Oahu’s real estate market continues to show a major divide between single-family homes and condos. In August 2026, the median price of a single-family home on Oahu jumped 12.2% from a year earlier, reaching $1.24 million.
At the same time, the Oahu condo market experienced declining sales, slightly lower prices, and increasing inventory.
So, what does this mean for buyers and sellers in the Oahu real estate market?
Oahu Single-Family Home Prices Rise 12.2%
The biggest headline from the August 2026 Oahu real estate market is the continued strength of single-family home prices.
The median single-family home price increased from $1,105,500 a year ago to $1,240,000 in August 2026. That represents a 12.2% increase.
The August median was also just $2,500 below the record price reached several months earlier.
Despite higher mortgage rates, demand for single-family homes remains strong while available inventory continues to be limited.
Single-Family Home Sales Increased
There were 264 single-family homes sold on Oahu in August 2026, compared with 259 sales during the same month a year earlier.
That represents a 1.9% increase in sales.
While the increase in transaction volume was relatively modest, the combination of higher prices and limited inventory continues to support sellers in the Oahu housing market.
Oahu Homes Are Selling Faster
Another important market indicator improved for sellers.
The median days on market for single-family homes dropped from 22 days last year to just 17 days in August 2026.
That is a 22.7% decrease.
In other words, buyers who are searching for an Oahu home may need to move quickly when the right property becomes available.
Oahu Home Inventory Remains Extremely Low
Inventory continues to be one of the defining characteristics of the Oahu real estate market.
There were only 794 single-family homes available for sale in August 2026, compared with 790 a year earlier.
Although that represents a small increase, inventory remains historically low.
For perspective, the current level is comparable to inventory levels discussed during the 2007 housing market, when having around 800 homes for sale was considered historically low.
Today, Oahu has experienced years of additional residential construction, particularly in areas such as Ewa Plain, Ewa Beach, and Kapolei. Yet the number of homes available for sale remains remarkably limited.
Why Are So Few Oahu Homeowners Selling?
One possible factor is mortgage rates.
Many homeowners who purchased or refinanced during periods of historically low interest rates are currently sitting on mortgages with rates substantially below today's levels.
Selling a home could mean giving up that lower mortgage rate and purchasing another property with a significantly higher rate.
That creates a financial incentive for some homeowners to stay where they are rather than sell.
The result is a limited supply of homes coming onto the market, which can contribute to continued price pressure when buyer demand remains strong.
Oahu Condos Tell a Different Story
The condo market in Oahu is showing a very different trend.
Condo sales declined 6.6% year over year. There were 365 condo sales in August 2026, compared with 391 during the same period a year earlier.
The median condo price also decreased slightly.
A year ago, the median Oahu condo price was $515,000. In August 2026, it was $510,000, representing a 1% decline.
Oahu Condos Are Selling Faster
There is some positive news for condo sellers.
Although sales declined and inventory increased, condos are taking less time to sell.
The median days on market dropped from 48 days a year ago to 37 days in August 2026.
That's a 22.9% decrease.
So while the condo market has more available supply than the single-family market, properties that attract buyers are still moving more quickly than they did a year ago.
Condo Inventory Is Increasing
Unlike single-family homes, condo inventory on Oahu is moving higher.
There are now more than 2,600 condos for sale, compared with 2,412 a year earlier.
That increase in available inventory gives condo buyers more options and contributes to the different market conditions compared with single-family homes.
Oahu Condos Remain in a Buyer's Market
Months of remaining inventory is an important measurement when evaluating whether a market favors buyers or sellers.
Six months is generally used as the dividing line.
Less than six months of inventory is considered a seller's market, while more than six months indicates a buyer's market.
In August 2026, Oahu condos had 6.9 months of remaining inventory, up from 6.7 months a year earlier.
That means the Oahu condo market remains a buyer's market and is becoming slightly more favorable to buyers based on inventory.
Could Oahu Condos Be a Long-Term Opportunity?
For buyers considering an Oahu condo, today's market may present an interesting opportunity.
Although buyers are dealing with higher mortgage rates and, in some cases, increasing maintenance fees and assessments, there is relatively limited new condo construction on Oahu.
Newer condo developments can also command significantly higher prices, with some newer offerings reaching the multimillion-dollar range or exceeding $1 million for a two-bedroom condo.
Kuilei Place, developed by the Kobayashi Group, was mentioned as one of the more recent projects.
For buyers with a long-term perspective, the combination of current condo pricing, increased inventory, and limited new construction could make the current market worth watching closely.
Oahu Real Estate Market: Homes vs. Condos
The August 2026 statistics highlight just how different the two segments of the Oahu market have become.
Single-family homes continue to experience:
- Stronger prices
- Very limited inventory
- Faster sales
- 3.2 months of remaining inventory
- Seller's market conditions
Condos are experiencing:
- Lower sales volume
- Slightly lower median prices
- More inventory
- Faster days on market
- 6.9 months of remaining inventory
- Buyer's market conditions
For buyers and sellers, understanding this distinction is critical. The broader Oahu real estate market cannot be viewed as one single market because conditions can vary significantly depending on the property type.
What Does This Mean for Oahu Buyers and Sellers?
For single-family home buyers, limited inventory and rising prices could make the market challenging. Buyers may need to be prepared to act quickly when desirable properties become available.
For single-family home sellers, the combination of strong prices, low inventory, and faster sales continues to create favorable conditions.
For condo buyers, the increased inventory and buyer-friendly market could provide more negotiating opportunities and a larger selection of properties.
For condo sellers, pricing and positioning may be particularly important because buyers have more choices.
Ultimately, the right strategy depends on the specific property, neighborhood, price range, and individual circumstances.
Final Thoughts on the August 2026 Oahu Real Estate Market
The August 2026 Oahu real estate statistics tell a fascinating story.
Single-family home prices are approaching record levels, with the median price reaching $1.24 million. Inventory remains exceptionally low, and homes are selling faster than they were a year ago.
The condo market is much different. Sales are down, the median price has slipped slightly, and inventory has increased enough to keep the segment in buyer's-market territory.
For anyone considering buying or selling real estate on Oahu, these differences are important.
The Oahu housing market is not moving in one direction. Single-family homes and condos are following distinctly different trends, creating different opportunities and challenges for buyers and sellers.
For questions about Oahu real estate or the local market, contact David Buck with Harcourts Island Real Estate at 808-371-3509.
Mahalo for reading, and stay tuned for the next Oahu local market update.