Aloha
and welcome to The Oahu Quarterly Luxury Market Report from List Sotheby’s International Realty, where we take a closer
In the $5 to $10 million range, seven single-family homes sold in Q1 2024, one fewer than the eight homes sold during the same quarter last year.
look at the most recent real estate activity here on Oahu.
Months’ supply of inventory decreased 35.7% to 11.7 months from 18.2 months in Q1 2023.
The Oahu luxury home market report is broken down into four singlefamily home categories and two condominium price segments. Single-family home sales for Q1 2024 priced from $2 to $3 million increased 29.7% compared to Q1 2023, with 48 homes sold in the quarter as compared to 37 homes in the same period a year ago. Months’ supply of inventory increased 67.4% compared to last year, rising to 7.2 months in Q1 2024 from 4.3 months in Q1 2023. For single-family homes in the $3 to $5 million range, sales fell from 14 in Q1 2023 to 10 in Q1 2024, decreasing 28.6% from the same time last year. Months’ supply of inventory increased 42.5% to 11.4 months from eight months last year.
There were five single-family homes sold at or above $10 million in Q1 2024, 150% more than the two homes sold in Q1 2023. These sales included one in Kahala, two on the North Shore, one in Diamond Head and one in Beachside. The top sale was at $14,400,000 for a home on the North Shore. Months’ supply of inventory decreased 16.8%, declining from 13.7 months in Q1 2023 to 11.4 months in the first quarter of 2024. Condo sales in the $1 to $2.5 million range decreased 35.1% in Q1 2024 from Q1 2023, with 61 closed sales in first quarter this year versus 94 closed sales in the first quarter last year. Months’ supply of inventory increased 27.7% to 10.6 months from 8.3 months in Q1 2023.
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FOREIGN INVESTMENT $1 - $2 MILLION
Source: Title Guaranty Hawaii, through December 2023.
2023
#
$
2022
#
$
2021
#
$
2020
#
JAPAN
92
$120.686.450
JAPAN
49
$65,003,850
JAPAN
64
$86,855,832
JAPAN
9
$14,331,133
KOREA
8
$11.082.400
KOREA
21
$28,081,200
CANADA
11
$14,210,150
KOREA
3
$3,689,000
CANADA
6
$7.360.800
CANADA
15
$20,052,650
KOREA
7
$10,389,250
HONG KONG
2
$3,030,000
CHINA
4
$4,294,650
TAIWAN
3
$3,389,000
UNITED KINGDOM
6
$7,684,475
CANADA
1
$1,925,000
2
$2,700,000
GUAM
2
$2,315,000
SINGAPORE
5
$7,255,150
TAIWAN
1
$1,803,100
AMERICAN SAMOA
$
$2 MILLION + 2023
#
$
2022
#
$
2021
#
$
2020
#
$
JAPAN
26
$102,572,000
JAPAN
13
$40,011,000
JAPAN
19
$80,643,283
JAPAN
13
$48,241,333
CAYMAN ISLANDS
1
$27,500,000
KOREA
4
$15,750,000
KOREA
4
$20,150,000
CANADA
4
$11,755,000
KOREA
3
$7,338,000
HONG KONG
3
$8,613,600
CANADA
4
$14,175,200
SINGAPORE
2
$11,800,000
TAIWAN
2
$6,000,000
CHINA
2
$11,550,000
HONG KONG
2
$10,150,000
GUAM
2
$6,925,000
$2,800,000
TAIWAN
1
$9,200,000
TAIWAN
1
$4,050,000
NEW ZEALAND
2
$5,800,000
PUERTO RICO
1
All Data from the HiCentral MLS, Ltd. Report © 2024 ShowingTime.
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