Oahu saw a decrease of about 15% in the median price for single family prices for the month of May 2009 compared to 2008. Condos were down about about 10% for same period.
| Oahu home sales May 2008 vs. 2009 | |||||
| Homes Sold | |||||
| Neighborhood | 2008 | 2009 | Median Sale Prices | ||
| Honolulu | 24 | 11 | $ 849,500 | $ 725,000 | |
| Waialae-Kahala | 8 | 12 | $ 1,567,500 | $ 1,367,500 | |
| Kapahulu-Diamond Head | 19 | 14 | $ 750,000 | $ 690,000 | |
| Hawaii Kai | 18 | 13 | $ 798,900 | $ 750,000 | |
| Aina Haina-Kuliouou | 8 | 7 | $ 760,000 | $ 1,246,500 | |
| Kailua-Waimanalo | 16 | 19 | $ 945,000 | $ 700,000 | |
| Kaneohe | 8 | 7 | $ 662,000 | $ 595,000 | |
| Moanalua-Kalihi | 8 | 13 | $ 599,500 | $ 540,000 | |
| North Shore | 2 | 4 | $ 572,500 | $ 762,000 | |
| Wahiawa | 7 | 7 | $ 665,000 | $ 425,000 | |
| Mililani | 22 | 27 | $ 606,300 | $ 565,000 | |
| Makaha-Nanakuli | 15 | 17 | $ 320,000 | $ 260,000 | |
| Ewa-Kapolei-Ko Olina | 36 | 34 | $ 472,500 | $ 415,000 | |
| Makakilo | 9 | 11 | $ 600,000 | $ 510,000 | |
| Waipahu | 23 | 15 | $ 585,000 | $ 485,000 | |
| Pearl City-Aiea | 16 | 16 | $ 607,000 | $ 495,000 | |
The interest rates have creeped back up from the lows and lenders have tighted their lending guidlines including requiring a higher credit score (FICO). The interest rates are still near historic lows and with the drop in prices there are definately some great deals to be picked up.