Single-family home prices on Oahu reached their highest in nearly five years last month. Realtors are optimistic that trend could continue through the summer. 

The AP reports:

The median price for an Oahu single family home last month was $664,000, an 11.6 percent increase compared to May 2011.

The Honolulu Board of Realtors says that’s a high since June 2007. …

Board President Joe Paikai says a large number of luxury home sales resulted in prices peaking at $664,000. He says an increase in pending sales for single-family homes and condos makes the board optimistic about the summer.