Oahu Real Estate Market Insights May 2025 Report
Oahu Real Estate Market Insights May 2025 Report
Table of Contents
- Quick Facts
- Oahu Real Estate Market Update
- Overview of the Market
- Single-Family Homes
- Condos
- What’s Behind the Slowdown?
- What’s Next for the Market?
Quick Facts
- 235 single-family home sales in May 2025, a 5.6% drop compared to the same period last year
- 374 condo sales in May 2025, a 21.8% drop compared to the same period last year
- Median sales price for single-family homes was $1,175,000 in May 2025, an 8.3% increase compared to this time last year
- Median sales price for condos in May 2025 was $500,000, a 1.0% increase compared to one year ago
Oahu Real Estate Market Update: May 2025
The Honolulu Board of REALTORS recently reported that the O‘ahu real estate market has slowed down, with both single-family homes and condos experiencing a decline in sales. In this blog post, we’ll dive deeper into the latest market trends and provide insight into what this means for buyers and sellers.
Overview of the Market
According to the Honolulu Board of REALTORS, overall sales have slowed for both single-family homes and condos on O‘ahu. In May 2025, single-family home sales dipped 5.6% year-over-year, with 235 sales, while condo sales fell 21.8%, with 374 units sold.
Single-Family Homes
Single-family home sales have seen a significant decline, with 235 sales in May 2025, a 5.6% drop compared to the same period last year. However, homes spent a median of 21 days on the market in May, which is eight days less than the previous month. This suggests that buyers are still actively entering the market, but at a slower pace.
The median sales price for single-family homes was $1,175,000 in May 2025, representing an increase of 8.3% when compared to this time last year. This growth can be attributed to the ongoing demand for housing, despite the slower sales pace.
Condos
Condo sales have also seen a decline, with 374 units sold in May 2025, a 21.8% drop compared to the same period last year. The median number of days on the market for condos was 39 days last month, which is a relatively slow sales pace.
The median sales price for condos in May 2025 was $500,000, representing an increase of 1.0% when compared to one year ago. This moderate growth can be attributed to the ongoing demand for condominium living, particularly in popular neighborhoods and communities.
What’s Behind the Slowdown?
So, what’s driving the slowdown in the O‘ahu real estate market? According to Trevor Benn, President of the Honolulu Board of REALTORS, the market is seeing an increasingly price-conscious and value-driven buyer mindset. Higher borrowing costs, inflation, and rising carrying costs like maintenance fees are contributing to longer decision cycles.
REALTORS remain key partners in helping buyers and sellers stay informed and adapt to changing market dynamics. By working closely with their clients, REALTORS can help navigate the current market and make informed decisions.
What’s Next for the Market?
As we move forward, it’s likely that the O‘ahu real estate market will continue to experience fluctuations. However, with the right strategy and guidance from a experienced REALTOR, buyers and sellers can stay ahead of the curve.
At Luva Real Estate, we’re committed to providing our clients with the latest market insights and expert advice. Whether you’re looking to buy or sell a property, we’re here to help you achieve your goals.
For a comprehensive look at the O‘ahu real estate market, be sure to check out our latest report. You can also read more about our agency and the services we offer on our blog.
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