Hawai‘i Real Estate Market Update: What We’re Seeing Across the Islands

April 2026 brought continued market recalibration across the Hawaiian Islands. Nationally, existing-home sales slipped for the month as affordability pressures and limited inventory kept buyers cautious. Here in Hawai'i, that same tension is playing out differently on each island and in some cases, on each end of the same street. Let's get into it.

O'ahu Real Estate Market: Homes Moving Faster Even as Sales Dip

April on O'ahu had a headline that might look soft at first glance — but dig a little deeper and there's a more encouraging story underneath.

Single-family closed sales declined 4.6% year over year to 230 transactions, compared to 241 a year ago. Condo sales were also down 4.3%, landing at 378 closings from 395 last April. On the surface, slower sales. But year-to-date, single-family is actually up 6.3% — the dip in April doesn't erase a strong start to the year.

The more interesting headline? Homes are selling faster. Single-family median days on market dropped from 29 to 24 days. Condos dropped from 43 to 38 days. In a month where sales volume slipped, homes that hit the market well-priced are still moving quickly.

What's Happening with Prices on O'ahu

Median prices pulled back modestly in both segments. The single-family median came in at $1,150,000, down 1.7% from $1,170,000 a year ago. Year to date, the SFH median is $1,175,000 — up 1.5% from last year, so the bigger trend remains positive.

The condo median landed at $500,000, down 1.0% from $505,000 in April 2025. Year to date, the condo median is $505,000 — essentially flat. Prices aren't spiking, but they're not falling either.

Sellers in both markets did well on list price. Single-family sellers received a median of 98.3% of their original asking price, up from 97.8% a year ago. Condo sellers received 97.3%, up from 96.3%. Both metrics improving year over year, even with softer sales volume — that tells you that well-priced properties are still commanding strong offers.

Inventory and Supply Tightened Further

One of the most notable numbers in the April report is inventory. Single-family active inventory fell 12.2% year over year to just 707 listings, with only 2.9 months of supply. That is a tight market by any measure, and it's gotten tighter compared to last April's 3.5 months.

The condo side is more balanced but also tightening. Active condo inventory dipped 6.3% to 2,353 units, with 6.5 months of supply — down from 6.8 last year. Still in buyer-favorable territory on the condo side, but the direction is moving toward sellers.

New listings fell in both segments. SFH new listings slipped 4.1% to 351, and condo new listings dropped a more significant 18.0% to 698. Fewer homes coming to market while demand remains present is a recipe for continued price support.

Where the Action Was by Price Point

In the single-family market, the $900,000–$1,099,999 range was the standout — sales rose 37.8% year over year. That price band is doing real work on O'ahu right now.

In the condo market, the $400,000–$499,999 range saw a 26.9% jump in closings, and the $1,000,000–$1,999,999 condo range rose 50.0% — a signal that both the entry-level and higher-end condo segments found buyers in April.

What This Means for Buyers on O'ahu

The single-family market is lean. With 2.9 months of supply and homes moving in 24 days, buyers need to be prepared to act. Waiting for the right home and then taking two weeks to decide isn't a winning strategy in this environment.

Condo buyers have more breathing room. Inventory is higher, days on market are longer relative to SFH, and 6.5 months of supply means you can be deliberate. That said, the trend is tightening, so the window of relative leverage may be narrowing.

What This Means for Sellers on O'ahu

Both pending sales figures are up — SFH pending rose 1.5% to 268, and condo pending jumped 8.0% to 405. Buyers are in the market. The combination of shrinking inventory, faster days on market, and improving list-price-received ratios points to continued support for well-positioned sellers.

If you've been sitting on the sidelines wondering whether now is a good time to list, the April data gives you real reasons to have that conversation.

O'ahu Takeaway

Sales volume dipped in April, but almost everything else in the O'ahu data points in a positive direction — faster sales, tighter inventory, more pending contracts, and better list-price-received ratios than a year ago. This is a market that's healthy underneath the headline number.

Big Island Real Estate Market: Fewer Sales, But a Massive Surge in Dollar Volume

April 2026 on the Big Island is one of those months where the headline number and the real story are two very different things. Total sales dipped 4.84% year over year — from 372 to 354 transactions. But total sales volume jumped 39.26%, from $226.9 million to $316.0 million. Fewer deals, dramatically more dollars. That tells you everything about what kind of properties were moving.

Year to date, the trend follows a similar pattern. Total sales are down 12.20% to 1,302 transactions, but YTD sales volume is actually up 4.04% to $1.14 billion. The Big Island market is thinner on transaction count but larger on deal size.

Where the Volume Came From

Residential sales actually increased in April — up 3.21% from 156 to 161 closings. The island-wide residential median came in at $570,000, down 4.6% from $597,500 a year ago. Year to date, the residential median is $590,000, down just 1.67% — pricing has been remarkably stable for a market with this kind of volume swing.

Despite the modest median, residential dollar volume surged 29.53% to $192.9 million. That means the mix skewed significantly toward higher-priced homes, even as the midpoint held relatively flat.

North Kona was the standout district — 38 residential closings (up from 28), with a $1,069,000 median and total residential volume of $104.8 million. That's nearly a 90% jump in dollar volume from the same month last year. Something significant happened in North Kona in April.

North Kohala saw its residential median jump to $2,000,000 — up 33.3% — driven by high-end closings in the luxury market there.

South Kohala saw residential closings dip to 14 (from 20), with a $950,000 median, down 19.93%. The resort corridor softened slightly on the residential side, though condo activity picked up.

Puna posted 71 closings at a $410,000 median — a solid entry-level market still generating real transaction volume.

Vacant land was the other big story. Land sales fell 16.07% in unit count, but volume exploded 127.31%, from $28.9 million to $65.8 million. The South Kohala land market specifically drove much of that — $39.6 million in land volume alone. Fewer parcels, but clearly some significant transactions.

Condo sales edged up 8.33% to 52 closings, with a flat median of $582,500. North Kona condos led with 27 closings, and South Kohala condos posted a $1,119,000 median.

What This Means for Buyers on the Big Island

The entry-level residential market — particularly in Puna and Kau — is still accessible, with median prices in the $390,000–$410,000 range. Those areas aren't generating the dollar volume headlines, but they're offering real opportunities for buyers priced out of other parts of the island.

Mid-market buyers in South Hilo and Hamakua will find relative stability, with medians holding in the $570,000–$600,000 range. North Kona remains more competitive, especially as volume and activity picked up significantly this month.

Vacant land buyers may want to watch the South Kohala market closely — a surge in land volume often signals early-stage development interest, which can eventually tighten supply.

What This Means for Sellers on the Big Island

The volume surge in April is encouraging news for sellers in North Kona and the resort corridor. Buyers with capital are active and willing to transact at significant price points. If your property is well-positioned in those markets, demand is real.

For sellers in areas where median prices dipped — South Kohala residential, North Kona condos — pricing discipline matters. The buyers showing up are doing their homework and expect to see value relative to current market conditions.

Big Island Takeaway

April's Big Island data is a clear sign that high-end and luxury-adjacent buyers are active — and when they transact, the numbers are large. The broader market is still digesting a slower pace of overall transactions, but the money moving through this market is substantial. It's a tale of two markets: a lean, stable entry-level segment and a high-dollar luxury and land segment that had a strong month.

Maui Real Estate Market: Condos Stay Active, Single-Family Sales Pull Back

April 2026 on Maui was a month of contrast. The condo market stayed surprisingly active, with closed sales and pending contracts both moving in a positive direction. Single-family homes, on the other hand, saw a meaningful dip in closings — though the pipeline of pending sales tells a more encouraging story heading into May.

Single-Family Homes on Maui

Single-family closed sales fell 30.0% year over year in April, dropping from 70 to 49 transactions. That sounds significant, and it is — but it's worth noting that year-to-date single-family sales are essentially flat at 226 closings compared to 226 this time last year. The monthly dip didn't erase what was a strong first quarter.

Pending sales actually edged up 1.6% to 64 — a quiet but meaningful signal that buyers are still writing offers. New listings rose 3.4% to 92, giving the market a modest fresh supply of homes to consider.

The single-family median price came in at $1,290,000, down 6.4% from $1,377,500 a year ago. Year to date, the median is holding much more steady at $1,297,500, down less than 1% from the same period last year. So while April's headline number looks soft, the broader trend is one of gradual price normalization rather than a sharp correction.

Days on market climbed to 138 days, up 8.7% from 127 a year ago. Sellers should expect buyers to take their time. Inventory of single-family homes stands at 442 homes (+3.0%), with 7.7 months of supply — solidly in buyer-favorable territory for that segment.

By neighborhood, Kihei was the most active area with 13 closings at a $1,300,000 median. Wailea/Makena posted 2 closings at a $3,250,000 median — a reminder that the luxury end of the market is still transacting at elevated prices. Lahaina added 2 closings at a $2,382,500 median, continuing its steady recovery.

Sellers received a median of 95.6% of their original list price — essentially unchanged from last year.

Maui Condos: More Stability Than the Headlines Suggest

Condo activity told a more positive story in April. Closed sales rose 4.5% year over year, from 67 to 70 transactions — a modest but real uptick. Year to date, condo closings are up 8.5% to 254, which is one of the better-performing segments in the state right now.

Pending condo sales jumped 9.7% to 68, which is encouraging for the near-term pipeline. That said, condo new listings fell 21.3% to just 155 — which helps explain some of the activity, as fewer listings can concentrate buyer interest on what's available.

The condo median price came in at $651,250, down 8.9% from $715,000 a year ago. Year to date, the condo median is $699,000, down 8.8%. Price softness in this segment has been persistent, and buyers are benefiting from it.

Condo inventory edged up 2.5% to 944 units, but months of supply dropped slightly to 15.4 — down from 16.4 last year. That's still a high number overall, but the trend is moving in the right direction for sellers. Days on market rose to 169 days (+17.4%), reflecting the longer search cycles condo buyers are taking.

Sellers received a median of 95.4% of list price — actually up slightly from 94.4% a year ago. That's a subtle but positive sign.

Kihei continued to dominate condo volume with 27 closings at a $552,000 median. Kaanapali posted 10 closings at $1,150,000 — the West Maui resort corridor is still moving. Wailea/Makena saw 5 closings at a $1,975,000 median, and Lahaina picked up 4 condo closings at $678,250 as that area's recovery continues.

What This Means for Buyers on Maui

If you've been watching Maui and waiting for the right moment, April's data reinforces that buyers have genuine leverage — particularly in the condo space. Prices are down, inventory is elevated, and homes are sitting longer. That gives you time to be deliberate, and room to negotiate.

Single-family buyers have more to work with than they did a year or two ago as well, with 7.7 months of supply and longer market times creating a more patient environment. The $1.1–$1.4 million range in Kihei and Central Maui remains the most active.

What This Means for Sellers on Maui

The condo market is actually showing some encouraging signs — sales are up year over year, and list-price-received ratios ticked up slightly. But sellers still need to be realistic about where pricing has settled. The days of setting a price above last year's comps and waiting for multiple offers are largely behind us in most segments.

For single-family sellers, the pending sales number is the one to watch. 64 pending sales in April means deals are being written — they just need to be priced right to get there. Homes that are move-in ready, priced with today's data, and marketed well are still finding buyers.

Maui Takeaway

Maui's market is finding its footing at a new level. Year-to-date numbers in both segments are actually holding up reasonably well — single-family sales flat and condos up. The monthly swing in SFH closings is more about timing than a structural shift. Pending contracts in both categories suggest May could tell a different story.

Kaua'i Real Estate Market: Sales Down, But Volume and Pricing Hold Surprises

Kauaʻi posted another month of declining transaction count in April — total sales fell 12.16% year over year, from 74 to 65 closings. Year to date, the decline is more pronounced at 25.17%, with 214 total transactions compared to 286 in the same period last year. On the surface, that's a soft market.

But the dollar story tells a different tale. April sales volume actually increased 5.32%, rising from $88.6 million to $93.3 million. More dollars on fewer deals — and the island-wide residential median price rose 2.02% to $1,135,000. Kauaʻi continues to be a market driven by quality over quantity.

Residential: Pricing Strength Across Most Districts

Island-wide residential closings dipped slightly to 32 (from 34), but the median rose to $1,135,000 — up from $1,112,500 a year ago. Year to date, the residential median has climbed 13.04% to $1,300,000. That's meaningful appreciation in a market where fewer transactions are happening.

By district, the story varies:

Koloa (South Shore/Poipu) was the standout. The residential median surged to $2,350,000, up 81.47% from $1,295,000 a year ago — driven by high-end South Shore closings. Koloa had 9 residential closings, making it one of the more active districts despite the elevated price point. YTD, the Koloa residential median sits at $1,400,000.

Hanalei (North Shore) posted 4 residential closings with a $2,124,500 median. Volume was up 52.27% year over year, with $7.8 million in residential sales. The North Shore continues to transact at premium levels, though the YTD median of $2,265,000 reflects some moderation from last year's highs.

Lihue saw its residential median jump to $1,325,000 (+32.17%), a notable move for the island's central hub. Only 3 closings, so the number can swing with individual transactions, but the direction is positive.

Kawaihau (Kapa'a corridor) saw its residential median dip to $950,000, down 9.52% from $1,050,000. With 11 closings, this district offers the most accessible residential pricing among the more populated areas of the island.

Waimea surprised to the upside with a $825,000 median on 5 closings — up 34.15% year over year. The West Side is seeing real price movement as buyers look beyond the more premium areas.

Condos: Fewer Sales, But Pricing Holds

Condo sales fell 25.0% to 21 closings from 28, with a flat to slightly positive median of $875,000 (+1.45% from $862,500). Year to date, the condo median is $800,000, down 13.51% from the elevated $925,000 seen in the same period last year.

Koloa condos saw a striking jump — the April median came in at $1,291,000, nearly doubling from $650,000 a year ago, driven by higher-end Poipu resort closings. Kawaihau condos also moved, posting a $700,000 median on 3 closings.

Hanalei condos had 5 closings at a $1,050,000 median, down from $1,185,000 — North Shore condo buyers are finding value relative to where pricing was a year ago.

Vacant Land: Volume Spike in Hanalei

Land sales dropped to 8 parcels (from 12), but total vacant land volume rose 32.67% to $14.3 million. The driver was Hanalei, where a single land transaction at $4.75 million median pushed significant volume through. Year to date, land transaction count is down 42.11% — this is the segment most impacted by rate sensitivity and the thinner buyer pool on Kauaʻi.

What This Means for Buyers on Kaua‘i

The Kauaʻi market rewards patience and preparation. Fewer listings are coming to market, and the buyers who do transact tend to be well-capitalized. If you're looking in the Kawaihau or Waimea areas, there's more accessibility and some negotiating room compared to South Shore and North Shore. Condo buyers on the North Shore may find some of the better relative value right now, with pricing off from 2025 highs.

High-end buyers targeting Koloa or Hanalei should know that motivated, well-priced properties are still trading — the market is thin but not frozen.

What This Means for Sellers on Kaua‘i

Residential pricing is actually holding up well — and in some districts, improving. The challenge is volume: there are simply fewer buyers at the table, and they are selective. If your property is well-positioned in Koloa, Hanalei, or Lihue, the pricing data supports confidence. Sellers in Kawaihau and the West Side may need to be more strategic on pricing to generate momentum.

Kaua‘i Takeaway

Kauaʻi continues to run on its own rules. Transaction counts are down, but pricing strength in the residential segment tells a more nuanced story. High-end buyers are still finding their way to the island, and when they close, the numbers reflect it. This is a patient market — for buyers and sellers alike.

Final Thoughts from Team Alaka'i

April's data reinforces something we keep coming back to: Hawai'i real estate is not one market. It's many markets layered on top of each other — by island, by property type, by price band, and by neighborhood. The headline numbers rarely tell the full story.

That's exactly why having local expertise matters. We work across O'ahu and the Big Island, and we stay current on every island's data so we can give our clients honest, accurate context, not guesswork.

Whether you're buying, selling, or just trying to make sense of what the numbers mean for your situation, we're here.

For families making long-term moves, this can be a healthier environment to buy or sell.

If you’re thinking about making a move in Hawai‘i and want help understanding what these trends mean for your specific island, neighborhood, or price point, Team Alaka‘i is here to help.