Median real estate prices on Oahu have not suffered from COVID-19 impact. Median home prices are well above last year’s levels, and condo median prices are rising above last year. The final median prices for 2020 are $830,000 for homes and $435,000 for condos, up 5% and 2% from last year, respectively. Lack of inventory for sale is the Oahu real estate market’s biggest issue, adding pressure on prices and increased competition for buyers. Homes for sale are scarcer than they have ever been, with only 453 active listings on the market.

In November, the median single-family home price rose 11 percent over the previous November to $877,500. The median condo median price rose two percent in November to $425,000. For the past 12 months, the median single-family home price was $825,000, a five percent increase over the previous 12-month period, and $430,000 for condos, a one percent increase over the same time period.

Ililani—the newest high-rise condominium to adorn the skyline of Kaka’ako--has launched an exclusive and limited time sale for twelve (12) market-priced units at reduced price to the public! Two-bedroom units now start at $687,000 for 826 square feet, plus a 68-square-foot lanai. This is a limited time offer and may not be offered again on market priced units in the future!

The initial effects of the coronavirus pandemic have passed, and Oahu market activity has returned to last year’s levels or better, as strong demand for housing and lack of supply for sale continues. With just 590 single-family homes for sale, inventory is at the lowest point in the 40 years that Locations has been tracking the Oahu real estate market. Record-low single-family home inventory, coupled with near historically low interest rates, pushed median home prices and competition to new highs in September, with four in 10 homes selling for above the asking price.