February always feels like a transition month here in Hawai‘i. The holiday slowdown is firmly behind us, spring break travel is picking up, and buyers and sellers are starting to re‑engage with the market. This year, the numbers tell a familiar but important story: “the O‘ahu market remains steady, competitive in certain price ranges, and very neighborhood‑specific.
Here’s a clear breakdown of what happened in February and what it means if you’re thinking about making a move this year.
Key February Market Stats (With Context)
- Single-family home sales increased 6% year-over-year, with 177 homes sold.
This tells us high buyer demand is still there, especially for well-priced homes. - Condo sales were essentially flat, down just 0.7% compared to last February.
Condos are taking a bit longer to move, giving buyers more breathing room. - Median single-family home price: $1,205,000, up 1.7% year-over-year.
Prices aren’t skyrocketing, they’re rising gradually, which is a healthy sign. - Median condo price: $500,000, up 1.2% year-over-year.
Condos remain one of the most accessible entry points into the O‘ahu market. - Single-family homes spent a median of just 17 days on market, down from 23 days last year.
Homes are still moving quickly, especially under $1M in areas like Ewa, Waipahu, and parts of Central O‘ahu. - Condos spent 56 days on market, up from 48 days last year.
This is where buyers may find more negotiating power. - Single-family inventory dropped 7.6% year-over-year, while condo inventory rose 5.4%.
Two very different markets depending on what you’re shopping for. - 25% of single-family homes sold above asking price, compared to 10% of condos.
Competition is still real, but selective.
What This Means for Buyers
If you’re shopping for a single-family home, preparation is key. Homes that are priced right and located in high-demand neighborhoods are still selling fast (sometimes with multiple offers). Having financing lined up and being ready to act matters.
For condo buyers, this market is quietly improving your position. More inventory and longer days on market mean you may have room to negotiate especially in the $300,000–$600,000 range, which still represents the bulk of activity.
What This Means for Sellers
Single-family sellers continue to benefit from tight inventory, particularly under $1 million. If your home is well-presented and priced realistically, buyer interest is still VERY strong.
Condo sellers should expect a more thoughtful market. Pricing and presentation matter more than ever, and buyers are comparing options closely. Strategic pricing, not chasing last year’s peak, is the difference between selling and sitting.
My Take on the Bigger Picture
This isn’t a market of extremes. We’re seeing balance! Buyers are active, sellers are realistic, and prices are moving gradually instead of dramatically. That’s often when the smartest decisions get made.
As we move into spring, I expect steady activity — especially as families plan around school calendars and mainland buyers start looking ahead to summer moves.
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