Oʻahu Home and Condo Sales Cool Down Ahead of Summer
Sales activity softens as more listings and active inventory continue to build across the market
According to figures released today by the Honolulu Board of REALTORS®, both single-family home and condo sales declined in April. Single-family home sales fell 8.0% year-over-year with 241 closed sales, while condo transactions dropped 8.4% to 395. Year-to-date, sales volume remains behind 2024 levels, down 5.3% for single-family homes and 2.3% for condos.
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 | |
|---|---|---|
| April 2025 | 241 -8.0% | $1,170,000 +6.4% |
| April 2024 | 262 | $1,100,000 |
Condominium Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| April 2025 | 395 -8.4% | $505,000 -4.4% |
| April 2024 | 431 | $528,000 |
The median sales price for a single-family home rose 6.4% year-over-year to $1,170,000, a 0.9% uptick from March. Meanwhile, the condo median price dipped 4.4% to $505,000 year-over-year, up 1.0% month-over-month. Properties also spent more time on the market in April. The median days on market for single-family homes increased to 29 days, up from 17 a year ago, while condos rose to 43 days, up from 29.
In the single-family market, sales declined across most price points, with the $700,000 to $999,999 range experiencing the sharpest drop, falling 28.1% from 96 to 69 transactions. Condos saw the largest decrease in the $400,000 to $499,999 range, down 33.3% from 78 to 52 sales. In contrast, the $200,000 to $399,999 condo range was one of the few to see an increase, rising 31.0% from 84 to 110 transactions.
Affordability remains top of mind for many condo buyers, who continue to weigh financing and rising monthly maintenance fees alongside listing prices. The 30-year fixed-rate mortgage averaged 6.76% as of May 1, while the first quarter average stood at 6.83%, according to Freddie Mac.
“Higher borrowing costs and rising maintenance fees are shaping how buyers evaluate their options,” said Trevor Benn, President of the Honolulu Board of REALTORS®. “Even as more inventory becomes available, we’re seeing a more deliberate, value-focused approach to decision-making. REALTORS® help clients cut through the noise and stay grounded in what’s right for their goals.”
Buyers faced a growing selection of listings in April as new listing volume continued to climb across both markets. In the single-family home segment, 366 new listings were added, up 4.9% year-over-year. Of these new listings, homes priced in the $600,000 to $999,999 range increased 26.8% year-over-year to 123 listings. In contrast, new listings in the $1,000,000 to $1,299,999 range declined 20.9%, falling from 91 to 72. New condo listings rose more significantly, with 851 units in April—a 29.7% year-over-year increase. Nearly 60% of those condo listings were priced at $599,999 and below.
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 are closing above the asking price, and that’s prompting a shift in seller strategy. Strategic pricing and patience are starting to play a larger role in how homes move,” added Benn.
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.