While real estate in most of the country is suffering, Oahu real estate remains strong, with low inventory and many sales. While the number of sales has dropped since last year, so has the overall inventory. The number of homes for sale on Oahu has dropped 19.3% since last year, from 2,311 down to 1,866. That is only a 5.5 months supply.
A very interesting comparison is to view the sales by region. Below I list the total sales and median prices in each region, with a comparison of last year to this year. It's listed in order from highest increase in prices to highest decrease in prices (far right column).
As you might expect, the higher priced areas like Hawaii Kai, Diamond Head, and Kailua rose most in price, while the lowest priced areas dropped. As the national and global economies remain weak, those most effected are those at the lowest income levels. Another factor may be the new construction that is available in West and Central Oahu, whereas East Oahu has nothing new available. It's basically built out.
| 2010 | 2011 | change | 2010 | 2011 | ||||
| Region | #Sold | #Sold | #Sold | %Change | Median | Median | Change $ | Change% |
| Hawaii Kai | 82 | 71 | -11 | -13% | $812,500 | $889,000 | $76,500 | 9% |
| Kailua | 128 | 124 | -4 | -3% | $760,000 | $797,500 | $37,500 | 5% |
| Diamond Head | 181 | 177 | -4 | -2% | $885,000 | $910,000 | $25,000 | 3% |
| Metro Honolulu | 143 | 159 | 16 | 11% | $667,000 | $671,000 | $4,000 | 1% |
| PearlCity | 79 | 95 | 16 | 20% | $580,000 | $580,000 | $0 | 0% |
| Ewaplain | 252 | 213 | -39 | -15% | $435,000 | $430,000 | -$5,000 | -1% |
| Kaneohe | 142 | 100 | -42 | -30% | $615,000 | $600,000 | -$15,000 | -2% |
| Central Oahu | 137 | 132 | -5 | -4% | $550,000 | $537,250 | -$12,750 | -2% |
| Waipahu | 107 | 95 | -12 | -11% | $515,000 | $498,000 | -$17,000 | -3% |
| Makakilo | 37 | 34 | -3 | -8% | $525,000 | $500,000 | -$25,000 | -5% |
| Leeward | 81 | 88 | 7 | 9% | $305,000 | $275,000 | -$30,000 | -10% |
| North Shore | 44 | 41 | -3 | -7% | $655,000 | $555,000 | -$100,000 | -15% |