Single-Family Homes
In June, 56 luxury homes sold at or above $1.8M, although it is a slight decrease from June of 2021, it is still very high. The median price was $2,375,000, no change compared to June 2021. Homes sold after an average of on 32 days on market, 8 days faster than last June. This is the second fastest since we started tracking data in 2017. Price per square foot increased significantly to $1,063.40, up 20.8% from last year. Homes sold for 101% of their asking price, on average, and 75% of them sold at or above asking price. This is the highest proportion of homes at or above asking price.
- #sold: 56 vs 58 in 2021 vs (3.4% decrease)
- Median price: $2,375,000 vs $2,550,000 in 2021 (no change)
- DOM: 32 vs 40 in 2021 (8 days faster)
- Listing/sold ratio: 101.8% vs 101% in 2021
- % sold at or above asking: 75% at or above listing vs 58% in 2021
- Price per sq ft: $1,063.40 vs $879.78 in 2021 (20.8% increase)
Highest Sold Single-Family Home in March
Lanikai, Kailua – 2 Homes Sold Together
Total: 8 bedrooms | 8 bathrooms | 2 half baths | 8,204 square feet living | 20,111 sq ft land
Why this property is spectacular: 2 Exquisite Modern Homes on Iconic Lanikai Beach. Expansive living spaces with floor to ceiling windows showcase the stunning turquoise waters, sparkling white sands & world famous Mokulua Islands. Streamlined minimalist design & lush tropical landscaping create a private resort-like oasis.
Sold at: $23,888,888 without listing to the executive of a California venture capital firm.
Picture from Honolulu Board of Realtors
Condominiums
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.
- #sold: 15 vs 21 in 2021 (28.5% decrease)
- Median price: $2,231,000 vs $2,550,000 in 2021 (12.5% decrease)
- DOM: 117 vs 103 in 2021 (14 days slower)
- Listing/sold ratio: 93.6% vs 97% in 2021
- % sold at or above asking: 0% at or above listing vs 24% in 2021
- Price per sq ft: $1,667.44 vs $1,720.04 in 2021 (3% decrease)
Highest Sold Condo in March
Park Lane, Ala Moana
4 bedrooms | 4.5 baths | 4,200 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 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.
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
SFH Stats May 2022 vs. May 2021
- 13 sold, down 46% from 24
- Median Price $2,272,000, up 5% from $2.15M
- $1,045/sq ft, up 6% from $985
- Selling for 100% of list price, compared to 98.8%
- 6 DOM, 22 days faster
- Inventory down 44%
- The most active price range is $2,200,000-$2,599,999
Condo Stats May 2022 vs. May 2021
- 17 sold, down 32% from 25
- Median Price $1,354,500 up 13% from $1.2M
- $995/sq ft, up 25% from $798
- Selling for 100% of list price, compared to 99.6%
- 15 DOM, 13 days faster
- Inventory down 10%
- The most active price range is $1,200,000-$1,399,999
Single-Family Home Top Sale of the Second Quarter
Kukui’ula, Koloa, 7 bedrooms | 8 full bathrooms | 6,625 square foot interior | 2.9 acres land
Why this property is spectacular: Set on nearly 3 acres on Kauai’ South Shore, this spacious home is part of the residential resort community Kukui’ula. It offers a access to a golf course, Makai Pools, 18,000 sq ft spa, and more.
Sold at: $20,000,000 in June before listing to an investment company in Wyoming.
Picture courtesy of Redfin.com
Condo Top Sale of the Second Quarter
Timbers Kauai Resort, Hokuala, 4 bedrooms | 4.5 bathrooms | 2,892 square foot interior
Why this property is spectacular: This luxury condo is part of the exclusive Timbers Kauai Resort. Its world class amenities include a Jack Nicklaus-designed golf course, farm -to-table, dining, and spectacular views.
Sold at: $6,075,000 in April after 296 days on market to an investment company in California.
Picture from TimbersKauai.com
Maui Market Update & Top Sales
SFH Stats May 2022 vs. May 2021
- 33 sold, down 3% from 34
- Median Price $2,950,000, up 26% from $2.33M
- $1,434/sq ft, up 58% from $906
- Selling for 100% of list price, compared to 96.9%
- 99 DOM, 25 days faster
- Inventory up 11%
- The most active price range is $1,600,000-$1,699,999
Condo Stats May 2022 vs. May 2021
- 31 sold, down 38% from 50
- Median Price $1,925,000, up 10% from $1.75M
- $1,963/sq ft, up 11% from $1,370
- Selling for 100% of list price, compared to 97.8%
- 69 DOM, 34 days faster
- Inventory up 60%
- The most active price range is $1,900,000-$1,999,999
Single-Family Home Top Sale of the Second Quarter
Makena, Kihei, 8 bedrooms | 8 bathrooms | 10,464 square feet interior | 1 acre of land
Why this property is spectacular: Pono Kai’a is an exceptional property is located minutes away from world class luxurious amenities of Discovery’s Makena Golf & Beach Club as well as the Wailea resorts. It offers unobstructed views of the breathtaking turquoise waters of Ahihi Bay, Kahoolawe and Molokini in your own slice of paradise.
Sold at: $26,490,700 in May after 132 days on market to a family in California.
Picture from Redfin.com
Condo Top Sale of the Second Quarter
Wailea Beach Villages, Kihei, 3 bedrooms | 3.5 bathrooms | 2,889 square foot interior
Why this property is spectacular: This ground floor unit is a rare find with a plunge pool and a very private yard. Residents will also enjoy two swimming pools and spas, fully equipped fitness center, billiards room, owner’s lounge and features full resort amenities including concierge service, staffed front desk; housekeeping, beach attendants, beach front pool and 24 hour gated security.
Sold at: $12,000,000 in April after 127 days on market to an investment company from California.
Picture from Redfin.com
Hawaii Island Market Update & Top Sales
SFH Stats May 2022 vs. May 2021
- 32 sold, down 20% from 40
- Median Price $2,100,000, down 14% from $2.4M
- $861/sq ft, up 24% from $694
- Selling for 98.8% of list price, compared to 97.8%
- 14 DOM, 33 days faster
- Inventory up 28%
- The most active price range is $1,300,000-$1,399,999
Condo Stats May 2022 vs. May 2021
- 36 sold, up 112% from 17
- Median Price $1,852,000, up 14% from $1.63M
- $942/sq ft, up 22% from $773
- Selling for 100% of list price, compared to 98%
- 9 DOM, 2 days faster
- Inventory up 31%
- The most active price range is $1,000,000-$1,099,999
Single-Family Home Top Sale of the Second Quarter
Kukio, Kailua-Kona, 6 bedrooms | 8 bathrooms | 8,891 square foot interior
Why this property is spectacular: Property owners are extended the opportunity to apply to the Kukio Golf & Beach Club: an oceanfront private club with world class amenities including Tom Fazio designed 18-hole Championship Golf Course and 10-hole short course, two clubhouses with private dining, sports complex, ocean pursuits center, and a comprehensive indoor and outdoor spa. Gatehouse entry with 24-hour manned security.
Sold at: $21,250,000 in May after 43 days on market to a South Korean investor associated with Samsung.
Picture from Redfin.com
Condo Top Sale of the Second Quarter
Hapuna Beach Residences, Kamuela, 4 bedrooms | 4 bathrooms | 3,543 square foot interior
Why this property is spectacular: A rare and historic opportunity to own what may be the last beachfront residences in the world so magnificently located. These beachy contemporary residences feature European Oak wood flooring, high-end appliances just steps away from one of the best white sand beaches in the world.
Sold at: $8,200,000 in April after 103 days on market to a Japanese investment company.
Picture from Zillow.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