Did the Two-Speed Market Hold Up?
What the September Numbers Say
Houses are still moving in about two weeks. Condos are taking their time. Here’s how all 21 neighborhoods shook out last month.
Last month I said Oʻahu’s housing market was running at two speeds: single-family homes selling fast and close to full price, and condos in town sitting longer. I promised I’d be back with the September numbers to see if that held up.
Short answer: it did. Homes sold in a median of 16 days. Condos took 41. The gap between the two actually widened a little.
Same as last time, I went through all 21 neighborhoods so you can see what’s happening on your side of the island, not just the island-wide averages. Here’s what September looked like, and what it means whether you’re buying, selling, or on PCS orders.
The Island-Wide Snapshot
Sales picked up for both homes and condos in September, while the home median came down from August’s high.
| September 2026 | Single-Family Homes | Condos |
|---|---|---|
| Median sales price | $1,110,000 ($1,240,000 in Aug) | $523,000 ($510,000 in Aug) |
| Closed sales | 293 (264 in Aug) | 375 (365 in Aug) |
| Median days on market | 16 (17 in Aug) | 41 (37 in Aug) |
| % of original list price | 99.4% (100.0% in Aug) | 96.6% (97.1% in Aug) |
| New listings | 324 | 610 |
| Active inventory | 798 | 2,509 |
Source: REMAX Hawaiʻi September 2026 Oʻahu Real Estate Market Reports. Active inventory is the total of all 21 neighborhood reports.
About that lower home median: a month-to-month median moves with the mix of homes that sell. September had more sales in lower-priced areas like Ewa Plain, Waipāhu, and Mākaha–Nānākuli, which pulls the middle number down. Days on market and price received barely moved, so demand didn’t suddenly drop off.
Town Condos vs. Everywhere Else
The condo slowdown is still mostly a town story. Four urban neighborhoods hold 1,657 of the island’s 2,509 active condos, about 66%.
| In-Town Condos | Active Listings | Sales | Days on Market | % of List |
|---|---|---|---|---|
| Waikīkī | 745 | 60 | 68 | 92.1% |
| Ala Moana–Kakaʻako | 498 | 63 | 46 | 96.0% |
| Makiki–Mōʻiliʻili | 246 | 41 | 30 | 95.2% |
| Downtown–Nuʻuanu | 168 | 27 | 46 | 98.1% |
Waikīkī’s inventory grew again, from 723 in August to 745. At September’s pace that’s about a year’s worth of condos on the market, and sellers there gave up nearly 8% off their original asking price.
Outside town, condos are a different ride:
| Suburban Condos | Days on Market | % of List |
|---|---|---|
| Kalihi–Pālama | 19 | 100.0% |
| Makakilo | 19 | 99.6% |
| Kāneʻohe | 30 | 99.4% |
| Pearl City–ʻAiea | 26 | 99.1% |
| Waipāhu | 30 | 98.8% |
In plain terms: in-town condo buyers are negotiating 2% to 8% off the original price. Suburban condo buyers are getting 1% or less. “Condos are soft” is only half the story.
West Oʻahu Spotlight
Out here on the West side, September was a busy month. Waipāhu, Makakilo, and Mākaha–Nānākuli all more than doubled their home sales from August.
| West Oʻahu Homes | Median | Sales | Days on Market | % of List | Active |
|---|---|---|---|---|---|
| Ewa Plain | $984,444 | 52 | 20 | 98.9% | 111 |
| Makakilo | $1,030,000 | 13 | 13 | 99.0% | 26 |
| Waipāhu | $949,500 | 23 | 15 | 98.6% | 26 |
| Mākaha–Nānākuli | $625,000 | 23 | 18 | 100.0% | 111 |
Ewa Plain
Ewa Plain (Kapolei, Ewa Beach, Hoʻopili, and Ocean Pointe) closed 52 home sales, the most on the island again. It also still has 111 homes for sale, so buyers have real choices at a median just under $1 million.
Waipāhu
Waipāhu jumped from 9 home sales in August to 23 in September. The median came in under $950,000, making it one of the more affordable single-family markets in Central and West Oʻahu.
Makakilo
Last month I said Makakilo’s 5 sales looked like one slow month, not a trend. September backed that up: 13 home sales in 13 days at 99% of list price.
Mākaha–Nānākuli
The biggest turnaround on the island. Mākaha–Nānākuli went from 82 days on market in August to just 18 in September, with sellers getting full asking price. At a $625,000 median, it’s still the most affordable path to a house on Oʻahu. Part of that is the number of Hawaiian Home Lands (DHHL) homes in Nānākuli, which sell under different rules. My posts on buying and selling a DHHL home break that down.
Where Sellers Still Have the Edge
In six neighborhoods, the typical home sold at or above its original list price. That’s down from nine in August, another small sign of a calmer fall.
| Neighborhood | % of List | Home Sales | Days on Market |
|---|---|---|---|
| Moanalua–Salt Lake | 103.6% | 6 | 21 |
| Downtown–Nuʻuanu | 102.4% | 10 | 13 |
| Pearl City–ʻAiea | 102.1% | 24 | 10 |
| Kailua–Waimānalo | 100.0% | 29 | 12 |
| Mākaha–Nānākuli | 100.0% | 23 | 18 |
| North Shore | 100.0% | 3 | 22 |
Pearl City–ʻAiea stands out. With 24 sales, that 102.1% isn’t a fluke, and homes there sold in just 10 days. Supply is razor thin in Moanalua–Salt Lake, too, with only 3 homes left on the market at the end of September. Kāneʻohe deserves a mention as well: homes sold in a median of 9 days, the fastest on the island.
A Word of Caution on Small Numbers
A few of September’s numbers are based on just a handful of sales, so take them with a grain of salt.
- North Shore had only 3 home sales. That $3,700,000 median reflects three high-end properties, not a sudden jump from August’s $1,277,500.
- Windward Coast had 2 home sales and 1 condo sale. The 70.8% condo figure is a single unit.
- Moanalua–Salt Lake led the island at 103.6%, but on 6 sales.
- Ala Moana–Kakaʻako and Waikīkī had no single-family sales, which is normal for those areas.
How I handle it: when the sample is small, I look at three to six months of sales before advising a client on price.
What This Means Heading Into the Holidays
If you’re buying a condo in town
You still have leverage, maybe more than last month. Inventory is up, and days on market are longer. That means room to negotiate on price, closing costs, or repairs. Do your homework on the building, especially maintenance fees and reserves. My guide to the Hawaiʻi condo document package walks you through what to look for.
If you’re buying a single-family home
Expect competition in most neighborhoods. Get fully pre-approved before you start touring, and be ready to move. Ewa Plain and Mākaha–Nānākuli have the most choices. Waipāhu, Ewa Plain, Wahiawā, and Mākaha–Nānākuli all had home medians under $1 million.
If you’re selling a house
Pricing is still everything. Homes priced right are selling in about two weeks at close to full price. Fewer neighborhoods are selling above list than in August, though, so an overpriced listing is more likely to sit through November and December.
If you’re selling a condo in town
Plan for more time on the market and plenty of competition nearby. Pricing it right from day one, strong photos, and a clean document package will set yours apart.
For military families on PCS orders: neighborhoods near the bases are still strong for single-family homes. Pearl City–ʻAiea sold above list, and Moanalua–Salt Lake and Mililani sold at 99% or better.
Suburban condos near base, like Pearl City–ʻAiea and Mililani, are a more affordable way in. If you’re using a VA loan, confirm early that the condo project is VA-approved.
Find Your Neighborhood
Here are the September 2026 numbers for all 21 Oʻahu neighborhoods. A dash means there were no sales that month.
| Neighborhood | Home Median | Home Sales | Home % of List | Condo Median | Condo Sales | Condo % of List |
|---|---|---|---|---|---|---|
| ʻĀina Haina–Kuliʻouʻou | $1,490,000 | 5 | 96.0% | – | 0 | – |
| Ala Moana–Kakaʻako | – | 0 | – | $840,000 | 63 | 96.0% |
| Downtown–Nuʻuanu | $1,087,500 | 10 | 102.4% | $685,000 | 27 | 98.1% |
| Ewa Plain | $984,444 | 52 | 98.9% | $555,000 | 27 | 96.8% |
| Hawaiʻi Kai | $1,812,500 | 8 | 99.3% | $782,500 | 10 | 98.7% |
| Kailua–Waimānalo | $1,659,000 | 29 | 100.0% | $750,000 | 7 | 98.8% |
| Kalihi–Pālama | $1,070,000 | 11 | 96.7% | $460,000 | 9 | 100.0% |
| Kāneʻohe | $1,300,000 | 22 | 99.7% | $747,000 | 12 | 99.4% |
| Kapahulu–Diamond Head | $1,290,000 | 22 | 97.9% | $550,000 | 4 | 94.7% |
| Mākaha–Nānākuli | $625,000 | 23 | 100.0% | $169,500 | 16 | 97.7% |
| Makakilo | $1,030,000 | 13 | 99.0% | $509,500 | 8 | 99.6% |
| Makiki–Mōʻiliʻili | $1,645,000 | 10 | 98.6% | $390,000 | 41 | 95.2% |
| Mililani | $1,100,000 | 13 | 99.4% | $535,000 | 25 | 98.1% |
| Moanalua–Salt Lake | $1,257,500 | 6 | 103.6% | $419,000 | 13 | 93.9% |
| North Shore | $3,700,000 | 3 | 100.0% | $1,047,500 | 4 | 95.8% |
| Pearl City–ʻAiea | $1,110,000 | 24 | 102.1% | $420,000 | 28 | 99.1% |
| Wahiawā | $753,500 | 8 | 99.5% | – | 0 | – |
| Waiʻalae–Kāhala | $2,632,700 | 9 | 97.5% | $856,500 | 2 | 99.2% |
| Waikīkī | – | 0 | – | $505,000 | 60 | 92.1% |
| Waipāhu | $949,500 | 23 | 98.6% | $500,125 | 18 | 98.8% |
| Windward Coast | $1,722,500 | 2 | 93.6% | $276,000 | 1 | 70.8% |
“% of List” is the percentage of original list price received.
Let’s Talk Story About Your Neighborhood
The island-wide numbers make headlines, but your street is what matters. I’m happy to pull recent sales for your neighborhood and walk you through what they mean for you. No pressure, no obligation.
Email DesmondDesmond Cura · REALTOR® · REMAX Hawaiʻi West Oʻahu · (808) 679-5276
Also published on my REMAX Hawaiʻi blog. Source: REMAX Hawaiʻi September 2026 Oʻahu Real Estate Market Reports. August comparisons are from my August 2026 market update. Information deemed reliable but not guaranteed.