Real property values are on the rise in every market segment

What’s more, we’re seeing a second home market whose property owners aren’t desperate to sell, with buyers and sellers who want the ability to negotiate. The result is overall inventory that is slow growing, which we may experience more of in 2023.

The trends of working from home, or even partially “remote” companies, and the drive to find living spaces that enhance quality of life, outside of denser urban areas, has yet to fade. Affluent individuals will continue to leave major metropolitan areas in favor of more private, spacious, sustainable, and healthconscious surroundings.

The significant increase in off-market transactions that transpired in 2022, most of them for extraordinary prices, is expected to continue. While the overall number of ultra-luxury transactions won’t likely outpace 2021’s notable velocity, we expect demand for Hawai‘i’s luxury real estate to remain very strong, especially over longer periods of time.