Single-Family Homes
The Oahu luxury market saw triple digit increases in sales volume for single-family homes compared to 2020 (418%) and 2019 (307%) with 57 luxury homes sales. This is by far the highest number of sales in recent years. Since January 2017, luxury home sales typically range between 15-25 sales per month. The highest pre-pandemic sales volume month was September 2018, which had 29 sales. Median price decreased by 11.8% compared to last May when there was an $18M sale. Homes sold 25 days faster than last May and 56 days faster than May 2019. 63% of homes sold above asking price and overall, the homes received an average of 101% of their listing prices; both of these statistics are much higher than May 2020 and 2019.
Highest Sold Single-Family Home
Portlock, Hawaii Kai
4 bedrooms | 5.5 baths | 8,427 square feet living | 1.5 acres land
Why this property is spectacular: This oceanfront estate has over 200 linear feet of ocean frontage and stunning views. It comprises two additional land parcels and offers the opportunity to build your own private retreat.
Sold at: $8,000,000 to the co-founder of a data company after 260 days on market.
*Property photo from Honolulu Board of Realtors
Condominiums
The condominium market has been gaining momentum over the past few months and sales volume was the highest we’ve seen since the start of the pandemic and on par with typical pre-pandemic numbers. There were 12 condo sales this month, a 500% increase over the 2 sales last May. With the exception of the major sales of units in Park Lane and Anaha in 2017, the highest number of sales per month since January 2017 was 16 sales in both April and June of 2018. Median price of condos decreased, and condos sold more slowly than in May of 2020 but they received an average of 96% of list price and 16% of the sales were above asking price. As with single-family homes, both of these statistics are higher than May 2020 and 2019.
Highest Sold Condo
Park Lane, Ala Moana
3 bedrooms | 3.5 baths | 2,345 square feet living
Why this property is spectacular: The floor-to-ceiling windows offer panoramic views of Ala Moana Beach Park and the ocean. This Ocean Residence home has been upgraded with furniture and design by Philpotts Interiors, Blue Print Audio Visual, and curated fine art by Kelly Sueda.
Sold at: $6,350,000 to the president of an investment company and his family after 350 days on market.
*Property photo from Honolulu Board of Realtors