LuxuryHomes.com – Living Luxury Homes Living
Related Articles
O’ahu luxury home sales started the year on a softer note with 28 sales, a marked dropped from the past several months. Last month’s sales volume is not necessarily predictive of the year.
Luxury Home Overview
January 2023 and 2024 also had low sales volume relative to the rest of the year. Median price decreased by over 4%, however, price per square foot rose over 12% from last month. Luxury homes aren’t commanding the prices that realtors and/or home sellers anticipated. For example, the top selling home had been taken off the market and relisted. It sold after a total of 423 days for only 79% of the asking price.
This is seen throughout January’s sales, with only 21.4% of homes receiving at least full asking price, the smallest percentage seen in a while. Luxury homes took nearly two weeks longer to sell on average, another indication that pricing needed to be adjusted. They received a much lower percentage of their asking price and a smaller proportion of them sold at or above asking price. About the same portion of homes sold had price reductions in January as in December. Available inventory dropped in most price ranges. Pending sales the $1.8-$2.9M and $3-$5.9M ranges rose notably, so we can expect to see an increase in sales in February or March when they close.
Luxury Condo Overview
Luxury condo sales volume showed a similar pattern to that of luxury homes. January sales saw a sharp decrease from December but lower January sales a typical, historically. However, there was little change in active or pending sales. Median price decreased over 10% from December and price per square foot dropped 7.6%. As with luxury homes, there was a misalignment in asking price and what buyers offered. Zero percent of luxury condos received their asking price; the average was 94.5%.
It’s notable that price reductions fell sharply, from 41.4% to 27.2%. This is not because homes were priced more accurately, but because many agents held firm on list prices while buyers simply refused to meet them. The market adjusted not through markdowns, but through lower offers. On a positive note, luxury condos sold a week faster than in December. All five of the luxury condos that sold under 100 days had price reductions, indicating that strategically assessing the market and buyer sentiment leads to quicker sales.
See the full Oahu Luxury Real Estate report by Caron B Realty here.
View more Luxury Real Estate Market Reports on LH Living.
This Market Report has been provided by
Caron B Davis, Caron B Realty International
LuxuryHomes.com Affiliate
Sources:
Oahu Luxury Real Estate Update: January 2026 – CaronBRealty.com
