Over the past 30+ years, Kahala has been the spot for luxury real estate on Oahu. Much attention has been grabbed by the trophy oceanfront estate that have sold anywhere from $10-30 million. Although not many ocean sales have taken place over the last few years, sales have been moving briskly in Kahala for the first half of this year.
Year to date, there have been 20 home sales in Kahala with an average sales price of $2,166,574. Those sales ranged between $1,100,000 for a fixer upper on Kealaolu Ave. to $4,800,000 for a double lot sale on Aukai Ave. On average, those that sold got 94% of asking price and 2 of them went over asking. Not bad considering the price point and number of buyers out there that can afford a $2 million home.
Since these home sales above weren't on the ocean, what makes Kahala so special? One reason is they are close to the ones on the ocean that fetch many more times in selling prices. Second, is there are several community parks within Kahala, like the one above. Third, Kahala also has one of the nicest indoor (air conditioned) on the island at Kahala Mall. Our office is just right next door.
As I mentioned earlier, there were 20 home sales in Kahala in the past 6 months. As of today, there are only 19 available listings for sale in Kahala, with an additional 2 homes under contract. If nothing new comes on market, this inventory could get sucked up, driving prices higher. Kahala is following a similar trend to the rest of Oahu with low inventory. Feel free to read my article on low inventory why now may be a good time to sell.