Oahu Condo Market Increasingly Competitive in April 2021

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.

Condo sales are booming this spring, as interest rates below three percent give first-time homebuyers added purchasing power and an extremely tight single-family home market has pushed more buyers to consider other housing types. As the condo market catches up to the single-family market, competitive conditions and sales will likely increase, while days on market could drop even more.