January 2021 was a record-breaking month for the Oahu real estate market. Record prices, strong sales, record low days on market and record-high bid-ups, all bucked the typical seasonal trend.

Realtors® Jeff Iwashita and Cory Takata became Locations’ newest partner and associate partner in January 2021, joining an elite group of 27 partners in the firm.

Median real estate prices on Oahu have not suffered from COVID-19 impact. Median home prices are well above last year’s levels, and condo median prices are rising above last year. The final median prices for 2020 are $830,000 for homes and $435,000 for condos, up 5% and 2% from last year, respectively. Lack of inventory for sale is the Oahu real estate market’s biggest issue, adding pressure on prices and increased competition for buyers. Homes for sale are scarcer than they have ever been, with only 453 active listings on the market.

As a Realtor and Certified Residential Specialist, I am often asked about which types of home improvement are worthwhile and would add value to the property. An Accessory Dwelling Unit (ADU) is at the top of my list for valuable home improvements.