Oahu Luxury Market Overview
Luxury homes sales started the year off strong, with increases in most metrics quarter-over-quarter. Sales volume increased slightly, while median price rose 8.9% from Q4. Price per square foot increased over 20% and a larger proportion of luxury homes sold at or above asking price. However, homes sold 14 days slower, on average. The most active luxury price range is $1,800,000-$2,999,999, with 66% of sales in Q1. This is also the most active range for active listings, with 45.3% of homes for sale in this range. More than 50% of luxury homes sold in Q1 were sold to Hawaii residents.
Although luxury condo sales volume was lower by only one condo quarter-over-quarter, other metrics showed large decreases. Median price dropped nearly 6%, luxury condos sold about two months slower, and a much smaller percentage of luxury condos sold at or above asking price than in Q4. However, price per square foot increased over 6%, condos. Sales at Victoria Place in Kaka’ako continued to make up a large portion of luxury condo sales each month. Nearly a third of luxury condo sales were to Hawaii residents, with Japanese corporations making up almost a fifth of sales.
Click through this report to learn more about what happened in the Oahu luxury real estate market in the first quarter of 2025. See the the top single-family home and condominium sales, data on active listings and escrows, and statistical comparisons to quarter 4 2024.
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. Follow us on YouTube for weekly videos on the Hawaii real estate market and local community.
Curious about the value of your home?
Online tools like Zillow offer convenient estimates of home values. However, they often lack the nuanced understanding and personal touch that a real estate agent provides. Click here to learn why it’s important to get an expert assessment of the value of your home, whether you’re making plans to sell, are wealth or financial planning, or are just curious.
