Oahu Luxury Real Estate Market Report: March 2026

March brought a noticeable shift in Oʻahu’s luxury single‑family home market, marked by a surge in sales activity but also signs of more selective buyer behavior.

Luxury Home Overview

Closed sales rose sharply to 47, up 34.3% from February. This is highest sales volume since October 2025. Median price climbed 21.3% to $2.85M, the highest it’s been since September 2023. Yet the market also slowed in pace, with days on market stretching to 101 days, nearly double February’s speed. Buyers negotiated more firmly in March. The average list‑to‑sold ratio dipped to 95.2%, and the share of homes selling at or above asking fell from 40% to 25.5%.

Price per square foot softened by 6.1%, and price reductions became more common, rising to nearly one‑third of all sales. Inventory and escrow activity as of early April showed very little change across most price points. However, there was notable increase in pending sales in the $3M–$5.9M range, twice the amount compared to a month ago. Taken together, March reflects a luxury market where demand is present, especially in the mid‑luxury tiers, but buyers are taking more time, negotiating harder, and responding quickly only to properties that are priced with precision.

Luxury Condo Overview

Oʻahu’s luxury condo market softened in March. Closed sales declined to five units from seven, and the median price fell to $2.4M after February’s 8-month high. Luxury condos took about three weeks longer to sell in March than last month. Price per square foot also decreased significantly, dropping 28.5% to $1,778.05. Price reductions remained modest and unchanged in count, though they represented a larger share of the smaller pool of sales. Despite the lower price points, buyers continued to negotiate, with no units selling at or above asking for the second month in a row. However, the listing to sold price ratio increased in March compared to February.

Inventory and escrow activity shows steady pending activity and minimal shifts in supply across most price ranges. Notably, the $6M–$9.9M tier saw a jump in pending sales from 2 to 6 luxury condos in escrow. This is a large increase for a small number of units at this price point. Overall, March reflects a recalibration after February’s standout prices, which were skewed by several condos with high sales prices and prices per square foot. Buyers remain engaged, but pricing sensitivity and selectivity continue to shape the luxury condo landscape.