The luxury home market is picking up, with the highest number of sales since August 2022. The condo market is seeing a return of mainland and international buyers. In the past three months, of the 21 luxury condo sales with updated buyer information, 57% were mainland buyers and 24% were foreign buyers. There have been a lot of price changes recently, so pricing is very important. Sellers, know that there are serious buyers out there but remember to have patience.
Whether you are selling or buying, 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
June 2023 vs. May 2023 for SFH $1.8M+
- #sold: 39 vs 32 (up 28.8%)
- Median price: $2,200,000 vs $2,575,000 (down 14.5%)
- DOM: 52 vs 61 (9 days faster)
- Listing/sold ratio: 98.1% vs 95.8%
- % sold at or above asking: 49% at or above listing vs 25%
- Price per sq ft: $1,050.67 vs $1,103.51 (down 4.8%)
Highest Sold Single-Family Home
Diamond Head
4 bedrooms | 4.5 baths | 3,996 sq ft living | 5,885 sq ft land
Why this property is spectacular: Enjoy gorgeous ocean views from virtually every room of this stunning modern luxury residence, which fronts a beautiful, expansive sandy beach coastline. Walls of glass maximize the sweeping panoramic views. This home’s unique position captures views of the historic Diamond Head Lighthouse. Extensively renovated in 2016. Former home of fashion designer Geoffrey Beene.
Condominiums
June 2023 vs May 2023 for Condos $1.8M+
- #sold: 5 vs 8 (down 37.5%)
- Median price: $2,600,000 vs $3,825,000 (down 32%)
- DOM: 71 vs 127 (56 days faster)
- Listing/sold ratio: 93.4% vs 98.5%
- % sold at or above asking: 0% at or above listing vs 37%
- Price per sq ft: $1,839.63 vs. $2,394.13 (down 23.1%)
Highest Sold Condo
Park Lane, Ala Moana
3 bedrooms | 3.5 baths | 2,955 sq ft living
Why this property is spectacular:
7th floor residence at Honolulu’s preeminent, luxury residential property, Park Lane Ala Moana! This three bedroom, three bath features coastline and garden views. Enjoy Park Lane’s abundant amenities, including barbecue cabanas, a fitness center, steam sauna, pool and hot tub, children’s play area, theatre, and dog park.
Sold at: $7,700,000 after 52 days on market to buyers from California.
Source: State Tax Office & Bureau of Conveyances
