Oahu Luxury Real Estate Update: January 2026
Luxury Home Overview
O’ahu luxury home sales started the year on a softer note with 28 sales, a marked dropped from the past several months. Last month’s sales volume is not necessarily predictive of the year. January 2023 and 2024 also had low sales volume relative to the rest of the year. Median price decreased by over 4%, however, price per square foot rose over 12% from last month. Luxury homes aren’t commanding the prices that realtors and/or home sellers anticipated. For example, the top selling home had been taken off the market and relisted. It sold after a total of 423 days for only 79% of the asking price.
This is seen throughout January’s sales, with only 21.4% of homes receiving at least full asking price, the smallest percentage seen in a while. Luxury homes took nearly two weeks longer to sell on average, another indication that pricing needed to be adjusted. They received a much lower percentage of their asking price and a smaller proportion of them sold at or above asking price. About the same portion of homes sold had price reductions in January as in December. Available inventory dropped in most price ranges. Pending sales the $1.8-$2.9M and $3-$5.9M ranges rose notably, so we can expect to see an increase in sales in February or March when they close.
Luxury Condo Overview
Luxury condo sales volume showed a similar pattern to that of luxury homes. January sales saw a sharp decrease from December but lower January sales a typical, historically. However, there was little change in active or pending sales. Median price decreased over 10% from December and price per square foot dropped 7.6%. As with luxury homes, there was a misalignment in asking price and what buyers offered. Zero percent of luxury condos received their asking price; the average was 94.5%.
It’s notable that price reductions fell sharply, from 41.4% to 27.2%. This is not because homes were priced more accurately, but because many agents held firm on list prices while buyers simply refused to meet them. The market adjusted not through markdowns, but through lower offers. On a positive note, luxury condos sold a week faster than in December. All five of the luxury condos that sold under 100 days had price reductions, indicating that strategically assessing the market and buyer sentiment leads to quicker sales.
Click through the report below for the full update on what happened in Oahu luxury real estate in January. Click here for a quarter 4 2025 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.
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
