers, based on the numbers above and what I see with my own clients.

• Match your strategy to the property type. With single family homes selling in a median of 17 days at 100% of asking, a well priced house can be gone in a couple of weeks. With condos at 37 days and 97.1% of asking, you often have more time and more room to negotiate.
• Get pre-approved, not just pre-qualified. Sellers want to see that a lender has actually reviewed your file.
• Understand leasehold. Some Oahu listings look like bargains because they are leasehold, which means you are not buying the land under the home. Financing and resale can be harder. Read leasehold vs fee simple on Oahu before you make an offer on one.
• Read the condo documents. Ask about maintenance fees, insurance, reserves and any planned special assessments. Those numbers affect your monthly cost as much as the price does.
• Know the local help that exists. In its August report, HBR noted that as of July, 50 loans had been approved through HHFDC’s Hale Kamaʻāina Mortgage Program, with 14 already closed. Ask your lender which programs you might qualify for.

You can start your Oahu home search here, and my buyers page has more resources. Still deciding whether to buy at all? My post on renting vs buying on Oahu covers that question honestly.

Buying this year? Get your Buyer Game Plan, or call or text me at (808) 459-6450.

What Sellers Need to Know

Sellers are in a solid spot overall, but the data says your plan should depend on what you own.

• Single family sellers: homes are moving quickly, and half of August sales closed at or above asking. But new listings were up 14.5% and pending sales were down 7.6% from a year earlier, so buyers have a few more options than they did. Price it right from day one.
• Condo sellers: you are competing with more listings, and only 10% of condo sales closed above asking in August. Tangonan said sellers who price realistically from the start and are upfront about their building’s financial position have generally seen stronger results. Have your association documents, fees and reserve information ready early.
• Pricing is strategy, not ego. Your home is worth what buyers will pay today, based on recent comparable sales and current competition. It is not set by what you paid, what a neighbor got a few years ago, or an online estimate.
• Condition matters. Prepare the home or price it honestly.
• Leasehold needs a plan. The pool of buyers and lenders is smaller, so marketing has to explain the lease clearly.

Want to know what your home is worth in today’s market? For the full process, from prep to closing, read my guide to selling your house on Oahu, and see more seller resources at islandhomesoahu.com/home-sellers/.

VA Buyers and the Oahu Market

VA loans come up constantly in my work, for buyers and for sellers deciding which offer to take. Here is what the VA itself says about its purchase loans:

• No down payment, as long as the sales price does not go above the home’s appraised value.
• No private mortgage insurance.
• You may need to pay a one-time VA funding fee.
• With full entitlement, there is no VA loan limit, as long as you can afford the loan and the appraisal supports the price.

That last point matters on Oahu, where the single family median is above $1.2 million. Your lender still decides how much you qualify for. For the full details, see my VA loan guide for Oahu. Sellers, do not dismiss a VA offer: a fully pre-approved VA buyer can be a strong, clean offer.

How to Read a Monthly Median Without Getting Fooled

In the July report, Tangonan put it simply: a monthly median is the midpoint of what sold, not a price tag on anyone’s home. A few things to keep in mind:

• The mix changes every month. If more expensive homes happen to close in a given month, the median rises even if your home’s value did not change.
• Islandwide numbers hide local differences. A single Oahu median blends every region and every price point. Your home’s value comes from sales of similar homes near you.
• Watch days on market and sale to list price. Those two numbers tell you how much negotiating room there is, which a median cannot.

If you want to browse what is actually on the market, you can look at homes for sale in Ewa Beach, Kaneohe, Mililani, and the North Shore, or anywhere on the island.

Oahu Real Estate Market FAQ

What is the median home price on Oahu right now?

In August 2026, the Honolulu Board of Realtors reported a median of $1,240,000 for Oahu single family homes and $510,000 for condos. Those are the newest official monthly figures as of September 30, 2026.

Are Oahu home prices going up or down in 2026?

It depends on the property type. The single family median was up 12.2% year over year in August 2026, while the condo median was down 1.0%. Part of the single family increase came from more sales at higher price points.

Is it a buyer’s or seller’s market on Oahu?

For single family homes, the numbers lean toward sellers: a median of 17 days on market and 100% of original asking price in August. Condos are more balanced, with 37 days on market, 97.1% of asking and more active listings.

How long does it take to sell a home on Oahu?

In August 2026, the median was 17 days on market for single family homes and 37 days for condos, per HBR. Your timeline depends on price, condition and competition, and closing usually takes more time after you accept an offer.

What are mortgage rates right now?

Freddie Mac reported a national average of 7.03% for a 30-year fixed rate as of September 24, 2026. Your own rate depends on your situation, so ask a lender for a quote.

Should I wait to buy until prices or rates drop?

Nobody can promise when either will move. I suggest planning around a payment you are comfortable with today and talking with a lender about your options, rather than timing the market.

Bottom Line

The Oahu real estate market in 2026 rewards preparation. Single family homes are selling fast near full price, with a $1,240,000 median in August. Condos have more inventory and more negotiating room, with a $510,000 median. Buyers who get pre-approved, read the documents and understand leasehold will find real options. Sellers who price honestly from day one and present their home well are still getting strong results.

I update this page as new official numbers come out. Want to talk about what they mean for you? I am happy to have a straight, no pressure conversation.

Selling? Get a free home value. Buying? Get your Buyer Game Plan. Or call or text me at (808) 459-6450. I am Devin Hammack with Team Taparra at eXp Realty.

Sources

• Honolulu Board of Realtors, Market Report: August 2026
• Honolulu Board of Realtors, Market Report: July 2026
• Freddie Mac, Primary Mortgage Market Survey (as of September 24, 2026)
• VA.gov, VA Purchase Loan
• VA.gov, VA Home Loan Limits