Real Estate Report - May 2025

O'ahu Real Estate Market Report

Market at a Glance
The O‘ahu housing market in April 2025 continued its trend of price stability with softer sales as buyers and sellers adapt to higher interest rates and increasing inventory.

Key Market Insights

• Affordability Front & Center: Higher mortgage rates are prompting both buyers and sellers to reassess pricing and expectations.
• More Choices for Buyers: New listings surged — 366 single-family homes and 851 condos hit the market in April, giving buyers a wider selection.
• Sellers Adjusting: While prices remain steady or increasing modestly, properties are taking longer to sell, and price negotiations are becoming more common.
• Shift in Buyer Behavior: Buyers are taking more time to make decisions and often requesting seller concessions to help pay down mortgage rates. Many are prioritizing affordability and looking for opportunities to reduce their monthly payments.

What This Means for You

• For Buyers: More inventory and longer days on market mean increased negotiating power. Buyers can secure better pricing, request concessions, or negotiate rate buydowns to improve affordability.
• For Sellers: Well-priced and properly prepared homes are still attracting serious buyers, but flexibility on pricing or concessions may be necessary. Sellers may need to price aggressively to ensure their property is the next to sell before competing listings come on the market.
• For Observers & Investors: The market is normalizing. Single-family homes continue to show steady price growth while condos stabilize, offering opportunities for long-term investment.