The Oahu real estate market experienced some significant changes in October 2026, particularly in the condominium market, where sales dropped by more than 23% compared to the same time last year. While the single-family home market showed relatively modest declines in sales and prices, the condo market experienced a more noticeable slowdown. With increasing inventory and longer selling times, conditions are beginning to favor buyers looking for condominiums on Oahu. Let's take a closer look at the October 2026 Oahu real estate market statistics for both homes and condos.
Oahu Single-Family Home Sales and Prices
The single-family home market on Oahu saw an 8.4% decrease in sales compared to October 2025. There were 261 home sales during October of last year, compared to 239 transactions this past October. The median single-family home price also experienced a slight decline of 1.1%, dropping from $1,162,500 to $1,150,000. While these numbers indicate a modest cooling in the market, there was some positive news for sellers. Homes are selling considerably faster, with median days on market decreasing 42.3%, from 26 days last year to just 15 days in October 2026.
Oahu Housing Inventory Remains Relatively Tight
Active inventory for single-family homes increased 3.9% year over year, going from 775 available listings in October 2025 to 805 this past October. Despite this increase, inventory remains relatively limited compared to historical market conditions. Oahu currently has approximately 3.2 months of remaining inventory for single-family homes. Generally, a market with fewer than six months of inventory is considered a seller's market. This means that despite the slight decrease in home sales and median prices, sellers of well-priced homes continue to benefit from relatively favorable market conditions.
Oahu Condo Sales Drop 23.5%
The condominium market tells a considerably different story. Condo sales on Oahu dropped 23.5% compared to October of last year. There were 443 condo transactions in October 2025, compared to just 339 sales in October 2026. Median condo prices also declined by 6.7%, falling from $535,000 to $499,000. This puts the median condo price on Oahu below the $500,000 mark for the month. Another indication of a slower market is the increase in median days on market. Condominiums took an average of 49 days to sell in October 2026, compared to 44 days during the same month last year, an increase of 11.4%.
Oahu Condo Inventory Creates a Buyer's Market
One of the biggest developments in the October 2026 Oahu real estate market is the increase in available condominium inventory. Active condo listings increased approximately 7% year over year, climbing from 2,341 listings in October 2025 to 2,506 listings this past October. More importantly, Oahu now has approximately 7.1 months of remaining condo inventory. Generally, anything above six months of inventory is considered a buyer's market. This shift gives prospective condo buyers more properties to choose from and potentially more negotiating power when making an offer. For buyers who have been waiting for the right opportunity to purchase a condo in Honolulu or elsewhere on Oahu, the current market may be worth exploring.
What Does the October 2026 Oahu Real Estate Market Mean for Buyers and Sellers?
The October statistics highlight two very different market conditions across Oahu. Single-family homes remain in seller's market territory, with just 3.2 months of remaining inventory and homes selling faster than they did a year ago. Meanwhile, the condominium market has shifted into buyer's market territory, with 7.1 months of remaining inventory, declining median prices, and fewer completed transactions. Buyers interested in condominiums may have an advantage when negotiating, while condo sellers should pay close attention to pricing and competition from other available listings. If you're considering buying or selling a home or condo on Oahu, understanding these changing market conditions is essential to making an informed real estate decision.
For more information about buying or selling real estate in Hawaii, contact David Buck with Harcourts Island Real Estate at 808-371-3509.