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. The Oahu luxury home market report is broken down into four singlefamily home categories and two condominium price segments. Single-family home sales for Q3 2023 priced from $2 to $3 million declined 32.8% compared to Q3 2022, with 43 homes sold in the quarter as compared to 64 homes in the same period a year ago. Months’ supply of inventory increased 26.5% compared to last year, rising to 6.2 months in Q3 2023 from 4.9 months in Q3 2022. For single-family homes in the $3 to $5 million range, sales fell from 21 in Q3 2022 to 18 in Q3 2023, a decrease of 14.3% from the same time last year. Months’ supply of inventory increased 87.7% to 10.7 months from 5.7 months last year.
In the $5 to $10 million range, twelve single-family homes sold in Q3 2023, up from nine homes sold during the same quarter last year. Months’ supply of inventory decreased slightly to 13.7 months from 13.8 months in Q3 2022. There was one single-family home sold at or above $10 million in Q3 2023, which matched the single sale in Q3 2022. The only sale was a home in Makiki Heights that sold for $10,500,000. Months’ supply of inventory doubled, climbing from 7 months in Q3 2022 to 14 months in the third quarter of 2023. Condo sales in the $1 to $2.5 million range increased 8.2% in Q3 2023 from Q3 2022, with 105 closed sales in third quarter this year versus 97 closed sales in the third quarter last year. Months’ supply of inventory increased 27.9% to 7.8 months from 6.1 months in Q3 2022.
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FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through June 2023.
2023
#
$
2022
#
$
2021
#
$
2020
#
JAPAN
22
$30.554.750
JAPAN
49
$65,003,850
JAPAN
64
$86,855,832
JAPAN
9
$14,331,133
KOREA
2
$3,084,000
KOREA
21
$28,081,200
CANADA
11
$14,210,150
KOREA
3
$3,689,000
CANADA
1
$1,385,000
CANADA
15
$20,052,650
KOREA
7
$10,389,250
HONG KONG
2
$3,030,000
NEW ZEALAND
1
$1,330,000
TAIWAN
3
$3,389,000
UNITED KINGDOM
6
$7,684,475
CANADA
1
$1,925,000
AMERICAN SAMOA
1
$1,275,000
GUAM
2
$2,315,000
SINGAPORE
5
$7,255,150
TAIWAN
1
$1,803,100
2023
#
$
2022
#
$
2021
#
$
2020
#
$
JAPAN
13
$53,182,000
JAPAN
13
$40,011,000
JAPAN
19
$80,643,283
JAPAN
13
$48,241,333
KOREA
2
$5,200,000
KOREA
4
$15,750,000
KOREA
4
$20,150,000
CANADA
4
$11,755,000
HONG KONG
3
$8,613,600
CANADA
4
$14,175,200
SINGAPORE
2
$11,800,000
CHINA
2
$11,550,000
HONG KONG
2
$10,150,000
GUAM
2
$6,925,000
TAIWAN
1
$9,200,000
TAIWAN
1
$4,050,000
NEW ZEALAND
2
$5,800,000
$
$2 MILLION +
All Data from the HiCentral MLS, Ltd. Report © 2023 ShowingTime.
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