Hawaii Housing Market Update: November 2026 — Half of Oahu Condos Sell Under $500,000

By Robert Koncal, owner of Hawaii Property Buyers LLC · Updated November 6, 2026

The Hawai’i housing market in November 2026 favors buyers in condos and sellers in move-in-ready houses. According to the Honolulu Board of REALTORS, the O’ahu condo median fell 6.7% year over year in October to $499,000, and half of all condo sales closed under $500,000. The O’ahu single-family median slipped just 1.1% to $1,150,000, and houses sold in a median of 15 days. Freddie Mac’s 30-year fixed rate eased to 7.18% on November 5, its third straight weekly drop, but it is still nearly a full point above a year ago.

The short answer for sellers: O’ahu houses are still moving fast, O’ahu condos now face about seven months of competing listings, and the neighbor islands remain small, uneven markets.

Key Takeaways

• O’ahu condos dipped below $500,000. The October median was $499,000 (-6.7% YoY) on 339 sales (-23.5%). Half of condo sales, 171 units, closed under $500,000 (Honolulu Board of REALTORS).
• O’ahu houses held up. The October single-family median was $1,150,000 (-1.1% YoY). Median days on market fell to 15 from 26, and one in three houses sold above asking.
• The condo drop looks worse than it is. October 2025 was the strongest condo month of the past year, for both sales and price. Against the 12-month average of about 361 sales, October’s 339 is only about 6% lower (our analysis of Title Guaranty data).
• Rates are easing, slowly. Freddie Mac’s 30-year fixed averaged 7.18% on November 5, 2026, down from 7.40% on October 8 but up from 6.22% a year ago.
• Lahaina rebuilding keeps moving. Maui County’s dashboard shows 631 homes completed and 415 under construction as of November 2, 2026.

Hawai’i Housing Market by Island: Latest Official Numbers

As of November 6, 2026, October board figures are out for O’ahu only. For Maui, Hawai’i Island and Kaua’i, the latest official figures are for September 2026. Each row shows its month.

Sources: Honolulu Board of REALTORS (Nov 6, 2026); Title Guaranty Statewide Housing Statistics, September 2026 (from each island’s board of REALTORS); REALTORS Association of Maui via Maui Now (Oct 9, 2026). Months of supply was not published in any of these releases.

One caution: small islands mean small samples. Kaua’i closed just 6 condos and 18 houses in September, so one or two sales can swing the median by six figures.

O’ahu: Houses Stay Quick, Condos Get Cheaper

According to the Honolulu Board of REALTORS, 239 single-family homes closed on O’ahu in October 2026, down 8.4% from a year earlier. The median price slipped 1.1% to $1,150,000, up from $1,110,000 in September. Houses sold in a median of just 15 days, compared with 26 days last October. One in three closed above asking, up from one in four a year ago.

Under the surface, the pipeline is thinner. Pending single-family sales fell 16.2% to 218, and new listings fell 2.6%. Active inventory rose 3.9% to 805 homes. Pending sales usually close within a month or two, so November closings could come in soft. Year to date, the single-family median is still up 2.6% to $1,180,000, and sales are up 4.3%.

Condos are a different market. Sales fell 23.5% to 339, and the median dropped 6.7% to $499,000. Condos took a median 49 days to sell, up from 44. Active inventory rose 7.0% to 2,506 units, while pending sales fell 3.1% to 313. Year to date, the condo median is unchanged at $510,000, and sales are down 4.9%.

The Board’s release focused on affordability. Half of condo sales closed under $500,000, and 37% of single-family sales closed under $1 million. Among active listings at the end of October, 49% of condos (1,218 units) were priced under $500,000, and 28% of houses (224 homes) were priced under $1 million. “Higher mortgage rates compared to a year ago are putting additional pressure on buyers’ budgets,” said Aaron Tangonan, president of the Honolulu Board of REALTORS.

Our analysis: why the condo drop looks bigger than it is

A 23.5% sales drop sounds alarming, so we checked it against the past year. Title Guaranty’s monthly table shows that October 2025 was the high point of the past 13 months for O’ahu condos, with 443 sales and a $535,000 median. Any month would look weak next to it.

• Sales: The 12 months from October 2025 through September 2026 averaged about 361 condo sales a month. October 2026’s 339 is about 6% below that average, not 23.5%.
• Price: $499,000 is not a new low for the period. The November 2025 median was $487,500, and the median was $500,000 in both February and April 2026.

So O’ahu condos are soft, but not falling off a cliff. Year to date, the median has not moved.

Our analysis: O’ahu inventory-to-sales ratio

The Board did not publish months of supply for October, so we calculated a simple version ourselves: active listings divided by that month’s closed sales.

• Single-family: 805 active ÷ 239 sold = about 3.4 months of inventory, up from 2.7 in September.
• Condos: 2,506 active ÷ 339 sold = about 7.4 months of inventory, up from 6.7 in September.

A widely used real estate rule of thumb treats about six months of supply as a balanced market. By that yardstick, O’ahu houses still lean toward sellers, while condos have moved further toward buyers. If you own an older condo with rising fees or a pending special assessment, you are competing with far more listings than a house seller is.

Maui: Waiting on October

The REALTORS Association of Maui had not published October figures when we went to press, so these are the latest available. In September 2026, 72 condos sold in Maui County, up from 46 a year earlier, at a median of $660,000 (+1.1%). The median condo took 199 days to sell. Single-family sales fell 7.1% to 52, and the median dropped 11% to $1.15 million. Houses took a median 134 days to sell.

Year to date through September, per Title Guaranty, Maui condo sales are up 21.1% to 620, but the condo median is down 6.8% to $655,000. Single-family sales are up 1.9% to 537, and the median is down 6.2% to $1,219,000. In short, more units are selling on Maui, at lower prices.

Two policy stories still hang over the island. First, Bill 9 (Ordinance 5909) phases out short-term rental use in apartment-zoned Minatoya List units by January 1, 2029 in West Maui and January 1, 2031 elsewhere in the county. Second, the Lahaina rebuild continues. Maui County’s recovery dashboard shows 631 homes completed (318 single-family, 313 multifamily) as of November 2, 2026, up from 614 a month earlier. Another 415 are under construction, 672 have issued permits, and 762 have permits being processed.

For a closer look at selling on the Valley Isle, see our guide to the easiest way to sell a house on Maui. If your property was affected by the August 2023 fires, our page on selling a fire-damaged house in Hawai’i walks through insurance gaps and options with care.

Hawai’i Island (Big Island): A Sharp One-Month Drop

According to Title Guaranty’s compilation of Hawai’i Island board data, 137 single-family homes sold in September 2026, down 20.8%, at a median of $499,000, down 14.6%. Thirty-two condos sold, down 34.7%, at a median of $604,500, down 5.5%.

Don’t read too much into one month. In August, the same report series had the island’s single-family median at $577,500, up 10.3%. Year to date through September, the single-family median is $555,000, down just 0.9%, on 1,474 sales, down 3.4%. The mix of homes that close each month, from Puna to Kona, moves this number a lot.

The Big Island remains the state’s most affordable house market, at less than half the O’ahu median in September. If you own in Puna or Ka’ū, our guide to selling property in a lava zone explains how insurance and financing affect buyers.

Kaua’i: Very Few Sales, Big Swings

Kaua’i had a very quiet September. Per Title Guaranty, just 18 single-family homes sold, down 51.4%, at a median of $1,490,000, up 11.2%. Only 6 condos sold, down 64.7%, at a median of $726,500, down 11.4%.

Year to date is a better guide here. Through September, the single-family median is $1,300,000, up 8.3%, on 257 sales, down 13.8%. The condo median is $845,000, down 3.4%, on 159 sales, down 24.3%. Fewer sales at higher house prices suggests the top of the market is carrying the median. For Kaua’i owners of modest, older homes that need work, expect a longer wait than the headline number suggests.

Mortgage Rates: Three Weeks of Relief

According to Freddie Mac’s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 7.18% on November 5, 2026, down from 7.24% the week before and its third straight weekly decline. A year ago it was 6.22%. The 15-year fixed averaged 6.57%, compared with 5.50% a year ago.

Here is what that means in real dollars. Using the October O’ahu single-family median of $1,150,000 and 20% down, we calculated principal and interest on the $920,000 loan:

Hawaii Property Buyers calculation. Excludes taxes, insurance, HOA fees and mortgage insurance.

That’s about $585 more per month than a year ago for the same median-priced O’ahu house, though about $138 less than a month ago. For the median O’ahu condo at $499,000, the same math adds about $254 a month compared with a year ago.

Policy Watch: State Mortgage Help for First-Time Buyers

The Hale Kama’āina Mortgage Program, run by the Hawai’i Housing Finance and Development Corporation (HHFDC), offers below-market 30-year fixed loans to eligible first-time buyers. According to the Honolulu Board of REALTORS, the program had 69 closed loans and 85 approved as of September 30, 2026, with about $38 million reserved. Its first $30 million ran out in July, and another $53.8 million has been made available. For sellers of lower-priced homes and condos, this is one more pool of buyers who may be able to afford today’s prices. Our Hawai’i property tax guide for sellers explains what you’ll owe at closing.

What the November 2026 Market Means for Sellers

This market rewards move-in-ready homes priced right. It is harder on homes that need work and owners short on time.

If your house needs repairs

At rates above 7%, financed buyers have less cash for repairs, and lenders may balk at homes with major defects like termite damage or unpermitted work. The fast sales in the numbers above are mostly homes that are ready to go. We buy as-is, so you skip the repair bills and the showings. Learn more on our sell your house as-is in Hawai’i page.

If you inherited a property

Heirs often pay taxes, insurance and upkeep on a house they don’t use. With O’ahu condos at about 7.4 months of inventory by our math, an inherited condo may take a while to sell on the open market. Start with our guide, I inherited a house in Hawai’i — now what?, then see our inherited house selling options.

If you’re behind on mortgage payments

With rates still above 7%, refinancing is less likely to help. The good news: O’ahu houses are selling in a median 15 days, so many owners have equity they can protect by selling before a foreclosure moves forward. Our page on selling a house when you’re behind on payments lays out a month-by-month timeline, and how to avoid foreclosure in Hawai’i covers every option, including ones that don’t involve us.

Compare paths in our breakdown of a cash buyer vs. a realtor in Hawai’i. For the longer view, see our Hawai’i housing market forecast for 2026 and last month’s October 2026 market update.

Whatever you decide, we’re happy to give you a no-obligation number to compare. Call (808) 940-3430, and we’ll handle all the details on your timeline.

Frequently Asked Questions

Are home prices going down in Hawai’i?

It depends on the island and property type. In October 2026, the O’ahu condo median fell 6.7% and the single-family median fell 1.1% year over year. Year to date, the O’ahu single-family median is still up 2.6%, and the condo median is flat. Maui medians are down about 6% to 7% year to date through September.

What is the median home price on O’ahu right now?

According to the Honolulu Board of REALTORS, the O’ahu single-family median was $1,150,000 in October 2026, and the condo median was $499,000. Single-family homes sold in a median of 15 days, and condos in 49 days.

What are mortgage rates in November 2026?

Freddie Mac reported a 30-year fixed average of 7.18% on November 5, 2026, down from 7.24% a week earlier but up from 6.22% a year ago. The 15-year fixed averaged 6.57%.

Is it a good time to sell a house in Hawai’i?

For move-in-ready O’ahu houses, demand is still strong, with homes selling in about two weeks and one in three closing above asking. For condos, homes that need repairs, and most Maui and Kaua’i properties, buyers have more choices and more time. A cash sale can make sense if you need certainty or want to skip repairs.

Is it a buyer’s market for O’ahu condos?

By our math, yes, it leans that way. O’ahu had 2,506 active condo listings and 339 sales in October, or about 7.4 months of inventory. About six months is a common rule of thumb for a balanced market. Half of October condo sales closed under $500,000.

How does Maui’s Bill 9 affect condo owners?

Bill 9 (Ordinance 5909) ends short-term rental use in apartment-zoned Minatoya List units by January 1, 2029 in West Maui and January 1, 2031 elsewhere in Maui County. Affected owners will need to switch to long-term rentals, live in the unit, or sell.

Sources

• Honolulu Board of REALTORS, “O’ahu Buyers Find Opportunity in October as Half of Condos Sell Under $500,000” (Nov 6, 2026): honolulu-board-of-realtors.prezly.com
• Title Guaranty, Statewide Housing Statistics, September 2026 (source: respective islands’ boards of REALTORS): tghawaii.com (PDF)
• REALTORS Association of Maui September 2026 data, via Maui Now, “Maui County condo sales jump in September as single-family sales decline” (Oct 9, 2026): mauinow.com
• Freddie Mac, Primary Mortgage Market Survey (Nov 5, 2026): freddiemac.com/pmms
• County of Maui, Wildfire Recovery Dashboard (updated Nov 2, 2026): mauirecovers.org
• Hawai’i Housing Finance and Development Corporation, Hale Kama’āina Mortgage Program: dbedt.hawaii.gov
• Rental Scale-Up, “Maui Bill 9 Becomes Law: What Ordinance 5909 Actually Does”: rentalscaleup.com

About the author: Robert Koncal is the owner and operator of Hawaii Property Buyers LLC, a locally owned cash home buying company based in Honolulu since 2021. Market data in this post is reported by the sources listed above; calculations labeled as ours are for illustration only and are not financial advice.