A newly built hillside home in Lanikai just closed for $10.4 million, marking the neighborhood's biggest sale in three years. The four-bedroom, 4,497-square-foot property at 380 Lama Place in Kailua was finished in 2023 and sits off the water, a sign that buyers are increasingly willing to pay trophy prices for turnkey, modern homes that are not directly on the beachfront loop.
Off-water trophy pulls in top dollar
According to Pacific Business News, the 380 Lama Place sale at $10.4 million is being logged as Lanikai's largest recorded deal in three years. Public listing records on the MLS show the property originally hit the market as high as $13.8 million earlier in 2025, before a series of reductions brought it to a November closing price of $10.4 million. Marketing materials credit Carvill Sotheby's for the listing photos and promotion.
Property specs and who bought it
Public real estate sites list the house as a 4-bed, 4.5-bath residence spanning 4,497 square feet with high-end finishes throughout. Redfin shows the sale was recorded on Nov. 20, 2025, identifies the buyer as Trinity Properties LLC, and names Scott Carvill of Carvill Sotheby's Intl. Realty as the listing agent. Homes.com reports the deal penciled out to roughly $2,313 per square foot.
What the deal says about Lanikai luxury
Industry data show that Lanikai's headline prices have typically come from oceanfront parcels, yet recent sales suggest more competition for mauka and hillside properties. Historical roundups of high-end deals note that oceanfront Lanikai homes have reached well into the tens of millions, which makes this $10.4 million off-water transaction stand out at the submarket level, per luxury-market reporting. Brokers say limited inventory and picky buyers are fueling occasional price whiplash at the very top of the market.
Price cuts, thin supply and a picky buyer pool
MLS price history indicates the 380 Lama Place listing went through several reductions over the past year before landing a buyer, a pattern that shows up even with custom, trophy builds. Public MLS records reflect a drop from $13.8 million to $10.8 million before the final close. Local agents say that with such thin supply, sellers will often test ambitious price points, then step them down until they find the small pool of buyers willing to write seven-figure and higher checks.
Oceanfront estates still grab the biggest headline numbers, but this hillside sale in Lanikai will be one to watch as agents track whether more off-water listings can consistently clear the $10 million mark. For now, the closing at 380 Lama Place underscores that buyers are prepared to pay top dollar for modern, private homes with island views even when they are not planted directly on the sand.
