August 2026 O‘ahu Real Estate Update: Home Prices Rise While Condo Buyers Gain Options

As summer winds down and Hawai‘i families settle into the back-to-school season, the O‘ahu real estate market continues to send mixed signals. Single-family homes remained competitive in August, while the condo market offered buyers more inventory and greater negotiating room. Here’s my breakdown of last month’s market!

August 2026 Market Highlights

• Single-family home sales increased slightly. A total of 264 homes closed in August, up 1.9% from the same month last year. Year-to-date sales reached 1,950, which was 5.9% higher than the same period in 2025.
• The single-family home median price rose to $1,240,000. That represented a 12.2% increase from $1,105,500 in August 2025. However, the year-to-date median of $1,190,000 was up a more moderate 4.4%, which suggests that one month should not be viewed as the full market trend.
• Homes continued to move quickly. Single-family homes spent a median of 17 days on the market, compared with 22 days a year ago. Sellers also received an average of 100% of their original asking price.
• Condo sales slowed. There were 365 condo sales in August, down 6.6% from August 2025. Year-to-date condo sales were down 1.6%.
• The condo median price remained relatively steady. The August median was $510,000, down 1.0% from a year earlier. However, the year-to-date condo median was $512,000, up 1.4%.
• Condo buyers had more choices. Active condo inventory increased 4.1% to 2,512 listings, while the market carried a 6.9-month supply. By comparison, single-family home inventory was nearly unchanged at 794 listings, with a 3.2-month supply.
• More properties were listed during the month. New listings increased 14.5% for single-family homes and 6.4% for condos compared with August 2025.
• There were still opportunities at lower price points. Buyers closed on 183 properties priced at $500,000 or below during August. Condo sales accounted for most of that activity, with 176 condo transactions below $500,000.

What Do the Numbers Mean?

My overall takeaway is that O‘ahu is not moving as one uniform real estate market.

For single-family home sellers, August was encouraging. Homes sold faster than they did a year ago, and the average seller received the full original asking price. That does not mean every property will attract multiple offers, but it reinforces the importance of pricing and presentation. Buyers appear willing to act quickly when a home is positioned well for its neighborhood and condition.

For buyers looking at single-family homes, preparation remains important. With 3.2 months of available inventory and a median market time of only 17 days, desirable homes can still move quickly. Having financing, priorities, and offer terms organized in advance can make the process more manageable.

The condo market tells a different story. Buyers generally have more properties to compare, and condo sellers received an average of 97.1% of their original asking price. Only 10% of August condo transactions closed above the original asking price. In my opinion, that gives condo buyers more room to evaluate pricing, monthly fees, building condition, insurance considerations, and future maintenance before making a decision.

For condo sellers, increased inventory makes it especially important to understand the competition within the same building and nearby neighborhoods. A realistic price, strong presentation, and clear information about the property can help a listing stand out.

Pending sales also deserve attention. They declined 7.6% for single-family homes and 3.2% for condos compared with last August. Since pending sales reflect properties that entered contract, the slower year-over-year activity is worth watching as we move into the fall market.

A Market That Rewards Local Perspective

The August numbers show continued strength in the single-family home market and more flexibility in the condo market. They also remind us that price range, property type, condition, and neighborhood can matter more than any news headline.

Whether you are considering a single-family home out Leeward, comparing condos in town, or preparing to sell elsewhere on O‘ahu, the best strategy begins with understanding the market surrounding your specific property. This market rewards preparation, and I’m happy to help with that if you need!

Happy House Hunting,

Source: 08-2026-Aug-A-MSR, Honolulu Board of REALTORS®, residential resale data compiled from HiCentral MLS, Ltd. Information is deemed reliable but not guaranteed.