Hawaii real estate firm Locations said Monday that the size of single-family homes on Oahu that sold for $1 million over the past five years has shrunk.
A home in 2014 had an average size of 2,549 square feet, compared to 2,381 square feet in 2019 — a decrease of 6.59%.
“We all know the value of a dollar isn’t what it used to be,” said John Connelley, principal broker at Locations, in a press release. “But when it comes to million-dollar homes on Oahu, the size of homes has been shrinking faster in some local markets.”
According to Locations, million-dollar homes have been shrinking the fastest in Hawaii Kai — by 20% over the past five years.
But home size has remained the most stable in Mililani, shrinking by less than 1% between 2014 and 2019.
The largest million-dollar Oahu homes in 2019, by market area, are in Makakilo. The smallest are on the North Shore.
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