Aloha
and welcome to The Oahu Quarterly Luxury Market Report from List Sotheby’s International Realty, where we take a closer look at the most recent real estate activity here on Oahu. Our report breaks the Oahu luxury home market into four singlefamily home and two condominium price segments. Single-family home sales for Q2 2019 priced from $1 to $2 million decreased 11.3% compared to Q2 2018, with 204 homes sold. Months’ supply of inventory increased 24.3% compared to last year at this time to 7.6 months. For single-family homes in the $2 to $3 million range, sales were even with the mark of 25 from the year prior. Months’ supply of inventory increased 7.8% to 13.9 months for the quarter. The six single-family home sales priced from $3 to $5 million was a decrease of 40.0% compared to last year’s ten homes sold.
Months’ supply of inventory had a year-over-year increase of 23.1% to 18.4 months. Five single-family homes sold at or above $5 million in Q2 2019, including two East Oahu homes, one Windward Oahu home and one North Shore home. The top sale was at $8,729,307 for a home in Beachside. As for condominiums, seven units closed in Q2 2019 at or above $5 million, including three units in Kakaako and three units in Waikiki/ Diamond Head. The top sale was at $7,500,000 for a unit in the Ritz-Carlton Residences in Waikiki. Sales in the $800 thousand to $1 million range for Q2 2019 were down 13.5% compared to Q2 2018. The 77 closed sales landed behind last year’s 89 sales. Months’ supply of inventory was up 63.2% to 8.7 months. Continued on Page 3
FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through March 2019.
2019
#
$
JAPAN
27
$39,001,775
2018
#
$
JAPAN
133 9
2017
#
$
2016
$188,796,404
JAPAN
82
$111,518,829
JAPAN
$13,176,500
#
$
135
$203,375,491
HONG KONG
4
$6,934,000
KOREA
CHINA
10
$14,214,165
CANADA
8
$10,419,000
KOREA
4
$5,456,000
TAIWAN
8
$10,728,600
KOREA
3
$4,430,000
CHINA
6
$8,275,100
CANADA
3
$4,351,000
CANADA
8
$10,575,100
TAIWAN
3
$3,466,758
KOREA
3
$6,118,900
TAIWAN
2
$2,443,000
CHINA
5
$6,057,400
CANADA
2
$2,875,000
HONG KONG
4
$5,241,800
2019
#
$
2018
#
$
2017
#
$
2016
#
$
JAPAN
6
$19,461,250
JAPAN
57
$220,699,504
JAPAN
63
$268,891,006
JAPAN
78
$333,303,959
KOREA
1
$2,065,900
KOREA
5
$24,808,800
HONG KONG
11
$66,957,353
HONG KONG
6
$22,209,744
HONG KONG
3
$12,145,800
SINGAPORE
7
$33,980,786
CHINA
5
$20,949,835
SINGAPORE
2
$18,403,800
CHINA
4
$16,244,754
SINGAPORE
4
$14,649,871
CANADA
2
$5,848,800
KOREA
5
$15,740,000
AUSTRALIA
2
$11,627,100
$2 MILLION +
All Data from the HiCentral MLS, Ltd. Report © 2019 ShowingTime.
Visit www.ListSothebysRealty.com | 1