HONOLULU (Island News) – Sales of luxury properties on Oahu rose by 15% in October compared to last year, even as median prices fell, according to Coldwell Banker Realty.
A total of 45 luxury homes were sold last month, up from 39 in October 2024. However, the median sale price decreased to $2.525 million from last year’s $2.95 million. The data, sourced from Multiple Listing Service, covers single-family homes and condominiums sold for $2 million and above, excluding new developments.
Patti Nakagawa, Global Luxury director for Coldwell Banker Realty, highlighted that lower rates have boosted confidence among mid-luxury buyers who rely on financing, while cash buyers continue to dominate the ultra-luxury tier. “Demand remains strongest for turnkey properties,” said Nakagawa…