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 Q2 2023 priced from $2 to $3 million declined 42% compared to Q2 2022, with 47 homes sold in the quarter as compared to 81 homes in the same period a year ago. Months’ supply of inventory increased 1.9% compared to last year, rising to 5.3 months in Q2 2023 from 5.2 months in Q2 2022. For single-family homes in the $3 to $5 million range, sales fell from 38 in Q2 2022 to 14 in Q2 2023, a decrease of 63.2% from the same time last year. Months’ supply of inventory increased 124.4% to 10.1 months from 4.5 months last year.
In the $5 to $10 million range, ten single-family homes sold in Q2 2023,
up slightly from the nine homes sold during the same quarter last year. The top sale was at $8,675,000 for a home in Kailua. Months’ supply of inventory increased by 65.8% to 19.9 months from 12 months in Q2 2022. There were zero single-family homes sold at or above $10 million in Q2 2023, down from four homes sold in Q2 2022. Months’ supply of inventory increased 62.5%, climbing from 8 months in Q2 2022 to 13 months in the second quarter of 2023. Condo sales in the $1 to $2.5 million range decreased 40.6% in Q2 2023 from Q2 2022, with 95 closed sales in second quarter this year versus 160 closed sales in the second quarter last year. Months’ supply of inventory increased 63.5% to 8.5 months from 5.2 months in Q2 2022.
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FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through March 2023.
2023
#
$
2022
#
$
2021
#
$
2020
#
JAPAN
9
$12,151,550
JAPAN
49
$65,003,850
JAPAN
64
$86,855,832
JAPAN
9
$14,331,133
NEW ZEALAND
1
$1,330,000
KOREA
21
$28,081,200
CANADA
11
$14,210,150
KOREA
3
$3,689,000
AMERICAN SAMOA
1
$1,275,000
CANADA
15
$20,052,650
KOREA
7
$10,389,250
HONG KONG
2
$3,030,000
CHINA
1
$1,036,950
TAIWAN
3
$3,389,000
UNITED KINGDOM
6
$7,684,475
CANADA
1
$1,925,000
GUAM
2
$2,315,000
SINGAPORE
5
$7,255,150
TAIWAN
1
$1,803,100
$
$2 MILLION + 2023
#
$
2022
#
$
2021
#
$
2020
#
$
JAPAN
6
$18,195,000
JAPAN
13
$40,011,000
JAPAN
19
$80,643,283
JAPAN
13
$48,241,333
KOREA
1
$2,050,000
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
All Data from the HiCentral MLS, Ltd. Report © 2023 ShowingTime.
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