Oʻahu Single-Family Home Sales Increase Heading Into Summer
Single-family homes remained on the market for less than two weeks at 13 days, while condo median days on market increased to 43 days
According to resale figures released today by the Honolulu Board of REALTORS®, single-family home sales increased 8.5% year-over-year to 255 transactions in May, compared to 235 a year ago, while condo sales continued to lag behind 2025 volume, falling 9.4% year-over-year with 339 closings compared to 374 in May 2025. Properties priced at $500,000 or less accounted for 157 sales in May and 823 year-to-date, with 1,193 active listings available in that price range.
The median sales price for single-family homes remained relatively stable in May, dipping 0.8% year-over-year to $1,166,000. The condo median sales price increased 4.0% compared to May 2025, ending the month at $520,000.
Using data collected from its Multiple Listing Service (MLS) system, the Board reported the following statistics:
Single-Family Home Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| May 2026 | 255 +8.5% | $1,166,000 -0.8% |
| May 2025 | 235 | $1,175,000 |
Condominium Resales
| Number of Sales | Median Sales Price | |
|---|---|---|
| May 2026 | 339 -9.4% | $520,000 +4.0% |
| May 2025 | 374 | $500,000 |
Median days on market were mixed in May, with single-family homes spending a median of just under two weeks on the market at 13 days, compared to 21 days a year ago. Condo median days on market increased from 39 to 43 days over the same period.
“We’re seeing encouraging activity from buyers across price ranges as we head into the summer season,” said Aaron Tangonan, president of the Honolulu Board of REALTORS®. “While affordability remains a challenge, buyers today have more options, more inventory and more resources available to help them navigate the market than they did just a few years ago.”
Additional Market Insights for May:
- Buyer activity remained stronger than a year ago, with pending sales increasing 8.8% in the single-family home market and 7.0% in the condo market.
- Thirty-five percent of single-family home sales closed above the original asking price, compared to 29% a year ago. In the condo market, 9% of sales closed above asking price, down from 11% last May.
- Single-family home new listings increased 3.3% year-over-year from 392 to 405 listings. Condo new listings dipped 1.5% from 688 to 678 listings.
- Active inventory remained below 2025 levels in both markets, down 10.8% for single-family homes and 6.6% for condos.
May Homebuyer Highlights:
As affordability, financing and inventory continue to shape housing decisions across the state, the first homeowners to close on a home through the Hale Kamaʻāina Mortgage Program, and the first-time homebuyers currently in the pipeline, offer an example of how local residents are navigating today’s housing market. In May, the Hawaiʻi Housing Finance and Development Corporation (HHFDC) celebrated its first three homeowners who closed on homes through the program, which offers eligible first-time homebuyers below-market mortgage rates and down payment assistance. The program was created to help address some of the financial barriers to homeownership by improving affordability and expanding access to financing options for local residents.
“The first Hale Kamaʻāina homeowners demonstrate how financing tools and homeownership programs can influence affordability and create opportunities for buyers who may have otherwise remained on the sidelines. Understanding how those factors intersect with broader market conditions provides a more complete picture of today’s housing market. The board will continue to promote these programs and look forward to seeing more success stories,” shared Tangonan.
One of the first homeowners to close through the Hale Kamaʻāina Mortgage Program was Ashley Maeshiro, a 27-year-old public school teacher who purchased a one-bedroom condominium in Makiki through a $223,000 mortgage. Before purchasing her home, Maeshiro lived with family in town and had not viewed homeownership in Honolulu as financially attainable. Through the program, she was able to purchase her first home and establish roots in the community where she has chosen to build her life and career as an educator.
The Nacapuy family purchased a three-bedroom townhome in Mililani Mauka through a $581,000 mortgage after years of renting. Mhel Nacapuy, a USPS mail carrier, and his wife Maureen, a commissary worker, purchased the home with their 21-year-old son Raphael, who is completing his third year at UH West Oʻahu. After learning about the program through their REALTOR®, the family was able to transition from renting to homeownership despite Hawaiʻi's high housing costs, providing greater housing stability and an opportunity to build long-term equity.
Homeownership Resources and Opportunities
In recognition of National Homeownership Month in June, the Honolulu Board of REALTORS® encourages prospective buyers to explore the programs, financing options and educational resources available to help make homeownership more attainable.
According to Tangonan, “Sales, inventory and pricing trends provide important context, but they’re only part of the story. Looking beyond the headline figures helps provide a more complete understanding of the opportunities, challenges and decisions shaping today's housing market.”
Resources available to prospective first-time homebuyers include:
- Homebuyer Education & Coaching: HBR’s HOPE Homebuyer Education Program, offered in partnership with Hawaiʻi HomeOwnership Center, provides education, one-on-one coaching and mortgage readiness support. Since 2021, more than 850 participants have enrolled, with 70% purchasing a home or entering escrow within six to 18 months of program completion.
- Down Payment & Mortgage Assistance: HHFDC’s Hale Kamaʻāina Program offers eligible first-time homebuyers below-market mortgage rates, optional down payment and potential credit for closing cost assistance.
- Bank-Sponsored First-Time Homebuyer Programs: Several local lenders offer programs designed to support eligible first-time homebuyers, including American Savings Bank’s This is HOME Program, First Hawaiian Bank’s First Step Home LoanSM, Bank of Hawaiʻi’s First-Time Homebuyer Program and Territorial Savings Bank’s First-Time Homebuyer Special.
- Native Hawaiian Homeownership Assistance: OHA’s Access to Homeownership Program helps eligible Native Hawaiian first-time homebuyers qualify for a mortgage with a lower down payment and no private mortgage insurance through a partnership with American Savings Bank.