Gracing the southeastern shores of Oahu, the vibrant city of Honolulu is a fast-paced and dynamic regional economic center despite the laid-back resort lifestyle its temperate climate and surf culture fosters. Thanks to its central Pacific location, the city’s high-end real estate market attracts vast numbers of international purchasers. “We have always had strong foreign interest from Japan and Korea, but we are now seeing more from China,” says Cedric Choi of Choi International. “The greatest positive impact on the luxury market has been the travel plans of the Chinese,” he adds, noting that the new 10-year visa program between China and the United States is likely to bolster demand for luxury Honolulu residences from affluent Chinese visitors over the coming years.
|What defines luxury:||$1 million|
|Record sale price in 2014:||$17 million|
|Average luxury square foot sale price:||$690|
|Average days on market for luxury homes:||97|