O'ahu Market Stats

O'ahu Condominiums vs. Single-Family Homes

“As market activity continues to slow with the rise in interest rates, it’s important for buyers to remember that homeownership is still possible,” said the President of the Honolulu Board of REALTORS®. “More than 250 properties on O‘ahu, most of which were condos, sold for under $500,000 last month.”

Oahu Condo August
Oahu SF Homes August

Nearly half – 48.7% – of single-family home sales closed below the original asking price compared to 22.8% a year ago. By the end of August, 13% of the newly listed properties had undergone a price reduction, compared to 4% in August 2021. Of the total active inventory at the end of the month, 38% of single-family homes had experienced a price reduction at some point since being listed, compared to 19% of the active inventory one year ago. The Ewa Plain region accounted for the most price reductions at 23%, followed by the Diamond Head region at 12%, the Metro region at 11%, and the Kailua region at 10%.In the condo market, price reductions were not as frequent as in the single-family home market, with 8% of newly listed condos undergoing a price reduction by the end of the month compared to 3% last August. Of the active inventory, 34% had experienced a price reduction at some point compared to 21% of active inventory in August 2021.

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