O‘ahu Real Estate Update: November Sales and What’s Moving on the Island
Aloha mai kākou! As we start to wrap up the year and get into the full swing of the holiday season, the November housing stats are in from the Honolulu Board of REALTORS®. If you’ve been keeping an eye on the market, you already know O‘ahu doesn’t usually follow the same rules as the mainland, and this past month was no exception. We saw some real movement in single-family homes, while the condo market took a bit of a breather.
Here’s the breakdown of what happened across our island this past month.
Single-Family Homes: High-End Activity and Steady Prices
Single-family home sales were definitely the standout in November. We saw a 18.7% jump in closed sales compared to last year, with 241 homes finding new owners. Interestingly, most of that action happened in the mid-to-high-end price ranges. Sales for homes priced between $800,000 and $900,000 more than doubled, and we saw a similar surge for luxury properties priced at $2 million and up.
Even with all those closings, prices stayed relatively steady. The median sales price for a single-family home was $1,100,000, which is just a tiny dip (1.3%) from last November. If you're looking at the big picture for 2025, the year-to-date median price is actually up about 3.8%, sitting at $1,141,500.
-
Closed Sales: 241 (Up 18.7% year-over-year).
-
Median Price: $1,100,000 (Down 1.3% year-over-year).
-
Days on Market: 27 days (A little slower than the 24 days we saw last year).
-
Competition: About 27% of homes still sold for more than the original asking price.
The Condo Market: Easing Up a Bit
On the condo side of things, the market felt a little more relaxed. Sales volume dropped by 7.3%, and we saw a more noticeable shift in pricing. The median sales price for a condo fell 8% to $487,450.
A big reason for that price drop is a shift in what was actually selling. We saw a 28% spike in sales for condos priced under $400,000, while sales for units over $500,000 dropped by more than 22%. Simply put, more affordable units moving through the system brought that median price down.
-
Closed Sales: 316 (Down 7.3% year-over-year).
-
Median Price: $487,450 (Down 8% year-over-year).
-
Days on Market: 40 days (Compared to 32 days last November).
-
Inventory: There’s actually more to choose from right now—active condo inventory is up 11.5% from last year.
Neighborhood Spotlight: Where’s the Heat?
While the overall numbers give us the "birds-eye view," we all know real estate in Hawai‘i is all about the specific neighborhood. Even though closed sales were down for condos island-wide, Pending Sales—which show us what’s currently under contract—actually went up.
We saw some serious buyer interest in Central O‘ahu and Waipahu, where pending condo sales jumped by 47% and 63% respectively. It looks like folks are still hunting for value in those established community hubs where you get a bit more bang for your buck.
What This Means for You
Sellers were a little quieter this month, with fewer new listings hitting the market for both homes and condos. However, the increase in pending sales suggests that buyers are still out there looking for the right opportunity before the new year starts.
Whether you’re living town-side or out on the West Side, the market is proving to be resilient. Things are moving a little slower than the frantic pace of a few years ago, which actually gives buyers a bit more time to breathe and think.
We’ll keep an eye on how the year finishes out. Until then, enjoy the cooler "winter" weather and the holiday lights around the island!
