Aloha
and welcome to The Oahu 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 2019 priced from $1 to $2 million decreased 11.3% compared to Q2 2018, with 204 homes sold. Months’ supply of inventory increased 24.3% compared to last year at this time to 7.6 months. For single-family homes in the $2 to $3 million range, sales were even with the mark of 25 from the year prior. Months’ supply of inventory increased 7.8% to 13.9 months for the quarter. The six single-family home sales priced from $3 to $5 million was a decrease of 40.0% compared to last year’s ten homes sold.
Months’ supply of inventory had a year-over-year increase of 23.1% to 18.4 months. Five single-family homes sold at or above $5 million in Q2 2019, including two East Oahu homes, one Windward Oahu home and one North Shore home. The top sale was at $8,729,307 for a home in Beachside. As for condominiums, seven units closed in Q2 2019 at or above $5 million, including three units in Kakaako and three units in Waikiki/ Diamond Head. The top sale was at $7,500,000 for a unit in the Ritz-Carlton Residences in Waikiki. Sales in the $800 thousand to $1 million range for Q2 2019 were down 13.5% compared to Q2 2018. The 77 closed sales landed behind last year’s 89 sales. Months’ supply of inventory was up 63.2% to 8.7 months. Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through March 2019.
2019
#
$
JAPAN
27
$39,001,775
2018
#
$
JAPAN
133 9
2017
#
$
2016
$188,796,404
JAPAN
82
$111,518,829
JAPAN
$13,176,500
#
$
135
$203,375,491
HONG KONG
4
$6,934,000
KOREA
CHINA
10
$14,214,165
CANADA
8
$10,419,000
KOREA
4
$5,456,000
TAIWAN
8
$10,728,600
KOREA
3
$4,430,000
CHINA
6
$8,275,100
CANADA
3
$4,351,000
CANADA
8
$10,575,100
TAIWAN
3
$3,466,758
KOREA
3
$6,118,900
TAIWAN
2
$2,443,000
CHINA
5
$6,057,400
CANADA
2
$2,875,000
HONG KONG
4
$5,241,800
2019
#
$
2018
#
$
2017
#
$
2016
#
$
JAPAN
6
$19,461,250
JAPAN
57
$220,699,504
JAPAN
63
$268,891,006
JAPAN
78
$333,303,959
KOREA
1
$2,065,900
KOREA
5
$24,808,800
HONG KONG
11
$66,957,353
HONG KONG
6
$22,209,744
HONG KONG
3
$12,145,800
SINGAPORE
7
$33,980,786
CHINA
5
$20,949,835
SINGAPORE
2
$18,403,800
CHINA
4
$16,244,754
SINGAPORE
4
$14,649,871
CANADA
2
$5,848,800
KOREA
5
$15,740,000
AUSTRALIA
2
$11,627,100
$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
849
96
46
28
285
352
2019 YTD
376
41
15
10
137
146
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
$3.60
$5.45
$0.89
$1.49
Q2 2014
7.4
12.2
17.3
32.6
8.2
13.8
Q2 2015
7.4
13.1
26.0
37.0
9.6
16.7
Q2 2016
7.6
12.9
25.2
28.5
7.5
15.1
Q2 2017
5.6
10.0
17.1
41.7
6.2
8.2
Q2 2018
6.1
12.9
14.9
26.2
5.3
6.1
Q2 2019
7.6
13.9
18.4
38.1
8.7
13.5
Metric
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO $1 Million +
HISTORICAL GRAPH Q2 2016
Q2 2017
Q2 2018
Q2 2019
Q2 2017
Q2 2018
Q2 2019
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH Q2 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 26.7% compared to last year at this time, representing a drop from 116 sales during Q2 2018 to 85 during Q2 2019. Months’ supply of inventory increased by triple-digit figures for the third quarter in a row at 120.4% compared to Q2 2018, rising to 13.5 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 SECOND 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
$1,950,000
$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
$2,900,000
$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
$1,900,000
$2,175,000
$2,430,000
$2,200,000
$2,100,000
$2,540,000
Hillcrest
$1,206,250
$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
$2,485,000
$2,025,000
$2,660,000
$2,041,500
$2,425,000
$2,520,000
Lanikai
$1,775,000
$3,200,000
$2,297,826
$2,272,500
$1,807,500
$2,745,750
Makiki Heights
$1,409,000
$1,125,000
$1,393,000
$1,360,000
$1,575,000
$1,590,000
Manoa Area
$1,380,000
$1,262,500
$1,279,500
$1,180,000
$1,214,617
$999,000
Manoa-Woodlawn
$1,131,250
$1,312,500
$1,288,000
$1,245,500
$1,134,750
$1,126,500
Maunalani Heights
$1,250,000
$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
$800,000
$889,500
$755,000
$750,000
$747,500
$637,000
Pacific Heights
$1,022,500
$1,140,000
$968,000
$1,002,260
$999,000
$1,499,000
Paiko Lagoon
$1,000,000
$3,344,000
$3,327,500
$1,000,000
$1,155,000
$2,400,000
Portlock
$2,500,000
$1,525,000
$2,650,000
$2,332,500
$2,700,000
–
Puupanini
$1,450,000
$1,487,500
$3,889,000
$1,025,000
$998,500
$1,299,000
Tantalus
$1,020,000
$1,326,000
$1,110,000
$1,262,500
$1,700,000
$1,050,000
Triangle
$1,511,313
$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
$1,671,250
$1,725,000
$1,662,500
$1,667,500
$1,630,000
$1,625,000
Waialae Nui Ridge
$1,228,888
$1,525,000
$1,400,000
$1,525,000
$1,362,500
$1,248,888
–
$2,775,000
$2,500,000
$2,100,000
$1,770,000
$2,200,000
Wailupe Area dash = no sales in the time period
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
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List Sotheby’s International Realty 4211 Waialae Avenue, Suite 100 | Honolulu, HI 96816 (808) 735-2411
ARTFULLY UNITING EXCEPTIONAL HAWAII HOMES WITH EXTRAORDINARY LIVES
SALES ACTIVITY CONDOMINIUM
SINGLE FAMILY $1 - $2 MILLION
$800 THOUSAND - $1 MILLION
$2 - $3 MILLION
710
795
849 100
99
111
84
608
319
96 213
496
165
376
2014
+22.6%
+16.8%
+12.0%
+6.8%
2015
2016
2017
2018
2019 YTD
$3 - $5 MILLION
46
43
2014
-16.0%
+17.9%
+12.1%
-13.5%
2015
2016
2017
2018
2019 YTD
2014
+29.1%
+13.6%
+31.8%
-10.7%
2015
2016
2017
2018
2019 YTD
$1 MILLION + 662
28 46
37
16
18
16
-6.5%
-14.0%
+37.8%
-9.8%
2015
2016
2017
2018
2019 YTD
10
2014
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
352
336
14
15
2014
137
41
$5 MILLION +
51
285
242
+12.5%
-11.1%
-12.5%
+100.0%
2015
2016
2017
2018
2019 YTD
182
2014
164
146
-9.9%
+104.9%
+97.0%
-46.8%
2015
2016
2017
2018
2019 YTD
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