Oahu Luxury Real Estate Market Report: September 2026 Sales

Oahu’s luxury single-family home market remained active in September, with 46 sales, matching August’s sales volume. While the median sales price eased 4.6% to $2.225 million, the market continued to demonstrate resilience, with homes selling at an average of 98.4% of asking price. However, buyers appeared to be taking a slightly more selective approach. The average days on market increased by 5 days and the percentage of homes selling at or above asking price declined by about 10 percentage points. At the same time, price reductions became more common, with nearly one-quarter of all luxury sales experiencing a price adjustment before going under contract.

Despite softer pricing metrics, demand for premium properties remains healthy, particularly for well-positioned homes in Hawaii’s most sought-after neighborhoods. Notably, price per square foot rose 15.2% month-over-month, suggesting continued buyer willingness to pay for quality locations, updated homes, and desirable lifestyle features. September’s sales include the highest sale year-to-date. The $16.5 million Diamond Head residence is the fifth sale over $10 million this year.

Inventory levels tightened across nearly every luxury price segment entering October. Active listings declined in all luxury price ranges, while pending sales remained relatively stable. The most notable activity continues to occur below $6 million, where pending sales significantly outnumber higher price brackets. With active inventory shrinking and buyer demand absorbing new offerings, sellers who price thoughtfully and present their properties well remain positioned for success, even as the market becomes more balanced than it was earlier this year.

Oahu Luxury Home Market Takeaway: September’s luxury home market remained steady in sales volume, but buyers became more selective. Longer market times, more price reductions, and fewer homes selling at or above asking highlight the growing importance of strategic pricing, while declining inventory could help support well-positioned properties moving forward.

Oahu’s luxury condominium market gained significant momentum in September, with sales volume doubling from 9 closings in August to 18 in September. The median sales price rose 25.1%, while the average time on market improved by over two month. Buyers also continued to show confidence in the segment, with properties selling at an average of 96.5% of asking price and price per square foot increasing 4.0% to $1,947.30. Equally noteworthy was the decline in price reductions, which fell to just 22.2% in September.

A major driver of September’s luxury condo activity was Victoria Place, which accounted for five of the month’s eighteen luxury condo sales. The continued absorption of inventory at Victoria Place demonstrates the strong demand for newly completed luxury residences in Kakaako and highlights buyer preference for premier locations, modern amenities, and turn-key living.

Looking ahead, inventory is becoming more segmented by price point. Active listings increased in the $1.8 million to $2.9 million range, while higher-end inventory above $3 million remains relatively limited. Pending activity remains concentrated in the lower luxury tiers. As a result, well-priced luxury condominiums in established and newly delivered buildings continue to attract attention, while the market overall appears to be benefiting from a healthy balance of inventory, buyer confidence, and strong demand for Honolulu’s premier condominium lifestyle.

Oahu Luxury Condo Market Takeaway: Luxury condo activity strengthened considerably in September, with sales doubling and the median price rising 25.1%. With Ward Village buildings accounting for 10 of the 18 sales, new luxury development continues to influence the market, while improved market times and fewer price reductions point to stronger momentum overall.

Click through the report below for the full update on what happened in Oahu luxury real estate in September, including top sales and historical data to see how the market has changed over time. Click here for a quarter 2 2026 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.