“This sale shows that the Japanese are still interested in high-end luxury purchases.”
— Paul Stukin, Deep Blue HI
Originally featured in Pacific Business News
A penthouse at The Ritz-Carlton Residences, Waikīkī Beach has sold for $14.5 million, marking Hawai‘i’s highest condominium sale of 2025, according to Pacific Business News. The sale also represents the most expensive condo transaction on O‘ahu since 2023, underscoring renewed strength at the top end of the luxury market.
The three-bedroom, four-and-a-half-bath residence—known as Penthouse E—offers approximately 4,157 square feet of interior living space, along with expansive views of Diamond Head, Waikīkī, and the coastline. A private rooftop terrace features a plunge pool, hot tub, and panoramic city-to-ocean vistas. The unit sold fully furnished with interiors by Jon Brent Design.
Originally developed in 2018, the Ritz-Carlton Residences’ second tower penthouses were initially marketed as unfinished shells before the developer shifted strategy to deliver fully built residences. Penthouse E was listed with Deep Blue HI in December 2024, represented by the firm’s founder and CEO Paul Stukin, before closing at full asking price on December 26. The buyer was Japanese, acquiring the residence for personal use as well as for family, friends, and colleagues.
Stukin said the sale “shows that the Japanese are still interested in high-end luxury purchases,” adding that “the branded residence is really the strongest attraction at The Ritz,” citing the familiarity of the brand and its service standards, particularly among international buyers.