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

Hawai‘i’s real estate market continues to shift across the islands, but each market is moving a little differently. On Oʻahu, single-family home demand remained steady while the condo market showed increased inventory and longer days on market. On the Big Island, overall sales activity has slowed, but home prices have remained relatively stable, suggesting demand is still present even as buyers become more cautious. Maui is seeing increased activity in some segments, particularly in the condo market, while prices have softened compared to last year. Meanwhile, Kauaʻi is showing a more selective market, where single-family homes continue to hold strong while condos and vacant land have experienced a noticeable slowdown.

Across the islands, the data suggests a market where transaction activity has slowed in several areas, but pricing in many segments remains relatively stable.

O‘ahu Real Estate Market: Single-Family Activity Rose While Condos Stayed Mixed

Based on the O‘ahu stats provided, the single-family home market showed more buyer momentum, while the condo market remained mixed.

Single-family closed sales rose 2.4% year over year, from 253 to 259 transactions. Condo sales dipped slightly, down 2.5%, from 401 to 391.

The median single-family home price came in at $1,105,500, down 1.5% from the year before. Condo median price rose 3.0% to $515,000.

One of the biggest signals in the report was pending sales. Single-family pending sales jumped 28.5% to 302, showing strong buyer activity. Condo pending sales were nearly flat, slipping just 1.0% to 406.

Inventory and Days on Market on O‘ahu

Inventory remained mixed.

Single-family active inventory stood at 790 homes, up 3.9% year over year. Condo inventory rose much more sharply to 2,412 units, up 28.4%.

Homes also took longer to sell. Median days on market rose to 22 days for single-family homes, up from 14 days a year ago. Condos took 48 days, compared to 28 the prior year.

That means buyers have a bit more time and a little more leverage than they did before, especially in the condo market.

What This Means for Buyers on O‘ahu

For buyers, the single-family market still showed plenty of activity, especially in the $900,000 to $1.2 million price range. At the same time, increased inventory and longer market times suggest buyers may have more negotiating power than they did during the most competitive stretch of the market.

Condo buyers may find even more options, especially with inventory elevated and days on market stretching out.

What This Means for Sellers on O‘ahu

For sellers, pricing and presentation matter.

Single-family homes are still moving, especially in the right price bands, but buyers are paying closer attention and taking more time. Condo sellers in particular may need to be sharper on pricing and condition, since buyers have more choices today than they did a year ago.

O‘ahu Takeaway

O‘ahu looked more balanced than overheated. Single-family demand remained solid, but condos saw more signs of a slower, more selective market.

Big Island Real Estate Market: Slower Sales, Stable Prices

The Big Island market in February 2026 showed a clear slowdown in transaction activity, but pricing remained surprisingly steady.

Total sales dropped from 353 in February 2025 to 276 in February 2026, a 21.8% decline. Year to date, sales were down 17.5%, falling from 703 to 580. Sales volume also declined, down 18.3% for the month and 12.2% year to date.

Even with that slowdown, the residential median price increased from $565,000 to $575,000, up 1.77%. Year-to-date median pricing was essentially flat, moving from $574,250 to $574,500.

That tells us something important. The market is slowing, but it is not collapsing. Fewer buyers are purchasing, yet the buyers still in the market are willing to pay close to current pricing.

Where the Slowdown Is Happening

The biggest softening on the Big Island is happening in vacant land and luxury resort areas.

Vacant land sales dropped from 162 to 103, a 36.4% decline. Sales volume in that category fell 53.7%. At the same time, the median land price jumped from $42,000 to $68,500, up 63%. That likely means fewer lower-priced lots sold, while a greater share of higher-priced parcels made up the market.

Entry-level residential areas like Puna appear to be holding up better than some of the higher-end segments.

What This Means for Buyers on the Big Island

For buyers, this is a healthier market than what we saw during the pandemic years.

There is less competition, more room to negotiate, and more listings sitting on the market longer. That can create opportunity, especially for buyers looking at vacant land, luxury properties, or homes that came out overpriced.

That said, waiting around for a major crash may not be realistic. Prices have been much more stable than sales activity.

What This Means for Sellers on the Big Island

Sellers can still do well, but they need to meet the market where it is today.

The biggest mistake right now is pricing based on 2021 or 2022 comps. Today’s market favors homes that are well-priced, move-in ready, and presented realistically. Overpriced listings are sitting longer, and buyers are more cautious than they were a few years ago.

Big Island Takeaway

The Big Island market is normalizing, not falling apart. We are seeing demand compression, likely tied to affordability and interest rates, but not the kind of drop that points to a price collapse. For long-term buyers and sellers, this is starting to look more like a balanced market.

Maui Real Estate Market Update: More Activity, But Prices Pulled Back

Maui’s February 2026 market showed an interesting mix. Closed sales across all property types increased 11.9% year over year, but the median sales price dropped 19.3% to $992,500. Inventory also rose 6.0%, giving buyers a bit more choice than they had a year ago.

Single-Family Homes on Maui

The single-family market showed improving buyer activity, but pricing softened.

Closed sales dipped slightly from 48 to 46, down 4.2% year over year. At the same time, pending sales rose 22.8%, which suggests more buyers are stepping into the market now than the closed sales number alone might show. New listings fell 20.0%, while inventory rose 4.4% to 448 homes. Days on market climbed from 126 to 156, and the median sales price dropped from $1,395,319 to $1,250,000, down 10.4%.

That tells us buyers are active, but they are taking more time and pushing back more on pricing.

Maui Condos: Sales Up, Prices Down

The condo market had stronger sales activity, but values were lower than a year ago.

Closed condo sales rose from 51 to 64, up 25.5% year over year. Pending condo sales also jumped 63.0%, which is a strong sign of current buyer interest. But the median condo price fell from $960,000 to $847,500, down 11.7%. Inventory increased 7.5% to 916 units, and months of supply remained very high at 14.9 months.

That usually points to a market where buyers have more leverage, especially in the condo space.

What the Maui Numbers Suggest

Maui does not look like a market that is freezing up. In fact, pending sales were up strongly in both single-family and condo categories, which suggests buyers are still out there. But prices have come down, homes are taking longer to sell, and inventory remains elevated.

In other words, Maui looks more like a market that is rebalancing.

What This Means for Buyers on Maui

For buyers, this may be one of the more favorable environments we’ve seen in a while.

There is more inventory, longer market times, and softer pricing in both major segments. Condo buyers in particular may have more negotiating room right now, especially with supply sitting at nearly 15 months

What This Means for Sellers on Maui

For sellers, this is a market where strategy matters.

Homes are still selling, and pending sales are encouraging, but buyers are being selective. Pricing too aggressively can hurt momentum, especially when inventory is up, and buyers have more options. Sellers who price realistically and prepare their property well should still have an opportunity.

Maui Takeaway

Maui’s market is showing stronger activity than the price numbers alone might suggest. Buyers are writing offers, especially in the condo market, but they are doing so with more leverage and more caution. This feels less like a hot market and more like a market that is finding its balance again.

Kaua‘i Real Estate Market: Fewer Sales, But Strong Residential Pricing

Kaua‘i is showing a more selective market right now.

Overall sales activity is down, but the residential segment is still showing real pricing strength. That tells us the market is thinner and more dependent on motivated, often higher-end buyers rather than broad-based momentum across every segment.

Island-wide sales fell from 61 to 50 in February, down 18.03% year over year. Year to date, sales dropped from 134 to 97, a 27.61% decline.

At the same time, February sales volume actually rose from $88.98 million to $96.25 million, up 8.16%. Year-to-date volume, however, was down 24.65%.

That mix tells us February likely had some larger closings that helped boost total dollar volume even though fewer transactions happened overall.

Single-Family Homes on Kaua‘i Are Still Holding Strong

Residential sales in February were flat at 32 closings, but pricing moved up in a big way.

The February median residential price rose from $1.059 million to $1.369 million, up 29.27%. Year to date, the residential median increased from $1.2 million to $1.325 million, up 10.42%.

That is a strong sign that well-located single-family homes on Kaua‘i are still holding value.

Condos and Land Show Clearer Softness

The condo market had a much tougher month.

February condo sales dropped from 19 to 11, down 42.11%. Year to date, condo sales fell from 50 to 33, down 34%. Condo volume fell 67.2% in February, and the median condo price dropped from $979,000 to $636,700, down 34.96%.

Vacant land also slowed meaningfully. Year-to-date land sales dropped from 18 to 10, down 44.44%, while the year-to-date median land price fell from $1.4445 million to $825,054, down 42.88%.

So while the residential home market is still showing strength, condos and land are clearly feeling more pressure.

What This Means for Buyers on Kaua‘i

Buyers have more breathing room than before, especially in condos and land.

If you are shopping for a single-family home, this is not necessarily a discount market. Strong homes in desirable locations are still commanding strong numbers. But with overall transaction activity down, buyers may have a better chance of negotiating repairs, credits, or more favorable terms.

Condo buyers may have one of the better opportunities right now, since that segment has shown the clearest cooling.

What This Means for Sellers on Kaua‘i

For sellers, the message is simple: know your segment.

If you own a strong single-family home in a desirable area, the market still supports solid pricing. But if you are selling a condo or property in a softer category, buyers are more selective now. Pricing too aggressively can cost you momentum quickly.

This is no longer a market where every listing gets pulled upward just because the overall market is hot. It is much more property-specific.

Kaua‘i Takeaway

Kaua‘i is not crashing. It is slowing, but in a very segmented way. High-quality homes in prime locations are still performing well, while condos and land are showing more softness. It is a market that needs careful interpretation, especially because a few luxury closings can heavily influence island-wide numbers.

What This Means Across Hawai‘i

Across these islands, the market is not moving in one straight line.

The Big Island is seeing fewer deals but stable pricing. Kaua‘i is split, with strong single-family pricing but softer condos and land. O‘ahu continues to show steady demand in single-family homes while condos face more competition and longer selling times.

That is why looking only at headlines can be misleading. Hawai‘i real estate is still deeply local. Island, neighborhood, property type, and price point all matter.

Final Thoughts

If there is one takeaway for buyers and sellers right now, it is this: Hawai‘i’s market is normalizing.

We are seeing fewer frenzy-style conditions and more balanced decision-making. That can actually be a good thing. Buyers have more room to think and negotiate. Sellers can still succeed, but they need to price strategically and understand today’s market instead of yesterday’s.

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.