Sales of Oahu Single-Family Homes, Condos, Increased in January 2025

What Happened in the Oahu Real Estate Market in January 2025?

“The Oahu real estate market is off to a mixed start this year,” said Chief Sales Officer for Locations Chad Takesue. “We saw 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.”

"Homebuyer and seller activity continues to be constrained by multiple conditions, including high borrowing costs, as well as condo insurance and maintenance costs, which negatively affect the affordability of many entry-level units,” Takesue added. “Despite these factors, we anticipate steady growth in home sales and prices in 2025, particularly if mortgage rates drop to the mid-sixes in the coming months as expected.”

Single-family homes considered to be affordable to a median-income family, based on typical financing calculations, are concentrated in Leeward Oahu, from Waianae to Makaha. However, there are “pockets of affordability” in Kalihi Valley and Liliha, as well as the occasional fixer-upper or small, older home on the Ewa Plain or in metro Honolulu.

More than half of Oahu’s resale condo inventory is considered to be affordable to the median-income family. Condo markets with greater percentages of affordable inventory include Pearl City-Aiea, Mililani, Makakilo and Leeward Oahu, as well as many in-town markets, like Salt Lake, Downtown, Makiki and Kapiolani-University. Buyers looking to secure a condo, particularly in an older building, are encouraged to work closely with a knowledgeable real estate professional who can provide insights into available financing options for condo insurance, as well as a thorough explanation of maintenance fee costs.

Key Takeaways from the January 2025 Locations Oahu Real Estate Report

New to real estate market data terms? See our glossary.

• In January 2025, the Oahu median single-family home price increased by six percent from a year ago to $1,125,000, while the median condo price increased by four percent to $525,000. 
• Sales were up over last January, with an increase of seven percent for single-family homes and five percent for condos. January home sales also increased over the previous month, defying the seasonal trend. 
• There were 775 single-family homes and 2,138 condos available for sale at the end of last month—both up from the previous month and a year ago, with an increase of 15 percent and 54 percent, respectively, from last year.
• At the end of January, there were 3.3 Months of Remaining Inventory (MRI) for single-family homes and 5.7 months for condos—nearly double last January’s condo supply. 
• Single-family homes were on the market for a median of 25 days last month, while condos were on the market for a median of 39 days. Market times for homes decreased in January, bucking the typical pattern. 
• Just 22.3 percent of single-family homes and 13.4 percent of condos sold in January were bid up over the asking price, an indicator of a softer start to the new year.

What Happened in Oahu Single-Family Home Markets in January 2025?

Market statistics can vary greatly by neighborhood, so it's important to consult a knowledgeable Realtor who has access to market-level data.

Here's a detailed breakdown of key Oahu single-family home market areas, looking at the past 12 months: 

West Honolulu Homes

West Honolulu home sales increased by 10%, with 134 homes sold compared to 122 in January 2024. The median price increased by 4% to $1,025,000, up from $985,000. DOM increased by 22% to 20 days, and the bid-up percentage increased by 21% to 35.8%. MRI increased by 7% to 3.6 months, while active listings increased by 18% to 40.

Nuuanu-Makiki Homes

Nuuanu-Makiki home sales rose by 14%, with 114 homes sold compared to 100 last year. The median price increased by 10% to $1,267,500. DOM decreased by 8% to 17 days, and the bid-up percentage increased by 10% to 29.8%. MRI decreased by 10% to 4.5 months, and active listings increased by 2% to 43.

Manoa Homes

Manoa home sales grew by 13%, with 72 homes sold compared to 64 last year. The median price increased by 11% to $1,677,500. DOM increased by 32% to 21 days, and the bid-up percentage decreased by 30% to 25.0%. MRI decreased by 37% to 2.5 months, and active listings decreased by 29% to 15.

Kaimuki Homes

Kaimuki home sales increased by 5%, with 125 homes sold compared to 119 last year. The median price increased by 8% to $1,290,000. DOM increased by 21% to 17 days, and the bid-up percentage decreased by 17% to 31.2%. MRI decreased by 12% to 2.4 months, while active listings decreased by 7% to 25.

Waialae-Kahala Homes

Waialae-Kahala home sales rose by 22%, with 88 homes sold compared to 72 last year. The median price decreased by 1% to $2,362,500. DOM decreased by 60% to 13 days, and the bid-up percentage increased by 64% to 38.6%. MRI decreased by 52% to 2.3 months, and active listings decreased by 41% to 17.

East Oahu Homes

East Oahu home sales grew by 16%, with 72 homes sold compared to 62 last year. The median price increased by 16% to $1,918,750. DOM increased by 23% to 19 days, and the bid-up percentage decreased by 41% to 27.8%. MRI increased by 23% to 5.0 months, and active listings increased by 43% to 30.

Hawaii Kai Homes

Hawaii Kai home sales decreased by 3%, with 133 homes sold compared to 137 last year. The median price increased by 9% to $1,675,000. DOM decreased by 6% to 16 days, and the bid-up percentage increased by 8% to 30.1%. MRI increased by 27% to 3.3 months, and active listings increased by 23% to 37.

Kailua Homes

Kailua home sales declined by 4%, with 231 homes sold compared to 240 last year. The median price increased by 2% to $1,675,000. DOM decreased by 13% to 14 days, and the bid-up percentage remained stable at 32.0%. MRI increased by 19% to 2.4 months, and active listings increased by 15% to 46.

Kaneohe Homes

Kaneohe home sales increased by 23%, with 213 homes sold compared to 173 last year. The median price increased by 3% to $1,240,000. DOM increased by 29% to 18 days, and the bid-up percentage decreased by 27% to 26.8%. MRI increased by 19% to 2.3 months, and active listings increased by 46% to 41.

North Shore Homes

North Shore home sales increased by 5%, with 64 homes sold compared to 61 last year. The median price increased by 4% to $1,662,500. DOM increased by 24% to 34 days, and the bid-up percentage increased by 8% to 26.6%. MRI increased by 39% to 9.0 months, and active listings increased by 45% to 48.

Leeward Homes

Leeward home sales decreased by 2%, with 242 homes sold compared to 248 last year. The median price remained stable at $674,989. DOM decreased by 10% to 36 days, and the bid-up percentage decreased by 6% to 22.7%. MRI increased by 41% to 5.7 months, and active listings increased by 37% to 114.

Ewa Homes

Ewa home sales increased by 4%, with 504 homes sold compared to 484 last year. The median price increased by 1% to $895,000. DOM decreased by 27% to 22 days, and the bid-up percentage decreased by 2% to 30.2%. MRI increased by 3% to 3.0 months, and active listings increased by 8% to 126.

Makakilo Homes

Makakilo home sales increased by 6%, with 95 homes sold compared to 90 last year. The median price increased by 2% to $1,050,000. DOM increased by 6% to 26 days, and the bid-up percentage decreased by 17% to 22.1%. MRI increased by 47% to 3.9 months, and active listings increased by 55% to 31.

Waipahu Homes

Waipahu home sales rose by 15%, with 180 homes sold compared to 156 last year. The median price increased by 4% to $960,000. DOM decreased by 30% to 16 days, and the bid-up percentage increased by 38% to 41.7%. MRI increased by 5% to 1.9 months, and active listings increased by 21% to 29.

Mililani Homes

Mililani home sales increased by 8%, with 148 homes sold compared to 137 last year. The median price increased by 1% to $1,071,250. DOM decreased by 9% to 16 days, and the bid-up percentage increased by 1% to 33.1%. MRI increased by 32% to 2.2 months, and active listings increased by 42% to 27.

Pearl City-Aiea Homes

Pearl City-Aiea home sales increased by 24%, with 235 homes sold compared to 190 last year. The median price increased by 9% to $1,075,000. DOM decreased by 18% to 14 days, and the bid-up percentage decreased by 5% to 36.2%. MRI increased by 14% to 1.6 months, and active listings increased by 41% to 31.

What Happened in Oahu Condo Markets in January 2025?

Here's a detailed breakdown of key Oahu condo market areas, looking at the past 12 months: 

Salt Lake Condos

Salt Lake condo sales decreased by 5% to 150, while the median price fell by 3% to $428,250. Days on Market (DOM) rose by 63% to 26 days, and the bid-up percentage increased by 5%. Months of Remaining Inventory (MRI) rose by 178% to 5.9 months, and active listings grew by 164% to 74 condos.

Downtown-Nuuanu Condos

Downtown-Nuuanu condo sales decreased by 2% to 259, while the median price fell by 3% to $398,000. DOM increased by 31% to 32 days, and the bid-up percentage fell by 9%. MRI rose by 104% to 5.0 months, with active listings up by 100% to 108 condos.

Ala Moana-Kakaako Condos

Ala Moana-Kakaako condo sales declined by 7% to 620, while the median price rose by 5% to $780,000. DOM increased by 53% to 49 days, and the bid-up percentage dropped by 49%. MRI rose by 51% to 9.3 months, with active listings up by 40% to 482 condos.

Makiki Condos

Makiki condo sales decreased by 2% to 274, while the median price fell by 1% to $389,500. DOM rose by 98% to 40 days, and the bid-up percentage decreased by 27%. MRI rose by 32% to 5.4 months, with active listings increasing by 29% to 123 condos.

Waikiki Condos

Waikiki condo sales decreased by 9% to 995, while the median price increased by 5% to $450,000. DOM rose by 21% to 34 days, and the bid-up percentage fell by 25%. MRI increased by 42% to 6.5 months, with active listings up by 30% to 535 condos.

Kapiolani-University Condos

Kapiolani-University condo sales remained stable at 228, while the median price decreased by 1% to $410,000. DOM increased by 59% to 27 days, and the bid-up percentage dropped by 14%. MRI rose by 37% to 5.6 months, with active listings up by 37% to 107 condos.

Diamond Head-Kahala Condos

Diamond Head-Kahala condo sales increased by 22% to 112, while the median price decreased by 3% to $658,000. DOM increased by 14% to 17 days, and the bid-up percentage fell by 18%. MRI rose by 36% to 5.7 months, with active listings increasing by 66% to 53 condos.

Hawaii Kai Condos

Hawaii Kai condo sales increased by 1% to 144, while the median price fell by 4% to $814,500. DOM decreased by 14% to 18 days, and the bid-up percentage increased by 6%. MRI rose by 125% to 4.9 months, with active listings up by 127% to 59 condos.

Kailua Condos

Kailua condo sales decreased by 2% to 96, while the median price rose by 10% to $835,000. DOM increased by 30% to 20 days, and the bid-up percentage fell by 45%. MRI increased by 34% to 2.6 months, with active listings up by 31% to 21 condos.

Kaneohe Condos

Kaneohe condo sales increased by 21% to 165, while the median price rose by 1% to $690,000. DOM remained stable at 15 days, and the bid-up percentage fell by 16%. MRI rose by 62% to 3.6 months, with active listings up by 96% to 49 condos.

Leeward Condos

Leeward condo sales decreased by 5% to 144, while the median price fell by 4% to $241,250. DOM increased by 52% to 46 days, and the bid-up percentage dropped by 57%. MRI rose by 86% to 7.8 months, with active listings up by 77% to 94 condos.

Ewa Condos

Ewa condo sales decreased by 8% to 346, while the median price increased by 1% to $685,000. DOM increased by 65% to 28 days, and the bid-up percentage remained unchanged. MRI rose by 102% to 4.4 months, with active listings up by 86% to 128 condos.

Makakilo Condos

Makakilo condo sales fell by 7% to 98, while the median price increased by 2% to $562,500. DOM rose by 33% to 28 days, and the bid-up percentage decreased by 27%. MRI rose by 129% to 3.9 months, with active listings up by 113% to 32 condos.

Waipahu Condos

Waipahu condo sales decreased by 8% to 143, while the median price remained unchanged at $500,000. DOM decreased by 17% to 15 days, and the bid-up percentage fell by 22%. MRI rose by 292% to 3.9 months, with active listings up by 262% to 47 condos.

Mililani Condos

Mililani condo sales increased by 2% to 298, while the median price rose by 1% to $515,000. DOM increased by 57% to 24 days, and the bid-up percentage fell by 26%. MRI rose by 55% to 2.7 months, with active listings up by 58% to 68 condos.

Pearl City-Aiea Condos

Pearl City-Aiea condo sales increased by 9% to 269, while the median price rose by 4% to $480,000. DOM increased by 56% to 25 days, and the bid-up percentage fell by 27%. MRI rose by 79% to 4.6 months, with active listings up by 96% to 104 condos.

Summary

Because real estate market conditions can vary greatly among Oahu market areas, it's important for buyers and sellers to partner with a Realtor who has access to detailed, neighborhood-level data.

Glossary

• Active Listings: Count of MLS listings with "Active" status on the last day of the period. 
• Bid-Up %: The percent of sales that were bid-up over asking price in competitive offers. 
• Days on Market (DOM): Median number of days between listing date and escrow date, for all properties sold in the period. 
• Months of Remaining Inventory (MRI): The number of months it would take to sell out the current active inventory at the recent rate of sales. A balance point between supply and demand is considered to be around 6 months, so MRI below 6 months indicates more of a sellers market and MRI above 6 months indicates more of a buyers market.

Back to top