Waikiki Condo Market Analysis

Waikiki’s condo market in August 2026 reflects a buyer-leaning environment, though several indicators suggest that well-positioned properties are still attracting meaningful demand. Months of inventory rose 2.91% to 10.97 months, well above the six-month level generally considered balanced. This means buyers have a relatively broad selection of available condos and may face less pressure to make immediate decisions. For sellers, the elevated supply increases competition and makes accurate pricing, property condition, and presentation especially important.

Despite the amount of inventory, the sold-to-list price ratio improved 1.15% to 97.0%. On average, condos sold for approximately 97% of their final asking price. Because this figure is below 100% but above the 95% level often associated with stronger buyer leverage, it points to moderate negotiation rather than widespread deep discounting. Buyers may have room to negotiate based on a unit’s condition, time on market, and building-specific factors, while sellers whose properties are priced realistically may still secure offers relatively close to asking.

The median number of days on market declined 5.26% to 54 days, indicating that sold properties moved somewhat faster than in the previous period. This is a constructive signal for sellers, particularly given the high inventory level, but it does not mean every listing will sell quickly. Buyers should recognize that appealing, competitively priced condos can still attract timely interest, even in a market that generally offers them more choice and negotiating flexibility.

The median sold price fell 10.98% to $450,000. For buyers, the decline may create opportunities at more accessible price points, although monthly ownership costs—including maintenance fees, insurance, property taxes, leasehold obligations where applicable, and potential assessments—remain important considerations. For sellers, the lower median highlights the need to evaluate recent comparable sales rather than relying on earlier pricing expectations. It is also important to remember that Waikiki’s mix of studios, one-bedroom units, luxury residences, leasehold properties, and condotel inventory can cause the median to shift as the composition of sales changes.

Taken together, the data describes a market with ample inventory and a lower median price, both of which favor buyers, alongside improving sale-to-list performance and faster transaction times. That combination suggests the market is selective rather than uniformly weak: buyers can afford to compare options, but the best-priced properties may not remain available indefinitely. Sellers may need to compete more deliberately, yet the 97.0% sold-to-list ratio indicates that appropriately positioned listings can still achieve results near their asking prices.

Market conditions can change as interest rates, lending standards, insurance costs, visitor activity, building regulations, and other unforeseen factors evolve. Individual condominium buildings may also perform differently from the broader Waikiki market. For personalized guidance on how these trends may affect a specific purchase or sale, Christopher Breen can serve as a resource for evaluating current data, comparable properties, and building-level considerations.