Aloha kakou,
Election Day is behind us, the surf contest is on at Haleiwa, and HONOLULU Restaurant Week starts Saturday. Whether you live on Oahu or are dreaming about a move from the mainland or Canada, here is everything we are watching this week: national real estate news, local market trends, island news, things to do, where to eat, and a look at life in Kailua.
Lester and The Salazar Group team
National real estate news
What's moving across the country
Rates fall for a third straight week
Freddie Mac's average 30-year fixed rate fell to 7.18% for the week ending November 5, down 0.06 points from 7.24% the week before (7.24 - 7.18 = 0.06). It is the third weekly drop in a row since rates reached their 2026 peak of 7.40% on October 8 and October 15, and it sits 0.22 points below that peak (7.40 - 7.18). The Federal Reserve left its benchmark rate unchanged on October 28. Rates are still about a point higher than a year ago, when they averaged 6.22% (7.18 - 6.22 = 0.96). These are national averages for borrowers with strong credit and 20% down; your own rate depends on your loan and credit.
Source: Freddie Mac Primary Mortgage Market Survey, November 5, 2026
What this year's rates mean for a payment
Rates started 2026 at 6.16% in early January, dipped to a low of 5.98% in late February, then climbed through the summer and fall. Here is what that means for a monthly payment on a $500,000, 30-year loan (principal and interest only):
- At 6.16% (January 8): about $3,049 a month
- At 7.40% (October peak): about $3,462 a month
- At 7.18% (this week): about $3,387 a month
That is about $338 a month more than in January ($3,387 - $3,049), but about $75 a month less than at the October peak ($3,462 - $3,387).
Rates: Freddie Mac PMMS weekly averages, January 8 to November 5, 2026. Payment math is ours, using the standard amortization formula: payment = P x r / (1 - (1 + r)^-360), with r = rate / 12.
More homes for sale, fewer new listings
Realtor.com's October housing report, released November 4, found 1,183,500 homes for sale nationwide, up 7.4% from a year earlier. At the same time, new listings fell 7.5% to 357,000 and the number of homes under contract fell 10.5%. The national median list price was $415,000, down 2.2%, and homes spent a median of 63 days on the market, one day longer than a year ago. About 20.5% of listings had a price cut. Senior economist Jake Krimmel described sellers' behavior as "more of a pause than an exodus."
Local market trends
Oahu market check
On the market this week
Counts from HiCentral MLS via our website search on November 4, 2026. They include some homes already under contract, so they run higher than the Honolulu Board of REALTORS® active-inventory figures below. We will show the week-over-week change starting next issue.
Last month: September 2026
Oahu single-family home sales rose 6.2% from a year earlier to 293, while the median price dipped 3.9% to $1,110,000. Homes sold in a median of 16 days, down from 26 a year ago, and 31% closed above the original asking price, up from 25%. Condo sales slipped 8.1% to 375, and the condo median rose 2.8% to $523,000. In the third quarter overall, single-family sales were up 9.3% and condo sales down 2.7% from a year earlier.
What it means: Well-priced homes are moving quickly, and nearly a third of single-family sales drew offers above asking. At the same time, 113 single-family homes (39% of sales) sold for under $1 million, and 175 condos (47% of condo sales) sold for under $500,000. Active inventory was 798 single-family homes (unchanged from a year ago) and 2,509 condos (up 7.8%). Changes are compared with September 2025.
Source: Honolulu Board of REALTORS® Monthly Stats Report and Oahu Local Market Update, September 2026, compiled from HiCentral MLS. Also see the Coldwell Banker Island Properties market reports.
Single-family homes by region, September 2026
This week's newsletter features the Windward and North Shore regions. Here is every region.
| Area | Median price | vs. Sept 2025 | Sold | Sold Sept 2025 | Median days on market |
|---|---|---|---|---|---|
| Aina Haina-Kuliouou | $1,490,000 | -1% | 5 | 3 | 24 |
| Downtown-Nuuanu | $1,087,500 | -10% | 10 | 9 | 13 |
| Ewa Plain | $984,444 | +8% | 52 | 51 | 20 |
| Hawaii Kai | $1,812,500 | +32% | 8 | 9 | 11 |
| Kailua-Waimanalo | $1,659,000 | -2% | 29 | 33 | 12 |
| Kalihi-Palama | $1,070,000 | +22% | 11 | 10 | 22 |
| Kaneohe | $1,300,000 | 0% | 22 | 17 | 9 |
| Kapahulu-Diamond Head | $1,290,000 | -7% | 22 | 13 | 18 |
| Makaha-Nanakuli | $625,000 | -3% | 23 | 22 | 18 |
| Makakilo | $1,030,000 | -26% | 13 | 5 | 13 |
| Makiki-Moiliili | $1,645,000 | +11% | 10 | 13 | 16 |
| Mililani | $1,100,000 | -7% | 13 | 10 | 13 |
| Moanalua-Salt Lake | $1,257,500 | +1% | 6 | 13 | 21 |
| North Shore* | $3,700,000 | +155% | 3 | 10 | 22 |
| Pearl City-Aiea | $1,110,000 | +5% | 24 | 20 | 10 |
| Wahiawa | $753,500 | -2% | 8 | 9 | 34 |
| Waialae-Kahala | $2,632,700 | +43% | 9 | 11 | 45 |
| Waipahu | $949,500 | -5% | 23 | 16 | 15 |
| Windward Coast* | $1,722,500 | +12% | 2 | 2 | 12 |
Ala Moana-Kakaako and Waikiki had no single-family sales in September 2025 or 2026.
Condos by region, September 2026
| Area | Median price | vs. Sept 2025 | Sold | Sold Sept 2025 | Median days on market |
|---|---|---|---|---|---|
| Ala Moana-Kakaako | $840,000 | +34% | 63 | 43 | 46 |
| Downtown-Nuuanu | $685,000 | +12% | 27 | 44 | 46 |
| Ewa Plain | $555,000 | -11% | 27 | 29 | 32 |
| Hawaii Kai | $782,500 | -22% | 10 | 12 | 29 |
| Kailua-Waimanalo | $750,000 | -11% | 7 | 12 | 37 |
| Kalihi-Palama | $460,000 | +12% | 9 | 6 | 19 |
| Kaneohe | $747,000 | +3% | 12 | 15 | 30 |
| Kapahulu-Diamond Head* | $550,000 | -18% | 4 | 10 | 68 |
| Makaha-Nanakuli | $169,500 | -26% | 16 | 12 | 73 |
| Makakilo | $509,500 | -3% | 8 | 14 | 19 |
| Makiki-Moiliili | $390,000 | +13% | 41 | 43 | 30 |
| Mililani | $535,000 | +19% | 25 | 21 | 35 |
| Moanalua-Salt Lake | $419,000 | +7% | 13 | 23 | 51 |
| North Shore* | $1,047,500 | +13% | 4 | 5 | 106 |
| Pearl City-Aiea | $420,000 | -17% | 28 | 18 | 26 |
| Waialae-Kahala* | $856,500 | -18% | 2 | 1 | 31 |
| Waikiki | $505,000 | +13% | 60 | 81 | 68 |
| Waipahu | $500,125 | +6% | 18 | 14 | 30 |
| Windward Coast* | $276,000 | -21% | 1 | 3 | 189 |
*Fewer than 5 sales in September 2026, so the median can swing widely from month to month. Aina Haina-Kuliouou and Wahiawa had no condo sales in September 2026. Regions are Honolulu Board of REALTORS® tax map key (TMK) areas. Source: Honolulu Board of REALTORS®, Oahu Local Market Update, September 2026, compiled from HiCentral MLS. Information deemed reliable but not guaranteed.
Hawaii government
Election results that touch housing
Gov. Josh Green wins a second term
Green and running mate Derek Kawakami, the outgoing Kauai mayor, led Republicans Gary Cordery and Daniel Anthony with about 75% of the vote in election-night printouts. Results are unofficial until certified. Hawaii Public Radio
Voters back RISE bonds
Constitutional Amendment 2 lets counties issue bonds for sewer, water and other infrastructure, repaid from the added property tax revenue that new development brings. It is a form of tax-increment financing, a tool used in 48 other states. Supporters see it as key to building homes near rail stations, including around Aloha Stadium. Civil Beat
Honolulu charter questions
Honolulu voters decided 20 charter amendments, several on housing. Ranked-choice voting for city elections was rejected, and a new Food Security Fund passed. Results roundup
Rail tax
Mayor Rick Blangiardi is asking state lawmakers to make the rail GET surcharge permanent. Hawaii News Now
Neighborhood spotlight
Living in Kailua
Kailua sits on Oahu's windward (east) side, over the Ko'olau mountains from Honolulu. It is a beach town with a walkable center of shops, cafes and a weekly farmers market, and it is home to Kailua and Lanikai beaches. Life happens outdoors here: paddling, biking, hiking and long beach walks.
Homes: Kailua is mostly a single-family market. In September, the Kailua-Waimanalo region had 29 single-family sales at a median of $1,659,000, and homes sold in a median of 12 days (Honolulu Board of REALTORS®). On November 4, 2026, there were 101 single-family homes listed in the city of Kailua, priced from $875,000 to $50 million, and 151 had sold in the past six months, at list prices from about $900,000 to $7.8 million (HiCentral MLS via our website search).
Schools: Kailua High and Kalaheo High are in the state Department of Education's Kailua-Kalaheo Complex Area. Check the schools for any address with the HIDOE school finder.
Explore our Kailua community guide
Island calendar, Nov 6 to 15
This weekend and next week
- Nov 5 to 14: HTA Haleiwa Pro. World Surf League contest at Haleiwa Alii Beach Park on the North Shore, run on days with good swell. Free to watch, or stream it at worldsurfleague.com.
- Nov 5 to 8: Hawaii Food and Wine Festival, Oahu weekend. Most tasting events are 21+ and sell out early. Tickets and schedule
- Sat Nov 7: Paddle for HUGS Pickleball Tournament. All levels, 8 a.m. to 5 p.m. at Pickles at Forte, Downtown Honolulu. $70, benefiting HUGS. Register
- Nov 7 and 8: Tabletop Oahu. More than 2,300 board games to try at the Hawaii Convention Center. Ages 7+, from $55. tabletopoahu.com
- Sun Nov 8: Kama'aina Sunday at Iolani Palace. Free entry for Hawaii residents, 9 a.m. to 2 p.m.; bring your Hawaii ID. iolanipalace.org
- Wed Nov 11: Veterans Day. State and federal holiday. Oahu's main ceremony is held at the National Memorial Cemetery of the Pacific (Punchbowl). Mahalo to all who served.
- Sat Nov 14: University of Hawaii football vs. North Dakota State. 6 p.m. at the Clarence T.C. Ching Athletics Complex in Manoa. hawaiiathletics.com
- Sat Nov 14: Holiday Sip + Shop at Kahala Mall. Shopping discounts with wine or mocktail tastings, 5 to 8 p.m. $60. Tickets
- Nov 6 to 15, Big Island: Kona Coffee Cultural Festival. The 55th edition of Hawaii's oldest food festival, with farm tours, tastings and the coffee-picking contest. konacoffeefest.com
- Through Nov 15, Neighbor Islands: Hawaii International Film Festival. Screenings continue on Maui, Molokai, Lanai and Hawaii Island. hiff.org
Event details from organizers and HONOLULU Magazine. Times can change; check with the organizer before you go.
Ono eats
Restaurant Week starts Saturday
HONOLULU Restaurant Week runs Nov 7 to 15. Restaurants across the island offer special prix fixe menus, including Hale 'Aina Award winners Arden Waikiki, Istanbul Hawaii and Botanico. See menus at hnlrestaurantweek.com
New this year
- Yakitori Torishin, Kakaako: omakase yakitori from the acclaimed New York shop, opened in March.
- Liliha Bakery, Waikiki Beach Walk: the local favorite's second Waikiki spot, opened in July.
- Mensho Hawaii, Kapolei: ramen on the west side, opened in May.
- Enkari, Kapahulu: one of the newest openings, from August.
Opening months from HONOLULU Magazine / Frolic Hawaii.
New on the market
Fresh listings and new developments
Mahana Ward Village in Kakaako, planned as the last tower in Ward Village, opened its sales gallery in August with 451 studio to three-bedroom homes across from Victoria Ward Park. Aloha State Daily
New Coldwell Banker Island Properties listings on Oahu this week:
| Home | Area | List price |
|---|---|---|
| 1515 Nuuanu Avenue #1956 | Nuuanu, Honolulu | $340,000 |
| 3161 Ala Ilima Street #206 | Salt Lake, Honolulu | $399,999 |
| 520 Lunalilo Home Road #334 | Hawaii Kai | $1,395,000 |
| 6370 Hawaii Kai Drive #63 | Hawaii Kai | $1,199,000 |
Listings courtesy of Coldwell Banker Island Properties, from HiCentral MLS as of November 4, 2026. Information deemed reliable but not guaranteed.
Thinking about a move? Let's talk story.
Whether you are buying your first home, selling, or investing from the mainland, our team takes the time to explain how Oahu works, from leasehold vs. fee simple to which neighborhood fits your life.
The Salazar Group | Premier Island Homes Hawaii
Lester A. Salazar (R), RB-23849, Broker and Team Leader
Adriana Fuamatu-Ma'afala, Buyer Specialist, Central and West Oahu
Shari-Lynne Aguilar, Listing Specialist
Mila Yee, Buyers and Sellers, Central and Metro Oahu
Coldwell Banker Island Properties, 95-1249 Meheula Pkwy, Suite D16, Mililani, HI 96789
Direct: 808-226-7530 | Lester@TheSalazarGroupHawaii.com
This post is for general information only and is not legal, tax or financial advice. Each Coldwell Banker office is independently owned and operated.