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.
the 11 homes sold in Q1 2018 and eight homes sold in Q1 2017. Months’ supply of inventory had a year-over-year increase of 33.9% to 17.1 months.
Our report breaks the Oahu luxury home market into four singlefamily home and two condominium price segments.
Five single family homes sold at or above $5 million in Q1 2019 including four East Oahu homes and one Windward Oahu homes. The top sale was at $12,000,000 for a beachfront residence in Diamond Head.
Single-family home sales for Q1 2019 priced from $1 to $2 million decreased 1.1% compared to Q1 2018, with 172 homes sold. Months’ supply of inventory increased 20.0% compared to last year at this time to 6.3 months. For single-family homes in the $2 to $3 million range, sales decreased by 11.1% to 16 homes sold, nearly even with the mark of 18 from the year prior. Months’ supply of inventory increased 8.6% to 12.6 months for the quarter. Single-family home sales priced from $3 to $5 million decreased by 18.2% compared to last year’s nine homes sold, closely resembling
As for condominiums, two units closed in the first quarter at or above $5 million. One unit sold at Park Lane and one unit sold at Waiea, which was the highest sale at $7,287,500. Sales in the $800 thousand to $1 million range for Q1 2019 were down 14.3% compared to Q1 2018. The 60 closed sales landed behind last year’s 70 sales. Months’ supply of inventory was up 65.0% to 9.2 months.
Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION 2018 JAPAN
Source: Title Guaranty Hawaii, through December 2018.
2017
#
$
$188,796,404
JAPAN
82
$111,518,829
JAPAN
10
$14,214,165
#
$
133
2016
#
$
2015
#
$
135
$203,375,491
JAPAN
31
$43,456,250
KOREA
9
$13,176,500
CHINA
CANADA
8
$10,419,000
HONG KONG
4
$5,183,725
TAIWAN
8
$10,728,600
KOREA
3
$4,430,000
CHINA
6
$8,275,100
CANADA
4
$4,643,750
CANADA
8
$10,575,100
TAIWAN
3
$3,466,758
KOREA
3
$6,118,900
CHINA
3
$3,795,000
CHINA
5
$6,057,400
CANADA
2
$2,875,000
HONG KONG
4
$5,241,800
KOREA
2
$2,370,000
2018
#
$
2017
#
$
2016
#
$
2015
#
$
JAPAN
57
$220,699,504
JAPAN
63
$268,891,006
JAPAN
78
$333,303,959
JAPAN
18
$50,565,500
KOREA
5
$24,808,800
HONG KONG
11
$66,957,353
HONG KONG
6
$22,209,744
CHINA
2
$7,400,000
HONG KONG
3
$12,145,800
SINGAPORE
7
$33,980,786
CHINA
5
$20,949,835
HONG KONG
3
$7,340,000
SINGAPORE
2
$18,403,800
CHINA
4
$16,244,754
SINGAPORE
4
$14,649,871
CANADA
2
$6,183,750
CANADA
2
$5,848,800
KOREA
5
$15,740,000
AUSTRALIA
2
$11,627,100
HONG KONG
1
$2,350,000
$2 MILLION +
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
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SALES ACTIVITY SINGLE-FAMILY
CONDO
Year
$1 - 2 Million
$2 - 3 Million
$3 - 5 Million
$5 Million +
$800,000 $1 Million
$1 Million +
2014
496
100
46
16
165
182
2015
608
84
43
18
213
164
2016
710
99
37
16
242
336
2017
795
111
51
14
319
662
2018
848
96
46
28
285
352
2019 YTD
172
16
9
5
60
61
2014
$1.26
$2.30
$3.86
$6.40
$0.88
$1.43
2015
$1.28
$2.37
$3.50
$7.95
$0.88
$1.32
2016
$1.25
$2.30
$3.65
$6.57
$0.87
$1.70
2017
$1.25
$2.37
$3.55
$6.59
$0.88
$1.78
2018
$1.26
$2.36
$3.66
$7.35
$0.89
$1.55
2019 YTD
$1.25
$2.30
$3.50
$5.30
$0.90
$1.37
Q1 2014
7.4
14.9
16.2
30.9
8.3
16.9
Q1 2015
7.1
12.6
24.6
33.0
7.5
13.5
Q1 2016
6.7
14.9
22.2
37.3
7.8
18.6
Q1 2017
5.7
10.1
23.4
32.3
5.9
9.2
Q1 2018
5.3
11.6
12.8
26.3
5.6
6.2
Q1 2019
6.3
12.6
17.1
30.7
9.2
14.6
Metric
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO $1 Million +
HISTORICAL GRAPH Q1 2016
Q1 2017
Q1 2018
Q1 2019
Q1 2017
Q1 2018
Q1 2019
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH Q1 2016
Closed Sales Median Sales Price Months Supply of Inventory
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
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Continued from Page 1
Sales for condos priced at $1 million and higher decreased by 23.8% compared to last year at this time, representing a drop from 80 sales during Q1 2018 to 61 during Q1 2019. Months’ supply of inventory increased by triple-digit figures for the second quarter in a row at 134.7% compared to Q1 2018, rising to 14.6 months. Remember that every home and situation is unique. For guidance with your current or future home, visit listsothebysrealty.com and contact one of our experienced agents. That’s the Oahu Quarterly Luxury Market Report for this quarter. Check back soon for the latest.
OAHU LUXURY NEIGHBORHOOD DETAIL Neighborhoods Aina Haina Beach
2019 YTD Median Sales Price
2018 Median Sales Price
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THROUGH FIRST QUARTER 2019
2017 Median Sales Price
2016 Median Sales Price
2015 Median Sales Price
2014 Median Sales Price
–
$10,772,500
$1,400,000
$1,200,000
$1,395,000
$2,700,000
Beachside
$2,810,000
$2,800,000
$2,094,000
$2,537,500
$2,217,500
$1,922,500
Black Point
–
$2,500,000
–
$2,175,000
$3,350,000
$1,800,000
$8,650,000
$2,990,000
$2,375,000
$3,200,000
$2,875,000
$2,288,888
Diamond Head Dowsett
–
$1,745,000
$1,622,500
$1,350,000
$1,255,000
$1,333,000
Hawaii Loa Ridge
$2,060,000
$2,175,000
$2,430,000
$2,200,000
$2,100,000
$2,540,000
Hillcrest
$1,222,500
$1,272,500
$1,269,000
$1,050,000
$1,061,000
$1,000,000
Kahala Area
$3,250,000
$2,600,000
$2,435,000
$2,648,050
$2,200,000
$2,200,000
–
$1,437,500
$1,050,000
–
–
–
Kakaako Kamehame Ridge
$1,828,888
$1,750,000
$1,114,000
$1,587,500
$1,152,500
$830,000
Koko Kai
$2,992,500
$2,025,000
$2,660,000
$2,041,500
$2,425,000
$2,520,000
Lanikai
$1,644,500
$3,200,000
$2,297,826
$2,272,500
$1,807,500
$2,745,750
Makiki Heights
$1,368,000
$1,125,000
$1,393,000
$1,360,000
$1,575,000
$1,590,000
Manoa Area
$1,404,000
$1,262,500
$1,279,500
$1,180,000
$1,214,617
$999,000
Manoa-Woodlawn
$1,450,000
$1,312,500
$1,288,000
$1,245,500
$1,134,750
$1,126,500
Maunalani Heights
$1,212,500
$1,276,500
$1,295,000
$1,282,000
$1,100,000
$981,500
Napali Haweo
$1,450,000
$1,710,000
$1,900,000
$1,445,000
$1,650,000
$1,660,000
–
$1,325,000
$4,300,000
$2,200,000
$3,420,000
$2,408,000
Niu Beach North Shore
$840,000
$889,500
$755,000
$750,000
$747,500
$637,000
Pacific Heights
$1,057,500
$1,140,000
$968,000
$1,002,260
$999,000
$1,499,000
–
$3,344,000
$3,327,500
$1,000,000
$1,155,000
$2,400,000
Portlock
$2,525,000
$1,525,000
$2,650,000
$2,332,500
$2,700,000
–
Puupanini
Paiko Lagoon
$1,450,000
$1,487,500
$3,889,000
$1,025,000
$998,500
$1,299,000
Tantalus
–
$1,326,000
$1,110,000
$1,262,500
$1,700,000
$1,050,000
Triangle
$1,700,000
$1,400,000
$835,000
$1,465,000
$1,312,500
$1,225,000
Waialae Golf Course
$2,050,000
$3,197,500
$2,510,000
$1,999,999
$2,410,000
$2,125,000
Waialae Iki
$1,692,500
$1,725,000
$1,662,500
$1,667,500
$1,630,000
$1,625,000
Waialae Nui Ridge
–
$1,525,000
$1,400,000
$1,525,000
$1,362,500
$1,248,888
Wailupe Area
–
$2,775,000
$2,500,000
$2,100,000
$1,770,000
$2,200,000
dash = no sales in the time period
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
Visit www.ListSothebysRealty.com | 3
LIST Sotheby’s International Realty 4211 Waialae Avenue, Suite 100 | Honolulu, HI 96816 (808) 735-2411
ARTFULLY UNITING EXTRAORDINARY HOMES WITH EXTRAORDINARY LIVES®
SALES ACTIVITY CONDOMINIUM
SINGLE FAMILY $1 - $2 MILLION
$800 THOUSAND - $1 MILLION
$2 - $3 MILLION
710
795
848
100
99
111
84
608
319
96 213
496
165
172
2014
+22.6%
+16.8%
+12.0%
+6.7%
2015
2016
2017
2018
2019 YTD
$3 - $5 MILLION
46
51 43
60
16 2014
-16.0%
+17.9%
+12.1%
-13.5%
2015
2016
2017
2018
2019 YTD
$5 MILLION +
2014
+29.1%
+13.6%
+31.8%
-10.7%
2015
2016
2017
2018
2019 YTD
$1 MILLION + 662
28 46
37
16
18
16
182 -6.5%
-14.0%
+37.8%
-9.8%
2015
2016
2017
2018
2019 YTD
5
2014
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
352
336
14
9 2014
285
242
+12.5%
-11.1%
-12.5%
+100.0%
2015
2016
2017
2018
2019 YTD
164 61
2014
-9.9%
+104.9%
+97.0%
-46.8%
2015
2016
2017
2018
2019 YTD
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