Oahu Condo Buying Guide 2027
Oahu’s condo market heads into 2027 as the buyer-friendlier half of the island’s real estate. Single-family prices keep setting records, while condo prices have barely moved, inventory is up, and…
Oahu Real Estate
Oahu
real estate
High-rise condos in Honolulu, beach towns on the Windward side, planned communities in Central Oahu and on the Ewa Plain, and the North Shore. Oahu is Hawaii’s biggest and fastest-moving market. Here’s what things cost and the rules worth knowing before you buy.
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Single-family median
$1.11M
September 2026, down 3.9% from a year earlier
Condo median
$523K
September 2026, up 2.8%
Days on market
16 / 41
Median for homes / condos
Sold over asking
31%
Share of home sales above original list price
Honolulu Board of Realtors and Title Guaranty, September 2026. Year to date, the single-family median is $1,180,000 and the condo median is $515,000.
Oahu at a glance
Single-family homes on Oahu are selling fast: the median home sold after just 16 days on the market in September, and 31% sold above their original asking price. Condos are slower and inventory is up about 8% from a year ago, which gives buyers more room to negotiate. About 39% of single-family sales were under $1 million, and 47% of condo sales were at or under $500,000.
Oahu’s regions
Medians by area for the first quarter of 2026. Most condo sales happen in the urban core: Waikiki, Ala Moana, Kakaako and downtown Honolulu.
| Region | Area | Single-family median | Condo median |
|---|---|---|---|
| Windward | Kailua-Waimanalo | $1,825,000 | $755,000 (Kailua) |
| Windward | Kaneohe | $1,350,000 | $695,000 |
| East Honolulu | Hawaii Kai | $1,650,000 | $1,010,000 |
| Honolulu | Kapahulu-Diamond Head | $1,369,750 | — |
| North Shore | North Shore | $1,525,000 | — |
| Central | Mililani | $1,125,000 | $555,000 |
| Central / Pearl Harbor | Pearl City-Aiea | $1,239,000 | — |
| Leeward | Ewa Plain | $950,000 | $533,500 |
| Leeward | Makakilo | $955,000 | $520,000 |
| Leeward | Waipahu | $941,250 | — |
| Leeward | Waianae coast | $598,750 | $295,000 |
Vacation rental rules
Rentals of less than 30 days are legal on Oahu only in resort-zoned areas, such as Waikiki, Ko Olina and Turtle Bay, or with a nonconforming use certificate. Outside those areas, a 2022 city ordinance raised the minimum rental period to 90 days. A federal judge ruled in December 2023 that rentals of 30 to 89 days that already existed before the ordinance can keep operating, but the 90-day minimum applies to new ones. Fines can run up to $10,000 a day.
If rental income matters to you, confirm the zoning and the building’s own rules before you make an offer. Condo associations can set their own rental rules too.
Leasehold condos
Some Oahu condos are leasehold: you own the unit but lease the land under it, and pay lease rent on top of the mortgage, maintenance fees, tax and insurance. It’s most common in Waikiki and older Honolulu buildings. Lease rent is usually fixed for 20 to 30 years and then renegotiated, sometimes sharply higher, and at the end of the lease the land can go back to the owner. Lenders generally want the lease to run at least five years past the loan, and VA loans need 14. Leasehold units sell for less for good reason, so read the lease before you fall for the price.
Property taxes
| Use | Rate per $1,000 |
|---|---|
| Owner-occupied (Residential) | $3.50 |
| Second home / non-owner-occupied (Residential A) | $4.00 on the first $1M; $11.40 above |
| Vacation rental | $9.00 on the first $800K; $11.50 above |
| Bed and breakfast home | $6.50 |
Owner-occupants get a $120,000 home exemption ($160,000 at 65 and older). File by Sept. 30. The city has approved raising these to $140,000 and $180,000 starting July 2027.
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Sources
- Oahu monthly market report, September 2026, Honolulu Board of Realtors
- Statewide housing statistics, September 2026, Title Guaranty
- Oahu stats, first quarter 2026, Fidelity National Title & Escrow of Hawaii
- Coverage of Honolulu’s 90-day rental ordinance, Honolulu Star-Advertiser, Oct. 21, 2022
- Existing short-term Hawaii rentals may remain in operation, judge rules, Courthouse News via Hawaii Free Press, Dec. 2023
- Leasehold vs. fee simple properties, Title Guaranty, rev. Oct. 2025
- Real property tax rates, July 1, 2026 to June 30, 2027 (all counties), City & County of Honolulu, Real Property Assessment Division
- Oahu homeowners to see property tax relief starting in 2027, Locations Hawaii, Sept. 8, 2025
General information as of October 2026, not legal or tax advice. Zoning, rental rules and tax classifications change; confirm them for a specific property with the City and County of Honolulu before you buy.
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