Is Now a Good Time to Buy a Home on Oahu?
If you've been watching the Oahu real estate market and wondering whether to make your move, you're not alone. I talk to buyers every week who feel caught between the fear of overpaying and the fear of waiting too long. The honest answer right now? It depends on what you're buying. And the data makes that case clearly.
Here's a full breakdown of where the Oahu market stands as we head into summer 2026, what it means for you as a buyer, and how to position yourself to win.
The Big Picture: Oahu's Split Market
The Oahu real estate market in 2026 is not one story. It's two.
Single-family home sales on Oahu rose 19% year-over-year in December 2025, with condo sales also up 8%. There were 691 single-family homes and 2,254 condos listed for sale at the end of December 2025. Home inventory is now five percent lower than last year.
Oahu home Days on Market is down 32% to 13 days, while condo Days on Market is up 14% to 42 days from last year.
At the end of December 2025, Months of Remaining Inventory was 2.9 months for homes, a decrease of 8% from a year ago.
Anything under 3 months is a strong seller's market.
For buyers with available cash or strong financing, today's condo market may present some of the best opportunities seen in years. Higher inventory levels, longer marketing times, and reduced competition create favorable conditions for negotiation.
The bottom line: if you want a single-family home, you need to move with urgency and a clear strategy. If you're open to a condo or townhome, you may be sitting in one of the best buyer's windows Oahu has offered in years.
What Mortgage Rates Look Like Right Now
Rates are not what they were at the peak.
As of June 4, 2026, current 30-year fixed mortgage rates in Hawaii are 6.49%, while current 15-year fixed mortgage rates in Hawaii are 5.875%.
As of late June 2026, current interest rates in Hawaii are 6.63% for a 30-year fixed mortgage and 6.08% for a 15-year fixed mortgage. After a brief downward trend in early 2026, mortgage rates have rebounded slightly and now hover around 6.50%.
At close to 6%, mortgage rates are a full point lower than the January 2025 average.
On a $700,000 loan, that one-point difference translates to roughly $450 less per month.
A majority of experts expect rates to continue climbing slowly as the Federal Funds rate holds steady for the third time in 2026.
The window for rates in the mid-to-low 6% range may not last.
Ready to understand what you can actually afford on Oahu right now? Download the free Mai Homes Buyer's Guide at maihomeshi.com/download-buyers-guide for a breakdown of loan types, down payment options, and what to expect at each price point.
Neighborhood-by-Neighborhood Snapshot
Not every part of Oahu is behaving the same way. Here's what the data shows across key areas.
East Oahu
East Oahu home sales increased 11% to 80 homes in January 2026. The median price was flat at $1,925,000. The bid-up percentage jumped 49% to 41.3%, and MRI declined 43% to 2.9 months.
If you're shopping here, you need your pre-approval in hand and a clear offer strategy before you even book a showing.
Kakaako and Ala Moana
The Kakaako condo corridor, anchored by Ward Village, is where you'll find the most negotiating leverage right now. With condo inventory elevated and market times stretching past 40 days in many segments, motivated sellers are making concessions.
New construction towers continue to deliver units into this market, keeping supply healthy. For buyers who want walkability, proximity to downtown Honolulu, and modern amenities, Kakaako is worth a serious look.
Ewa Beach and Kapolei
If your budget is closer to the $500,000 to $800,000 range, Ewa Beach and Kapolei remain the most accessible entry points for Oahu homeownership.
D.R. Horton's spring 2026 phases brought new single-family and townhome lotteries to Ewa Beach, with attainable releases starting around $487,000.
Homes priced at $500,000 and below accounted for 146 year-to-date sales in January, with more than 60% of single-family homes in January sold between $800,000 to $1,399,999.
The commute to urban Honolulu is a real consideration, but the value proposition remains strong.
Kailua and Kaneohe
The Windward side continues to attract buyers who prioritize livability over commute time. These communities offer a genuinely different pace of life, and with limited inventory, well-priced homes here move fast. If you're targeting Kailua or Kaneohe, expect competition on move-in-ready properties and be prepared to act within 24 to 48 hours of a listing going live.
Mililani and Pearl City
Central Oahu neighborhoods like Mililani and Pearl City offer some of the best value for families seeking good schools, established infrastructure, and access to both the freeway and the H-2. These areas have historically been more insulated from the extreme volatility seen in coastal markets, making them a steady choice for buyers who plan to stay for five or more years.
Want to dig into current active listings in any of these neighborhoods? Let's set up a search together. Book a free consultation at calendar.app.google/XE5cY7bgmG7dpKi68 and I'll pull the data specific to your target area.
Single-Family vs. Condo: How to Decide Right Now
This is the question I hear most often, and the answer starts with your timeline and lifestyle, not just price.
If you're focused on single-family homes, expect faster timelines, stronger competition, and fewer second chances on the best homes. If you're open to condos or townhomes, you may have more room to negotiate, more time to evaluate options.
The single-family home median price increased 0.2% year-over-year to $1,122,500, while the condo median price dipped 1.9% to $529,000.
That spread means a condo in Kakaako or Ala Moana at the $529,000 range represents a dramatically different monthly payment and a real path to ownership for buyers who might otherwise be priced out.
One thing to understand about Oahu condos: maintenance fees, special assessments, and building health matter enormously. I always walk my clients through a thorough review of financials and reserve studies before we make an offer. It's part of doing this right. Learn more about how I guide buyers through this process at maihomeshi.com, and pick up the full Buyer's Guide at maihomeshi.com/download-buyers-guide.
5 Things Every Oahu Buyer Should Do Right Now
1. Get pre-approved, not just pre-qualified. On Oahu's single-family side, you may have less than 48 hours to decide. A full pre-approval from a lender who knows Hawaii's market puts you in a position to make a clean, competitive offer immediately.
2. Define your non-negotiables. With inventory tight, buyers who know exactly what they need versus what they want move faster and make better decisions. Location, bedroom count, and parking are usually the hardest to compromise on. Finishes are not.
3. Study the condo's financials before you fall in love. In Hawaii, the building's reserve fund and any pending special assessments can add thousands to your annual cost. This is not optional due diligence.
4. Think about your total cost of ownership. Mortgage, property taxes, HOA fees, insurance, and upkeep all factor in. I help my clients run these numbers before we go under contract.
5. Work with someone who knows these specific neighborhoods. Oahu is not a single market. The dynamics in Kailua are completely different from those in Makiki, and what works in one area doesn't apply in another. Local expertise is genuinely valuable here, not just a sales pitch.
The Bottom Line
Is now a good time to buy a home on Oahu? For single-family homes, the market rewards buyers who are prepared and move decisively. Inventory is low, competition is real, and prices are holding. For condos,
2026 may genuinely offer some of the best negotiating opportunities seen in years, with higher inventory levels, longer marketing times, and seller flexibility.
Either way, the answer isn't just about the market. It's about your timeline, your finances, and what home means to you. That's a conversation worth having with someone who knows this island.
I'm Mai Kashihara, a Realtor at eXp Realty Hawaii, and I've helped buyers navigate Oahu's market through every kind of condition. Book a free 30-minute consultation at calendar.app.google/XE5cY7bgmG7dpKi68, or download the free Buyer's Guide at maihomeshi.com/download-buyers-guide. No pressure, just a real conversation about your situation and your options.
Mai Kashihara | Realtor, eXp Realty Hawaii | RS-84287 | SRES | MRP
(808) 782-0072 | mai@maihomeshi.com | maihomeshi.com | @mai.kashihara
Sources: Honolulu Board of REALTORS Monthly Statistical Reports (hicentral.com); Locations Hawaii Market Reports (locationshawaii.com); Zillow Home Loans, June 2026; Bankrate Hawaii Mortgage Rates, June 2026; Dwell Hawaii New Construction Report, 2026; Hawaii Home Listings Market Update, May 2026.
