O'ahu October 2026 Housing Market: Sales Slow, Inventory Grows
By I-Hsiang Tsai RA (aka Rex) | KW Honolulu | RS-75236
Aloha! October's O'ahu housing numbers tell two different stories: fewer homes changed hands and buyers had more listings to consider, yet single-family homes continued to sell quickly. My takeaway is to look beyond the islandwide headlines and keep your budget and property type at the center of your decision.
According to the Honolulu Board of REALTORS® October 2026 Monthly Statistics Report, half of October's condo sales closed below $500,000, while 37% of single-family home sales closed below $1 million.
October at a glance
Single-family homes: 239 sales, down 8.4% year-over-year. The median sales price was $1,150,000, down 1.1%.
Condos: 339 sales, down 23.5% year-over-year. The median sales price was $499,000, down 6.7%.
Active inventory: 805 single-family home listings, up 3.9%, and 2,506 condo listings, up 7.0% year-over-year.
More choices at lower price points
At October's end, 1,251 active listings across both markets were priced at $500,000 and below. Year-to-date, 1,761 properties in that price range had sold.
Those numbers are worth a closer look if you are exploring a purchase with a defined budget. They show activity at lower price points, but an islandwide price range alone does not tell us whether a particular property fits your needs.
Single-family homes still move quickly
Slower overall sales did not mean every seller faced a longer wait. Single-family homes spent a median of 15 days on market, compared with 26 days a year earlier. One in three single-family home sales closed above the original asking price, up from one in four a year ago.
Condos followed a different pattern: median days on market increased from 44 to 49. The share closing above the original asking price edged up from 10% to 11%.
For me, that contrast is a reminder not to treat the single-family and condo markets as interchangeable.
The year-to-date picture
Through October, single-family home sales remained 4.3% ahead of the same period in 2025, while condo sales were down 4.9%.
The year-to-date single-family median sales price was $1,180,000, up 2.6%. The year-to-date condo median was unchanged at $510,000. October's monthly declines therefore sit within a broader picture that differs by property type.
HBR's perspective
“Higher mortgage rates compared to a year ago are putting additional pressure on buyers' budgets, and we're seeing that reflected in slower sales and fewer contracts being signed. At the same time, single-family homes are still moving relatively quickly, with more sellers receiving offers above their original asking price. Buyers may be taking a more cautious approach overall, but competition remains in the market.”
— Aaron Tangonan, president of the Honolulu Board of REALTORS®
What this means for buyers, sellers, and investors
Buyers: More active inventory gives you more properties to compare. I would start with your budget and priorities, while staying prepared for competition in the single-family market rather than assuming every listing will accept a lower offer.
Sellers: Rising inventory makes it important to understand the alternatives buyers are considering. I would review comparable properties carefully and build a pricing strategy around your home—not assume that either slower sales or above-asking transactions describe every listing.
Investors: I would use these figures as a starting point, not a return forecast. The different sales pace and price trends in condos and single-family homes call for a property-by-property review of costs, intended use, and investment goals.
I-Hsiang Tsai's Thoughts on the Numbers
I see a potential opening here for cash buyers and buyers who are less dependent on mortgage financing to find a condo in Hawaii at a relatively lower price. October's condo median sales price fell 6.7% year-over-year to $499,000, compared with a year-to-date median of $510,000. That does not mean every condo is discounted by 6.7%, but it gives us a reason to take a closer look.
Condo sales were down 23.5%, median days on market increased from 44 to 49, and active condo inventory rose 7.0% to 2,506 listings. Only 11% of condo sales closed above the original asking price. Across both property types, 1,251 active listings were priced at $500,000 and below; that figure is not condos alone.
With higher mortgage rates putting pressure on financed buyers' budgets, I believe buyers who rely less on a loan may encounter less competition and more room to negotiate on some condos. The key word is “may”: these islandwide figures do not guarantee a bargain, a seller concession, or future appreciation. I would compare each property's asking price with relevant sales before calling it a good value.
I would also review each building's HOA fees, reserves, special assessments, and rental rules before moving forward. A lower purchase price is only one part of the decision. If you are considering a cash purchase or a purchase with less financing, reach out—I would be happy to help you evaluate the options and the full ownership picture.
If your budget allows, I still see single-family homes as a good choice, especially if you prefer fewer concerns about condo association fee increases and special assessments. That depends on the property: some single-family homes still have HOA obligations, and maintenance costs remain part of ownership. The year-to-date single-family median sales price was $1,180,000, and October's median time on market was just 15 days. I would have your plans and funds ready so you can move quickly when the right home comes along, without skipping due diligence. Reach out and we can compare the condo and single-family options that fit your budget.
Let's talk about your next move on O'ahu
If you are thinking about buying, selling, or investing, I can help you put these numbers in context for the properties you are considering.
I-Hsiang Tsai RA (aka Rex)
KW Honolulu | License RS-75236
(808) 392-8393 | rtsai@kw.com
English & Chinese service | 提供中英文服務
Sources
Article and statistics source: Honolulu Board of REALTORS® October 2026 Monthly Statistics Report, “O'ahu Home Sales Decline in October as Inventory Increases.” Residential resales data compiled from HiCentral MLS, Ltd. This post is my summary and commentary on the report supplied for this update.
Official HBR market reports: https://www.hicentral.com/market-press-releases.php
Image credit for the accompanying infographic: Image source: Honolulu Board of REALTORS®; residential resales data compiled from HiCentral MLS, Ltd.
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