Heading into fall, the economic outlook is generally positive for the Oahu real estate market. Mortgage interest rates are below 6.5 percent and will likely continue to edge slightly lower over the next several months. As rates come down, an increase in demand is expected, particularly among first-time homebuyers.

Wondering how the Oahu real estate market is performing in 2024 (and where it's headed next)? Check out the 2024 Mid-Year Oahu Real Estate Market Update from Locations' Research Department. The below report provides a detailed look at current trends, as well as a look ahead. Whether you plan to buy, sell, or are simply interested in the local market, read on for insights into the factors that are shaping Oahu's real estate landscape.

At more than halfway through 2024, the Oahu single-family home market is gaining steam while the condo market continues to show signs of easing. Despite higher borrowing costs, home prices are rising, and for-sale inventory is unchanged. On the other hand, condo prices haven’t moved from a year ago, and inventory is approaching a balanced-market level.

The Oahu real estate market remains dynamic as home prices reach new highs in June 2024, with a median of $1,125,000 and condo prices at $528,000. Despite a softening condo market, stable home sales and rising inventories suggest ongoing demand and steady sales through the summer.