Market Update: Oahu, HI May 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 April, 59 homes sold at or above $1.8M. The is tied for the third highest number of sales in a month since we started tracking data. The median price was $2,650,000, a slight increase of 6% over April 2021. Homes sold after an average of on 46 days on market. Price per square foot was $1,062.32, a 4% increase from last year. Homes sold for 101% of their asking price, on average, and 68% of them sold at or above asking price.
April 2022 vs 2021 for SFH $1.8M+
- #sold: 59 vs 44 in 2021 vs (34% increase)
- Median price: $2,650,000 vs $2,500,000 in 2021 (6% increase)
- DOM: 46 vs 81 in 2021 (35 days faster)
- Listing/sold ratio: 101% vs 99% in 2021
- % sold at or above asking: 68% at or above listing vs 57% in 2021
- Price per sq ft: $1,062.32 vs $1,019.17 in 2021 (4% increase)
Highest Sold Single-Family Home
Portlock, Hawaii Kai
5 bedrooms | 6.5 baths | 8,444 square feet living | 25,024 square feet land
Why this property is spectacular: On a cul-de-sac at the end of Portlock Rd, this private, oceanfront estate has 125 linear feet of ocean frontage and incredible ocean, sunset, and Diamond Head views. The home was designed by award winning architect Jeff Long and was voted by HGTV as The Ultimate Waterfront Property in the US in 2016.
There were 14 luxury condo sales, up 75% over the 8 that sold in April 2021; they sold for a median price of $2,137,500. Condos received 94% of their asking price and sold after 91 days on average. The average price per square foot for luxury condos was $1,676.59.
April 2022 vs 2021 for Condos $1.8M+
- #sold: 14 vs 8 in 2021 (75% increase)
- Median price: $2,137,500 vs $2,445,000 in 2021 (12.5% decrease)
- DOM: 91 vs 126 in 2021 (35 days faster)
- Listing/sold ratio: 94.1% vs 94.2% in 2021
- % sold at or above asking: 14% at or above listing vs 12.5% in 2021
- Price per sq ft: $1,676.59 vs $1,717.08 in 2021 (2.3% decrease)
Highest Sold Condo in March
Park Lane, Ala Moana
4 bedrooms | 4.5 baths | 4,200 square feet living
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 a 2-car private garage and the building offers resort-style amenities and is moments from the beach.
Sold at: $12,150,000 after 44 days on market to an investor from Texas.