Market Update: Oahu, HI August 2021
The latest statistics from August 2021 are out for luxury real estate sales across the beautiful island of Oahu, HI, thanks to one of our Luxury Affiliates, Caron B Davis with Caron B Realty International.
Oahu luxury home sales continue to be very strong. In August, sales volume increased by 100% over August 2020. There were 56 sales, the third highest since we started tracking data in 2017 onward. Homes sold after an average of only 39 days, tied for the fastest sold in our data. Half of luxury homes sold at or above asking price and sold for 99% of the list price, on average. The median price was nearly identical to last August and 12% higher than in August 2019. Price per square foot was $1169.54, 25.6% and 23% higher than 2020 and 2019, respectively.
Highest Sold Single-Family Home
6 bedrooms | 5.5 baths | 6,076 square feet living | 20,791 square feet land
Why this property is spectacular: This luxurious, private estate home is located on Lanikai Beach, one of the most beautiful beaches in the world. Soaring ceilings and large windows display spectacular ocean views.
We continue to see growth in the Oahu condo market. In August, there were 22 condo sales, the highest there have been since 2017, with the exception of the months Park Lane and Anaha were introduced. This represents a 267% increase over both August 2020 and August 2019. The median price for the 22 sales was $2,797,500, 30% higher than last August. Condos sold after an average of 114 days on market for $1664.39 per square foot.
Highest Sold Condo
Waikiki Shore, Waikiki
2 bedrooms | 2 baths | 1,158 square feet living
Why this property is spectacular: This exclusive condo is one of 12 units on Waikiki Beach. It offers stunning ocean and sunset views and offers the potential for nightly rental income.
Sold at: $5,710,000 after 7 days on market to a local company.
State Tax Office & Bureau of Conveyances
Caron B Realty International – August Luxury Market Report