With single-family home for-sale inventory so constrained—especially in the entry-level price range—condo sales shot up in March to the most since 2006. Home prices are expected to continue to climb into late spring and early summer, pushed upward by strong buyer demand, extremely low inventory and highly competitive market conditions.

Oahu single-family home inventory is at its lowest point in more than 40 years and condo inventory is dropping at an accelerating pace. Coupled with decades of pent-up demand, there’s no end in sight to current market conditions—making it an advantageous time for sellers and a critical time for homebuyers, especially first-time buyers.

The Oahu real estate market is more competitive than ever, evidence of Oahu’s strong demand for housing and the lack of supply for sale. February 2021 hit records again, in several market indicators, signs of strong demand and a continued competitive market. Home and condo prices are at record highs, days on market at record lows, and the percent of sales bid-up over asking price at all-time highs.

January 2021 was a record-breaking month for the Oahu real estate market. Record prices, strong sales, record low days on market and record-high bid-ups, all bucked the typical seasonal trend.