Single-Family Homes
The luxury market ended the year strong. In December, 49 homes sold at or above $1.8M. This is a slight decrease from the past few months, but it is typical for December/holiday sales and still very high, relative to previous years. In December 2020, the had been a surge in sales so there were only 3 more luxury home sales in December 2021 compared to December 2020. Median price hit a 2021-high of $2,700,000. It is an 18% increase over last December. Average days on market set another record low of 30 days on market, the fastest since we started tracking data in 2017. The DOM was 56 days faster than last December. Price per square foot was $1,243.55, up 37%. Homes sold for 102% of their asking price, on average, and 67% of homes sold at or above asking price, a significant proportion.
Highest Sold Single-Family Home in December
Beachside, Kailua
3 bedrooms | 3 baths |1,692 square feet interior | 28,392 square feet land
Why this property is spectacular: This oceanfront estate sits on award-winning Kailua Beach. It features two separate lots- “The Cabana” – a luxury beach home and “The Guest House” with over half an acre of land and 84 linear feet of beach front.
Sold at: $9,000,000 after 8 days on market to the co-founders of Storyworth.
Picture from Honolulu Board of Realtors
Condominiums
In the luxury condo market, there were 14 condos sales in December, up 180% over the 5 that sold in 2020. The median price was $2,990,500, up 21% from 2020. This was the second highest median price in 2021. Condos sold after 186 days on average, 53 days slower than in 2020. The price per square foot increased by 37% to $1,923.01, a big increase over 2020. What’s notable is that there were several ultra-luxury sales in December. The highest sale was $11,500,000. This was the highest luxury condo sale of the year and the 8th highest luxury condo sale recorded in MLS history.
Highest Sold Condo in December
Waiea, Kaka’ako
3 bedrooms | 3.5 baths | 4,751 square feet interior
Why this property is spectacular: This spacious penthouse has sweeping ocean and Diamond Head views. It feature 11-foot ceilings, a gourmet kitchen, and was sold fully furnished by Tantalus Studio.
Sold at: $11,500,000 after 34 days on market to a buyer from South Korea.
Picture from Honolulu Board of Realtors
Each quarter, we provide updates of the neighbor islands of Kauai, Maui, and Hawaii Island.
Kauai Market Update & Top Sales for November
SFH Stats November 2021 vs. November 2020
- 19 sold, up 29% from 15
- Median Price $1,789,000, up 18% from $1.52M
- $1,127/sq ft, up 72%
- Selling for 96.2% of list price, compared to 96.8%
- 17 DOM, 77 days faster
- Inventory down 56%
- The most active price range is $1,200,000-$1,299,999
Condo Stats November 2021 vs. November 2020
- 19 sold, up 171% from 7
- Median Price $1,375,000, up 27% from $1.08M
- $1,124/sq ft, up 25%
- Selling for 97.6% of list price, compared to 96.5%
- 14 DOM, 58 days faster
- Inventory down 51%
- The most active price range is $1,200,000-$1,399,999
Single-Family Home Top Sale of the Fourth Quarter
Koloa, 5 bedrooms | 5.5 bathrooms | 4,224 sq ft interior | 29,795 sq ft land
Why this property is spectacular: Set on a hillside on Kauai’s South Shore, this custom residence offers panoramic ocean, mountain, and golf course views. Features include a chef’s kitchen, home theater, great room, and raised infinity pool.
Sold at: $10,950,000 in November after 65 days on market to a company in Colorado.
Picture courtesy of Compass Realty
Condo Top Sale of the Fourth Quarter
Timbers Kauai Resort, Hokuala, 3 bedrooms | 3.5 bathrooms | 2,905 sq ft interior
Why this property is spectacular: This oceanfront penthouse overlooks the ocean and is near Kalapaki Beach; wrap around lanais allow the views to be taken in from around the residence.
Sold at: $7,249,000 in October after 1 day on market to the president of a steel company in Illinois.
Picture from Redfin.com
Maui Market Update & Top Sales for November
SFH Stats November 2021 vs. November
- 27 sold, up 4% from 26
- Median Price $2,420,000, up 7% from $2.26M
- $1,111/sq ft, up 34%
- Selling for 98% of list price, compared to 96.5%
- 106 DOM, 37 days slower
- Inventory down 49%
- The most active price range is $1,700,000-$1,799,999
Condo Stats November 2021 vs. November 2020
- 34 sold, up 79% from 19
- Median Price $2,249,000, down 1% from $2.28M
- $1,460/sq ft, up 18%
- Selling for 100% of list price, same as last year
- 68 DOM, 156 days faster
- Inventory down 80%
- The most active price range is $2,000,000-$2,199,999
Single-Family Home Top Sale of the Fourth Quarter
Kihei, 4 bedrooms | 4.5 bathrooms | 4,552 sq ft interior | .58 acres of land
Why this property is spectacular: Set on Makena Landing Beach Park, this home offers spectacular views and is minutes from Wailea Golf Club.
Sold at: $24,000,000 in November after 45 days on market to a company from Massachusetts.
Picture from Redfin.com
Condo Top Sale of the Fourth Quarter
Wailea Point Kihei, 4 bedrooms | 4.5 bathrooms | 4,544 sq ft interior
Why this property is spectacular: This full-floor unit was designed by the original developer of Wailea Point as his personal residence. It offers ocean and neighbor island views, 20-foot ceiling, a gourmet chef’s kitchen, and luxury amenities.
Sold at: $16,000,000 in December after 96 days on market to a family from Texas.
Picture from Wailea-Point.com
Hawaii Island Market Update & Top Sales for November
SFH Stats November 2021 vs. November 2020
- 24 sold, down 14% from 28
- Median Price $1,502,500, down 16% fro3m $1.79M
- $714/sq ft, up 8%
- Selling for 97.8% of list price, compared to 95.5%
- 16 DOM, 19 days faster
- Inventory down 51%
- The most active price range is $1,300,000-$1,399,999
Condo Stats November 2021 vs. November 2020
- 17 sold, up 31% from 13
- Median Price $1,180,000, down 33% from $1.75M
- $821/sq ft, down 56%
- Selling for 100% of list price, same as last year
- 5 DOM, 36 days faster
- Inventory down 51%
- The most active price ranges are $950,000-$999,999 and $1,100,000-$1,199,999
Single-Family Home Top Sale of the Fourth Quarter
Kailua-Kona, 6 bedrooms |7 bathrooms | 2 half baths | 8,008 sq ft interior
Why this property is spectacular: Part of the Hualalai Resort, this spacious home boasts floor-to-ceiling windows with stunning views, affords access to a members-only golf course, and is minutes from Hualalai Beach.
Sold at: $30,200,000 in October without listing to a company in Seattle.
Picture from Redfin.com
Condo Top Sale of the Fourth Quarter
Mauna Kea Resort at Hapuna Beach Residences, Kamuela, 4 bedrooms | 4 bathrooms | 3,408 sq ft interior
Why this property is spectacular: A contemporary beachfront residence, this property has incredible views, European oak flooring, and a private pool.
Sold at: $8,995,000 in October after 308 days on market to a company in California.
Picture from Trulia.com
Source: State Tax Office & Bureau of Conveyances; Title Guaranty
To discuss the market in your area or the value of your home, please call our office at (808) 593-9826 or email concierge@caronb.com
Caron Davis, Realtor
(808) 286-5256