Oahu Luxury Real Estate Update 2018 QTR 2

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2nd Quarter 2018

Aloha

and welcome to The Quarterly Luxury Market Report from LIST Sotheby’s International Realty, where we take a closer look at the most recent real estate activity here on Oahu. Our report breaks the Oahu luxury home market into four singlefamily home and two condominium price segments. Single-family home sales for Q2 2018 priced from $1 to $2 million increased 3.6% compared to Q2 2017, with 229 homes sold. Months’ supply of inventory dropped 13.4% compared to last year at this time to 6.4 months. Supply continues its multiyear downward trend for single-family homes at this price point. For single-family homes in the $2 to $3 million range, sales decreased by 7.4% to 25 homes sold, down from 27 for the last two years. Months’ supply of inventory decreased 4.2% to 13.1 months for the quarter.

Single-family home sales priced from $3 to $5 million decreased by 33.3% compared to last year. Months’ supply of inventory had the largest decrease of all supply measures, down 44.2% to 14.7 months. Six single-family homes sold at or above $5 million during Q2-2018, including two East Oahu homes and three Windward Oahu homes, with the top sale at $18,800,000 for a Beachside oceanfront residence. As for condominiums, six units closed in the second quarter above $5 million, including three at Park Lane and the highest condominium sale this quarter, a $7,495,000 penthouse at Anaha. The luxury condo market for Q2 2018 is only 26 units off of l ast year’s sales pace. Sales in the $800 thousand to $1 million range were up 32.8% compared to Q2 2017. The 89 closed sales were well ahead of last year’s 67 sales. Months’ supply of inventory was down 5.1% to 5.9 months. Continued on Page 3

FOREIGN INVESTMENT $1 - $2 MILLION

Source: Title Guaranty Hawaii, through April 30, 2018.

2017

#

$

$31,124,888

JAPAN

82

$111,518,829

JAPAN

10

$14,214,165

2018

#

$

JAPAN

22

2016

#

$

2015

#

$

135

$203,375,491

JAPAN

31

$43,456,250

GUAM

1

$1,590,826

CHINA

CANADA

8

$10,419,000

HONG KONG

4

$5,183,725

GERMANY

1

$1,550,000

KOREA

3

$4,430,000

CHINA

6

$8,275,100

CANADA

4

$4,643,750

TAIWAN

3

$3,466,758

KOREA

3

$6,118,900

CHINA

3

$3,795,000

CANADA

2

$2,875,000

HONG KONG

4

$5,241,800

KOREA

2

$2,370,000

2017

#

$

2016

#

$

2015

#

$

JAPAN

78

$333,303,959

JAPAN

18

$50,565,500

$2 MILLION + 2018

#

$

JAPAN

11

$34,893,600

JAPAN

63

$268,891,006

SINGAPORE

1

$16,250,000

HONG KONG

11

$66,957,353

HONG KONG

6

$22,209,744

CHINA

2

$7,400,000

HONG KONG

1

6,547,000

SINGAPORE

7

$33,980,786

CHINA

5

$20,949,835

HONG KONG

3

$7,340,000

CANADA

1

2,600,000

CHINA

4

$16,244,754

SINGAPORE

4

$14,649,871

CANADA

2

$6,183,750

KOREA

5

$15,740,000

AUSTRALIA

2

$11,627,100

HONG KONG

1

$2,350,000

All Data from the HiCentral MLS, Ltd. Report © 2018 ShowingTime.

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