Amid a growing inventory of single-family homes and condominiums on Oahu, year-to-date sales volumes in both markets remained depressed in April from the same period in 2024 but rose slightly from March’s numbers, according to a monthly report released Tuesday by the Honolulu Board of Realtors.
April’s numbers signal that while the market is favoring homebuyers and granting them more negotiating power, fewer people are buying homes in a depleted economy.
“The Oahu real estate market was softer in April 2025, compared to last month and a year ago,” Locations Chief Sales Officer Chad Takesue said in a statement. “Single-family homes and condos were on the market longer and buyer competition was lower — the opposite of what we’d expect to see this time of year.”
April finished with 241 single-family homes and 395 condos sold, an 8% and 8.4% decrease, respectively, in both markets since April 2024. That’s a slight increase from March, which saw 206 single-family homes and 369 condos sold.
While sales activity was down year over year, buyers saw a growing selection of listings in April from last year. Available single-family homes were up nearly 5% since 2024, and of them, homes priced from $600,000 to $999,999, grew almost 27% since April 2024 to 123 listings.
There were fewer available single-family homes in the $1 million-to-$1.3 million price range, which declined 20.9% from 2024.
Condo listings rose significantly, with 851 units in April, marking almost a 30% increase from the previous April. Nearly 60% of those listings, the report said, were priced at $599,999 and below.
Properties also remained on the market longer in April. Compared with April 2024, single-family homes stayed on the market for 29 days, compared with 17 a year ago, and condos rose to 43 days from 2024’s 29.
The combination of available listings, more time on the market and less buyer competition bodes well for homebuyers this month, according to Johana Allison, a real estate agent at RE/MAX Honolulu. She said that with more properties on the market across Oahu, buyers have the ball in their court.
Her advice to homebuyers: Buy now.
“Take advantage of this,” Allison said. “The conditions are favorable for buyers right now. They have more time, which for me that’s huge. You don’t have to go home and have 30 minutes to think about it, or two days to think about it. You have a week. That extra time is huge.”
Just as in March, affordability remains a key issue for buyers, the report said.
The median sales prices of the real estate market were mixed in April. Single-family home prices rose 6.4% since April 2024 and 0.9% from March to $1.17 million. In contrast, condo prices dipped 4.4% to $505,000 since 2024 but were up 1% from the previous month.
Trevor Benn, president of the Honolulu Board of Realtors, said in a statement that with more inventory and higher prices, buyers are shifting to a “more deliberate, value-focused approach to decision-making.”
“Fewer properties are closing above the (original) asking price, and that’s prompting a shift in seller strategy. Strategic pricing and patience are starting to play a larger role in how homes move,” Benn said.
According to the report, buyers’ negotiating power made a difference in April with 27% of single-family homes closing above the asking price, compared with 33% in April 2024, and 9% of condos selling above the original asking price, compared with 15% a year ago.
Allison, whose service areas include Waikiki, Kapolei, Honolulu, Ewa Beach, Royal Kunia and Aiea, said that despite a slow April, she’s optimistic for May’s outlook heading into the summer season, as military families should begin to take a look at Oahu homes nearing the end of the school year.
“It used to happen in the beginning of April, but it’s starting to get busier in May and it sounds like it’s increasing in June,” Allison said. “That’s what we’re seeing here.”
HOME SALES
The number of homes sold in April with the median price and percentage change from the same month in 2024:
HOMES
SALES
April 2025 241
April 2024 262
Change -8.0%
MEDIAN PRICE
April 2025 $1,170,000
April 2024 $1,100,000
Change 6.4%
CONDOS
SALES
April 2025 395
April 2024 431
Change -8.4%
MEDIAN PRICE
April 2025 $505,000
April 2024 $528,000
Change -4.4%
Source: Honolulu Board of Realtors
