As we move into the final months of the year, Oʻahu’s housing market continues to tell an interesting story. September brought a mix of encouraging trends and ongoing challenges, especially when comparing the single-family home and condo markets. While buyers continue to navigate affordability concerns and interest rate uncertainty, many neighborhoods across Oʻahu are still seeing steady activity and healthy competition.
Here’s a quick recap of what happened in September and what it could mean for you.
Key September 2026 Market Highlights
- Single-family home sales increased 6.2% year-over-year, rising to 293 closed sales.
- Condo sales declined 8.1%, with 375 transactions closing during the month.
- Single-family home median price decreased 3.9% to $1,110,000, while the condo median price increased 2.8% to $523,000.
- Single-family homes sold much faster, with a median of just 16 days on market, compared to 26 days a year ago.
- 31% of home sales closed above asking price, showing continued buyer competition for desirable properties.
- Condo inventory increased 7.8% year-over-year, reaching 2,509 active listings.
- Nearly half of all active condo listings were priced under $500,000, providing options for entry-level buyers and investors.
- Year-to-date, single-family home sales are up 5.9%, while condo sales remain down 2.4%.
What the Numbers Mean
One of the most encouraging signs this month is that the single-family home market remains surprisingly resilient. Despite affordability challenges, buyers are still actively competing for well-priced homes, particularly in the under-$1 million price ranges. Sales between $900,000 and $999,999 jumped more than 60% compared to last September.
The decline in the median single-family home price shouldn’t necessarily be viewed as a weakening market. Market statistics often shift based on the types of homes being sold each month and, when combined with faster selling times and more homes receiving above-asking-price offers, the overall picture still points to healthy buyer demand.
The condo market tells a different story. While prices continue to hold steady and even rise modestly, pending sales dropped significantly compared to last year. More inventory and slower contract activity suggest buyers have more negotiating power than they did during the highly competitive market conditions of recent years, but the rise in median price hopefully means better returns for Sellers on the horizon.
For buyers shopping in areas such as Honolulu, Kakaʻako, Kapolei, Ewa Beach, Mililani, Hawaiʻi Kai, or Waipahu, the condo market may present some opportunities heading into the holiday season. Increased inventory typically means more choices and potentially greater flexibility when negotiating terms.
For sellers, proper pricing remains critical. Homes that are well-prepared and accurately positioned continue to attract strong interest, particularly in the single-family market where inventory remains relatively limited at 3.2 months of supply. As an example, I have a single-family home in Mānoa that received 9 offers and greatly credit the multiple offers to being well-priced.
Looking Ahead
As we enter the fourth quarter, we’re seeing a market that remains balanced but highly-segmented. Single-family homes continue to benefit from strong demand, while condos are offering buyers more options and less competition.
The market isn’t stalling. Instead, it’s adjusting to changing conditions and finding a new balance between buyer demand, available inventory, and affordability.
Whether you’re thinking about buying, selling, investing, or simply staying informed, understanding these local trends can help you make more confident real estate decisions.
Want to talk about what this means for your real estate plans? Feel free to reach out. Happy House Hunting!
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