Oahu Real Estate Market Report for April 2023

Oahu April Market Stats on an overhead shot of a mountainous island

The Oahu Real Estate statistics for April 2023 reveal a slight downturn in sales. However, despite the reduction in sales, properties sold in April spent less time on the market than in the previous month. My observations indicate that the market is softer than it was two years ago, with fewer buyers and sellers. I believe we are bouncing around the bottom of this market and this real estate market is going to ebb and flow with economic news.

When a bank goes under, buyers and sellers have hesitation. When there is positive economic news around inflation or interest rates the buying activity picks up. We appear to be moving sideways in our market, I'm guessing one or two months of increased activity and another one or two of slower activity.

Want to see the full market report? Click here to download the .pdf!

Oahu Single-Family Homes | Market Stats

Single-family home sales experienced a year-over-year decrease of 43.0%. Month-over-month sales saw a smaller decrease at 11.9%. The median sales price for a single-family home decreased by 9.5% from the same period last year to $999,950.

Single-Family Home Market Stats with a dining room on the right side

Although inventory levels are higher than a year ago, they have not increased this year and have actually weakened slightly month-over-month. The supply remains severely restricted. However, homes requiring work or repairs linger on the market, providing good buying opportunities for those willing to put in the hard work. This dynamic has resulted in 41% of single-family home sales receiving full asking price or more, with 25% of sales closing above the asking price.

Oahu Single-Family Home Market Stats with mountain on right side

Single-family homes spent a median of 24 days in April, down from 36 days in March. These figures reflect a fairly quick turnover compared to past markets, especially prior to the pandemic. 

Oahu Condos | Market Stats

Condo sales also slipped 37.5% year-over-year. Month-over-month sales for March 2023 saw a less severe decrease with a 5.4% fall.

Oahu condo market stats with living room overlaid on left side

Like the single-family home market, condo inventory levels have not increased this year despite being higher than a year ago. During April 2023, the condo market saw 44% of sales receiving full asking price or more, with approximately 22% of sales closing above the asking price.

Oahu condo market stats with beach overlaid on the left side

Condos spent a median of 20 days on the market in April, a decrease from 24 days in March. Condo prices slipped 2% to $500,000.

Inquire Now

With over 40% fewer people in the market for homes now, there are excellent opportunities for buyers. For sellers, carrying out repairs and renovations is key to maximizing your property's net worth - though remember, this is no substitute for personalized advice. Should you have any Oahu real estate needs or inquiries, we're here to assist. Fill out the form below to get started.

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107 Properties
Page 1 of 9
$5,200,000
Condo: Waiea - 1118 Ala Moana
3
Beds
2F11/2
Baths
2,032
Sq.Ft.
2016
Year Built
4
Days on Site
202311395
MLS
Discover Ward Village's flagship residence, Waiea at 1118 Ala Moana. Situated directly across from Ala Moana Beach Park & Kewalo Harbor, this ultra-luxury lifestyle destination puts nearby shops,...
$2,700,000
Condo: Hokua At 1288 Ala Moana
2
Beds
2
Baths
1,524
Sq.Ft.
2006
Year Built
6
Days on Site
202311213
MLS
Live, work and play in one of Kakaako's premier luxury condos. Magnificent views of the coastline and the Pacific Ocean, and enjoy breathtaking sunsets in front of your unobstructed view over Ala...
$4,300,000
Neighborhood: Kahala Area
4
Beds
4
Baths
3,193
Sq.Ft.
2011
Year Built
7
Days on Site
202310357
MLS
Experience luxury, in this open floor plan, 4 bedroom & 4 full bath, executive residence. A gated entrance off Kahala Ave opens to the private driveway, welcoming you home to a large 3 car garage w/...
$2,000,000
Condo: Trump Tower Waikiki
2
Beds
2
Baths
1,403
Sq.Ft.
2009
Year Built
8
Days on Site
202311247
MLS
Enjoy luxury living at 5 Star Trump Tower Waikiki Hotel/Condo! This 2 bedroom unit comes fully furnished with all linens & Kitchenware. Top notch amenities include infinity pool, concierge, valet...
$2,680,000
Condo: Azure Ala Moana
3
Beds
3
Baths
1,470
Sq.Ft.
2021
Year Built
10
Days on Site
202311182
MLS
Enjoy the cross breeze from this rarely available 3 bedroom corner unit offering you a wide living room with Ocean, City and Mountain views all gorgeously displayed through the floor to ceiling...
2
Beds
2
Baths
1,492
Sq.Ft.
2016
Year Built
11
Days on Site
202311007
MLS
NOW Available, high 8th Floor Residence in building 7 at Park Lane Ala Moana, Honolulu's preeminent luxury residential property. This stunning 2 Bedroom + Den Residence offers a convenient layout,...
$9,000,000
Neighborhood: Kahala Area
5
Beds
5F31/2
Baths
7,741
Sq.Ft.
2023
Year Built
13
Days on Site
202310367
MLS
Welcome to this stunning luxury all new architectural designed home located in the prestigious Kahala Ave. just steps away from the secluded Kahala Beach in Honolulu, Hawaii. This modern-designed...
$4,480,000
Neighborhood: Luna Kai
6
Beds
4F11/2
Baths
5,265
Sq.Ft.
2010
Year Built
14
Days on Site
202310855
MLS
Astonishing marina front home consisting of 6 Beds/4.5 Baths with easy access to boat dock. In law suite on the first level with separate entrance. An ocean lovers paradise with over 5,000 sqft of...
$5,000,000
Condo: Trump Tower Waikiki
3
Beds
3F11/2
Baths
2,050
Sq.Ft.
2009
Year Built
14
Days on Site
202310794
MLS
Luxury the 5 star-rated Trump Tower International Waikiki in the heart of Waikiki. A rare 3 bedroom unit on a higher floor with the great view of the ocean, Diamond Head and sunset. This particular...
$3,295,888
Neighborhood: Palolo
4
Beds
4
Baths
3,334
Sq.Ft.
2004
Year Built
15
Days on Site
202310779
MLS
Don't miss out on this once in a lifetime opportunity to call this tropical paradise home. Located on 4+ acres and with rental potential in the downstairs in-law suite and approved permits to build...
$4,300,000
Condo: Waiea - 1118 Ala Moana
3
Beds
2F11/2
Baths
2,015
Sq.Ft.
2016
Year Built
17
Days on Site
202310517
MLS
Experience a new level of luxury in prestigious Waiea in Ward Village, a total of 164 units in the building. This is a rare 3BD/2.5BA residence with a private glass foyer (130 sf) and breezy corner...
$4,200,000
Condo: Waiea - 1118 Ala Moana
2
Beds
2F11/2
Baths
1,976
Sq.Ft.
2016
Year Built
18
Days on Site
202310684
MLS
Welcome to Waiea the flagship tower in Ward Village. With only 171 units, Waiea provides the ultimate level of service and affords privacy like no other. The home offered is a spacious 2 bedroom and...

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