O'ahu Luxury Market Report

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Cover Property: 1118 Ala Moana Blvd., #3001 at Waiea in Ward Village | Listed by: Etsuko Morita Fields (RS-67144) and Yoko Yanes (RS-83757)

Strong Growth in Q2 2025

Kahala saw a dramatic increase in sales, more than doubling last quarter’s activity. Among these, three oceanfront properties stand out. One of the most notable was in the gated Black Point neighborhood, which sold for $6.6 million. This historic home, built in 1929, sits on a half-acre lot with 200 feet of prime ocean frontage. Additionally, two single-level estates on Kahala Beach sold this quarter: a 1.2-acre estate with six bedrooms for $15.375 million, and a 0.75 acre estate that went for asking at $18.5 million. Both properties are near the Kahala Hotel and Waialae Country Club, further adding to their appeal. As we move into the second half of 2025, these trends suggest that O'ahu’s luxury market will continue to see strong demand, particularly for large and coastal properties in Kailua and Kahala. The Berkshire Hathaway HomeServices Hawai’i Luxury Collection defines luxury as properties valued over $1,500,000 or more for condominiums and over $3,000,000 or more for single-family homes. The data in this report reflects a study of the sales activity in the luxury market as we define it. We adjust these price parameters when looking at West O’ahu areas: Ko Olina Condominiums and single family homes and Waianae Oceanfront single-family homes because we find they are significant to a comprehensive analysis of O’ahu’s luxury market as a whole.

O'ahu’s luxury real estate market continues to thrive in Quarter 2 of 2025, with growth in both the condo and single-family categories. Sales island-wide showed impressive increases compared to Q2 of last year: single family homes increased 16%, from 31 to 36 sales, while condos experienced a 21% increase, from 42 to 51. Half of all luxury condo sales this quarter were priced under $2 million. While most of these were 1 to 3-bedroom units, there were a couple of exceptions—most notably, 4 bedroom townhomes in Koko Isle, a private island community within Hawaii Kai's marina, and Coconut Plantation, a gated enclave encircled by the Ko Olina Golf Club. The only other 4-bedroom condo sale this quarter was in Victoria Place, a newly developed tower in Kaka'ako . It was a standout sale. The expansive 3,700 sq ft residence spans the entire south side of the building, offering 180-degree Diamond Head, ocean, sunrise, and sunset views. It sold for $8.25 million—24% below its original list price. In the single-family market, 75% of sales fell between $3 million and $5 million. A noteworthy transaction took place in Kailua Estates , a neighborhood known for large lots and proximity to the world-renowned Kailua Beach. This 4-bedroom home 0.3-acres went into escrow in just five days, ultimately selling for $4.32 million—11% over asking. This quick sale highlights the area's strong demand and solidifies it as a seller’s market. Key Trends and Notable Sales

For this report, we have only studied the sales defined as Luxury: >$3 million for Single-Family homes and >$1.5 million for Condominiums. The median sales price you find in this report is the median of only the sales defined as Luxury. It does not represent all of the sales. Sales not defined as Luxury have been excluded. Luxury areas studied in this report are determined by the fact that the area has a high number of properties deemed “Luxury” based on the above definition, or are of interest for Resort or Oceanfront lifestyle. Data is calculated as of December 31 of each year except for 2025 which is through June 30. Berkshire Hathaway HomeServices Hawaii Realty 3 Q2 2025 O’ahu Luxury Real Estate Market Report