Olajuwon played for 20 consecutive seasons in the Houston area, first collegiately for the Houston Cougars and then the Rockets. He still maintains a home in the area, and is considered a local icon and one of Houston's most beloved athletes. Olajuwon has had great success in the Houston real estate market, with his estimated profits exceeding $100 million. He buys in cash-only purchases, as it is against Islamic law to pay interest. Since his career ended Olajuwon spends most of his time in Jordan where he moved with his family to pursue Islamic studies. He returns once or twice a year to visit his friends and former teammates such as Sam Cassell and Robert Horry, whose careers he follows. He keeps in regular phone contact with former Cougars and Rockets teammate Clyde Drexler.
In the 2006 NBA offseason, Olajuwon opened his first Big Man Camp, where he teaches young frontcourt players the finer points of playing in the post. While Olajuwon never expressed an interest in coaching a team, he wishes to give back to the game by helping younger players. When asked about how the league was becoming more guard-oriented and whether big men were being de-emphasized, Olajuwon responded, "For a big man who is just big, maybe. But not if you play with speed, with agility. It will always be a big man's game if the big man plays the right way. On defense, the big man can rebound and block shots. On offense, he draws double-teams and creates opportunities. He can add so much, make it easier for the entire team." Olajuwon has worked with several NBA players such as power forward Emeka Okafor, of the Charlotte Bobcats, and center Yao Ming of the Rockets, among others. He also runs the camp for free.