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Thursday, January 5, 2012

A year in review: The top five most expensive condo sales

Since Honolulu has comparable density to other major metropolitan cities, I thought I’d do a separate list of the most expensive condos sold in 2011. Although the highest of the high sold for a fraction of the price of the most expensive single family home, these luxury condos are still more costly than a free-standing estate.

Want to see what the top five condo sales of the year were? Read on:

Diamond Head Apts Ltd. - 2969 Kalakaua Ave., Unit 303 and 304
List price: $5,300,000
Sold price: $ 4,673,300
Like yesterday’s top seller, the most expensive condo sold doesn’t have a photo. There aren’t even remarks in the MLS. All we know is, it’s already occupied by a tenant, with three bedrooms, 2.5 bathrooms, and 3,095 square feet to live in. It was only on the market for two days, so the listing in the MLS was probably just a formality.

Hokua – Units 34B and 34C
List price: $5,288,000
Sold price: $4,550,000
I can only surmise that whoever bought the most expensive condo wanted it for the neighborhood or sentimental value, because for about $100,000 less, they could have gotten a newer, larger space in Hokua with ocean views. This unit is 3,372 square feet and has three bedrooms and 3.5 bathrooms—the result of combining two units into one gigantic space that’s larger than most of the penthouses. In addition to various upgrades, this comes with five parking stalls and a large storage room.

Hokua – Unit 36K
List price: $4,750,000
Sold Price: $4,550,000
If you’re going to spend this kind of money, you might as well get a million dollar view. The Diamond Head and ocean panoramas from this unit are unobstructed and can be seen from every window. This condo is larger than most homes, comprising three bedroom suites, 3.5 bathrooms, and 2,612 square feet of living area with a designated express elevator, three parking stalls and a storage room. The kitchen has a large walk in pantry, the master bedroom has his and hers walk in closets. I guess it’s a trade off with the previous property; you get a little less, but it’s a higher floor. Worth it? You decide.

Trump Tower Waikiki – Unit 3410
List price: $ 4,899,900
Sold price: $4,500,000
In the big scheme of things, multi-million dollar units in the Trump Waikiki are common, so this sales price probably didn’t raise any eyebrows … from the neighbors, anyway. They all come fully furnished and include upscale appliances, granite counters, bath amenities, linens, and access to the building’s fitness center and spa. You also get concierge service and valet parking. For Waikiki, it’s huge: 2,197 square feet of living area with three bedrooms and 3.5 baths. The Donald would approve.

Tahitienne Inc. – 2999 Kalakaua Ave., Penthouse
List price: $3,900,000
Sold price: $4,025,000
Either this is a super hot property, or the buyer really wanted it. It was only on the market for six days, and was sold for $100,000 over asking. Built in 1957 but remodeled extensively in 2008 by the iD Group, this is a rare luxury penthouse on the Gold Coast with more than 60 feet of direct ocean frontage—definitely living the dream. It’s spacious, too, with 3,445 square feet of living area, three bedrooms, 3.5 bathrooms, four-zone air conditioning, and two parking stalls. I guess with this luxury and location, there’s no reason to leave your estate in the sky.

Again, this list doesn’t mean that your Island dream is out of reach. There are affordable condos, too, if you watch the market. These are the five least expensive condo sales of 20011; three are in Waikiki and two are in Makiki. Of course, all are leasehold, but at these prices, who cares?

  • 1700 Makiki St., Unit 218, $20,000
  • 1700 Makiki St., Unit 108, $17,500
  • 1867 Kaioo Dr., Unit 109, $16,900
  • 2462 Kuhio Ave., Unit 407, $16,750
  • 423 Kanekapolei St., Unit 8, $11,000

Happy shopping in 2012!

Posted on Thursday, January 5, 2012 in Permalink

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About This Page

Honolulu Real Estate focuses on the Hawaii housing market, condos and homes for sale, Hawaii rentals and general news about real estate in Hawaii. It also includes stories on apartment living, home decor and profiles.
 


Melissa Chang graduated from the University of Hawaii with a degree in journalism and has been blogging since 2007, mostly on food and travel. She works primarily in social media, so you can find her online @Melissa808 on Twitter and Instagram.


 


Jaymes Song is a real estate agent at Prudential Advantage Realty in Kahala. Jaymes is in the top 7 percent of Prudential agents nationwide. Previously, Jaymes was at The Orange County Register, Honolulu Star-Bulletin and rose through the ranks to overseeing news and operations for AP in Hawaii and the Pacific Rim. Jaymes lives in the Portlock area and loves his real full-time job of being dad to two curious kids.


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