The Oʻahu residential real estate market concluded the month with modest increases in median sales prices across both single-family homes and condominiums, according to the latest report from the Honolulu Board of Realtors. These price gains were accompanied by a noticeable increase in the time properties spent on the market.

“The October market statistics for Oʻahu confirm the enduring strength of our median sales prices, particularly in the single-family home sector where the median climbed over five percent. However, a significant takeaway for both buyers and sellers is the lengthening median days on market,” said Sachi Braden, President and Principal Broker of Sachi Hawaii. “Buyers are exercising more deliberate due diligence, especially with a 19.6% jump in condo inventory providing more options. For sellers, this highlights the critical need for strategic pricing and optimal presentation to stand out in a market where buyers now feel less compelled to move quickly.”

Single-Family Home Resales

Condominium Resales

Sales volume for single-family homes remained flat year-over-year, recording 261 transactions. Despite the stable volume, the median sales price saw an upward trend, rising by 5.7% to $1,162,500.

A key development in this sector was the increase in market duration. The median days on market for single-family homes extended to 26 days, which is 10 days longer than the same period last year. Active inventory also rose by 4.6%, closing the month with 775 active listings.

The condo and townhome market experienced slight gains in both sales and price. Sales volume increased by 9.4%, and the median condo price ticked up 1.9% to $535,000.

Similar to single-family homes, condos and townhomes spent more time on the market, with the median days rising to 44 days, an 18-day increase from the previous year. Inventory saw a significant climb, up 19.6% year-over-year, ending the month with 2,341 active condo listings.

Although average mortgage rates generally trended lower throughout the reporting period, buyer activity showed only minor shifts. Contract signings indicated slight movement, with pending sales rising 4.0% in the single-family home market (260 pending sales) and 1.3% in the condo market (323 pending sales).

New Sachi Hawaii Listing — A prestigious new offering has arrived on the Honolulu real estate market, presenting a rare opportunity to acquire a turnkey residence in one of Hawaii’s most coveted ultra-luxury communities. Park Lane #8604, a sprawling three-bedroom plus den residence, is now available for $11,500,000.

Positioned directly fronting Ala Moana Beach Park, this 2,996-square-foot “Island Residence” distinguishes itself with a prime front-corner location that maximizes privacy and panoramic vistas. The home offers an immersive visual experience, where floor-to-ceiling glass walls frame sweeping views of the Pacific Ocean, the verdant park, and the dynamic city skyline—scenery visible from the living room, kitchen, dining area, and primary suite.

“Park Lane stands as Honolulu’s premier ultra-luxury boutique condominium, and residence #8604 exemplifies the very best of this lifestyle,” says Sachi Braden of Sachi Hawaii. “With elevated interior design and curated furnishings, this home seamlessly integrates expansive indoor and outdoor spaces, making it a true turnkey masterpiece.”

The residence is designed to celebrate the island lifestyle, featuring a spacious 307-square-foot covered lanai equipped with a built-in barbecue station, ideal for year-round outdoor entertaining. The interior layout includes a dedicated den and three and a half baths, anchored by a sanctuary-like primary suite. This retreat features dual walk-in closets and a spa-inspired ensuite bathroom complete with a double vanity, walk-in shower, and deep soaking tub.

Park Lane #8604 Floor Plan

Residents of Park Lane enjoy access to a collection of world-class, resort-style amenities that rival five-star hotels. These include the iconic Great Lawn, a 75-foot lap pool with a hot tub and rain shower, a state-of-the-art fitness gym and yoga studio, and private landscaped barbecue cabanas. The property also facilitates hosting with guest suites available for visiting family and friends.

Located at 1388 Ala Moana Boulevard, the development sits at the nexus of the Ala Moana and Kaka‘ako districts, offering immediate access to premier shopping, dining, nearby beaches, parks, and the arts.

About Sachi Hawaii

Sachi Hawaii is a leading luxury real estate firm in Honolulu, specializing in high-end residential properties and providing exceptional service to discerning buyers and sellers in Hawaii and abroad. Sachi Braden and the Sachi Hawaii team have helped buyers and sellers with multiple Park Lane sales, and handle multiple properties in the development for long-term, vacation rental, and vacant home care.

For more information, contact Sachi Hawaii:
(808) 596-8801 | info@sachihawaii.com

The Kobayashi Group has introduced its latest luxury, high-rise project, officially named 1588 Ala Moana. This future development has often been the talk of the luxury Hawaii real estate world, referred to as “Park Lane 2.” This ambitious mixed-use development is planned for a more than four-acre section of the Ala Moana Shopping Center’s parking lot, specifically at the prominent intersection of Atkinson and Ala Moana.

The project is designed to feature two distinct towers:

In addition to the residential and hotel components, 1588 Ala Moana is slated to include 26,000 square feet of commercial space. Given its proximity to the Ala Moana Shopping Center and the Hawaii Convention Center, developers have indicated the project will work to support these two key visitor destinations and beautify the immediate surroundings, acting as a gateway to the area.

Entitlement and Community Process

The project is currently in the entitlement phase, a lengthy process that requires approvals from multiple city levels, including the City Council and the Department of Planning and Permitting. This comprehensive review process is anticipated to take up to a year.

During the initial presentation to the Ala Moana-Kakaako Neighborhood Board, concerns were raised regarding the development’s impact. Key issues highlighted included potential effects on parking, pedestrian crossing safety at the busy intersection, and the broader concern of ensuring current residents are not displaced by new, expensive developments. Local board representatives have emphasized the community’s recognized need for more housing.

Following its introduction to the Neighborhood Board, the project is scheduled for discussion at the City Council’s Zoning and Planning Committee hearing on Thursday, November 20. Stakeholders are encouraged to participate in the public process as the project moves through its various stages of review.

Register Your Interest in 1588 Ala Moana

For many, this is the project they’ve been waiting for. Park Lane has been one of Honolulu’s most successful ultra-luxury developments, and many have been waiting for the follow-up.

If you are interested in 1588 Ala Moana, register with Sachi Hawaii so that we may keep you informed as soon as new information is released:

Contact Sachi Hawaii:
(808) 596-8801 | info@sachihawaii.com