Luxury Home Magazine

Title and Escrow is our business. Hawaii is our home. Visit TGHawaii.com S E R V I N G H AWA I I S I N C E 1 8 9 6 P R E S E N T E D B Y T I T L E G U A R A N T Y SPOTL IGHT ON HAWAII’S LUXURY MARKET MIKE B. PIETSCH CHIEF OPERATING OFFICER TITLE GUARANTY “With over 120 years of experience in Hawaii, Title Guaranty’s Title and Escrow Officers understand the intricacies of the unique luxury home market. With Officers at 17 branches throughout the state, TG provides a smooth experience for buyers and sellers locally, domestically, and abroad.” H awaii has consistently remained one of the nation’s top performing luxury markets. Since 2010, local residents have made the lion’s share of luxury property purchases $3 million and higher, following the buyer trend seen among properties in the overall market. Though they have declined slightly in recent years, foreign buyers represent 15% of all luxury sales made statewide, and are a valuable demographic with considerable buying power. owever, ultimately it is Hawaii residents that account for 53% of the total luxury purchases in the islands. Cash is King... Hawaii Luxury Property Unit Sales 2010 - YTD 2016 Kauai Oahu Maui Hawaii $3M - $5.99M U.S. Foreign $3M - $5.99M $6M + $6M + Hawaii Luxury Units Sales 34 % Cash Buyers Statewide 74 % Luxury property sales comprise over 34% of the total unit sales for the state, 74% of which are cash purchases. Further breakdown by island reveals that cash is truly king: 80% of luxury properties are cash purchases on Hawaii Island, 85% on Kauai, 75% on Maui, and 69% on Oahu. 8 5 2 1 1 1 2 1 133 40 21 16 8 33 10 6 2 8 0 34 68 102 136 170 0 34 68 102 136 170 State (#) Foreign (#) 82 11 6 3 5 8 2 2 3 345 58 4 2 6 51 20 4 5 1 0 30 60 90 320 400 0 80 160 240 320 400 State (#) Foreign (#) 2 23 12 5 4 1 15 6 1 3 0 10 20 30 40 50 0 10 20 30 40 50 CANADA CALIFORNIA HAWAII TEXAS COLORADO NEW YORK State (#) Foreign (#) 46 4 3 2 2 7 81 33 24 17 10 16 14 4 5 7 0 30 60 90 120 0 30 60 90 120 State (#) Foreign (#) The majority of luxury property transactions occurred on Oahu, where local residents made nearly seven times as many purchases compared to buyers from any other state or country. The sheer volume of sales made on Oahu directly correlates to the statewide luxury market figures, and reflects that Hawaii buyers are the single largest demographic purchasing luxury property. However, categorizing these sales into the $3 to $5.99 million and $6 million and higher price ranges reveals that Hawaii buyers remain key until examining buyer demographics by island. California buyers made three times as many purchases of luxury property than any other domestic or foreign buyer in Hawaii Island, and two times as many purchases in Kauai and Maui.