May 2019 Oahu Real Estate Market Update


Oahu condominium sales ticked upwards in May according to resales figures released today by the Honolulu Board of REALTORS®. The analysis conducted by the Board using data collected from its computerized Multiple Listing Service (MLS) system show the following statistics:

Single-Family Home Resales

Number of Sales Median Sales Price
May 2019 320 $770,000
May 2018 332 $778,000 -1.0%

Condominium Resales

Number of Sales Median Sales Price
May 2019 520 $417,500
May 2018  495 $430,000 -2.9%


During May 2019, condominium sales increased by 5.1 percent from May 2018, while single-family home sales decreased by 3.6 percent. Total sales volume in May increased by 1.6 percent, the first year-over-year gain since July 2018. The median prices paid for single-family homes decreased modestly by 1.0 percent to $770,000, while the median price for condos dipped by 2.9 percent to $417,500. New listings increased from the same time period last year for both single-family homes and condominiums by 5.2 percent and 7.1 percent, respectively. According to the Days on Market indicator, the median days for single-family homes was 21 and 27 for condominiums.

“The Oahu housing market is experiencing activity similar to that being seen nationally, especially in major metropolitan areas, with moderate shifts in both median prices and sales, along with increases in available inventory,” said Jenny L. Brady, President of the Honolulu Board of REALTORS®. “The 30- year fixed mortgage rate recently fell below four percent for the first time since January 2018, which may drive consumers to make home purchasing decisions as we move into the summer months.”

The information contained in this report is provided to the National Association of REALTORS® and the Hawaii State Department of Economic Development, Business and Tourism for its official reports. This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow.

The public is encouraged to visit to see what’s happening in the housing market. Consumers have the ability to browse Oahu single-family home and condominium listings, available for sale and for rent, and to see a comprehensive guide of homes that will be open to visit this Sunday. All searches can be done by geographic location and/or price range, and provides useful information about buying and selling real estate in Hawaii.

About the Author

Brandon Lau grew up in Kailua and currently resides in Honolulu with his wife Andee and children Caylah, Elijah, and David. His eighteen years in real estate led him to become a Partner at ChaneyBrooks Choice Advisors. Over the past 10 years he has developed the team and systems that has created a high level of service and value for his clients.

What differentiates Brandon and his team is his consultative approach to real estate. He advises clients with relevant data and expert insight to help them make the best choices in real estate. Good choices in planning for long term dispositions, negotiating for the best price or knowing when not to pursue an investment are ways his consultative services will give you an advantage in the marketplace. His bottom line is providing service with the utmost integrity and expertise.