Corcoran PacificHawaii Real EstateHomes for saleLuxury Market ReportLuxury Residential Market September 21, 2023

Cautious Optimism about Hawaii’s Luxury Real Estate Market

According to Corcoran Pacific Properties’ most recent luxury market report, which was published in July and looks at the first half of the year, “The start of the year saw a market in flux, continuing from the last quarter of 2022, which saw sellers and buyers hesitating in their real estate decisions given geo-political concerns, rising inflation, interest rates and overall uncertainty about the economy.”

Although unit sales were lower than the comparative months in 2022, both single-family and attached home markets have, for the most part, “remained either favorable to the sellers or balanced,” the report noted.

Gregg Antonsen, senior vice president of luxury marketing for Corcoran Pacific Properties, remains “cautiously optimistic, with an emphasis on optimistic,” in his outlook for Hawaii’s luxury real estate market as market trends transition to a “new normal.”

By Stephanie Salmons – Reporter, Pacific Business News