The Oahu real estate market remains steady as we head into the summer months. While affordability is still an issue for many homebuyers, Locations anticipates stable sales and flat-to-slightly rising prices throughout Summer 2024, due to continued low supply and strong demand.

The Oahu real estate market is muted but stable, as we head into the peak homebuying season. Pent-up buyer demand is counteracting the dampening effects of higher mortgage rates and economic uncertainty, and steady sales and moderate price increases are expected to continue throughout the summer months in 2024.

What would you do with an extra $260,000? Move to a larger home, or a new neighborhood? Add an Accessory Dwelling Unit (ADU) to your existing home, or renovate your kitchen and baths? If you think you don't have that kind of cash on hand, you might be pleasantly surprised: Many Oahu homeowners have a significant amount of home equity—it's almost like your home is a piggy bank that grows bigger each year.

As the saying goes, all real estate is local. Looking at housing data for Oahu overall can provide a good bird's-eye view of the market, but it's not always a good barometer of what's happening on your block. That's why in addition to crunching the monthly numbers for the Oahu market, Locations' Research Department also analyzes single-family home and condo local market areas—even drilling down to the island's 365 neighborhoods.