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 single-family home and two condominium price segments. Closed sales for the second quarter of 2020 were down in almost every segment due to the impact from COVID-19. Single-family home sales for Q2 2020 priced from $1 to $2 million decreased 12.7% compared to Q2 2019, with 179 homes sold in the quarter. Even with lower sales, months’ supply of inventory decreased 14.5% compared to last year at this time to 5.9 months.
For single-family homes in the $2 to $3 million range, sales declined from 25 sales in Q2 2019 to 15 sales for Q2 2020, a decrease of 40% from the year prior. Months’ supply of inventory increased 13.6% to 14.2 months for the quarter. Seven single-family home sales priced from $3 to $5 million sold in Q2 2020, a slight increase compared to last year’s six homes sold in the second quarter. Months’ supply of inventory declined slightly from 19.8 months in Q2 2019 to 19.4 months in Q2 2020. Three single-family homes sold at or above $5 million in Q2 2020, two fewer than in Q2 2019, including two Beachside homes and one Sunset Area home. The top sale was at $18,700,000 for a home in Beachside. Months’ supply of inventory declined from 36.5 months in Q2 2019 to 30.4 months in the most recent quarter. As for condominiums, there was one sale in Q2 at or above $5 million, a unit in Park Lane that sold for $5,850,000. Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through March 2020.
2020
#
$
JAPAN
3
$4,950,000
KOREA
2
$3,030,000
2019
#
$
JAPAN
68
$98,359,775
KOREA
10
$14,187,000
5
2018
#
$
JAPAN
133
KOREA
9
$8,809,000
2017
#
$
$188,796,404
JAPAN
82
$111,518,829
$13,176,500
CHINA
10
$14,214,165
CANADA
2
$2,525,000
HONG KONG
TAIWAN
8
$10,728,600
KOREA
3
$4,430,000
SINGAPORE
1
$1,803,100
CANADA
4
$6,106,000
CANADA
8
$10,575,100
TAIWAN
3
$3,466,758
TAIWAN
2
$2,443,000
CHINA
5
$6,057,400
CANADA
2
$2,875,000
2018
#
$
2017
#
$
JAPAN
57
$220,699,504
JAPAN
63
$268,891,006
$2 MILLION + 2020
#
$
JAPAN
2
$19,225,000
SINGAPORE
2
$11,800,000
NEW ZEALAND
1
$2,800,000
2019
#
$
JAPAN
33
$116,429,433
KOREA
4
$10,220,900
SINGAPORE
2
$6,802,000
KOREA
5
$24,808,800
HONG KONG
11
$66,957,353
CANADA
1
$3,635,000
HONG KONG
3
$12,145,800
SINGAPORE
7
$33,980,786
MALAYSIA
1
$2,400,000
SINGAPORE
2
$18,403,800
CHINA
4
$16,244,754
MARIANA ISLANDS
1
$2,500,000
CANADA
2
$5,848,800
KOREA
5
$15,740,000
All Data from the HiCentral MLS, Ltd. Report © 2020 ShowingTime.
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