Oahu Luxury Real Estate Statistics- April 2012
05/10/12
The highest priced sale of a luxury single-family home for the month of April on Oahu was a 6,800 square foot, 6 bedroom, 8 bathroom estate in the Beachside neighborhood of Kailua. This exclusive beachfront residence by Kerr Michaels offers spectacular views, unsurpassed craftsmanship, and extensive use of natural materials. Mahogany glass doors pocket to reveal the beach & lush courtyard, pool, spa, water features. This home closed at $6.95 million, and was on the market for 214 days.
The second highest sale was a stunning Kahala estate. This 5 bedroom, 4.5 bathroom, 5,600 square foot home on a double lot on Aukai Avenue features a dream kitchen, formal and casual living spaces, and lush tropical grounds with a pool and waterfall. This property closed at $4.8 million.
The median sales price for luxury single-family homes for April was $1.915 million and the average Days on Market was 117. There were a total of 25 luxury single-family homes sold, and 48 new homes added to the market last month.
For Condominiums in the luxury market on Oahu in the month of April, the highest sale was a 3 bedroom, 2 bathroom unit at 3003 Kalakaua Avenue, in the highly-desired Gold Coast neighborhood of Diamond Head. This oceanfront, 1,984 square foot residence has amazing sunset views to be enjoyed by a large 320 square foot lanai. This residence closed at $2.8 million.
The second highest luxury condo sale was a 2 bedroom, 2.5 bathroom downtown condo in the Alakea Corporate Building. Dual zoned, including a commercial/office space and fantastic downtown views. This property closed at $2.5 million and was a cash transaction.
The median sales price for luxury condominiums last month was $1.599 million, and condos closed a bit faster than single-family homes, with the Average Days on Market being 61. There were a total of 7 luxury condos sold last month, and 16 new listings added to the market.
Oahu Luxury Real Estate Statistics- March 2012
05/03/12
The highest single-family home sale on Oahu last month was sold by Caron! She represented a buyer on the purchase of a 5,000 square foot ocean view home on the slopes of Diamond Head, in a prestigious and private neighborhood. This luxurious estate with 3 bedrooms and 3 bathrooms overlooks the world-famous Doris Duke Estate. Recently remodeled in 2009, this home features stone flooring, a custom kitchen, a lagoon-style pool and waterfall and a movie theatre. This transaction closed at $5 million, and was a cash transaction.
The second highest sale closed at $4.333 million, and was also in the Diamond Head neighborhood. This 5 bedroom, 4 bath home is located on a private lane with deeded beach access. This island home has been completely renovated and has tropical grounds, and ocean views. Not to our surprise, this was also a cash transaction.
There were 32 sales last month of Single-Family homes in the luxury market, and 60 new listings added. The average days on market was 62 days, and the median sales price was $1.2 million. Total last month, there were 341 luxury listings on the market.
The highest condo sale last month was a 3 combined-unit property in the Colony Surf on the highly desired Gold Coast of the South Shore. This very rare 3 bedroom, 3 bathroom property with unobstructed panoramic sunset views was exquisitely remodeled in 2004. It closed at $2.85 million, cash.
For luxury condos, there were a total of 8 sold last month, and 13 new listings added to the market. The average days on market was 67 days, and the median sales price for luxury condos was $1.225 million, interestingly higher than the single-family homes median sales price! There were a total of 116 luxury condos on the market last month.
Oahu Luxury Real Estate Statistics- February 2012
03/12/12
In the month of February, there were 29 luxury single-family homes sold. The highest sale was a 5 bedroom, 5 1/2 bath estate in the Pu’upanini neighborhood of beautiful Kahala and closed at $3.725 million. This grand 5,600 square foot home sits on a 23,000 square foot lot, with a fabulous pool and gorgeous casual and formal living areas. Not to our surprise, this was a cash transaction, which we are seeing do much of lately in the luxury market. There were 50 new luxury single family homes added to the market, and the average days on market was 71 days.
There were 7 sales of luxury condominiums in the month of February. The highest sale was a 2 bedroom, 2 bath unit in the popular ocean view building, Hokua that closed at $3.6 million. This 2,000 square foot property features floor to ceiling windows to see the amazing panoramic ocean views from Diamond Head to Ewa. This prestigious building offers luxury amenities including guest suites, state-of-the-art fitness center, infinity edge pool, BBQ cabanas, dog park, concierge and much more. This elegantly upgraded unit also comes with 3 parking stalls, and is the perfect Honolulu living experience! This transaction was also a cash sale. There were 19 new luxury condo listings added to the market in February, and the average days on market was 74 days.
Oahu Luxury Real Estate Statistics- January 2012
03/01/12
We are off to a great start in 2012 in the luxury real estate market on Oahu, especially here at Caron B Realty.
For the month of January, the highest sale was a 5 bedroom, 3 bathroom Niu beach home listed by Caron!
This spacious, 4000 square foot beach front home features an ocean side pool, an open floor plan, high ceilings, and a gourmet kitchen. Paddle, kayak or swim right out the back door. This gorgeous property was a cash transaction and closed at 2.68 million, an amazing price for an oceanfront property in this highly desired neighborhood.
There were a total of 21 luxury single family homes sold last month on Oahu, and 58 new luxury listings were added to the single-family home market. There were a total of 340 luxury single family homes on the market in January. The average days on market for luxury single-family homes was 113 days, and the median sales price was $1.339 million.
The highest sale in January for luxury condominiums on Oahu, was a 2 bedroom, 2 bathroom, 1160 square foot unit in the Waikiki Shore, which closed at $2.5 million. This high floor, direct oceanfront unit has a 348 square foot lanai to enjoy the forever ocean and golden sunset views from Ewa to Diamond Head. This was also a cash transaction.
There were 5 luxury condominiums sold on Oahu in the month of January, and 14 new luxury condos listed. Inventory was low, with only 105 luxury condos on the market. The average days on market for luxury condominiums in January was just 61 days, and the median sales price was higher than single-family homes at $1.89 million.
Overall in the luxury market, we continue to see a large amount of international buyers and cash transactions.
Hawaii Kai Marina Front Living
01/26/12
What could be better than parking your boat right in your front yard on your very own boat dock or cruising to dinner on the water instead of the road?
Welcome to Hawaii Kai. This wonderful marina-front community located on the eastern side of Oahu, is the largest and most exclusive of all in the area. Hawaii Kai residents are a perfect distance from town, just a 15 minute drive, but still far enough away to enjoy some peace and tranquility. They are spoiled by beautiful views and convenient resources that make it such a desirable place to live on Oahu. There are several neighborhoods within Hawaii Kai, that offer many different housing options- everything marina-front condos in the West Marina neighborhood, to oceanfront luxury estates in Portlock.
Hawaii Kai has all kinds of activities- so there is no need to go into town for some fun! There’s the Makapuu Lighthouse, Koko Crater Botanical Garden, Hanauma Bay for snorkeling, and several great hikes with breathtaking views including Koko Head, Mariner’s Ridge or Kuliouou Ridge Trails. Hawaii Kai also has its own golf course and movie theatre! You can cruise to the grocery store on your boat- all of the shopping centers are right on the marina! Hawaii Kai is known for their watersports- so whether you like to stand-up paddle board, jet-ski, waterski, or fish, this waterfront community has it all- not to mention some of the very best booogie-boarding beaches around. Hawaii Kai is a great family community as well- with some of the top-rated public schools in all of Hawaii.
Hawaii Kai is home to many award winning restaurants- including the Original Roy’s Restauarant, serving some of Oahu’s best Island cuisine. There is also Blue Water Grill, and Assaggio’s, both excellent marina-front restaurants. For a more casual setting, and a great happy hour, there’s The Shack Hawaii Kai and Kona Brewing Co, both with boat docks for you to cruise on over in your boat!
One of Hawaii Kai’s waterfront condominium communities is Mawaena Kai. This secure community has great marina and Koko Head views and is pet-friendly! We currently have a great 2 bedroom/2 bathroom listing here, perfect for someone who desires to live right on the marina.
Currently there are 16 waterfront condominiums on the market in Hawaii Kai, 4 of which are in escrow. They range in price from $415,000 for a 1 bedroom, to $849,000 for a 3 bedroom/2 bathroom.
For more information about Hawaii Kai, our listing, or any listing in Hawaii Kai, feel free to call us at 593-9826!
Hokua at 1288 Ala Moana- One of Honolulu’s hottest luxury condominiums
01/20/12
Hokua at 1288 Ala Moana, is one of Honolulu’s hottest buildings. The Hokua condominium is the ultimate in luxury living in Honolulu, situated in a most fabulous location in up-and-coming Kaka’ako, right between Ala Moana and Ward shopping centers. These spacious condo residences boast amenities equal to a world class resort in the heart of Honolulu, and are especially popular with International buyers.
Completed in 2005, the modern clean lined architecture is a tower of steel and glass. The Panoramic, unobstructed views of the ocean all the way to Diamond Head will take your breath away. The units are as large as a single family home, with windows from floor to ceiling, which provide a very open, spacious feel. The steel, glass, wood detailing and travertine flooring give the units a chic, modern atmosphere. The kitchens boast state-of-the art appliances from Sub-zero, Wolf, and Pisher & Paykel. There are separate refrigerator and wine refrigerator, professional grade cook top , oven, and recirculating hoods. The dishwasher is a double drawer from Fisher & Paykel.
All bedrooms have walk-in closets, and the bathrooms are very open, with spa-like showers with travertine floors and fine Kohler fixtures and bleached oak cabinetry.
The amenities are simply luxurious. One of the best amenities is the infinity heated pool overlooking the pacific ocean surrounded by whirlpool spas. This building is pet-friendly with a dog park and five enclosed cabanas for barbecue parties or gatherings equipped with gas ranges. There is also a court for tennis and basketball and a playground for young children. Then there is the state-of-the-art fitness center with a spa and sauna. Finally there is a Business center with meeting rooms.
Hawaiian Island Real Estate Statistics 2011
01/13/12
Aloha, Happy New year Everyone!
Here’s the latest for each of the Hawaiian Islands market activity.
Big Island –
The Big Island had some great sales action last year!
-Sales in 2011 increased across the board compared to 2010.
Single Family Homes: +7.29%
Condominiums +16.12%
Vacant Land: +15.56%
This could be contributed to the overall median home prices dropping 5% from 2010, and condo prices decreasing 19% from 2010. 2011 was a great year to get some great bargains on the Big Island.
-In the luxury market there were 4 home slaes over $10 million. The 2 highest sales, at $16.95 million and $12.25 million were in the Hualalai Resort.
-Between the price range of $5 million to $10 million, there were 18 properties sold and 16 of these were in the Kukio or Hualalai Resorts.
Oahu –
- During December, sales of 268 single-family homes and 333 condominiums were reported through the Board’s MLS, a decrease of 14.1 percent for SF and 6.5 percent for condos compared to the same month 2010. This brings total single family homes sales on Oahu to 2,974 for the year of 2011, a decrease of -2.7% over a year ago. Total condo sales through Dec was 4,029, a 1.3 percent increase from last year.
- Median Prices for single family homes saw a 3.4 increase to $605,000 and a 6.5 percent for condo’s to $285,000 from last year.
- The supply of single family homes dropped an average of -10.1% and -9.2% for condominums below inventory supplies of 2010.
- Multi-million dollar market sales for
Dec 2011 – 34 Properties
January 2010 – 23 Properties
January 2009 – 13 Properties
-The world news was that Tiger Wood’s ex-wife demolished her home in Florida, but here on Oahu, the famous Sony house on the 7th tee of the Waialae Country Club will also be bulldozed after being bought for $13.85 million.
Maui-
–: Residential unit sales rose 10% from 2010 to 2011. The average sold price for 2011 was$787,552 (+5%), median price = $433,500 (-6%) and total dollar volume sold = $707,221,757 (+16%).
- Condo unit sales increased (1%), average sold price = $485,874 (-25%), median price = $310,000 (-18%). Total Condo dollar volume sold = $561,184,549 (-28%).
Sales of Maui Oceanfront and Beachfront homes have reached a new high. During the month of September 2011, three homes traded hands, with sales prices ranging from $3 million to $13.8 million, and all of these were all cash transactions.
The highest sales in 2011 were in Wailea and Makena for $27M and $14M respectively. There were a mix of Canadian and American Buyers for the 15 Oceanfront homes that were sold on Maui as of October 10, 2011.
Kauai –
-Will Smith sells Kauai Estate for $20,000,000
Everyone likes round numbers, but what a sale for Will and Jada Smith! They sold their Kauai Estate of 7.5 acres for $20 million dollars this month. Though the property was not listed at the time, a determined buyer from Europe was able to persuade them with a $6.5 million dollar profit though they have only owned the land for two years. And rumor has it that Julia Roberts purchased the Faye Estate on Hanalei Bay for just under $14 million dollars.
Overall – It is nice to see big money moving back into the market. Despite the media doom and gloom, the economy is recovering and folks are starting to buy. Christmas spending was up over last year and hotel occupancies look good into the new year. 2012 will be a much better year for real estate than 2011
All islands are experiencing more activity. Prices remain flat but inventory low with demand increasing. It’s a great time to sell with buyers back in the market but also a good time to buy with prices not at the levels back in the height of the market.
If you or any of your friends or family need any real estate help here on Oahu or on the other islands, I co-broker with some excellent Maui, Big Island Hawaii and Kauai Brokers. I look forward to seeing you in Hawaii.
Me ke aloha pumehana,
Caron
Caron B Realty International 3555 Harding Avenue, Suite 2A, Honolulu, Hawaii 96816
Call or Text – 808-286-5256 – Direct / 808-593-9826 – Office
Oahu Luxury Real Estate Statistics- December 2011
01/07/12
Hau’oli Makahiki Hou! Happy New Year!
The luxury market finished strong in 2011 with 34 single family homes sold in the month of December. Forty-five new luxury homes were listed in December on Oahu. The highest sale was a sprawling, 8 bedroom estate in the Kai Nani neighborhood, the only home on Waialae Golf Course that is also beachfront. This was also the highest sale of a single family home for the entire year of 2011. There were plenty of luxury single family homes to choose from, with 370 total on the market in December, and homes sold at a moderate pace, averaging 91 days on market.
The highest single family home sold in 2011 was a 5 bedroom, 6.5 bath, beachside Kailua estate, that closed in July for $11 million, and was sold with the adjacent lot for $3 million, grand totaling $14 million.
In the luxury condominium market, there were 7 properties sold in December, with the highest sale being a Gold Coast 3 bed/2.5 bath combined unit, which closed at $4,673,300.00. This property was also the highest sale for luxury condominiums all year! 21 new luxury condos were listed last month, bringing the total listings to 136, giving buyers some great options. Luxury condominiums sold pretty fast, averaging only 45 days on market.
Hot New High-Rise in Kaka’ako!
12/22/11
Waihonua at Kewalo
Where Urban & Island come together
345 Residences- 43 stories
Choose from 3 One-Bedroom floorplans, 7 Two-Bedroom floorplans, or 6 Three-Bedroom floorplans
Pet-Friendly
Secured Entry
Expansive, insulated, low-E glass window system, Energy efficient central water heating and LED lighting in common areas
Right between Hawaiki Tower and Ko’olani in trendy Kaka’ako neighborhood of Honolulu, 1 block from the beach, 1/2 block from Ala Moana Shopping Center
Private movie theatre
Guest Suites for visiting friends and family
Infinity edge pool, spa, lap pool, BBQ, lawn area for yoga
Owner’s storage & surfboard areas
These units are selling fast! Get yours before they are all gone!
Call or text Caron for more details. 808-286-5256
Oahu Luxury Real Estate Statistics- November 2011
12/09/11
In the single family market, the highest sale was an elegant oceanfront Lanikai property, which closed at $6.1 million. This 3 bedroom, 4.5 bathroom residence was built in 2007, and blends Hawaiian architectural design with modern luxury features. Sitting on a large 18,000 square foot lot, this home has stunning views of the Mokulua Islands , lush tropical landscaping, swimming pool, and spa and a separate recreation room.
The second highest sale was a 4,200 square foot, 4 bedroom, 4 bathroom home on the Waialae Golf Course, which closed at $4.65 million.
In the condominium market, the highest sale was a penthouse property in the Hokua building, for $4.55 million. This 3 bedroom, 3.5 bathroom unit with 3 parking stalls, has beautiful sweeping unobstructed Diamond Head and ocean views from every window. All of the bedrooms have en-suite baths, and this penthouse level has its very own designated express elevator. Three units in the Hokua building closed this month, which shows that International buyers just love this popular luxury Kaka’ako building.
Overall in the luxury market last month, there were 75 new single family homes and 23 new Condominium listings. There were 30 single family homes sold, and 11 condos sales, and the average days on market for single family homes was 86 days, and for condos, average days on market was 102. Considering the holiday season, we are seeing solid activity in the luxury market, with a number of sales being all cash transactions.
Happy Holidays!
Tel: (808) 593-9826 Fax: (808) 593-9827 Email: caron@caronb.com