The luxury real estate market is flourishing on Oahu. From the benchmark 2015 sale of a Kahala home owned by Japanese billionaire Genshiro Kawamoto for $19.5 million to the 55 sales at or above $3 million in 2015, it is evident that luxury properties are highly valued.
There are 23 homes currently on the market on Oahu at $20 million and above. Average days on market for luxury homes is down from 2014 and the average price at which luxury homes have sold increased by almost $1 million in the Kailua area and almost $500,000 in the Kahala area since 2014.
Richard Chamberlain’s estate on Mt. Tantalus, overlooking Honolulu and Diamondhead, and with stunning ocean views, is currently listed for $30 million. The remarkable Kailua beachside oceanfront estate designed by LEED-accredited Gast Architects is listed for $20.138 million. The prevailing expectation is that the luxury market will continue to thrive here on Oahu, due to healthcare-related growth, supply and demand for our unique Hawaiian properties, and the steady global interest in Hawaii.
With Hawaii Life, You’re in Good Hands
Hawai’i Life actively participates in the luxury end of the real estate market and focuses not only on respect for our clients, but also seeks to maintain a relationship with the beautiful land and environment that surrounds us daily.
We support Leadership and Energy in Environmental Design (LEED) projects like Ward Village, which is LEED-certified at the highest level, indicating that energy, air quality, water savings, and other environmental impacts are held to high standards set by the U.S. Green Building Council. Sustainable building techniques and healthy environments are important to maintain and develop, and Hawai’i Life actively works to help our clients to find sustainable-living homes.
Connected to this relationship with the environment, we also recognize our clients’ desires for homes that blend into the surrounding topography, use natural materials, and take environmental and weather information into consideration. Hawai’i Life has access to very large acreage and “off market” properties, which aren’t widely advertised. We know where you live on the island, or the amount of land around your house, or subtle gates can give you the privacy you covet.
Luxury hotel on untouched sandy beach with palms trees and azure ocean in background
Hawai’i Life has the resources available to help you find the home that suits your needs. The rate of second home ownership has grown from 26% in 2012 to 28% today, Honolulu has the highest percentage of foreign real estate investment of any city in the United States, but local buyers account for 70% of real estate sales on Oahu. We understand how to work with mainland, international, and local luxury home buyers.
Interested in Exploring the Luxury Real Estate Market?
If you are interested in exploring the luxury real estate market on Oahu, you will be in good hands with Hawai’i Life. Contact me today! I would love to work with you to build your Hawai’i life.