Waikiki Condo Market Analysis

Waikiki’s condo market in July 2026 reflects a buyer-leaning environment, although several indicators show that demand remains active for well-positioned properties. Months of inventory rose 13.74% from the previous period to 11.26 months, well above the six-month level generally considered a balanced market. This suggests buyers have a relatively broad selection and more time to compare properties, while sellers face increased competition and may need to be realistic about pricing, condition, and presentation.

The sold-to-list price ratio was 95.9%, down 0.35% from the previous period. In practical terms, condos sold for about 95.9% of their final asking price on average. That indicates some room for negotiation, but because the ratio remains above the 95% threshold often associated with stronger buyer leverage, it does not point to deep discounting across the entire market. Buyers may have opportunities to negotiate, particularly on listings that have been available longer, while sellers with desirable, accurately priced units can still expect offers reasonably close to asking.

Median days on market declined 18.57% to 57 days, meaning properties sold more quickly than in the previous period. This faster pace may seem at odds with the high inventory level, but the two measures can coexist: buyers have many choices overall, yet attractive condos can still move promptly when their pricing and features align with current demand. Buyers should therefore avoid assuming every listing will remain available indefinitely, while sellers can take some encouragement from the improved sales pace.

The median sold price fell 2.79% to $505,500. For buyers, the decline may improve access to the Waikiki condo market or create opportunities to pursue units that previously felt out of reach. For sellers, it underscores the importance of relying on recent comparable sales rather than older pricing expectations. Because the median reflects the midpoint of closed transactions, the change may also be influenced by the mix of units sold and does not mean every condo declined by the same amount.

Taken together, the July figures suggest a market that favors buyers primarily because of abundant supply, but not one in which demand has disappeared. Rising inventory and a lower median price provide buyers with choice and negotiating flexibility, while shorter marketing times show that competitively positioned properties continue to attract attention. Sellers may benefit from thoughtful preparation and pricing, and buyers should evaluate not only price but also leasehold or fee-simple status, maintenance fees, building condition, insurance considerations, and any restrictions affecting use.

Market conditions can change as a result of interest rates, insurance costs, economic shifts, regulatory developments, seasonal demand, and other unforeseen factors. Individual buildings and units may also perform differently from Waikiki-wide statistics. For personalized guidance on how these trends may apply to a specific purchase or sale, Christopher Breen is available as a resource to help interpret the market and discuss appropriate next steps.