Luxury Properties are on the Move! Who is Buying Them?

The return of the economy has spurned on the luxury market.

In 2009 there have been 36 properties sold for $2,000,000 or more. These properties were located in various areas of the island from the beaches of Lanikai, Kailua, and the North Shore to the hillsides of Maunawili, Tantalus, and Hawaii Loa Ridge. Who are the buyers for these luxury properties?

3,200+ sq. ft. 4 bed/3 bath home in the Kahala area ($2,750,000) was purchased by a retired gentleman from Beverly Hills who also purchased a 3,900+ sq. ft. 3 bed/3 bath in the Kahala area ($2,600,000) because he liked the setting better.

5,500+ sq. ft. 5 bed/4.5 bath home in the Tantalus area ($2,990,000) was purchased by a gentleman from the East Coast who does a lot of business in Japan and Hawaii was the perfect “stop over” destination for a 2nd home. What he liked about the home was the space and the views and felt it was the best value.

2,800+ sq. ft. 3 bed/2 bath home in the Niu Beach area ($2,650,000) was purchased by siblings from different areas as a vacation home as they liked the oceanfront location as well as the privacy and thought the property was the best value at the time.

5,200+ sq. ft. 6 bed/6.5 bath home in Black Point ($3,625,000) was purchased by a local couple who had always wanted a home developed by Tom Nicholson.

6,900+ sq. ft. 5 bed/6.5 bath home in the Aina Haina area ($5,500,000) was purchased by an Asian Corporation.

4,700+ sq. ft. 6 bed/6 bath in the Beachside area ($7,100,000) was purchased by a developer from the mainland who bought as a second home. The same developer also bought a home in Diamond Head which he is restoring.

2,700+ sq. ft. 6 bed/4 bath in Lanikai ($3,500,000) was purchased by a retired writer from Los Angeles.

4,200+ sq. ft. 6 bed/4.5 bath home in Diamond Head was purchased by a commercial developer from the mainland who is fixing up the home to use as a vacation home.

2,900 (approx.) sq. ft. 3 bed/3 bath home in Koko Kai ($2,100,000) was purchased by a local family who wanted a single level home with a view in Hawaii Kai.

4,300+ sq. ft. 4 bed/4.5 bath home in Black Point ($5,200,000) was purchased by an off-shore investor.

If you are looking to put your luxury home on the market and need to know who to target to get your luxury property sold, call me today… 808-286-5845
- Mandy Berner, RA