Highest Sale Ever in Makaha!
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We are excited to have achieved the record-breaking price of $3,125,000.
​​​​​​​Per MLS.
IN ESCROW!
1065 KOKO KAI PLACE
HONOLULU, HI 96825 | $2,290,000
Exquisite executive home located in the highly desirable Koko Villas neighborhood in Hawaii Kai. This home boasts an AWARD WINNING kitchen with an expansive marble island, glass cabinets for display, amazing Thermador Masterpiece appliances and more!
SOLD! | $3,080,000
1821 KUMAKANI PLACE
HONOLULU, HI 96821
Styled by Lisa & Malia
Architecturally dramatic home w/ iconic views of Diamond Head and the ocean. Living and dining area look out the sweeping arches onto the expansive lanai & large pool with ocean view beyond. The primary bedroom suite is amazing with a separate sitting area, lanai, & walk in closet.
SOLD! | Over Asking | $1,415,000
​​​​​​​92-742 WELO STREET
KAPOLEI, HI 96707
Styled by Lisa & Malia
Located in the perfect spot to take advantage of the ocean views and breezes, this luxury, highly upgraded home is smart and energy efficient. The gorgeous expansive kitchen boasts Cambria quartz counters, extra cabinet storage to the 9' ceiling and more!
SOLD! | $1,060,000
600 ALA MOANA BLVD #2108
HONOLULU, HI 96813
Styled by Lisa & Malia
Views, Location, and Luxury Upgrades, everything you can ask for. Enjoy amazing ocean, sunset, rainbow, and exciting ever changing harbor views from Every Room and covered lanai of this 2 bedroom, 2 bath, 2 parking home.
"It was with an abundance of good luck that I chose Lisa Haeringer and Malia Kakos of Coldwell Banker to market and sell my home.
The house was beautiful but of an unusual size, disposition and location and I knew that it could only appeal to a limited number of prospective buyers.
At the time, I was traumatized, mourning the death of my partner, having to prepare the house for sale and without any experience in selling properties.
These two ladies took over. They supported me and educated me through the entire process, and I am forever in their debt.
They work really well together and are both very experienced in all aspects of their Real Estate business. I wholeheartedly endorse them for any property that you wish to buy or sell."
Jeanne Thomas
Year-over-year sales changed modestly from April 2021, with single-family home sales falling 2.7% and condo sales rising 4.2%. Single-family homes and condos marked a double-digit increase in the median sales price, with single-family homes recording a median of $1,105,000 in April, a 19.1% jump from the previous year, and the condo market reached $510,000, a 13.3% bump year-over-year.
Single-family homes in the $1,000,000 to $1,399,999 range saw the largest increase in sales volume, up 46%, while homes in the $700,000 to $999,999 price range made up approximately one-third of April’s sales, despite seeing a 26% drop year-over-year. The Ewa Plain accounted for the bulk of sales in both price ranges.
In the condo market, sales in the $700,000 to 999,999 range doubled from a year ago, up 101.6%. Condos sold in the $1,000,000 to $1,999,999 range saw the next highest gain, up 54.8%. The Metro region accounted for 60% of sales in April and the largest increase in volume, up 16.5% year-over-year. The Waipahu and Ewa Plain regions saw the most significant decline in sales, down 46.7% and 20.0%, respectively.
Both single-family home and condo markets saw pending sales fall in April. Compared to a year ago, contract signings were down 18.7% for single-family homes and 8.8% for condos. In the single-family home market, the decline in pending sales was most concentrated in Diamond Head and Kaneohe, dropping 49.1% and 53.2%, respectively. Similarly, in the condo market, the largest declines occurred in Kaneohe and Diamond Head, down 60% and 48%, respectively.
New listings for single-family homes dropped slightly, down 7.6% year-over-year, while the condo market saw a slight increase in new listings, up 2.3%. New listings for single-family homes fell short of last April, with the most significant declines occurring in the Diamond Head region, Pearl City, and Hawai‘i Kai. In the condo market, new listing volume in the $300,000 to $399,999 price range saw the sharpest decline, down 33.8%, but there was a significant increase in listings priced at $700,000 and above, accounting for 28.5% of the month’s new listings; and volume up 64.8%.
The market continued at a similar pace to a year ago. Single-family homes that sold in April were on the market for a median of 10 days compared to nine last year, while condos sat for a median of 12 days compared to 13 last April.
- In today's 1031 Exchange market, Delaware Statutory Trusts (DSTs) may offer an intriguing option for investors who are looking for properties to complete their 1031 Exchanges. Read more here.
- How to Avoid Homebuyer's Remorse Read more here.
We listed and sold the property featured in the article below from Pacific Business News. Using our keen sense of style, working directly with the photographer, and using our refined negotiation style, we obtained a record sales price in Makaha.
- Oahu luxury sales climb 20% in April Pacific Business News
May 27, 2022
COLDWELL BANKER REALTY AND 360 PRODUCTIONS
This eight-bedroom, five-full and four-half bath, 8,334-square-foot home at 84-1450 Maunaolu Street recently sold for $3.125 million.
The number of luxury homes sold on Oahu in April increased 20% compared to the same month in 2021, according to a new luxury market report from Coldwell Banker Realty.
According to the report — figures for which are based on MLS data of single-family homes and condominiums sold for $2 million and higher in April 2021 and 2022 — 59 luxury homes were sold last month compared to 49 in April 2021. The median sale price for luxury homes was $2.8 million, 3% higher than last year.
Additionally, the report noted the number of single-family homes that sold above that price point climbed 19% over last year, 50 sales compared to 42, while the sales of luxury condominiums grew 29% — nine compared to seven.
Single-family home sales were up in all price ranges, with the $3 million to $3.99 range noting the highest increase — up 71% April-over-April, or 12 sales compared to seven.
According to the report, single-family homes that sold for just more than $2 million last month were originally priced below that threshold, but pushed higher by multiple offers, while the sale prices of properties priced at $2.5 million and higher tended to sell at or slightly below the listing price.
Additionally, the report noted that $3 million is now the benchmark price for luxury homes in communities such as Kahala, Diamond Head, Lanikai, Kailua Beachside, Hawaii Loa Ridge, Waialae Iki, Portlock and the North Shore.
“April is historically a peak month for sales into escrow, but the number of sales continue to be suppressed by the lack of available inventory to meet the high level of demand," Patti Nakagawa, Global Luxury director for Coldwell Banker Realty said in a statement. "As a result, the number of pending sales is decelerating and for the first time since November 2020, the total number of sales in escrow fell 15% below the previous year, 82 compared to last April’s 96."
Of the 59 sales that closed in April, 33 luxury properties on Oahu sold for $2 million to $2.99 million; 16 sold for $3 million to $3.99 million; and 10 sold for more than $4 million.
The Diamond Head neighborhood saw the most luxury sales (seven), while Kakaako and Kawailoa-North Shore had four sales each.
A two-bedroom, six full- and one-half bathroom single-family home that sold for $12.8 million was the most expensive MLS-recorded home sale on Oahu in April.
A separate statewide luxury market report from Corcoran Pacific Properties noted that, "Taking a comprehensive approach, the overall impression of Hawaii's luxury real estate market is one of stability and consistency since the start of 2022 and in comparison to April 2021.
"This is not to say that inventory levels have increased to where supply outweighs demand or that demand has decreased because, in comparison to statistical data prior to the pandemic, the differences still show that 2022 is an extremely strong seller's market," it notes.
And while many of the buyers over the last two years have been from the Mainland, the Corcoran Pacific Properties report notes that as normalcy in global travel returns, so has international interest.
"It is yet to be determined if the return of the international buyer will drive more sales and decrease inventory still further, but it is certainly anticipated that any decrease in demand from Mainland buyers will quickly see a foreign buyer step in," the report reads.
The Corcoran report also broke down sales and inventory in April by island and price range.
On Kauai, 19 single-family homes above the luxury benchmark of $1.2 million sold last month, ranging in price from $1.2 million to $6 million-plus. Meanwhile, 16 attached homes sold, ranging from the luxury benchmark price of $950,000 to $5 million-plus.
On Oahu, 64 single-family homes sold, ranging from the luxury benchmark price of $1.75 million to $9.5 million-plus. There were 153 attached homes sold, ranging in price from the $750,000 luxury price point to $7 million-plus.
Maui saw 38 single-family home sales, with prices ranging from the luxury benchmark of $1.5 million to $12 million-plus, while 55 attached homes sold last month, ranging from the luxury benchmark of $1.2 million to $4.5 million-plus.
And on Hawaii Island, there were 40 single-family luxury homes sold in April, ranging in price from the $1.1 million luxury threshold to $9 million-plus. Additionally, there were 35 attached homes sold on the Hawaii Island, which ranged in price from the $950,000 luxury benchmark to $4.5 million-plus.
