Corcoran Pacific Records 2021 as Best Year

Corcoran Pacific Properties, the locally owned and operated franchise of The Corcoran Group, announced record sales of $1.78 billion from their 12 office locations statewide, marking a 12% increase from 2020.

Chuck Garrett, principal broker says, “We are very grateful to the clients who entrusted us with their real estate needs in 2021, and to our amazing agents who carefully treated every transaction as if it were their own.”

“The increase in median home prices on each major island, coupled with the historic low interest rates encouraged sales from all categories last year — single family and condominium, as well as a number of luxury sales above $2M — most noteworthy, a Lanikai oceanfront home that we represented which sold for $24.38 million in July, the highest price for an Oahu home in more than 15 years.”

Garrett went on to say, “The Hawaii luxury market is gradually stabilizing and expectations for 2022 suggest a return to typical seasonal trends. With the high return of visitors and the possibility of the Asia market reopening, we expect more properties to be offered in the luxury sector this spring. Hawaii offers the perfect fit for the changing priorities of affluent buyers, who moved away from only purchasing vacation properties, in exchange for both primary and second or third home residences.”

“While interest rates are on the rise, they are still historically low, encouraging the continuation of strong sales activity. We foresee continued economic growth this year and welcome the opportunity to serve our clients’ residential, commercial and property management needs, both locally and beyond Hawaii, thanks in part to local diversification and the rapid growth of the Corcoran network, Realogy’s fastest-growing brand,” says Garrett.

For a detailed sales report on each Hawaiian Island, visit bit.ly/hawaii-lux.

For information on Corcoran Pacific Properties, visit corcoranpacific.com.

Chuck Garrett

Corcoran Pacific Properties is locally owned and operated as a franchisee of The Corcoran Group, a leading residential real estate brokerage firm headquartered in New York. Throughout its entire network, Corcoran is home to more than 150 offices and 5,500 independent salespersons in key urban, suburban, and resort markets nationwide. Visit corcoranpacific.com for more information.