Just released by Hawai‘i Life—our luxury market report details activity at the highest end of the Hawai‘i market through 2020.
Despite the extraordinary events of last year, Hawai‘i’s luxury property sales increased by 26.25 percent in volume over the previous year, as our company’s luxury market share grew substantially. 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. Total company sales at all price points soared from $1.6 billion in 2019 to $2.17 billion in 2020.
2020 high-end sales on O‘ahu outpaced 2019 in both number of transactions (+8) and total dollar value (+2.3%). O‘ahu recorded 128 sales above $3 million with five sales above $10 million, totaling almost $621.8 million. The highest sale was an $18.7 million oceanfront estate in Kailua. With low inventory in the single-family residential market expected to continue for several more years, Hawai‘i Life anticipates an uptick in the luxury condominium sector with townhomes and detached condominiums leading the way.
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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!