Oahu Luxury Real Estate Update
Luxury Home Overview
In August, luxury home sales increased over 18% from July. Median price also rose, up 16% from last month, to the highest since March of this year. Price per square foot also rose month-to-month. Days on market dipped slightly, from 50 in July to 53 in August. A smaller proportion of homes sold at or above asking price and there were significantly more price reductions compared to July.
Available inventory in the $1.8-$2.9M range decreased notably but was complemented by an almost equal increase in pending sales in the same price range. There was little change in available inventory or pending sales in the other price ranges.
Luxury Condo Overview
Luxury condo sales in August soared to 21, the highest number since June 2021. This was largely driven by sales at Victoria Place, which comprised 38% of sales. Luxury condo median price increased by over 10% from July. However, price per square foot decreased about 10%, a smaller percentage of condos sold at or above asking price, and there were significantly more price changes than in July.
On average, luxury condos sold for 97% of the asking price, up slightly from July’s 96.2%. Although luxury condos also sold more slowly in August, it is encouraging to see a number of condos sell that had been on the market for over 200 days. There was little change in available or pending listings in all price ranges.
Click through the report below for the full update on what happened in Oahu luxury real estate in August. Click here for a quarter 2 2025 report on Oahu’s luxury real estate market. Visit our YouTube channel and subscribe for weekly videos on Oahu’s real estate market, featured properties, and our local community.
Your Luxury Hawaii Real Estate Experts
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. These skills 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
