3rd QTR 2022 Oahu Luxury Real Estate Update

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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 single-family home categories and two condominium price segments. Single-family home sales for Q3 2022 priced from $2 to $3 million declined 16.9% compared to Q3 2021, with 64 homes sold in the quarter versus 77 homes in the same period a year ago. Months’ supply of inventory increased 25.7% compared to last year, increasing to 4.9 months from 3.9 months. For single-family homes in the $3 to $5 million range, sales fell from 32 in Q3 2021 to 21 in Q3 2022, decreasing 34.4% from the same time last year. Months’ supply of inventory decreased 1.4% to 5.2 months from 5.3 months last year. In the $5 to $10 million range, 8 single-family homes sold in Q3 2022, down 20% from the 10 homes sold during the same quarter last year. Months’ supply of inventory increased by 49.9% to 14.5 months from 9.7 months in Q3 2021.

One single-family home sold at or above $10 million in Haleiwa during Q3 2022, down from two sales in that price range in Q3 2021. The sale was at $14,000,000 for a home in the Sunset/Velzy area. Months’ supply of inventory fell from 21 months in Q3 2021 to 7 months in the third quarter of 2022. Condo sales in the $1 to $2.5 million range decreased 11.8% in Q3 2022 from Q3 2021, with 97 closed sales in Q3 2022 versus 110 closed sales in the third quarter last year. Months’ supply of inventory fell 10.3% to 5.9 months from 6.5 months in Q3 2021. Sales for condos priced at $2.5 million and higher fell to 14 in Q3 2022 compared to 22 sales in Q3 2021, a decline of 36.4%. Months’ supply of inventory fell 25.7% compared to Q3 2021, to 9.9 months from 13.4 months. Two condos sold at or above $5 million in Q3, one unit at Waiea and one unit at Park Lane. The top sale was at $7,500,000 for a unit at Waiea.

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FOREIGN INVESTMENT $1 - $2 MILLION

Source: Title Guaranty Hawaii, through June 2022.

2022

#

$

JAPAN

11

CANADA

2021

#

$

$15,060,900

JAPAN

64

6

$9,401,450

KOREA

11

KOREA

3

$5,287,000

CANADA

GUAM

2

$2,315,000

AMERICAN SAMOA

1

$1,600,000

2022

#

$

JAPAN

8

HONG KONG

2

AUSTRALIA BARBADOS CHINA

2020

#

$

$86,855,832

JAPAN

9

$14,210,150

CANADA

3

7

$10,389,250

KOREA

CHINA

6

$7,684,475

GUAM

5

$7,255,150

2021

#

$

$24,466,000

JAPAN

19

$4,600,000

KOREA

4

1

$8,000,000

CANADA

1

$6,000,000

HONG KONG

1

$5,600,000

2019

#

$

$14,331,133

JAPAN

68

$98,359,775

$3,689,000

KOREA

10

$14,187,000

2

$3,030,000

HONG KONG

5

$8,809,000

UNITED KINGDOM

1

$1,925,000

CANADA

4

$6,106,000

SINGAPORE

1

$1,803,100

TAIWAN

2

$2,443,000

2020

#

$

2019

#

$

$80,643,283

JAPAN

13

$48,241,333

JAPAN

33

$116,429,433

$20,150,000

CANADA

4

$11,755,000

KOREA

4

$10,220,900

4

$14,175,200

SINGAPORE

2

$11,800,000

SINGAORE

2

$6,802,000

2

$10,150,000

GUAM

2

$6,925,000

CANADA

1

$3,635,000

$5,800,000

MALAYSIA

1

$2,400,000

$2 MILLION +

TAIWAN

1

All Data from the HiCentral MLS, Ltd. Report © 2022 ShowingTime.

$4,050,000

NEW ZEALAND

2

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