Just Released! Get the 2020 Year-End Hawaiʻi Luxury Market Report Today
Just released by Hawai‘i Life—our newly minted market report is full of fresh insights about our state’s luxury market activity through all four quarters of 2020. Market activity strayed wildly from the familiar pattern of most years, making this end-of-fiscal-year report even more essential to help our readers understand 2020 fluctuations in the luxury market.
The first quarter set the stage for a powerhouse year, and then sales activity slowed in the second quarter as the pandemic spread and travel halted. The latter half of 2020 witnessed unprecedented sales velocity with the fourth quarter alone accounting for 43 percent of all Hawai‘i’s luxury real estate sales – totaling nearly $844 million. Luxury home sales in the fourth quarter increased by 91% compared to the same quarter in 2019, closing out the full year with substantial growth compared to 2019.
Hawai‘i’s luxury property sales increased by 26.25 percent in volume over the previous year as Hawai‘i Life’s luxury market share also grew substantially. As a company, we had our best year on record. The combined dollar value of Hawai‘i Life’s luxury sales transactions—defined as homes and residential land priced above $3 million—more than doubled, and the company’s total sales at all price points soared from $1.6 billion in 2019 to $2.17 billion in 2020.
“This past year has certainly highlighted the incredible value we place on our homes, community and sense of place – both intangibly and in very real numbers,” said Matthew Beall, Hawai‘i Life CEO and Principal Broker. “I’m proud of our team’s ability to quickly adapt to the rapidly changing marketplace and evolving consumer demands.”
Access the Report Now
Our 2020 Hawai‘i Luxury Market Report covers all four quarters of 2020 and delivers a wealth of knowledge. It’s loaded with data, key insights, forecasts, and the most spectacular listings available for purchase across the state. To gain a clear understanding of Hawai‘i’s high-end real estate market, download the Hawai‘i Luxury Market Report today!