O‘ahu Housing Market Gains Momentum In 2025
Single-family home and condo sales rise year-over-year, while inventory growth provides buyers with more options
According to figures released today by the Honolulu Board of REALTORS®, O‘ahu’s housing market saw an active start to the year, with both single-family home and condo sales increasing year-over-year. Single-family home sales rose 6.5% to 196 transactions, while condo sales grew 6.8% to 312 transactions compared to January 2024.
Median sales prices also increased, with single-family homes rising 9.7% to $1,120,000 and condos up 7.4% to $539,500, highlighting strong demand across both markets.
Using data collected from its computerized Multiple Listing Service (MLS) system, the Board reported the following statistics:
Single-Family Home Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| January 2025 | 196 +6.5% | $1,120,000 +9.7% |
| January 2024 | 184 | $1,021,016 |
Condominium Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| January 2025 | 312 +6.8% | $539,500 +7.4% |
| January 2024 | 292 | $502,500 |
Single-family homes recorded a median of 25 days on market, down from 29 days last year, while condos had a median of 39 days, up from 29 days. Pending sales declined slightly year-over-year, dipping about 5% in both markets, but contract signings experienced an uptick compared to a month ago, rising 7.7% for single-family homes and 15.2% for condos. January ended with 209 pending single-family home sales and 357 pending condo sales.
More sellers listed their properties in January, with 336 new single-family home listings, a 17.9% increase year-over-year, and 739 new condo listings, up 27.2%. Active inventory rose 20.9% for single-family homes and 54.9% for condos compared to last year. Month-over-month, inventory grew by 8.7% for single-family homes and 8.3% for condos.
“January’s increase in new listings has provided buyers with more choices across price points and regions,” said Trevor Benn, President of the Honolulu Board of REALTORS®. “Every homeownership journey is different, and with more inventory available, buyers have a wider range of options to find a home that fits their needs.”
The strongest growth in single-family home sales occurred in the $1,100,000 to $1,299,999 price range, more than doubling from 18 to 39 transactions. However, the data indicates that this increase was not driven by buyers overbidding, as 62% of those homes sold below the original list price, with sellers receiving a median of 97.4% of their asking price.
“While demand remains steady, buyers are approaching transactions with more negotiation power, making it essential for sellers to understand market trends and position their properties competitively,” added Benn. “A REALTOR® provides the insights and expertise to help sellers navigate pricing strategies, attract serious buyers and achieve the best possible outcome in a shifting market.”
Across all single-family home sales, 23% closed above the original asking price, nearly identical to last year. In the condo market, the upper price range of $1,000,000 and above accounted for a greater share of sales, rising 125% from 16 to 36 sales. Fewer condos closed above asking price, representing 10% of transactions compared to 17% last January.