Hawaii Luxury Market Still Remains Strong & Attractive To Investors
Oahu Real Estate - LIVE from Hawaii
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Hawaii's luxury market continues to remain strong, due in part by investors and those seeking a second home in a resort destination. Just recently the second highest recorded sale in the Kailua area closed for $11 million. The property, known as The Castle Estate features 314 linear feet of sandy beach frontage, three dwellings on 2 acres of land. The sale marks the largest sale island-wide within the past six months. The property was purchased by a local developer, Don Eovino and an undisclosed partner. According to a recent article featured in the Star Bulletin, the pair plan to subdivide the property into three parcels and replace some of the existing structures with new luxury single-family homes.
Other notable high priced sales include a Blackpoint property that sold for $11.1 million in January and two Diamond Head properties that sold for $7.55 million and $6.9 million respectively in May.
At the time of this writing, there are currently 53 properties island-wide that are priced $5 million and above - two of which are currently under contract and in escrow.
If you would like a complete list of Oahu luxury properties, please call me at 808-227-6133 or feel free to drop me a note at jmellor@realestateofoahu.com
Until next time...All the best!
June Mellor - Your Source for Oahu Real Estate
http://www.realestateofoahu.com
