What would you do with an extra $260,000? Move to a larger home, or a new neighborhood? Add an Accessory Dwelling Unit (ADU) to your existing home, or renovate your kitchen and baths? If you think you don't have that kind of cash on hand, you might be pleasantly surprised: Many Oahu homeowners have a significant amount of home equity—it's almost like your home is a piggy bank that grows bigger each year.

As the saying goes, all real estate is local. Looking at housing data for Oahu overall can provide a good bird's-eye view of the market, but it's not always a good barometer of what's happening on your block. That's why in addition to crunching the monthly numbers for the Oahu market, Locations' Research Department also analyzes single-family home and condo local market areas—even drilling down to the island's 365 neighborhoods.

Spring has sprung, and despite higher interest rates, homebuyers are venturing out in neighborhoods across Oahu. Islandwide, about one in three homes were bid up over the asking price in March 2024, a sign of moderate demand. But in some neighborhoods, competition is even stiffer. Read on to find out which neighborhoods are most in demand this spring.

As we head into the busy spring and summer season, the Oahu real estate market is stable and largely following typical seasonal trends. We continue to see strong demand, especially for single-family homes, and can expect to see moderate prices increases in the coming months.