Hawaii Housing Market Update & Trends from Tanya Ahina, REALTOR®
The Market Cools, But O‘ahu Sellers Still Have the Edge
The Oahu real estate market in September 2025 shows signs of a seasonal cooldown — but not collapse.
Buyers are gaining a bit more leverage as homes spend longer on the market, while sellers continue to benefit from limited island inventory.
Across O‘ahu, homes sold for an average of 1.1% below list price, the largest September discount since 2019.
Still, tight supply is keeping prices strong. The median single-family home price held at $1,085,000, while the median condo price was $520,000, according to the Honolulu Board of REALTORS®.
Homes took 34 days (single-family) and 30 days (condos) to sell — a clear shift from the rapid sales pace we saw during the post-pandemic surge.
Key O‘ahu Market Highlights (September 2025)
|
Metric |
September 2025 |
Month-Over-Month |
Year-Over-Year |
|
Median Sale Price – SFH |
$1,085,000 |
+0.5% |
+2.1% |
|
Median Sale Price – Condo |
$520,000 |
+0.3% |
+1.5% |
|
Closed Sales |
285 |
+2.3% |
−3.8% |
|
New Listings |
368 |
−4.5% |
−6.0% |
|
Active Listings |
1,612 |
+1.1% |
+7.4% |
|
Median Days on Market |
34 |
+4 days |
+7 days |
|
Sale-to-List Ratio |
98.9% |
0 |
−0.4 ppts |
|
30-Year Mortgage Rate |
6.45% |
−0.10 ppts |
+0.15 ppts |
Buyer Competition Softens — Inventory Still Tight
Fewer bidding wars and longer days on market indicate a more balanced environment:
- Homes selling above list price: 28% (down from 35% a year ago)
- Sale-to-list price ratio: 98.9% — sellers are still close to asking
- Months of supply: 3.2 months statewide (still a seller’s market)
- New listings: down 6% year over year
This slowdown is largely due to higher borrowing costs and insurance expenses, plus mainland buyers who are waiting for interest-rate stability before making their next island purchase.
O‘ahu Home Prices Remain Resilient
Even with fewer transactions, home values across Hawaii continue to hold steady.
Year-over-year, statewide prices are up 2.1%. On O‘ahu, luxury communities like Kāhala, Kailua, and Hawai‘i Kai remain especially strong thanks to low turnover and limited supply.
Neighbor island snapshot:
- Maui: $1.19 M (−1.8% YoY)
- Big Island: $640 K (+3.4% YoY)
- Kaua‘i: $1.15 M (+1.6% YoY)
Mortgage Rates Ease — Buyer Activity Rebounds Slightly
Mortgage rates for Hawaii borrowers dipped to an average 6.45% in September, the lowest level since late 2024.
That modest drop encouraged more closings — closed sales rose 2.3% month-over-month, though pending sales were nearly flat.
Buyers remain rate-sensitive and are watching the Fed’s next move closely before locking in long-term financing.
What This Means for O‘ahu Homeowners
If you’re thinking about selling your Oahu home, this fall offers a window of opportunity.
Buyers are more discerning — but motivated. Properties that are priced correctly, beautifully presented, and marketed with professional storytelling continue to draw strong offers.
This season rewards preparation and precision.
As your trusted REALTOR® and advisor, I help you position your property so it sells confidently and strategically — even in a shifting market.
Tanya’s Take: The Bottom Line
The national market may be cooling, but O‘ahu remains one of the most resilient housing markets in the country.
We’re witnessing a return to normal, not a downturn. For homeowners considering downsizing or rebalancing their portfolio, now is the time to plan ahead and capitalize before the next interest-rate adjustment.
If you’d like a personalized home value update or want to explore how your property fits into today’s market, let’s talk.
I’ll help you make confident, informed decisions about your next chapter — whether that’s selling, downsizing, or simply understanding your home’s true worth in 2025.
Haute Hale Hawai‘i — Where Luxury Meets Aloha, because the ultimate luxury is peace of mind.
Tanya Ahina, REALTOR® | LPT Realty | RS-81960
📍 Serving O‘ahu & Across Hawai‘i | ☎️ 808-808457-0540 | 🌐 www.HauteHaleHawaii.com
Disclaimer: Market data is sourced from the Honolulu Board of REALTORS® and other reliable housing reports. Figures may vary slightly across sources and dates. For the most accurate analysis of your neighborhood, contact Tanya Ahina, REALTOR® (LPT Realty).