Ultra-Luxury Report
The Luxury Division at Compass recently published its report for 2022. This annual Ultra-Luxury Report highlights properties selling for $10M+. Whether you’re actively searching for your dream home or just want to enjoy dreaming, it’s worth browsing through the report. (If nothing else, you can take a peek at some truly stunning properties.)
Ready to discover the pinnacle of luxury real estate? Here’s what Compass had to say about luxury living in Hawaii.
Orient Yourself With Compass
Since launching in 2012, Compass has modernized the real estate business. The platform functions like a traditional broker, but its technology reduces the headaches associated with buying and selling houses.
I’m a Compass real estate agent, so yes I’m a bit biased. But I believe the Compass model gives us (the agents) more time to advise you (the clients).
Compass has indeed created a national network of local experts. In fact, Compass is the country’s largest independent real estate brokerage, with 300+ offices stationed in 67 markets.
But let’s focus on those high-end homes.
Hawaii joined 20 other states in the 2022 Ultra Luxury Report. The majority of these states line the east and west coasts. But there are a few notable outliers: Colorado, Idaho, Illinois, Texas, and Wyoming. And, of course, the best of the bunch: Hawaii.
Compass has eight offices across the state of Hawaii. On the Big Island, you can find Compass in Kailua-Kona and Kamuela.
Findings From the Report
In 2022, Compass reported 64 $10M+ sales across the archipelago. That totals a $1B sales volume.
The report also highlighted something I could have told you myself: Kona-Kohala is the place to be.
Luxury resort residential properties along this coast experienced significant popularity. In 2022, buyer demand for high-end properties in this area exceeded availability. This frenzy only contributes to the air of exclusivity surrounding these multi-million dollar properties.
Most of these luxury home sales closed above asking price after receiving multiple offers.
Compass expects this fervor to continue into the first half of 2023. There’s no way around it: Hawaii’s market remains competitive. So it is especially important to partner with a real estate agent when you’re shopping for your dream home.
High-net-worth clients came primarily from the mainland’s West Coast.
Spotlight on the Big Island
Like many places in the state of Hawaii, the Big Island combines sublime natural beauty and exclusive luxury living. Mainlanders have finally caught wise to the fact that it serves as an indulgent remote-working location, offering a laid-back lifestyle the minute you close your laptop.
Tom Loratta and Tony L. Pinkert summed up everything I love about the place that I call home: “Hawaii Island (aka the Big Island) provides a peaceful sanctuary with abundant natural beauty, free from the stress of mainland living – the perfect gathering place to connect with family and friends.” The report also highlighted Hawaii’s conservation-zoned lands, outdoor recreation opportunities, and clean air.
At the end of the day, Hawaii is a place that transcends numbers or even the most enthusiastic descriptions. You really have to experience this lifestyle for yourself.
So give me a call when you’re ready to upgrade your living situation to the ultimate level of laidback luxury.
Aloha, and welcome to Hawaii.