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.
In the $3 to $5 million range, 31 single-family homes sold in Q2 2021, 342.9% higher than the same quarter last year. Months’ supply of inventory declined 60.9% to 7.2 months from 18.4 months in Q2 2020.
The Oahu luxury home market report is broken down into four singlefamily home categories and two condominium price segments.
Eleven single-family homes sold at or above $5 million in Q2 which includes five in Windward Oahu, three in the Kahala area, two in East Oahu and one in Niu Beach. The top sale was at $9,000,000 for a home in Beachside.
Single-family home sales for Q2 2021 priced from $1 to $2 million increased 148.9% compared to Q2 2020, with 443 homes sold in the quarter versus 178 homes in the same period a year ago. Months’ supply of inventory decreased 50.7% compared to last year, down to just 2.8 months of inventory. For single-family homes in the $2 to $3 million range, sales climbed from 15 in Q2 2020 to 88 in Q2 2021, an impressive increase of 486.7% from the year prior. Months’ supply of inventory decreased 71.4% to 3.9 months for the quarter.
As for condominiums, there were three sales in Q2 at or above $5 million which includes units at The Ritz-Carlton Residences, 3003 Kalakaua, and Park Lane. The unit at The Ritz-Carlton Residences was the top sale at $6,498,000. Sales in the $800 thousand to $1 million range increased 115.9% in Q2 2021 from Q2 2020, with 95 closed sales in Q2 2021 versus 44 closed sales in the second quarter last year. Months’ supply of inventory was down 43.5% to 5.4 months from 9.5 months in Q2 2020. Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through March 2021.
2021
#
$
JAPAN
8
CANADA
2
KOREA
1
2020
#
$
$10,505,000
JAPAN
9
$3,020,000
CANADA
3
$1,205,000
KOREA
2019
#
$
$14,331,133
JAPAN
68
$98,359,775
$3,689,000
KOREA
10
$14,187,000
2
$3,030,000
HONG KONG
5
UNITED KINGDOM
1
$1,925,000
CANADA
4
SINGAPORE
1
$1,803,100
TAIWAN
2018
#
$
JAPAN
133
$188,796,404
KOREA
9
$13,176,500
$8,809,000
TAIWAN
8
$10,728,600
$6,106,000
CANADA
8
$10,575,100
2
$2,443,000
CHINA
5
$6,057,400
2019
#
$
2018
#
$
$2 MILLION + 2020
#
$
JAPAN
3
HONG KONG
1
KOREA
1
2020
#
$
$16,500,000
JAPAN
13
$48,241,333
JAPAN
33
$116,429,433
JAPAN
57
$220,699,504
$2,850,000
CANADA
4
$11,755,000
KOREA
4
$10,220,900
KOREA
5
$24,808,800
$2,850,000
SINGAPORE
2
$11,800,000
SINGAORE
2
$6,802,000
HONG KONG
3
$12,145,800
GUAM
2
$6,925,000
CANADA
1
$3,635,000
SINGAPORE
2
$18,403,800
NEW ZEALAND
2
$5,800,000
MALAYSIA
1
$2,400,000
CANADA
2
$5,848,800
All Data from the HiCentral MLS, Ltd. Report © 2021 ShowingTime.
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SALES ACTIVITY SINGLE-FAMILY Metric
CONDO
Year
$1 - 2 Million
$2 - 3 Million
$3 - 5 Million
$5 Million +
$800,000 $1 Million
$1 Million +
2016
706
99
37
15
242
335
2017
791
109
50
13
318
661
2018
842
96
45
28
282
352
2019
827
95
40
23
261
309
2020
963
114
55
25
179
186
2021 YTD
745
143
54
17
176
215
2016
$1.25
$2.30
$3.65
$6.59
$0.87
$1.70
2017
$1.25
$2.37
$3.53
$6.80
$0.88
$1.78
2018
$1.26
$2.36
$3.70
$7.35
$0.89
$1.55
2019
$1.25
$2.30
$3.70
$5.80
$0.89
$1.50
2020
$1.27
$2.33
$3.50
$6.80
$0.88
$1.32
2021 YTD
$1.28
$2.39
$3.54
$6.25
$0.87
$1.35
2016
5.0
10.2
21.1
27.5
5.8
10.1
2017
4.7
9.8
13.3
40.2
5.1
5.9
2018
5.6
12.1
14.8
21.6
6.8
11.7
2019
5.6
12.9
18.6
36.0
8.3
11.6
2020
3.5
8.1
12.0
26.7
7.1
20.4
2021 YTD
2.8
3.9
7.2
20.0
5.4
9.4
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO $1 Million +
HISTORICAL GRAPH Q2 2018
Q2 2019
Q2 2020
Q2 2021
Q2 2019
Q2 2020
Q2 2021
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH Q2 2018
Closed Sales Median Sales Price Months Supply of Inventory
All Data from the HiCentral MLS, Ltd. Report © 2021 ShowingTime.
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Continued from Page 1
Sales for condos priced at $1 million and higher increased 382.1% in Q2 2021 compared to Q2 2020, from 28 sales during Q2 2020 to 135 during Q2 2021. Months’ supply of inventory decreased 35.2% compared to Q2 2020, to 9.4 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. Sign up for our monthly market newsletter and more at: www.ListSothebysRealty.com or www.ListHawaii-mls.com
OAHU LUXURY NEIGHBORHOOD DETAIL FOR SINGLE FAMILY HOMES
THROUGH SECOND QUARTER 2021
2021 YTD Median Sales Price
2020 Median Sales Price
2019 Median Sales Price
2018 Median Sales Price
2017 Median Sales Price
2016 Median Sales Price
--
$1,225,000
$1,222,000
$10,772,500
$1,400,000
$1,200,000
Beachside
$2,995,000
$3,200,000
$2,000,000
$2,800,000
$2,094,000
$2,537,500
Black Point
$4,700,000
$1,360,000
$4,025,000
$2,500,000
--
$2,175,000
Diamond Head
$2,386,780
$2,900,000
$2,530,000
$2,990,000
$2,375,000
$3,200,000
Dowsett
$1,737,500
$1,350,000
$1,134,000
$1,745,000
$1,622,500
$1,350,000
Hawaii Loa Ridge
$2,515,000
$2,084,000
$2,100,000
$2,175,000
$2,430,000
$2,200,000
Hillcrest
$1,601,000
$1,330,000
$1,236,250
$1,272,500
$1,269,000
$1,050,000
Kahala Area
$2,888,000
$2,600,000
$2,617,500
$2,600,000
$2,435,000
$2,648,050
--
--
--
$1,437,500
$1,050,000
--
Kamehame Ridge
$1,205,000
$1,930,000
$1,495,000
$1,750,000
$1,114,000
$1,587,500
Koko Kai
$3,800,000
$2,325,000
$2,392,500
$2,025,000
$2,660,000
$2,041,500
Lanikai
$2,125,000
$2,183,000
$2,200,000
$3,200,000
$2,297,826
$2,272,500
Makiki Heights
$1,685,000
$1,300,000
$1,300,000
$1,125,000
$1,393,000
$1,360,000
Manoa Area
$1,450,000
$1,322,500
$1,249,000
$1,262,500
$1,279,500
$1,180,000
Manoa-Woodlawn
$1,650,000
$1,314,000
$1,093,750
$1,312,500
$1,288,000
$1,245,500
Maunalani Heights
$1,700,000
$1,275,000
$1,275,300
$1,276,500
$1,295,000
$1,282,000
Napali Haweo
$2,300,000
$1,957,000
$1,414,500
$1,710,000
$1,900,000
$1,445,000
Niu Beach
$3,025,000
$2,357,000
$3,770,000
$1,325,000
$4,300,000
$2,200,000
North Shore
$1,080,000
$1,005,000
$785,000
$889,500
$755,000
$750,000
Pacific Heights
$1,993,500
$1,580,500
$1,060,000
$1,140,000
$968,000
$1,002,260
Paiko Lagoon
$1,425,000
$1,302,000
$1,075,000
$3,344,000
$3,327,500
$1,000,000
Portlock
$2,800,000
$3,000,000
$2,500,000
$1,525,000
$2,650,000
$2,332,500
Puupanini
$2,800,000
$1,425,000
$1,075,000
$1,487,500
$3,889,000
$1,025,000
Tantalus
$1,450,000
$1,950,000
$1,020,000
$1,326,000
$1,110,000
$1,262,500
Triangle
$1,988,000
$1,195,000
$1,457,625
$1,400,000
$835,000
$1,465,000
Waialae Golf Course
$2,700,000
$2,153,750
$1,950,000
$3,197,500
$2,510,000
$1,999,999
Waialae Iki
$2,073,655
$1,532,500
$1,650,000
$1,725,000
$1,656,250
$1,685,000
Waialae Nui Ridge
$1,495,000
$1,450,000
$1,347,000
$1,525,000
$1,400,000
$1,525,000
Wailupe Area
$3,000,000
$2,200,000
$1,582,500
$2,775,000
$2,500,000
$2,100,000
Neighborhoods Aina Haina Beach
Kakaako
dash = no sales in the time period
All Data from the HiCentral MLS, Ltd. Report © 2021 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
$2 - $3 MILLION
$800 THOUSAND - $1 MILLION
$3 - $5 MILLION
$5 MILLION +
$1 MILLION +
All Data from the HiCentral MLS, Ltd. Report © 2021 ShowingTime.
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