The Oahu real estate market is off to a mixed start this year, with moderate increases in home and condo sales in January, along with modest rises in median prices. However, other market indicators, like growing months of supply and declining competitive bid-ups, point to softer conditions. Despite these factors, Locations anticipates steady growth in home sales and prices in 2025, particularly if mortgage rates drop to the mid-sixes in the coming months as expected.

Think you can't find a single-family home on Oahu for less than $600,000? Think again! While the island-wide single-family home median price was more than $1million in December 2024, it's still possible to find a home for less than $600,000—if buyers are willing to be flexible when it comes to location and condition of the home.

The Honolulu City Council is considering a new rule called the Empty Homes Tax. This tax would charge owners who leave their homes empty for a long time (There are an estimated 34,000 vacant homes on Oahu). The goal of the proposed bill is to encourage owners to use these homes or rent them out. Supporters also hope that the tax will help to address Honolulu's shortage of affordable housing.