O’ahu Luxury Real Estate Report: Quarter 4 2025
O’ahu Luxury Single-Family Market Summary
The O’ahu luxury single-family home market started off the year with a 18.8% drop in in sales volume from Quarter 1 2026 to Quarter 4 2025. However, sales volume has been trending up since January. A slower January or February, followed by increased sales activity in the spring is a pattern we have seen over the past few years. Median price increased by 13.6% and price per square foot rose 5%. In addition, the $3M-$5.9M range made up a larger proportion of sales in Q1 than in Q4. This points to more buyer interest and confidence at higher price points. On average, luxury homes sold 18 days slower, a smaller proportion of homes sold at or above asking price, and homes received a smaller percentage of their asking price. The share of homes with price cuts decreased from 31.5% in Q4 2025 to 28.7% in Q1 2026, as homes were priced more strategically.
As usual, the most active luxury price range is $1,800,000-$2,999,999, with 67% of sales in Q1. This is also the most active range for active listings, with 51.5% of luxury homes for sale in this range. In January, there was a large decrease in pending sales in the $1.8-$2.9M range, corresponding to the rising sales volume in February and March. The $3M-$5.9M range saw a jump in pending sales in February, followed by a sharp drop off in March. There was little movement in the other two price ranges. Local residents accounted for 61% of Q1 luxury home purchases, followed by buyers from California. There were no international buyers.
O’ahu Luxury Condominium Market Summary
The luxury condo market also started off the year with slower activity, with sales down from 40 in quarter 4 2025 to 23 in quarter 1 2026. As with luxury homes, this is an expected seasonal pattern that typically rebounds in spring. Despite the lower volume, the market showed mixed signals. Median price decreased by 3.6% while price per square foot rose by 6.7% from Q4 2025 to Q1 2026. Luxury condos sold two weeks faster, but luxury condos had a lower listing to sales price ratio than in Q4. Sellers continued to negotiate strongly, as March marked the third month in a row with zero luxury condos sales at or above the asking price. 30.4% of luxury condo sales had price reductions in Q1 2026, compared to 32.5% of sales in Q4 2025.
The most active luxury price range is $1,800,000-$2,999,999, with 60.8% sales in Q1 in this range, down from 65% last quarter. Sales in both the $6M-$9.9M and $10M+ ranges rose from 2.5% to 8.7% quarter-over-quarter. The $1.8M-$2.9M range is also the most active range for current listings, with 59.1% of condos for sale in this range. Pending sales in the $1.8-$2.9M dropped by about half from February to January but and rose again in March. There have been 10 luxury condo sales so far in April and we can expect to see more sales in the next month or two. The largest purchasers of luxury condos were Hawaii residents at 39.1% of sales, followed by Japanese corporations at 21.7%. There were no non-corporate buyers from Japan but there was one from South Korea.
Click through this report to learn more about what happened in the Oahu luxury real estate market in the first quarter of 2026. See the the top single-family home and condominium sales, data on active listings and escrows, and statistical comparisons to quarter 4 2025. Click here to read our March Luxury Market Report.
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.
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