The Honolulu Board of REALTORS® reported encouraging trends in the Oahu housing market for May 2024. This update highlights positive developments for both buyers and sellers.

Increased Affordability: A notable trend is the emergence of more affordable options in both condo and single-family home markets. Condo sales in the $300,000 to $399,999 range saw a significant increase, while single-family home sales below $899,999 also showed positive movement. This is welcome news for first-time homebuyers and those seeking more accessible options.

Expanding Inventory: Market inventory for both single-family homes and condos continued to rise in May. This growth provides buyers with a wider range of properties to consider, potentially leading to a more balanced market in the coming months. Notably, condo inventory has seen a substantial 47.7% year-over-year increase.

Efficient Market for Sellers: Despite rising interest rates, sellers continue to benefit from a relatively quick sales cycle. Single-family homes are going under contract in a median of 14 days, with condos selling in approximately 25 days.

Single-Family Home Resales

	Number of Sales	Median Sales Price
May 2024	249  -5.0%	$1,085,000  -2.2%
May 2023	262	$1,109,000

Condominium Resales

	Number of Sales	Median Sales Price
May 2024	478  +9.1%	$495,000  -2.0%
May 2023	438	$505,000

Source: HiCentral

The May 2024 Oahu housing market exhibits positive signs for both buyers and sellers. The emergence of more affordable options and an expanding inventory offer promising opportunities for buyers, while sellers continue to enjoy a market that facilitates efficient transactions and stable prices when measured against May 2023.

Oahu’s luxury real estate market continues to sizzle, with high-end neighborhoods like Diamond Head and Kahala experiencing a surge in buyer activity. Sachi Hawaii, a leading luxury real estate firm, is proud to announce the successful listing and escrow placement – in just days – of two exceptional properties in these coveted locations.

“We’re witnessing a strong demand for luxury properties in Oahu’s most prestigious neighborhoods,” says C.E.O. Sachi Braden. “Discerning buyers recognize the unparalleled value proposition of these estates, offering not just stunning living spaces but also the allure of living near beaches and and the lifestyle that comes with it.”

Sachi Hawaii recently secured escrow agreements for the following properties:

3994 Kaualio Place – Diamond Head

In escrow after 17 days. Nestled in a quiet portion of Diamond Head, this exquisite residence offers private luxury haven, with expansive living spaces. Listed at $4,500,000

4640 Aukai Avenue – Kahala

In escrow after just 2 days. This captivating property boasts an idyllic Kahala location, nestled in a lushly landscaped setting with superb indoor/outdoor living. Listed at $4,000,000

“These quick escrows are a testament to Sachi Hawaii’s expertise in marketing and selling luxury properties,” says Sachi Braden. “Our in-depth knowledge of the market and unmatched marketing exposure, coupled with our commitment to exceptional service, ensures a seamless and successful experience for our clients.”

Are you looking to buy or sell a luxury property in Hawaii?
Contact Sachi Hawaii today. Our team of experienced agents are dedicated to helping you achieve your real estate goals in paradise.

(808) 596-8801 | info@sachihawaii.com

Internationally-educated and passionate about Hawai’i, Keiko brings a unique perspective to real estate. After a successful career managing multinational firms in Tokyo, she now leverages her global experience and market knowledge to guide clients towards their dream Hawai’i properties.

A dedicated listener, Keiko prioritizes understanding your unique goals, whether you’re a buyer seeking the perfect island haven or a seller aiming to maximize your property’s potential. Her in-depth market expertise ensures strategic property selection to match your lifestyle aspirations.

Beyond local knowledge, Keiko utilizes cutting-edge technology to achieve the broadest possible reach for your property. She crafts targeted campaigns in both English and Japanese, attracting a wider pool of qualified buyers.

Keiko’s blend of international background, real estate expertise, and genuine passion for people makes her an invaluable resource for anyone navigating the Hawai’i property market.

Fueling Creativity: Travel and Tradition Shape Keiko’s Approach

Active and creative, Keiko enjoys playing tennis and golf, channeling her focus and competitive spirit. Her artistic side flourishes with a master’s certificate in Ikebana (Japanese flower arrangement), where she finds a calming balance. Travel is her ultimate source of inspiration. From exploring the bustling markets of Marrakech to encountering penguins in the Falkland Islands, these experiences fuel her creativity and broaden her perspective. This translates into her real estate career, allowing her to connect with clients from diverse backgrounds and understand their unique needs.

Sales Portfolio

Preview a selection of Keiko’s recent sales within the past year, including an ocean lover’s dream in Kaneohe, one of Waikiki’s most sought-after resort destinations, and a new luxury condominium residence in award-winning Ward Village.

46-029 Lilipuna Road:
Sold in just 7 days above asking price, this multi-dwelling 7-bedroom oceanfront home in beautiful Kaneohe offered incredible potential situated on a sprawling 20,668 sq.ft. parcel. Keiko represented the seller.
SOLD $2,410,000

Waikiki Beach Tower #1104:
One of Waikiki’s most coveted destinations, Waikiki Beach Tower offers large living spaces, stunning Pacific Ocean and coastline views, with Waikiki Beach directly across the street. Keiko represented the buyer.
SOLD $1,650,000

‘A’ali’i #3900:
Assisting with the purchase of a new project, Keiko secured her client a high-floor residence in ‘A’ali’i, one of Ward Village’s newest luxury condominium destinations. Keiko represented the buyer.
SOLD $997,803

Unlock Your Hawaii Real Estate Dreams – Call Keiko

Let Keiko’s global perspective and creative approach guide your real estate journey. Her diverse background allows her to understand your unique needs and navigate the market with confidence. Contact Keiko today for a free consultation!

(808) 799-6660 | keiko@sachihawaii.com