The number of luxury single-family homes sold in January remained the same as in December 2023. This is the first time since we’ve been keeping data that January has not had a decrease in sales compared to December, as shown in the chart. The sales volume is still lower than in the previous months, but the low number of sales is primarily due to the lack of inventory. There is a lot of activity in the market and a lot of buyers out there. While the median price increased slightly, price per square foot was up 38%. 57% of homes sold at or above asking price and received 99.2% of the list price. High percentages like this haven’t been seen in months. Homes sold 19 days faster than they did in December.
The number of luxury condos sold in January was also down compared to December. Median price increased significantly and was the highest it’s been since last May. The price per square foot also increased compared to December. Condos sold more slowly but received a greater proportion of the list price.
Whether you are selling or buying Hawaii luxury real estate, it’s essential to work with an experienced, knowledgeable realtor who can guide you through the current market. Expert pricing and negotiation are key strengths of the realtors at Caron B Realty and have allowed us to bring record-breaking sales and multiple offers on our client’s listings. 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
Single-Family Homes
SFH January 24 vs December 23 $1.8M+
- #sold: 21 vs 21 (no change)
- Median price: $2,400,000 vs. $2,350,000 (up 2.1%)
- DOM: 46 vs 65 (19 days faster) | CDOM 50 vs. 70 (20 days faster)
- Listing/sold ratio: 99.4% vs 95.5%
- % sold at or above asking: 57% at or above listing vs 23%
- Price per sq ft: $1,295.63 vs $933.76 (up 38.7%)
Highest Sold Single-Family Home
Kawaiola, North Shore
7 bedrooms | 5 bathrooms | 3 half baths | 6,514 sq ft living | 26,995 sq ft land
Why this property is spectacular: Hawaiian luxury surf lifestyle estate fronting two of the most consistent and well-known surf breaks on Oahu’s North Shore, Chuns reef right hand break and Piddleys lefts. A surfer’s paradise situated on a nearly 27,000 sqft lot that boasts over 116’ of linear beach frontage. The soaring, nearly 20’ ceilings in the living room add the grand expanse of this custom dream home. Highlights include Thermador appliances, 70 PV Solar panels, 3 Tesla powerwall batteries for backup storage, Ipe, African Mahagony, Marble, Soapstone, Oak, & more.
Sold at: $14,400,000 after 335 days on market to a buyer from Utah.
Condominiums
Condos January 24 vs December 23 $1.8M+
- #sold: 6 vs 8 (down 25%)
- Median price: $3,025,000 vs $2,195,000 (up 37.8%)
- DOM: 105 vs 56 (49 days slower) | CDOM 105 vs. 102 (3 days slower)
- Listing/sold ratio: 95% vs 92.2%
- % sold at or above asking: 16% at or above listing vs 0%
- Price per sq ft: $1,989.05 vs. $1,758.29 (up 13.1%)
Highest Sold Condo
Waiea, Kaka’ako
3 bedrooms | 3.5 baths | 2,666 sq ft living
Why this property is spectacular: Located in the preferred “A” stack with stunning ocean, marina and Diamond Head views, this corner unit features 9’6” built-out ceiling height, custom designed cabinetry, Miele appliances, gas cooking, additional wine cooler and refrigerator. Units in the “A” stack come with a dedicated elevator opening up to your private 217 sqf foyer. Enjoy the resort style amenities and concierge services. Sale includes two parking stalls with EV charger and a large storage room
Sold at: $7,000,000 after 209 days on market.
Source: State Tax Office & Bureau of Conveyances
Pictures from Honolulu Board of Realtors
