Oahu Real Estate Market Trends
Stay ahead of the market with exclusive content on Oahu’s real estate trends, backed by 25 years of data and expert analysis. From economic shifts to local policy changes, see how major events have shaped the island’s property market—and what’s next.
Don’t miss out! Sign up for our newsletter for access to in-depth insights, charts, and expert takes tailored for serious investors and homeowners.
Single-Family Overview
Over the past 25 years, Oahu’s real estate market has experienced significant fluctuations influenced by various economic, social, and political events. Below is a timeline highlighting key periods and their corresponding impacts on the housing market:
2000-2007: Pre-Recession Growth
- Economic Climate: A robust U.S. economy and favorable interest rates led to increased real estate investments nationwide, including Oahu.
- Real Estate Impact: Property values on Oahu saw a steady rise during this period, driven by both local demand and interest from mainland investors.
2008-2010: Global Financial Crisis
- Economic Climate: The subprime mortgage crisis precipitated a global economic downturn.
- Real Estate Impact: Oahu experienced a slowdown in property sales, with median prices stabilizing or slightly declining as credit tightened and buyer confidence waned.
2011-2019: Recovery and Stabilization
- Economic Climate: Gradual economic recovery, coupled with Hawaii’s strong tourism sector, bolstered consumer confidence.
- Real Estate Impact: Property values on Oahu rebounded, with median sales prices increasing steadily. The demand was partly fueled by low interest rates and limited housing inventory.
2020: COVID-19 Pandemic
- Social Impact: The pandemic led to travel restrictions, a decline in tourism, and economic uncertainty.
- Real Estate Impact: Initially, there was a brief dip in market activity. However, as remote work became prevalent, interest in Oahu properties grew, especially from buyers seeking relocation from urban centers. This demand led to a surge in median sales prices.
2021-2023: Post-Pandemic Adjustments
- Economic Climate: Tourism gradually resumed, and the local economy showed signs of recovery.
- Real Estate Impact: The real estate market remained strong, with continued interest from out-of-state buyers. Median sales prices for single-family homes and condominiums saw consistent growth.
2024: Legislative and Environmental Factors
- Political Events: Hawaii lawmakers addressed rising property insurance premiums, influenced by climate change-related disasters.
- Real Estate Impact: Increased insurance costs added to the overall expenses of homeownership, potentially affecting buyer decisions and market dynamics.
2025: Current Market Overview
- Economic Climate: As of January 2025, Oahu’s real estate market continues to show resilience.
- Real Estate Impact: The median sales price for single-family homes reached $1,120,000, a 9.7% increase from the previous year, while condominiums saw a 6.8% rise to $539,500.
Your Luxury Hawaii Real Estate Experts
Whether you are selling or buying Hawaii luxury real estate, it’s essential to work with an experienced, knowledgeable realtor who can guide you through the current market. Expert pricing and negotiation are key strengths of the realtors at Caron B Realty. These skills have allowed us to bring record-breaking sales and multiple offers on our client’s listings. To discuss the market in your area or the value of your home, please call our office at (808) 593-9826 or email concierge@caronb.com
Click here for our latest statistical report on Oahu’s luxury real estate market. Visit our YouTube channel and subscribe for weekly videos on Oahu’s real estate market, featured properties, and our local community.
