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 roughly half of what’s for sale is priced under $500,000.

That sounds like an easy call, but Oahu condos come with their own traps: maintenance fees that can rival a mortgage payment, aging towers facing fire-safety upgrades, rental rules that rule out most Airbnb plans, and a wave of new towers in Kakaako and Ala Moana competing for the same buyers.

This guide covers what the market looks like right now, what’s being built, what a condo really costs to own each month, and what to check before you make an offer.

The market right now

The Oahu condo median was $523,000 in September 2026, up 2.8% from a year earlier, while sales fell 8.1%. That’s the pattern all year: prices flat to slightly up, fewer sales, more choice.

For comparison, the single-family median was $1,110,000 the same month. On Oahu, a condo is usually the only realistic way to own for under about $1 million.

What it means for 2027: with inventory up and many buyers priced out by mortgage rates near 7%, condo buyers have room to negotiate on most listings. Well-priced units in good buildings still move, and some get multiple offers, so “buyer’s market” depends heavily on the building.

New construction: the 3,800-unit wave

You may have heard that about 3,800 new condos are coming to Oahu. We couldn’t find one official source for that exact number, but it roughly checks out: the major towers under construction or just finishing in urban Honolulu add up to about 3,700 units.

More are lined up behind them: Waiakoa (1,032 units) and Kahuina (859) in Our Kakaako, Muse Honolulu (331) near Ala Moana, and Mahana, expected to be Ward Village’s final tower. Most of these are in approval, pre-sales, or early construction, so they’re more of a 2028-and-later story.

What the new supply means for buyers

• More competition for resale sellers in Kakaako and Ala Moana. When a new tower delivers, some buyers who purchased years ago resell right away. That can add listings in specific buildings and neighborhoods.
• New isn’t cheap. Market-rate units in the luxury towers mostly start above $1 million. The affordable and moderate-priced units (in Kuilei Place, for example) come with income limits, owner-occupancy rules, and resale restrictions. Read those terms carefully.
• Older buildings will feel the pressure. A 1970s tower with high fees and pending fire-safety work competes directly with brand-new buildings nearby. That’s often where the best negotiating room is.
• Buying pre-construction is a long wait. You typically put down deposits years before move-in, and delivery dates often slip.

The real monthly cost

On Oahu, the price tag is only half the story. Maintenance fees, insurance, and building repairs can turn a “cheap” condo into an expensive one.

Maintenance fees

Depending on how you measure, a typical Oahu condo fee is somewhere between about $500 and over $1,000 a month. One countywide estimate puts the median at $526. Listings advertised in early 2026 had a median closer to $882. Honolulu Board of Realtors data put the average fee on condos that actually sold in February 2026 at $1,051.

Fees often cover water, sewer, some insurance, staff, and reserves, and sometimes cable, internet, or even electricity. Compare buildings on what’s included, not just the number. A $900 fee that includes utilities can beat a $650 fee that doesn’t.

Insurance

The building’s master policy is paid through your fees, and premiums for Hawaii condo associations have climbed sharply in recent years. Older towers without fire sprinklers have been hit hardest. You’ll also want your own HO-6 policy for your unit’s interior, belongings, and liability, plus loss assessment coverage in case the association passes a big deductible on to owners.

Special assessments and big repairs

Many Oahu high-rises date to the 1960s and 70s. Common big-ticket items include plumbing replacement, concrete spalling repair, elevator modernization, roof work, and window replacement. If reserves are thin, owners pay through a special assessment or a loan that raises fees for years. The reserve study tells you how well-funded the building is.

Fire safety rules for older high-rises

After the 2017 Marco Polo fire, Honolulu required older residential high-rises without sprinklers to either install them or pass a fire and life safety evaluation. Under the law as it stood in 2024, buildings had until 2030 to pass the evaluation or until 2038 to install sprinklers. The City Council has repeatedly considered extending those deadlines, and the Honolulu Fire Department has counted hundreds of high-rises that still lack sprinklers. For any pre-1975 tower, ask the association where it stands and what it’s expected to cost.

Property tax

If you live in the condo as your primary home, file for the homeowner exemption with the city right away. It lowers your assessed value and keeps you in the lowest rate class. Second homes and rentals are taxed at higher rates, so investors should build that into their numbers.

Rules that decide what you can do with it

Renting it out

If you’re buying with Airbnb in mind, stop here first. Across most of Oahu, renting for less than 30 days is illegal. Legal nightly rentals are largely limited to resort-zoned areas, such as parts of Waikiki, Ko Olina, and Turtle Bay, plus a limited number of grandfathered, registered units.

Honolulu’s 2022 ordinance also raised the minimum stay outside those areas to 90 days. A federal court permanently blocked that 90-day rule only for rentals that were already operating at 30 to 89 days before the ordinance took effect. For most buyers today, the realistic plan outside resort zones is a lease of 90 days or longer.

On top of city rules, many buildings have their own house rules that restrict rentals further, require minimum lease lengths, or cap the number of rented units. Read them before you write an offer.

Fee simple vs. leasehold

Most Oahu condos are fee simple, meaning you own your unit and a share of the land. Some, especially older buildings in Waikiki and parts of Honolulu, are leasehold: you own the unit, but the land under it is leased, and the lease eventually ends. Leasehold units are cheaper for a reason. Know the lease end date, the lease rent, and whether there’s a path to buy the land before you commit.

Financing: is the building approved?

Not every condo qualifies for every loan. FHA and VA loans require the building to be on an approved list. Conventional lenders look at things like the share of units that are rented out, any litigation against the association, the condition of the building, and how well-funded the reserves are.

Buildings that don’t meet those standards are called non-warrantable, and they usually need a portfolio loan with a bigger down payment and a higher rate. Condotels often fall into this group. If you need FHA or VA financing, which is common with Oahu’s large military population, check the building’s approval status first.

Affordable and reserved housing units

Many new towers include affordable or reserved housing units priced below market. These typically come with income limits, a requirement that you live in the unit, and restrictions on resale price or timing, sometimes for years. They can be a great deal for local buyers who qualify, but they’re not investment properties.

Neighborhoods: where the condos are

Most of Oahu’s condos sit in urban Honolulu, with a second cluster on the west side. Here’s a quick map of who each area tends to suit.

Due diligence checklist

Before you make an offer, or during your review period once you’re in contract:

• Confirm fee simple or leasehold, and if leasehold, the lease end date and lease rent
• Get the current maintenance fee and exactly what it covers
• Read the latest reserve study and budget
• Read the last 12 months of board meeting minutes, looking for repairs, assessments, and disputes
• Ask about pending or planned special assessments and association loans
• Find out the building’s fire-safety status: sprinklers, life safety evaluation, and expected costs
• Get the master insurance policy details, including the deductible
• Read the house rules on rentals, minimum lease length, pets, and renovations
• Confirm the zoning and whether your rental plan is legal
• Check FHA, VA, or conventional loan eligibility for the building
• Ask about pending litigation involving the association
• Get a unit inspection, including plumbing, windows, and AC
• For affordable or reserved units, read every restriction on use and resale

FAQ

What’s the median condo price on Oahu? $523,000 in September 2026. The median for the first nine months of 2026 was $515,000.

Are 3,800 new condos really being built on Oahu? Roughly, yes. The major towers under construction or just finishing in urban Honolulu add up to about 3,700 units, with more planned behind them.

Is 2027 a good time to buy an Oahu condo? It’s more of a buyer’s market than the single-family side, with more inventory and flat prices. Whether it’s a good time for you depends on the building and how long you plan to stay.

Can I Airbnb my Oahu condo? Usually not. Rentals under 30 days are illegal in most of Oahu, and outside resort zones the city’s minimum is generally 90 days. Resort areas like parts of Waikiki, Ko Olina, and Turtle Bay are the main exceptions.

How much are HOA fees on Oahu? Typically somewhere between about $500 and over $1,000 a month, depending on the building’s age, amenities, and what the fee includes.

Should I worry about buildings without fire sprinklers? Ask. Older towers have to meet Honolulu’s fire-safety requirements, which can mean big costs and higher insurance. It doesn’t rule a building out, but it should be part of the price.

Thinking about buying a condo on Oahu?

We can help you compare buildings, dig into fees and reserves, and find the right fit for how you plan to use it. Start your search here.

Sources

• Oahu single-family home price weakened in September, Honolulu Star-Advertiser
• Oahu Real Estate Market Report, September 2026, courtesy of the Honolulu Board of Realtors
• Honolulu condos got cheaper; the real price went up, Life on Oahu
• Kakaako executive director report, June 2026, Hawaii Community Development Authority
• New Honolulu condos 2026, Dwell Hawaii
• Six new Honolulu condo projects, Locations
• Ward Village final phase, Honolulu Star-Advertiser via HCDA
• Honolulu fire sprinkler law, Honolulu Star-Advertiser
• Existing short-term rentals may remain, judge rules, VRMA

This guide reflects publicly available information as of October 2026 and is general information, not legal, tax, or financial advice. Building rules, fees, and city ordinances change; verify details for any specific property before buying.