Intro to Honolulu Condos Honolulu condos make up about 2/3 of all residential real estate in Honolulu. In fact, condo living has been the primary residential choice in Honolulu since the 1960's. The large tourist industry needed workers and the State government centered here, along with most of Hawaii's finance and business industry, it's no surprise that close to 70% of Hawaii's population lives on Oahu. Adding the land scarcity in Honolulu, a desire to preserve nature and an attempt to create affordability, building vertical makes the most sense.
Honolulu condos for sale run from less than $200,000 for studios in a few older buildings to more than $20,000,000 for a few spectacular grand penthouse residences in ultra-luxury condos Waiea, Park Lane Ala Moana and Ritz-Carlton Waikiki.
2) The Diamond Head region includes the condos along Diamond Head’s famed Gold Coast (built in the 50’s and 60’s). Here 16 incredible condo buildings are hanging on the ocean’s edge at the base of Diamond Head next to Kapiolani Park. Condos this close to the ocean could never be replicated due to modern setback requirements. That makes these older condos incredibly valuable.
3) The Hawaii Kai region - the most eastern part of Honolulu - is home to a mix of high-rise and low-rise condos, some located directly on a beautiful marina in a townhouse setting. Here is a blog post about all marina front condos and townhomes in Hawaii Kai.
Popular Honolulu Condo Neighborhoods Honolulu's condo neighborhoods are different, like any other community, each with their own feel. That can be due to a variety of things like the area it sits in, the surrounding backdrop or the vision of the developer. The following is an overview of 4 popular condo neighborhoods in Honolulu:
Kakaako Kakaako is the fastest growing neighborhood in Honolulu and is conveniently located between the neighborhoods of Ala Moana and Downtown. The ocean and the Ala Moana Beach Park are immidiately to the south.
Ala Moana Ala Moana is a well known name, due to the famous Ala Moana Shopping Center and Ala Moana Beach Park. Until recently, Ala Moana's condos were mainly a few older buildings located along or near Atkinson Drive. Late 2014 that changed with the completion of One Ala Moana - a luxury condo located on the mountain side (Kapiolani Blvd side) of the Ala Moana Shopping Center. In 2017 Park Lane Ala Moana was completed - an ultra-luxury condo project, located on the oceanside of Ala Moana Shopping Center (Ala Moana Blvd). This is arguably the most luxurious condo in Honolulu.
We exclude Leasehold data from this market analysis because Leasehold properties do not compare with regular Fee Simple properties.
We use median instead of the average because it depicts more accurately a central tendency to the sample size. Example: Take 5 numbers - 3, 5, 7, 9, 21. The median is 7 (the middle number) and the average is 9 (sum of all divided by 5).
We count days on market from listing date through closing date.