Market Update: Oahu, HI April 2022
Statistics for luxury real estate sales in Oahu, Hawaii have been provided by Luxury Homes Affiliate and Oahu luxury real estate agent, Caron B Davis.
In the luxury single-family home market, there were 59 home sales at or above $1.8M in March. The is the third highest number of sales in a month since we started tracking data. Median price was $2,700,000. Homes sold after an average of 59 days on market. Price per square foot increased by nearly 25% over last March up to $1,223.25. Homes sold for 99% of their asking price, on average, and half of them sold at or above asking price. There were three ultra-luxury sales above $10M, the highest of which sold for $19,600,000.
Highest Sold Single-Family Home in March
4 bedrooms |4.5 baths | 4,009 square feet interior | 36,118 square feet land
Why this property is spectacular: This oceanfront estate sits on 123 linear feet of sandy beach and offers incredible ocean views. Ideal for indoor-outdoor living, it features a wrap around, seaside lanai, multiple living areas boasting beautiful views, and an oceanside covered lanai.
Sold at: $19,600,000 after 162 days to an investor in Colorado.
There were 16 luxury condo sales, up 100% over the 8 that sold in March 2021; they sold for a median price of $2,850,000. Condos received 97% of their asking price and over one third of them sold at or above asking price. Condos sold after 81 days on average. This is significantly faster than condos have been selling over the past few months.
Highest Sold Condo in March
Park Lane, Ala Moana
3 bedrooms | 3.5 baths | 2,826 square feet interior
Why this property is spectacular: This luxurious Park Lane condo has an expansive lanai with ocean views and a built-in BBQ station. It boasts an enclosed garage with direct access to the unit, and offers access to the building’s resort-like amenities.
Sold at: $9,000,000 after 19 days to a local investment company.