As statistics from 2015 show, the high-end real estate market continues to grow across the Hawaiian Islands. The Big Island’s luxury properties have seen considerable growth over the past 5 years.
Luxury Residential Sales (sales price over $3,000,000) volume on the Big Island over the past 5 years
On the Big Island alone, 42 residential listings have sold for over $3M during 2015. Of those sales, 14 sold for prices between $5M to $10M and two sold for over $10M.
The highest sale of 2015 was an expansive residence in Hualalai Resort, listed at $33M, and sold for $25M on August 7, 2015. The second highest sale was a celebrity-owned oceanfront estate at Wai’alea Bay, listed at $24.5M, sold for $20M on November 3, 2015.
The second-highest sale on the Big Island in 2015 | Wai’alea Bay Estate
In addition, 24 vacant land parcels on the Big Island sold for prices greater than $3,000,000 during 2015. The largest land sale of the year was 5,880 acres in Kau, which sold for $10.4M in December.
The luxury high-end market on the Big Island continues to center around private club communities such as Kukio, Hualalai, and Mauna Lani Resorts. New developments, such as Kohanaiki, offer first-class amenities close to the conveniences of Kailua-Kona.
Nani Paniau, currently the highest priced listing on the Big Island at $35M | (MLS# 289121)
Luxury real estate inventory on the Big Island remains steady, promising continued opportunity for growth in 2016. There are currently 57 homes and condos listed above $5M on the Big Island. A magnificent residence in Puako is currently listed for the highest price on the island at $35M.
For more information on luxury listings on the Big Island of Hawaii, contact Carrie Nicholson at Carrie@HL1.com.