Top 10 Most Expensive Home Sales on O‘ahu in 2017
Spoiler alert: Almost all were condos.
This beautiful Diamond Head home sold for $11,500,000.
Photo: Courtesy of Sachi Hawai‘i
In 2017, condos were king, with luxury condominium projects setting record prices and creating a whole new market trend on our island in the middle of the sea. Park Lane was the game-changer—six of this year’s 10 highest residential real estate sales happened there (yes, that’s the condo at the mall). Waiea followed with two on this year’s list. Only two single-family homes cracked the Top 10, which is based on HiCentral Multiple Listing Service records and does not include private transactions.
Times have changed, and you can see it when diving into the numbers. The average price per square foot of the condos on the list was $3,016; it was only $2,278 for single-family homes. Luxury buyers are looking to condominiums for security, convenience and amenities.
What did the most expensive residences of the year all have in common? Ocean views, open floorplans, stunning finishes and world-class amenities. Read on for a peek into each of these special properties. Here they are, starting with the 10th most expensive residence sold in 2017:
10. Park Lane #7800, $8,914,000
The lobby at Park Lane.
Photos: Courtesy of Park Lane
The new owners of this three-bedroom, three-bathroom condominium at Park Lane not only get to enjoy views of Ala Moana Beach Park and the ocean beyond, they’ll also be part of the Park Lane lifestyle. While we’ve come to expect a spectacular pool, gym and spalike amenities at high-end condos, Park Lane also includes concierge services, entertaining areas and a resort feeling unlike anything else on O‘ahu. The new owner has a Hong Kong address.
9. Park Lane #5504, $10,406,000
This four-bedroom, four-and-a-half-bathroom home at Park Lane sold to a buyer with a Singapore address. With 4,169 square feet of living space designed to feel like a custom home, the unit is likely similar to the model shown, with finishes curated by Philpotts—Hawai‘i’s long-trusted expert in luxury design—that tell the story of a place and capture the feeling of Hawai‘i’s environment and lifestyle.
8. Park Lane #6505, $10,743,000
This four-bedroom, four-and-a-half-bathroom home sold to a Hawai‘i-based LLC with a Japanese name. The residence has 4,287 square feet of living space, making it feel like a custom home, not a condominium. The 217-unit Park Lane project boasts more than 100 different floorplans, ensuring that every space feels unique and special to its owners.
7. Park Lane #3502, $10,836,000
Another four-bedroom, four-and-a-half-bathroom residence at Park Lane, this one was sold to a now-resident and is a bit larger, at 4,319 square feet. The third floor is the main level of the building, reached through a private drive from Pi‘ikoi Street. No elevators are required to enter the residence, making it feel even more like a single-family home—but one with plenty of bonus amenities.
6. 3603 Diamond Head Road, $11,500,000
Video: Courtesy of Sachi Hawai‘i
To understand just how fabulous the views from this Spanish villa-inspired property on the slopes of Diamond Head are, check out the video above. The home has four bedrooms, four bathrooms, is more than 4,800 square feet in size and was built in 2001. Its new owner (with a Nevada address) now has access to beautiful surf almost every single day off Diamond Head, and gorgeous sunrises, too.
5. Waiea #3200, $13,750,000
PHOTO: COURTESY OF THE HOWARD HUGHES CORPORATION
One of two condos at Waiea, the first tower by developer Howard Hughes Corp. to make the list, Unit 3200 boasts stunning views and high-end finishes like those seen in this model unit. Waiea’s dramatic entryway is unlike anything else we’ve seen on Oʻahu, with dark finishes, meandering water and unique art, making the experience luxurious from the moment you step out of your car. Owners of Unit 3200, who show a California home address, can spread out over four bedrooms, four-and-a-half bathrooms and 4,151 square feet of beautifully designed living space.
4. 1611 Mokulua Drive, $13,800,000
PHOTO: COURTESY OF TRACY ALLEN
In May, we covered this gorgeous Lanikai retreat, located at 1611 Mokulua Drive. With five bedrooms and six-and-a-half baths, the 6,296-square-foot home sits on 114,432 square feet of land. Brand new in 2014, it was the highest single-family home sale of the year. The new owners appear to be based in Beverly Hills, but we’d imagine they’ll be spending a lot of time here.
3. Waiea #3000, $14,279,000
PHOTO: COURTESY OF THE HOWARD HUGHES CORPORATION
With four bedrooms and four-and-a-half baths spaced out over a spacious 6,776 square feet of living, this condominium is larger than many O‘ahu lots. These units are known for stunning touches like onyx walls in the bathrooms that create the perfect backdrop for a free-standing tub, built-in espresso machines and walk-in closets that could double as a nursery. This unit was sold to a family with a local address.
2. Park Lane #6800, $18,800,000
At 5,743 square feet, this five-bedroom, five-and-a-half-bathroom home is larger than the most expensive residence sold this year. We’re not sure we’d call that a deal, but the owners get the same amenities and an extra bedroom for family and guests to enjoy, as well as a private elevator for Park Lane residents directly to Ala Moana.
1. Park Lane #3800, $22,000,000
The biggest sale of the year was Park Lane’s Grand Penthouse. The buyer, who lists a Japan address, enjoys stunning views from Diamond Head to ‘Ewa, and can choose to entertain on their outdoor lānai looking either direction. The open floorplan and floor-to-ceiling glass make for a breathtaking entry experience. The 5,668-square-foot residence has four bedrooms and four-and-a-half bathrooms. Ala Moana Boulevard below is barely noticeable as you look out over the green trees of Ala Moana Beach Park to the ocean beyond.
We spoke to the year’s big success story—developers Patrick Kobayashi and Ian MacNaughton of Park Lane—and asked for their thoughts on elevating condo sales to a whole new level in Honolulu.
“Our goal was to bring the best parts of a Hawaiʻi home together with the amenities and security of the best condominiums in the world,” says Kobayashi.
MacNaughton attributed the success to providing a place where owners can truly have it all. “Essentially, Park Lane is a resort home situated next to the best shopping experience at Ala Moana Center, overlooking treetops and the Pacific Ocean,” MacNaughton says. “Our owners can have it all—a gracious ‘custom’ home, indoor-outdoor resort living, privacy, security, services, views, an extensive private art collection and elevator access to Ala Moana Center.”
What can we expect for next year? Gateway, the next luxury condominium project by Howard Hughes Corp., is next in line, and work is already underway with the demolition of Ward Warehouse. Expect the condo sales, both in this luxury market and elsewhere, to continue to be strong as people look to simplify their lives. There will be some resale of high-end condominiums as prospectors who bet on the market look to make a profit, and we’ll also see luxury homes and small projects come to market in the usual places, including Kāhala, Kailua and Lanikai.