Oahu Luxury Real Estate Market Report: May 2026

The Oahu luxury single-family market gained strong momentum in May, with sales rising, prices increasing, and homes moving at the fastest pace seen since early 2019. With nearly 15% more closings, a 6.1% increase in median price, and days on market dropping dramatically to just 22, the market shifted in favor of sellers. Stronger buyer confidence was evident in tighter pricing outcomes—nearly half of all homes sold at or above asking, the list-to-sale price ratio climbed to 99.1%, and price reductions fell to their lowest level in months.

While the decline in price per square foot reflects a shift toward larger homes or different segments of the market, overall demand remains steady—especially in the $1.8M–$2.9M range, with continued absorption in the $3M–$5.9M segment. Higher price points above $6M remain more limited, with fewer transactions and a lower top sale than typical. Overall, May highlights a more efficient and responsive market where strong demand and accurate pricing are driving faster sales and improved seller positioning.

The Oahu luxury condo market showed clear signs of strengthening in May, with pricing and efficiency improving even as sales volume remained steady. The median price jumped nearly 23% to $2,950,000, while days on market fell to 81. This indicates a quicker pace and more decisive buyer activity. Sellers benefited from stronger outcomes as well, with the list-to-sale price ratio rising and the share of homes selling at or above asking price doubling. At the same time, price reductions declined significantly, reinforcing growing buyer confidence and more accurate pricing strategies.

There was a modest increase in price per square foot, signaling continued resilience in the luxury condo segment. Demand remains strongest in the $1.8M–$2.9M range with increasing activity, while the $3M–$5.9M tier is holding steady with slightly improving absorption. Higher price points above $6M remain limited in both supply and transaction volume. Overall, May reflects a more efficient and responsive condo market, where improved pricing alignment and steady demand are helping drive faster sales and stronger seller positioning heading into the summer season.