Single-Family Homes
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
Diamond Head
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.
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.
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.
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 February 2022 vs. February 2021
- 17 sold, up 21% from 14
- Median Price $2,000,000, up 5% from $1.9M
- $878/sq ft, up 26% from $698
- Selling for 97.6% of list price, compared to 95.2%
- 15 DOM, 25 days faster
- Inventory down 62%
- The most active price range is $1,300,000-$1,399,999
Condo Stats February 2022 vs. February 2021
- 22 sold, up 69% from 13
- Median Price $1,438,676, up 25% from $1.15M
- $799/sq ft, down 5% from $840
- Selling for 100% of list price, compared to 96.9%
- 12 DOM, 2 days slower
- Inventory down 44%
- The most active price range is $950,000-$999,999
Single-Family Home Top Sale of the First Quarter
Anini Vista, Kilauea, 6 bedrooms | 5 full bathrooms | 3 half baths | 10,320 sq ft interior | 6.78 acres land
Why this property is spectacular: Situated high above the beaches and lagoons of Anini on Kauai’s North Shore, this location offers sweeping views in almost every direction. There are three guest suites, a wine cellar, media room, and a pool and spa.
Sold at: $31,500,000 in March before listing to a local investment company.
Picture courtesy of Redfin.com
Condo Top Sale of the First Quarter
Timbers Kauai Resort, Hokuala, 3 bedrooms | 3.5 bathrooms | 2,464 sq ft interior
Why this property is spectacular: This property is located above the 15th hole of the award winning Hokuala Ocean Course and offers stunning views of the Pacific and Ninini Pt. Lighthouse. It features an open layout with wall to wall glass doors that open to seamless indoor/outdoor living.
Sold at: $4,700,00 in February after 143 days on market to an investment company from Oregon.
Picture from Estately.com
Maui Market Update & Top Sales for November
SFH Stats February 2022 vs. February 2021
- 21 sold, down 28% from 29
- Median Price $1,900,000, down 46% from $3.55M
- $837/sq ft, down 21% from $1,060
- Selling for 100% of list price, compared to 95.7%
- 65 DOM, 65 days faster
- Inventory down 13%
- The most active price range is $1,800,000-$1,999,999
Condo Stats February 2022 vs. February 2021
- 35 sold, up 40% from 25
- Median Price $1,675,000, down 1% from $1.7M
- $1,394/sq ft, up 11% from $1,257
- Selling for 100% of list price, compared to 98.5%
- 68 DOM, 156 days faster
- Inventory down 52%
- The most active price range is $1,300,000-$1,399,999
Single-Family Home Top Sale of the First Quarter
Makena, Kihei, 6 bedrooms | 7 bathrooms |6,869 sq ft interior | 1 acre of land
Why this property is spectacular: Set on Makena Landing Beach Park, this home offers spectacular views and adjacent to Wailea Golf Club. See feature below for more information.
Sold at: $18,500,000 in March after 47 days on market to an investment company from New York.
Picture from Redfin.com
Condo Top Sale of the First Quarter
Montage Residences Kapalua Bay, Lahaina, 3 bedrooms | 3.5 bathrooms | 2,904 sq ft interior
Why this property is spectacular: Overlooking the white sandy crescent of Kapalua Bay, this condo has panoramic ocean views framed by the neighboring islands of Molokai and Lanai. This residence was sold fully furnished and turnkey.
Sold at: $8,000,000 February after 25 days on market to an investment company from Washington state.
Picture from HawaiiHouse.com
Hawaii Island Market Update & Top Sales for November
SFH Stats February 2022 vs. February 2021
- 31 sold, down 14% from 36
- Median Price $1,485,000, down 9% from $1.63M
- $754/sq ft, up 4% from $724
- Selling for 99.4% of list price, compared to 98.2%
- 21 DOM, 3 days slower
- Inventory down 35%
- The most active price range is $1,100,000-$1,199,999
Condo Stats February 2022 vs. February 2021
- 24 sold, up 9% from 22
- Median Price $1,407,500, down 1% from $1.42M
- $971/sq ft, up 44% from $673
- Selling for 100% of list price, compared to 98.1%
- 7 DOM, 24 days faster
- No change in inventory
- The most active price range is $1,100,000-$1,199,999
Single-Family Home Top Sale of the First Quarter
Kukio, Kailua-Kona, 6 bedrooms |4.5 bathrooms | 5,165 sq ft interior
Why this property is spectacular: Floor-to-ceiling pocket doors open to an outdoor living area with expansive ocean views. 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.
Sold at: $25,000,000 in March after 27 days on market to any attorney from Washington state.
Picture from Redfin.com
Condo Top Sale of the First Quarter
Hapuna Beach Residences, Kamuela, 2 bedrooms | 2 bathrooms | 1,548 sq ft interior
Why this property is spectacular: A contemporary beachfront residence, this property has incredible views, European oak flooring, and a private pool. This is a ground floor unit with a private pool and direct beach access.
Sold at: $6,100,000 in January before listing to an investment company from Illinois.
Picture from Estately.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