Oahu Median Home Price Tops $1.2M Record in 2026 Boom

HONOLULU — Oahu's real estate market reached a historic peak in February 2026, with the median single-family home price hitting $1,205,000 for the first time ever, according to Harcourts Island Real Estate broker David Buck. That's a 1.7% jump from $1,185,000 a year prior, driven by low inventory and surging demand that saw sales rise 6% year-over-year and median days on market plummet to 17 days. The Honolulu Board of Realtors data underscores a milestone unseen in its records, even as condo prices edged up 1.2% to $500,000 from $494,000.

Urban core areas like West Honolulu and Nuuanu-Makiki exemplify the frenzy, with West Honolulu median prices climbing 2% to $1,023,500 on 138 sales, 36.2% of which bid over asking and months of remaining inventory at a tight 3.4. Nuuanu-Makiki saw medians soar 13% to $1,300,000 across 116 sales, while Waialae-Kahala held steady at $2,362,500 but sold 42% more homes in half the time, 14 days on average. A condo tower construction boom, as noted in initial Aloha State Daily reporting, contributes to an 8% year-over-year price hike in these zones, tightening supply further.[context]

Chad Takesue, chief sales officer for Locations Hawaii, highlighted diverging trends in a February 2025 update that foreshadowed 2026's surge: single-family homes stayed strong with record $1,192,500 medians up 11%, but condos softened to $496,500 amid a 15-year high in listings and 6.0 months of inventory. By early 2026, Oahu's single-family momentum persisted, contrasting condo markets where sales lagged and days on market hit 48, a 12-year high. Neighborhoods like Hawaii Kai posted 9% price gains to $1,675,000, with 30.3% bidding over ask.

Statewide, Oahu leads with medians above $1.1 million, outpacing Big Island affordability and Maui's post-fire volatility tied to short-term rental laws. Mililani mirrored the heat, with medians at $1,071,250 and inventory doubling to 2.0 months on 144 sales. Buyers face escalating barriers, as one in four single-family homes sells above list price amid Hawaii's ongoing housing crunch.