Oahu market pulse
Is it a buyer's or seller's market right now? Here's the data, updated monthly.
As of September 2026
Buyer's market vs. seller's market
It comes down to who has more leverage before negotiations start. In a seller's market, homes are scarce and sell fast, so sellers can hold firm on price and terms. In a buyer's market, there are more homes than buyers, so buyers have room to negotiate on price, repairs, and credits. In a balanced market, neither side has a clear edge and the details of each home matter most.
What this means for you
Single-family homes
SELLER'S MARKETBuyers
Good homes move fast. Get fully pre-approved, see new listings early, and write a clean, strong offer. Know your walk away number.
Sellers
Demand is on your side. Price with the market, not above it, and you can expect strong offers with fewer concessions.
Condos
BUYER'S MARKETBuyers
You have room to negotiate. With more inventory and homes sitting longer, ask for price reductions, seller credits, or repairs. For condos, review HOA fees, reserves, and any special assessments before you commit.
Sellers
Buyers have options right now. Price sharply from day one, present your home well, and have your HOA documents ready. Expect to offer credits or flexibility on terms.
Rates
Rates drive how many buyers can qualify. The gauge itself is based on supply and demand data, not rates.
Median prices by area
September 2026 monthly resales, single-family homes and condos reported separately.
| Area | SFH median | Condo median |
|---|---|---|
| Ala Moana - Kakaako | Not reported 0 sales | $840,000 63 sales |
| Ewa Plain | $984,444 52 sales | $555,000 27 sales |
| Hawaii Kai | $1,812,500 8 sales | $782,500 10 sales |
| Kailua - Waimanalo | $1,659,000 29 sales | $750,000 7 sales |
| Kaneohe | $1,300,000 22 sales | $747,000 12 sales |
| Makaha - Nanakuli | $625,000 23 sales | $169,500 16 sales |
| Makakilo | $1,030,000 13 sales | $509,500 8 sales |
| Mililani | $1,100,000 13 sales | $535,000 25 sales |
| Moanalua - Salt Lake | $1,257,500 6 sales | $419,000 13 sales |
| North Shore | $3,700,000 3 sales | $1,047,500 4 sales |
| Pearl City - Aiea | $1,110,000 24 sales | $420,000 28 sales |
| Wahiawa | $753,500 8 sales | Not reported 0 sales |
| Waialae - Kahala | $2,632,700 9 sales | $856,500 2 sales |
| Waikiki | Not reported 0 sales | $505,000 60 sales |
| Waipahu | $949,500 23 sales | $500,125 18 sales |
Each area name opens its community guide. Monthly medians move a lot when only a few homes sell. Source: Honolulu Board of REALTORS® / HiCentral MLS, pp. 2–3. The link opens the latest report; figures shown are the September 2026 snapshot.
Source: Honolulu Board of REALTORS®, Oahu Islandwide, September 2026, compiled from HiCentral MLS (sale-to-list is percent of original list price received). Rates: Freddie Mac Primary Mortgage Market Survey monthly average.
How this works
Each gauge scores the month from 0 (strong buyer's market) to 100 (strong seller's market). Months of supply counts for half, median days on market and sale-to-list price for 20% each, and median price change over the year for 10%. Each number is placed on a 0 to 100 scale between fixed reference points. If months of supply is not reported directly, we use active listings divided by closed sales.
Frequently asked questions
What is months of supply?
It is how long it would take to sell every home currently for sale if no new listings came on, at the current pace of sales. Under 4 months usually favors sellers, 4 to 6 is balanced, and over 6 favors buyers.
Why are condos and houses different?
They are different markets with different buyers. Condos carry HOA fees, special assessments and lender approval rules, and Oahu has many more of them, so condo supply often runs higher and prices move differently than single-family homes.
How often is this updated?
Monthly, after the Honolulu Board of REALTORS® releases its numbers for the prior month. Our weekly take and featured deal are updated more often.
Do interest rates decide if it's a buyer's market?
No. Rates change how many buyers can afford to buy, which shows up later in the supply and sales numbers. The gauge itself uses supply, days on market, sale-to-list price and price change, not rates.
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