Oahu’s housing market kicked off 2024 with a positive note, seeing year-over-year increases in both single-family home and condo sales. However, the ever-present challenge of low inventory continues to keep prices elevated.

While sales volume increased for both property types compared to January 2023, the pace remained relatively flat month-to-month. Median prices also held steady, with single-family homes and condominiums both experiencing a slight year-over-year bump. Notably, homes are taking a bit longer to sell compared to last year, with both single-family and condos averaging 29 days on the market, compared to 24 days in 2023.

Single-Family Home Resales

	Number of Sales	Median Sales Price
January 2024	184  +22.7%	$1,021,016  +5.3%
January 2023	150	$970,000

Condominium Resales

	Number of Sales	Median Sales Price
January 2024	292  +6.2%	$502,500  +1.5%
January 2023	275	$495,000

Source: HiCentral

Despite the increase in new listings, inventory levels remain significantly lower than pre-pandemic levels. This keeps upward pressure on prices, although the impact varies by segment. Notably, sales volume for single-family homes surged in the higher-priced categories, while condos saw the most activity in the more affordable range.

Interestingly, contract signings declined in some price ranges, particularly for single-family homes in the $800,000-$999,999 and $1,200,000+ brackets. Additionally, condo sales closing above asking price dropped year-over-year, while the percentage for single-family homes remained consistent.

Opportunities exist for both buyers and sellers in todays market. In real estate, timing is often everything. If you’re looking to buy or sell, it’s important to work with a Realtor who can help you identify trends, and maximize the financial efficiency of your purchase or sale.

If you’re looking for an extra set of eyes to help you navigate today’s market, Sachi Hawaii has agents experienced in a broad range of markets and price ranges.
Contact Sachi Hawaii today:
(808) 596-8801 | info@sachihawaii.com

Honolulu’s iconic skyline is undergoing a metamorphosis, and at the forefront of this transformation lies Ward Village. This vibrant district, nestled beside Ala Moana Beach Park and bustling Ala Moana Center, is experiencing a surge in Hawaii luxury condo development unlike any seen before in the state. While Waikiki remains a cherished destination for visitors, Ward Village is captivating both residents and investors with its alluring blend of beachfront access, sophisticated urban living, and a wave of innovative new developments promising unparalleled luxury living.

Kaka’ako: From Industrial Hub to Urban Oasis

Once dominated by warehouses, Kaka’ako is blossoming into a dynamic urban center buzzing with creative energy. Here, luxury condos redefine island living, offering breathtaking ocean views and near-instant access to Ala Moana Beach Park, a haven for exercisers, beachgoers, and sunbathers.

Rising Stars in Kaka’ako

Ward Village has a host of luxury condominiums with units available for purchase.

The Launiu

Nestled within Kaka’ako, Launiu is Ward Village’s latest luxury condominium announced by Howard Hughes Corp. Soaring 40 stories above Honolulu’s vibrant cityscape, Launiu offers a collection of studio, one-, two-, and three-bedroom residences, each promising breathtaking ocean views and a taste of the best Hawaii has to offer. Residents can enjoy an array of amenities, including a sleek lobby, a club-style lounge, multiple private cabanas, wrapped in a true resort experience.

Kalae

Soar 38 stories above Honolulu’s vibrant pulse at Kalae, where iconic one-, two-, and three-bedroom residences redefine island living. Expansive lanais reveal breathtaking ocean vistas and Diamond Head’s grandeur, while stylish interiors crafted by renowned designers echo Hawaii’s rich heritage. Immerse yourself in a world of curated amenities, including a private pool, club-style lounge, and lush indoor-outdoor gathering spaces. Kalae seamlessly blends serenity with the allure of Ward Village’s diverse shops and restaurants, placing the best of Honolulu at your doorstep.

The Park Ward Village

Nestled beside Victoria Ward Park, The Park Ward Village redefines effortless island living. Imagine 41 stories of light-filled studio, one-, two-, and three-bedroom residences boasting ocean vistas and serene mid-century design. Indulge in resort-style amenities, rejuvenating spa treatments, and expansive green spaces. Minutes from Ala Moana Beach and Ward Village’s vibrant scene, find harmony where nature, luxury, and convenience effortlessly blend.

Victoria Place

Ascending 36 stories above Honolulu’s legacy, Victoria Place offers a sanctuary of timeless Hawaiian elegance within each studio, one-, two-, and three-bedroom residence. Lush gardens whisper the spirit of Victoria Ward, while expansive lanais unveil mesmerizing ocean vistas. Immerse yourself in club-inspired amenities, gather under the open sky, and forge memories in spaces designed for connection. Here, gracious island living meets modern luxury, weaving a legacy for generations to come.

Ulana Ward Village

Under the HCDA’s Reserved Housing program, Ulana Ward Village offers opportunities for eligible residents to own a piece of Honolulu’s vibrant Ward Village at below-market rates. Soaring 41 stories above the city, spacious studios, one-, two-, and three-bedroom residences boast breathtaking ocean views and modern island-inspired interiors. Residents can enjoy an array of amenities, including a sleek lobby, resident manager, and security, along with convenient retail options nearby.

Investing in Your Slice of Paradise

Honolulu’s luxury condo boom presents a unique opportunity for investors and residents alike. With proximity to world-class beaches, vibrant cultural offerings, and a thriving culinary scene, these condos offer an unparalleled lifestyle investment. Whether seeking a permanent residence or a vacation getaway, Honolulu’s luxury condo scene has something for everyone.

So, dive into Honolulu’s luxury condo boom and discover your own slice of paradise. With innovation, convenience, and unparalleled luxury setting the stage, these neighborhoods are poised to become the future of Honolulu living.

Ready to get started?
Contact Sachi Hawaii for more details or to schedule a visit to Ward Village:
(808) 596-8801 | info@sachihawaii.com

A new condominium is joining Downtown Honolulu’s growing number of residential properties. Modea is being developed by Avalon Group, a local company with a 25-year history of building in Hawaii. Modea is Hawaii’s first adaptive reuse project, transforming a former office building into a modern residential condominium.

The building is currently under construction and is expected to be completed in 2025. Prices for studio units start in the $400,000’s.

• The building is being designed by WATG, a world-renowned architecture firm.
• The units will have high ceilings, signature metalwork and glass, Italian designer kitchens, and expansive views.
• The building will be LEED-certified, meaning that it will be energy-efficient and environmentally friendly.
• Retail and commercial space will be on the ground level.

Modea Residences:

The building will have 22 stories and 352 units, comprising studios, 1-bedroom, 2-bedroom, and 3-bedroom units. Residents will enjoy a variety of amenities, including a club room, outdoor BBQ cabanas, a coworking space, a fitness center, and a dog run.

► View Modea Residences and Floor Plans

Convenient Downtown Location:

Modea is located in the heart of Downtown Honolulu, close to the Hawaii State Capitol, Daniel K. Inouye International Airport, and Waikiki Beach. This convenient location makes it an ideal place to for those looking for the “Work, Play, Live” lifestyle in urban Honolulu.

The sales gallery is open at the Modea project site, located at 841 Bishop Street. Sales reservations are expected to begin soon. It’s important to register interest with your real estate agent early to secure your desired floor plan.

Interested in learning more about Modea? Contact Sachi Hawaii for more info:
(808) 596-8801 | info@sachihawaii.com