Oahu Luxury Real Estate Update: What Happened in March 2026
Luxury Home Overview
March brought a noticeable shift in Oʻahu’s luxury single‑family home market, marked by a surge in sales activity but also signs of more selective buyer behavior. Closed sales rose sharply to 47, up 34.3% from February. This is highest sales volume since October 2025. Median price climbed 21.3% to $2.85M, the highest it’s been since September 2023. Yet the market also slowed in pace, with days on market stretching to 101 days, nearly double February’s speed. Buyers negotiated more firmly in March. The average list‑to‑sold ratio dipped to 95.2%, and the share of homes selling at or above asking fell from 40% to 25.5%.
Price per square foot softened by 6.1%, and price reductions became more common, rising to nearly one‑third of all sales. Inventory and escrow activity as of early April showed very little change across most price points. However, there was notable increase in pending sales in the $3M–$5.9M range, twice the amount compared to a month ago. Taken together, March reflects a luxury market where demand is present, especially in the mid‑luxury tiers, but buyers are taking more time, negotiating harder, and responding quickly only to properties that are priced with precision.
Luxury Condo Overview
Oʻahu’s luxury condo market softened in March. Closed sales declined to five units from seven, and the median price fell to $2.4M after February’s 8-month high. Luxury condos took about three weeks longer to sell in March than last month. Price per square foot also decreased significantly, dropping 28.5% to $1,778.05. Price reductions remained modest and unchanged in count, though they represented a larger share of the smaller pool of sales. Despite the lower price points, buyers continued to negotiate, with no units selling at or above asking for the second month in a row. However, the listing to sold price ratio increased in March compared to February.
Inventory and escrow activity shows steady pending activity and minimal shifts in supply across most price ranges. Notably, the $6M–$9.9M tier saw a jump in pending sales from 2 to 6 luxury condos in escrow. This is a large increase for a small number of units at this price point. Overall, March reflects a recalibration after February’s standout prices, which were skewed by several condos with high sales prices and prices per square foot. Buyers remain engaged, but pricing sensitivity and selectivity continue to shape the luxury condo landscape.
Click through the report below for the full update on what happened in Oahu luxury real estate in March. 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
Caron B Realty International is a boutique luxury real estate brokerage based in Honolulu, specializing in East Honolulu’s most sought-after neighborhoods. Founded in 2022, the firm has closed over 1,317 transactions totaling more than $995 million in sales volume. 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. Guided by the philosophy of high tech, high care, high results, Caron B Realty International provides a level of precision, service, and market expertise designed for today’s luxury real estate clients. Follow us on YouTube for our latest luxury property tours, market update videos, and more. 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
Caron B Davis is a Honolulu luxury real estate broker and founder of Caron B Realty International, with over 36 years of experience and more than 944 closed transactions totaling $1.59 billion in sales. She is widely recognized for her expertise in East Honolulu luxury homes, including Diamond Head, Kahala, and Hawaii Loa Ridge, as well as oceanfront and view properties. In 2025, she sold the most homes in Diamond Head among individual agents. Caron also represented the highest sale in Hawaii Loa Ridge. Learn more about Caron B Davis here.
