The Oahu housing market experienced another major shift in April 2026, with both single-family homes and condos showing declines across several key metrics.

From falling inventory to lower transaction volume, the latest housing data paints a changing picture for buyers, sellers, and investors across the island. While prices softened slightly, one trend stands out above all others: inventory remains extremely tight for single-family homes.

Here’s what you need to know about the latest Oahu real estate market update.

Oahu Single-Family Home Market Update

Single-family home sales on Oahu dropped 4.6% year over year in April 2026. A year ago, 241 homes sold during the month of April. This year, that number fell to 230 sales.

At the same time, the median home price also declined slightly. The median price dropped from $1.17 million in April 2025 to $1.15 million in April 2026. While prices are still historically strong, the market has moved off the record highs seen earlier this year when prices briefly climbed above $1.2 million.

Homes Are Still Selling Quickly

Despite slower sales activity, homes are still moving fast on Oahu. Median days on market fell from 29 days last year to just 24 days this April, representing a 17% decrease. This indicates that well-priced homes continue attracting serious buyer demand. For sellers, this remains an encouraging sign.

Oahu Inventory Continues to Shrink

One of the biggest stories in the April 2026 report is inventory. Single-family home inventory dropped 12.2% year over year. In April 2025, there were 805 homes for sale across Oahu. This year, inventory fell to just 707 homes. Historically, inventory levels near 800 homes were already considered low for Oahu. The current supply shortage highlights how limited the detached home market remains.

Oahu Is Still a Seller’s Market

Months of remaining inventory also declined sharply. The market dropped from 3.5 months of inventory last year to just 2.9 months in April 2026. In real estate, anything below six months of inventory is generally considered a seller’s market. That means sellers on Oahu still hold a strong advantage due to limited competition and low housing supply. Even with mortgage rate concerns and broader economic uncertainty, homeowners considering selling this summer may still find favorable conditions.

Oahu Condo Market Update

The condo market on Oahu also experienced declines in April 2026, although conditions remain very different compared to single-family homes. Condo sales dropped 4.3% year over year, falling from 395 transactions last year to 378 sales this April. Meanwhile, the median condo price slipped slightly from $505,000 to $500,000. '

Condo Inventory Finally Declines

One surprising shift in the report involves condo inventory. Throughout much of last year, condo supply continued rising month after month. However, April 2026 marked a reversal of that trend. Condo inventory fell 6.3% year over year, decreasing from 2,512 available units to 2,363 condos for sale. This could signal a stabilization phase in the condo market after an extended period of oversupply.

Is It a Good Time to Buy an Oahu Condo?

Even with lower inventory, condos on Oahu are still considered a buyer’s market. Months of remaining inventory decreased from 6.8 months to 6.5 months, but that still remains above the six-month threshold typically associated with buyer-friendly conditions.

For buyers, this creates opportunities to negotiate pricing, concessions, and terms, especially in certain buildings and neighborhoods where inventory remains elevated. Many local experts believe current conditions may not last forever. Buyers looking at long-term ownership or investment opportunities could benefit from today’s softer condo market before conditions tighten again.

Final Thoughts on the Oahu Housing Market

The April 2026 Oahu housing market report shows a market in transition.

Key takeaways include:

  • Lower home and condo sales
  • Slight price declines
  • Faster selling times
  • Falling inventory levels
  • Continued seller strength for homes
  • Buyer opportunities in the condo market

While headlines often focus on mortgage rates and economic uncertainty, the reality on Oahu remains highly dependent on housing supply. Limited inventory continues supporting prices and competition, especially for single-family homes. At the same time, condo buyers may find some of the best opportunities seen in recent years.

As always, every neighborhood and building on Oahu behaves differently, making local market knowledge critical when buying or selling real estate.

David E. Buck | 808-371-3509