Hawaii Market Update: Sales Jump, Prices Inch Up on Oahu
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It’s that time of year again, time for the annual Hawaii roundup. For those planning for a permanent or part-time Hawaiian getaway, the past year hasn’t been too bad in the 50th state. Before you read further, pack up your tablet and head to Agu Ramen in Mockingbird Station for the full Hawaiian effect. Just opened the day before Thanksgiving, Agu’s based in Hawaii and was slathered in foodie awards before branching out to Houston and now Dallas (I have no idea why Texas was their first stop). Having checked it out before heading back to Hawaii, I can say the Dallas branch is as good as the original.
Anyway, it’s been an interesting year in Oahu real estate. The big news is in the condo market (the landing place for many second home owners. Several new high-rises have come online and their listings have flooded the market with high-priced units. As of this writing, there are 28 condos listed above $5 million. All but three of them are in new buildings. Like Dallas, all the new high-rises are high-priced. But when any ocean front/view condo hits above $1,000 per square foot, some of the new crop are hitting $3,000 per foot.
