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.
Nineteen single-family home sales priced from $3 to $5 million sold in Q4 2020, up 46.2% from the same quarter last year. Months’ supply of inventory declined to 12.2 months from 18.8 months in Q4 2019.
The Oahu luxury home market report is listed into four single-family home categories and two condominium price segments.
Nine single-family homes sold at or above $5 million in Q4 which includes 3 Windward Oahu homes and 6 East Oahu homes. The top sale was at $12,500,000 for a home in Lanikai.
Single-family home sales for Q4 2020 priced from $1 to $2 million increased 48.9% compared to Q4 2019, with 329 homes sold in the quarter versus 221 homes in the same period a year ago. With the increase in sales, months’ supply of inventory decreased 34.6% compared to last year to 3.7 months. For single-family homes in the $2 to $3 million range, sales increased from 26 in Q4 2019 to 42 for Q4 2020, an increase of 61.5% from the year prior. Months’ supply of inventory decreased 31.6% to 8.7 months for the quarter.
As for condominiums, there was one sale in Q4 at or above $5 million which was a unit at Park Lane that sold for $7,300,000. Sales in the $800 thousand to $1 million range increased 20% in Q4 2020 from Q4 2019, with 60 closed sales in Q4 2020 versus 50 closed sales in the fourth quarter last year. Months’ supply of inventory was down 6.3% to 7.8 months.
Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through September 2020.
2020
#
$
JAPAN
9
CANADA
3
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
SINGAPORE
1
$1,803,100
TAIWAN
2018
#
$
JAPAN
133
KOREA
9
$8,809,000
TAIWAN
4
$6,106,000
CANADA
2
$2,443,000
2017
#
$
$188,796,404
JAPAN
82
$111,518,829
$13,176,500
CHINA
10
$14,214,165
8
$10,728,600
KOREA
3
$4,430,000
8
$10,575,100
TAIWAN
3
$3,466,758
CHINA
5
$6,057,400
CANADA
2
$2,875,000
2018
#
$
2017
#
$
$2 MILLION + 2020
#
$
JAPAN
11
SINGAPORE
2
CANADA NEW ZEALAND HONG KONG
2019
#
$
$44,041,333
JAPAN
33
$116,429,433
JAPAN
57
$220,699,504
JAPAN
63
$268,891,006
$11,800,000
KOREA
4
$10,220,900
KOREA
5
$24,808,800
HONG KONG
11
$66,957,353
2
$4,575,000
SINGAORE
2
$6,802,000
HONG KONG
3
$12,145,800
SINGAPORE
7
$33,980,786
2
$5,800,000
CANADA
1
$3,635,000
SINGAPORE
2
$18,403,800
CHINA
4
$16,244,754
1
$5,850,000
MALAYSIA
1
$2,400,000
CANADA
2
$5,848,800
KOREA
5
$15,740,000
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 +
2015
608
84
43
18
213
164
2016
710
99
37
16
242
336
2017
795
111
51
14
319
662
2018
848
96
46
28
285
352
2019
832
98
40
23
261
310
2020 YTD
970
114
55
26
181
186
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
$1.25
$2.30
$3.70
$5.80
$0.89
$1.50
2020 YTD
$1.28
$2.33
$3.50
$6.80
$0.88
$1.32
Q4 2015
7.1
12.3
16.7
35.5
35.5
13.8
Q4 2016
7.6
13.8
27.5
31.0
31.0
17.5
Q4 2017
7.3
13.6
26.4
32.5
32.5
10.1
Q4 2018
5.8
12.6
16.4
23.4
6.9
11.8
Q4 2019
5.7
12.8
18.8
37.5
8.3
11.4
Q4 2020
3.7
8.7
12.4
26.6
7.8
20.0
CLOSED SALES
MEDIAN SALES PRICE (in millions)
MONTHS SUPPLY OF INVENTORY
SINGLE FAMILY & CONDO $1 Million +
HISTORICAL GRAPH Q4 2017
Q4 2018
Q4 2019
Q4 2020
Q4 2018
Q4 2019
Q4 2020
Closed Sales Median Sales Price Months Supply of Inventory
CONDOMINIUM $1 Million +
HISTORICAL GRAPH Q4 2017
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 fell 45.8% in Q4 2020 compared to Q4 2019, from 83 sales during Q4 2019 to 45 during Q4 2020. Months’ supply of inventory increased a 76.5% compared to Q4 2019, to 20.2 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.
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OAHU LUXURY NEIGHBORHOOD DETAIL FOR SINGLE FAMILY HOMES
THROUGH FOURTH QUARTER 2020
2020 YTD Median Sales Price
2019 Median Sales Price
2018 Median Sales Price
2017 Median Sales Price
2016 Median Sales Price
2015 Median Sales Price
Aina Haina Beach
$1,225,000
$1,222,000
$10,772,500
$1,400,000
$1,200,000
$1,395,000
Beachside
$3,200,000
$2,00,000
$2,800,000
$2,094,000
$2,537,500
$2,217,500
Black Point
$1,360,000
$4,025,000
$2,500,000
-
$2,175,000
$3,350,000
Diamond Head
$2,900,000
$2,530,000
$2,990,000
$2,375,000
$3,200,000
$2,875,888
Dowsett
$1,350,000
$1,134,000
$1,745,000
$1,622,000
$1,350,000
$1,255,000
Hawaii Loa Ridge
$2,084,000
$2,100,000
$2,175,000
$2,430,000
$2,200,000
$2,100,000
Hillcrest
$1,330,000
$1,236,250
$1,272,500
$2,435,000
$2,648,050
$2,200,000
Kahala Area
$2,600,000
$2,617,500
$2,600,000
$2,648,050
$2,200,000
$2,200,000
–
-
$1,437,500
$1,050,000
–
–
Kamehame Ridge
$1,930,000
$1,495,000
$1,750,000
$1,114,000
$1,587,500
$1,152,500
Koko Kai
$2,325,000
$2,392,500
$2,025,000
$2,660,000
$2,041,500
$2,425,000
Lanikai
$2,183,000
$2,200,000
$3,200,000
$2,297,826
$2,272,500
$1,807,500
Makiki Heights
$1,300,000
$1,300,000
$1,125,000
$1,393,000
$1,360,000
$1,575,000
Manoa Area
$1,322,500
$1,249,000
$1,262,500
$1,279,500
$1,180,000
$1,214,617
Manoa-Woodlawn
$1,314,000
$1,093,750
$1,312,500
$1,288,000
$1,245,500
$1,134,750
Maunalani Heights
$1,275,000
$1,275,300
$1,276,500
$1,295,000
$1,282,000
$1,100,000
Napali Haweo
$1,957,000
$1,414,500
$1,710,000
$1,900,000
$1,445,000
$1,650,000
Niu Beach
$2,357,000
$3,770,000
$1,325,000
$4,300,000
$2,200,000
$3,420,000
North Shore
$1,005,000
$785,000
$889,500
$755,000
$750,000
$747,500
Pacific Heights
$1,580,500
$1,060,000
$1,140,000
$968,000
$1,002,260
$998,500
Paiko Lagoon
$1,302,000
$1,075,000
$3,344,000
$3,327,500
$1,000,000
$1,155,000
Portlock
$3,000,000
$2,500,000
$1,525,000
$2,650,000
$2,332,500
$2,700,000
Puupanini
$1,425,000
$1,075,000
$1,487,500
$3,889,000
$1,025,000
$998,500
Tantalus
$1,950,000
$1,020,000
$1,326,000
$1,110,000
$1,262,500
$1,700,000
Triangle
$1,195,000
$1,457,625
$1,400,000
$835,000
$1,465,000
$1,312,500
Waialae Golf Course
$2,153,750
$1,950,000
$3,197,500
$2,510,000
$1,999,999
$2,410,000
Waialae Iki
$1,532,500
$1,650,000
$1,725,000
$1,662,500
$1,667,500
$1,630,000
Waialae Nui Ridge
$1,450,000
$1,347,000
$1,525,000
$1,400,000
$1,525,000
$1,362,500
Wailupe Area
$2,200,000
$1,582,500
$2,775,000
$2,500,000
$2,100,000
$1,770,000
Neighborhoods
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.
Visit www.ListSothebysRealty.com | 4