If someone were to ask me about the current state of Momo's and Okarun's relationship ...
... I'd totally tell them that they're finally a couple now!
And I guess you might even argue that the two of them have gradually become a couple over time and there is no specific point in time of it starting (holding hands "because it's cold" --> Momo asking Okarun whether he has a guilty conscience for being kissed by Vamola --> holding hands without making up excuses --> ...). But what clearly points to them definitely being a couple as of the Pygmy Princess arc is Momo, after asking Okarun to postpone his confession to her once more, being obviously keen on reassuring him by first telling him not to cheat on her (you can only cheat if you're in a relationship) and then - by reacting to the obviously confused Okarun saying "but we're not even going steady yet" with "so you DO intend to cheat" - reinforces her thinking of him being her boyfriend now by making it clear to him that any denial of their couple status will not be considered a sign of confusion but rather an excuse to cheat on her. And again, him being able to cheat on her means she's already his girlfriend.
While this first and foremost speaks for Momo thinking of them as a couple, it somehow goes almost without saying that Okarun is on board with it. I mean, he just recently told her that he loves her and he's very straight-forward to her in this arc about how much she means to him ("I'm SUPER worried about you.", rushing back to her after his sports class).
This is then further reinforced by her later in the arc glaring at him without the need to explain why when he is too chummy with Aira. In the past, she would always come up with some kind of excuse for being jealous. But in this scene - since they are both clear on being boyfriend and girlfriend now - there's really no need at all anymore for the first time. They understand each other without the need for talk.
So ... what's now still missing from this amazingly romantic adventure is (1.) them being a little more verbally direct with each other about obviously being in a relationship, (2.) them letting the gang in on the two of them being an item now, (3.) them having their love-dovey confessions while being able to hug/kiss/whatever each other, (4.) them finally closing the last bit of distance by maybe loosing the "Ayase-san"/"Okarun" and being able to hold eye contact and (5.) them obviously going on ever further adventures with their relationship steadily growing.
I can't wait for the story to continue 😃