Oahu Real Estate Market Update: What Happened in July 2026?

The Oahu real estate market continued to show significant differences from one neighborhood to another in July 2026. While some areas experienced major increases in home and condo sales, others saw activity decline.

For buyers and sellers, these neighborhood-level trends are important. Looking at Oahu as a whole doesn't always tell the complete story.

Here are some of the biggest takeaways from the July 2026 Oahu real estate market.

Downtown to Nuuanu Sees a 1,200% Increase in Home Sales

One of the biggest increases in single-family home sales came from Downtown to Nuuanu.

In July 2025, just one single-family home sold in this area. In July 2026, that number increased to 13 sales.

That's a 1,200% year-over-year increase in home sales.

This dramatic percentage increase is partly influenced by the relatively small number of sales from the previous year. Even so, the increase highlights how much activity can change within a specific Oahu neighborhood.

Nuuanu is also notable for higher-priced properties, including a featured property in the Old Pali neighborhood. The property includes four bedrooms and four bathrooms, with all four bedrooms featuring en-suite bathrooms, plus a half bath in the main house.

The property also includes a two-bedroom, one-bath cottage on approximately 20,000 square feet of land. Both dwellings are legal under the property's R-10 zoning.

Oahu Home Sales Show a Mixed Picture

Across the 21 major Oahu neighborhoods reported on each month by the Honolulu Board of REALTORS®, single-family home sales produced a mixed result.

In July 2026:

  • 10 neighborhoods saw an increase in home sales.
  • 1 neighborhood was flat.
  • 10 neighborhoods saw a decline.

That split demonstrates how important location is when evaluating the Oahu housing market.

Instead of assuming the entire island is moving in one direction, buyers and sellers should examine the specific neighborhood, property type, and price range relevant to them.

North Shore Leads Oahu in Home Price Appreciation

The North Shore of Oahu recorded the largest year-over-year increase in median single-family home sales price in July 2026.

The median sales price increased 36%, rising from $1,240,000 in July 2025 to $1,690,000 in July 2026.

That made the North Shore the strongest neighborhood for median home price appreciation among the areas discussed in the July market update.

For homeowners considering selling, this type of price movement can be significant. For buyers, it highlights the importance of understanding current neighborhood-level pricing before entering the market.

Oahu Condo Sales Are Starting to Pick Up

The condo market also showed encouraging signs in July 2026.

Waialae to Kahala led the island in the increase in condo sales, with transactions rising 167% year over year.

The neighborhood went from just three condo sales in July 2025 to eight sales in July 2026.

While the total number of transactions remains relatively small, the increase represents a significant change in year-over-year activity.

Across the 21 major Oahu neighborhoods included in the monthly report:

  • 12 neighborhoods saw condo sales increase.
  • 3 neighborhoods were flat.
  • 6 neighborhoods saw sales decline.

Overall, those numbers suggest that Oahu's condo market may be beginning to show more activity.

Waialae to Kahala Condo Prices Jump 412%

The most dramatic condo pricing change came from Waialae to Kahala.

The median condo sales price increased 412% year over year, moving from $120,000 in July 2025 to $614,750 in July 2026.

At first glance, a 412% increase is an extraordinary number. However, median sales prices can be heavily influenced by the specific properties that sell during a given month.

The previous year's $120,000 median was likely influenced by sales at Kahala Beach Apartments, which are leasehold condominiums.

That distinction is important when looking at the year-over-year numbers.

Kahala Beach Apartments and the Leasehold Market

Kahala Beach Apartments provides an important example of why buyers and sellers should look beyond headline statistics.

The property is a leasehold condominium, meaning ownership is tied to a land lease rather than ownership of the underlying land.

According to the information discussed in the July 2026 market update, the land lease is scheduled to expire in July 2027.

With that date approaching, the leasehold structure may be an important factor when analyzing sales and pricing at the property.

As a result, comparing a $120,000 median condo sales price from one year to a $614,750 median the following year may not represent a typical appreciation trend across all condos in the Waialae-Kahala area.

What Does This Mean for Oahu Buyers and Sellers?

The July 2026 Oahu real estate market shows why local market knowledge matters.

Some neighborhoods experienced substantial increases in sales, while others saw activity decline. Condo sales were up in more than half of the 21 major neighborhoods tracked, while single-family home sales were evenly split between neighborhoods with increases and declines.

The biggest numbers from July include:

  • 1,200% increase in single-family home sales from Downtown to Nuuanu.
  • 36% increase in North Shore median home sales price.
  • 167% increase in condo sales from Waialae to Kahala.
  • 412% increase in Waialae-Kahala median condo sales price.

However, percentages alone don't tell the entire story. The number of transactions, property types, leasehold versus fee-simple ownership, and the specific properties sold can all have a major impact on monthly market statistics.

Understanding Your Oahu Neighborhood Matters

The Oahu real estate market is not one single market.

Downtown, Nuuanu, the North Shore, Waialae, and Kahala can all experience very different conditions at the same time.

Whether you're considering buying a condo, selling a single-family home, or simply tracking the Honolulu housing market, neighborhood-specific data can provide a much clearer picture of what's actually happening.

For specific questions about Oahu neighborhoods, condo buildings, or current market conditions, contact David Buck with Harcourts Island Real Estate at 808-371-3509.

Mahalo for following the July 2026 Oahu real estate market update.