Hawaii’s luxury real estate market reached new heights in 2025, with the top 10 residential sales achieving significantly higher price points than the previous year. Leading the list was a landmark transaction in Kahala on Oahu — a rare oceanfront compound that sold for $65.75 million, setting a new all-time record for a residential property in Hawaii.
Overall, the highest-priced home sales in 2025 ranged from the Kahala estate at the top of the list to $20.6 million for a three-bedroom residence in the exclusive Kukio Golf & Beach Club on Hawaii Island. By comparison, 2024’s top sales ranged from $16 million to $38.5 million. In total, 2025’s top 10 residential transactions reached $273.8 million in combined volume — approximately $36 million higher than the prior year.
A Shift Toward High-End Off-Water Luxury
Only three of the top 10 sales in 2025 were oceanfront properties. Rather than signaling a drop in demand for waterfront estates, this trend reflects a growing appetite for newly built or extensively updated luxury homes — inventory that is increasingly scarce along Hawaii’s coastline.
This lack of supply is precisely what helped drive the record-breaking Kahala sale to its historic price. When high-quality oceanfront estates do come to market — especially those with modern updates or expansive footprints — they continue to command exceptional premiums.
Inside Hawaii’s Record-Setting Sale
The Kahala estate, created by combining the former Hemmeter estate with an adjacent parcel, offers three separate homes totaling 11,870 square feet on 1.5 acres with 213 feet of ocean frontage. The compound includes:
• A main residence
• An adult children’s home
• A guest home
• An Olympic-sized lap pool
• Private access to Kahala Beach
The March 2025 sale eclipsed the previous statewide record of $46.1 million, set by a Kauai North Shore estate in 2018.
The Top 10 Highest-Priced Home Sales in Hawaii — 2025
1. Kahala, Oahu — $65.75M (March)
Record-breaking oceanfront compound combining two parcels; previously held by the Hemmeter estate.
2. Kailua-Kona, Hawaii Island — $34M (June)
A six-bedroom, five-and-a-half-bath luxury estate on 2.9 acres, located off-water in a premier resort community.
3. Hanalei, Kauai — $32.25M (October)
A beachfront Weke Road residence, the final sale among four North Shore properties formerly owned by Oakley founder James Jannard.
4. Kihei, Maui — $25.5M (June)
An eight-bedroom estate with eight full baths and two half baths, positioned on an exceptional stretch of Maui’s south shore.
5. Kukio, Hawaii Island — $24.7M (August)
Four-bedroom, 4.5-bath residence in the Maniniowali phase of the Kukio Golf & Beach Club.
6. Kukio, Hawaii Island — $24.2M (September)
Another Maniniowali estate featuring six bedrooms and seven bathrooms.
7. Kukio, Hawaii Island — $23.25M (March)
A six-bedroom, seven-and-a-half-bath home offering 7,224 square feet of interior living space.
8. Hualalai Resort, Hawaii Island — $22.1M (October)
A luxury estate with ocean views, a private pool, and five-and-a-half baths.
9. Hualalai Resort, Hawaii Island — $22M (October)
Four-bedroom, five-bath residence on 1.36 acres within one of Hawaii’s most coveted resort communities.
10. Kukio, Hawaii Island — $20.6M (March)
A three-bedroom, 3.5-bath home rounding out the list at the lowest — yet still remarkable — price point.
What These Sales Signal for Hawaii’s Luxury Market
The 2025 results reinforce several key market dynamics:
• Demand for luxury remains strong, particularly among high-net-worth buyers seeking lifestyle-driven properties.
• Modernized and newly constructed estates are commanding premiums, even when they are not oceanfront.
• Ultra-high-end sales volume is rising, with total dollar activity outpacing prior-year levels.
As inventory of updated waterfront homes remains limited, competition for premium properties — especially in resort and estate markets — is likely to continue.