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. The Oahu luxury home market report is broken down into four singlefamily home categories and two condominium price segments. Single-family home sales for Q4 2023 priced from $2 to $3 million declined 20% compared to Q4 2022, with 32 homes sold in the fourth quarter of 2023 compared to 40 homes sold during the same period a year ago. Months’ supply of inventory increased 55.1% compared to last year, rising to 7.6 months in Q4 2023 from 4.9 months in Q4 2022. For single-family homes in the $3 to $5 million range, sales fell from 18 in Q4 2022 to 14 in Q4 2023, a decrease of 22.2% from the same time last year. Months’ supply of inventory increased 48.6% to 10.4 months from 7 months last year.
In the $5 to $10 million range, eight single-family homes sold in Q4 2023, up slightly from the seven homes sold during the same quarter last year. Months’ supply of inventory decreased 8% to 12.6 months from 13.7 months in Q4 2022. There were no single-family homes sold at or above $10 million in Q4 2023, which remained unchanged from Q4 2022. Months’ supply of inventory rose from 9.6 months in Q4 2022 to 20 months in Q4 2023. Condo sales in the $1 to $2.5 million range decreased 9.7% in Q4 2023 from Q4 2022, with 84 closed sales in the fourth quarter of 2023 versus 93 closed sales in the fourth quarter the year prior. Months’ supply of inventory increased slightly to 7.8 months from 7.5 months in Q4 2022. Fourteen condos priced at $2.5 million and higher sold in Q4 2023, a decrease of 22.2% compared to the eighteen sales in Q 2022. Months’ supply of inventory increased 53.6% compared to Q4 2022, to 16.9 months, from 11 months the same quarter last year. Continued on Page 2
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through September 2023.
2023
#
$
2022
#
$
2021
#
$
2020
#
JAPAN
34
$46,060,450
JAPAN
49
$65,003,850
JAPAN
64
$86,855,832
JAPAN
9
$14,331,133
KOREA
3
$4,809,000
KOREA
21
$28,081,200
CANADA
11
$14,210,150
KOREA
3
$3,689,000
CANADA
3
$3,680,400
CANADA
15
$20,052,650
KOREA
7
$10,389,250
HONG KONG
2
$3,030,000
NEW ZEALAND
1
$1,330,000
TAIWAN
3
$3,389,000
UNITED KINGDOM
6
$7,684,475
CANADA
1
$1,925,000
AMERICAN SAMOA
1
$1,275,000
GUAM
2
$2,315,000
SINGAPORE
5
$7,255,150
TAIWAN
1
$1,803,100
2023
#
$
2022
#
$
2021
#
$
2020
#
$
$
$2 MILLION +
JAPAN
18
$70,202,000
JAPAN
13
$40,011,000
JAPAN
19
$80,643,283
JAPAN
13
$48,241,333
KOREA
2
$5,200,000
KOREA
4
$15,750,000
KOREA
4
$20,150,000
CANADA
4
$11,755,000
TAIWAN
1
$3,000,000
HONG KONG
3
$8,613,600
CANADA
4
$14,175,200
SINGAPORE
2
$11,800,000
CHINA
2
$11,550,000
HONG KONG
2
$10,150,000
GUAM
2
$6,925,000
TAIWAN
1
$9,200,000
TAIWAN
1
$4,050,000
NEW ZEALAND
2
$5,800,000
All Data from the HiCentral MLS, Ltd. Report © 2024 ShowingTime.
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Continued from Page 1
Six condos sold at or above $5 million in Q4 2023, with five units at Park Lane and one unit at the Ocean Villas at Turtle Bay. The top sale was at $27,500,000 for a unit at Park Lane. 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 FOURTH QUARTER 2023
Neighborhoods
Q-4 2023 Median Sales Price
Q-4 2022 Median Sales Price
Q-4 2021 Median Sales Price
Q-4 2020 Median Sales Price
Q-4 2019 Median Sales Price
Q-4 2018 Median Sales Price
Aina Haina Beach
--
--
$3,000,000
$1,225,000
--
$15,845,000
Beachside
$4,150,000
$4,185,000
$3,100,000
$2,450,000
$1,900,000
$1,964,000
Black Point
--
--
$4,150,000
$1,360,000
$4,025,000
--
$3,900,000
$4,022,500
$3,700,000
$3,612,500
$2,394,000
$2,628,500
Dowsett
$1,845,000
$1,405,000
$1,480,000
$2,177,631
$1,058,000
$1,900,000
Hawaii Loa Ridge
$3,055,000
$2,812,500
$2,850,000
$2,100,000
$2,380,000
$1,975,000
Hillcrest
$1,950,000
$1,475,000
$1,665,000
$1,175,000
$1,250,000
$1,162,500
Kahala Area
Diamond Head
$2,625,000
$3,417,500
$3,700,000
$2,575,000
$1,912,500
$2,375,000
Kakaako
--
--
--
--
--
$1,225,000
Kamehame Ridge
--
$1,500,000
$1,450,000
$2,200,000
$1,202,500
$1,750,000
Koko Kai
--
$3,775,000
$2,987,500
$2,800,000
$2,045,000
$1,800,000
Lanikai
$5,850,000
$2,350,000
$3,612,500
$2,707,500
$2,900,000
$3,200,000
Makiki Heights
$1,710,000
$3,004,600
$1,900,000
$1,720,000
$1,850,000
$1,100,000
Manoa Area
$1,575,000
$1,600,000
$1,667,500
$1,012,500
$1,215,000
$1,299,000
Manoa-Woodlawn
$1,859,900
$1,615,387
$1,600,000
$1,382,500
$1,203,500
$1,217,500
Maunalani Heights
$1,620,000
$1,300,000
$1,812,500
$1,820,000
$1,235,300
$1,888,889
Napali Haweo
$2,925,000
$3,488,000
$3,220,000
$1,930,000
--
$1,710,000
Niu Beach
--
--
$3,244,500
$4,087,500
$3,770,000
--
North Shore
$960,000
$1,314,500
$1,225,000
$1,086,500
$688,500
$977,500
Pacific Heights
$1,125,000
$1,334,500
$1,600,000
$2,344,000
$972,000
$938,000
Paiko Lagoon
$7,200,000
$1,800,000
--
$2,660,000
$1,075,000
$880,000
Portlock
$5,575,000
$3,975,000
$3,700,000
$2,647,500
$2,900,000
$3,100,000
Puupanini
--
$4,650,000
$1,065,000
$1,497,000
$955,000
$2,337,500
Tantalus
--
--
$1,400,000
$1,950,000
--
--
Triangle
$1,078,000
$1,175,000
$910,000
$1,895,000
$791,250
$849,900
Waialae Golf Course
--
--
$3,900,000
--
$1,634,000
--
Waialae Iki
$5,550,000
$2,640,000
$2,467,500
$1,640,000
$1,565,000
$1,900,000
Waialae Nui Ridge
$1,330,000
--
$1,892,500
$1,510,000
$1,283,750
$1,690,000
--
--
$2,437,500
$2,660,000
$1,625,000
$2,312,500
Wailupe Area dash = no sales in the time period
All Data from the HiCentral MLS, Ltd. Report © 2024 ShowingTime.
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SALES ACTIVITY SINGLE-FAMILY
CONDO
Year
$2-3 Million
$3-5 Million
$5-10 Million
$10 Million +
$1-2.5 Million
$2.5 Million +
Q4-2018
22
14
3
2
55
10
Q4-2019
25
13
3
2
68
15
Q4-2020
42
19
8
1
41
4
Q4-2021
79
44
11
0
118
21
Q4-2022
40
18
7
0
93
18
Q4-2023
32
14
8
0
84
14
Q4-2018
$2.33
$3.34
$7.20
$14.00
$1.36
$4.64
Q4-2019
$2.39
$3.77
$5.70
$15.45
$1.34
$3.70
Q4-2020
$2.30
$3.95
$5.82
$12.50
$1.17
$3.86
Q4-2021
$2.50
$3.61
$6.40
--
$1.24
$3.30
Q4-2022
$2.34
$3.91
$6.33
--
$1.29
$3.55
Q4-2023
$2.33
$3.84
$6.16
--
$1.30
$4.30
Q4-2018
12.1
14.8
20.4
13.5
9.8
18.3
Q4-2019
12.9
18.6
29.3
23.0
10.0
19.3
Q4-2020
8.1
11.4
18.0
24.0
18.4
25.0
Q4-2021
3.0
4.2
9.8
21.0
6.5
10.7
Q4-2022
4.9
7.0
13.7
9.6
7.5
11.0
Q4-2023
7.6
10.4
12.6
20.0
7.8
16.9
Metric
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO
HISTORICAL GRAPH
$ 1 Million +
Q4 2020
Q4 2021
Q4 2022
Q4 2023
Q4 2021
Q4 2022
Q4 2023
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM
HISTORICAL GRAPH
$1 Million +
Q4 2020
Closed Sales Median Sales Price Months Supply of Inventory
All Data from the HiCentral MLS, Ltd. Report © 2024 ShowingTime.
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List Sotheby’s International Realty 4211 Waialae Avenue, Suite 8060 | Honolulu, HI 96816 (808) 735-2411
ARTFULLY UNITING EXCEPTIONAL HAWAII HOMES WITH EXTRAORDINARY LIVES
SALES ACTIVITY CONDOMINIUM
SINGLE FAMILY $2-3 MILLION
$3-5 MILLION
$1-2.5 MILLION
$5-10 MILLION
$10 MILLION +
$2.5 MILLION +
All Data from the HiCentral MLS, Ltd. Report © 2024 ShowingTime.
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