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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