Lavish $725,000 Hawaii Condo Is Listed for Just $1 in Unbelievable ‘Flash Sale’—So What’s the Catch?

Homebuying is often a very pricey business, particularly if you’re looking at properties in an enviable or exotic location—but one Hawaiian condo listing is flipping that script and offering up a 99% discount as part of a “flash sale” that has seen the abode priced at just $1.

That’s right, the two-bedroom, two-bathroom dwelling on the island of Honolulu—which was originally listed for $775,000—is now available for a buck. At least in theory.

Unsurprisingly, the Dollar Store-style price has raised many questions among interested parties, many of whom are clamoring to know: Is this deal too good to be true?

On paper—and in images—the property appears to be in pristine condition.

Built in 1979, the condo has been fully renovated and comes with two parking spaces. The “sleek and functional” design includes split AC, recessed lighting, updated kitchen, and newly done baths.

Located in the town of Kaneohe, the apartment offers views of the Koolau mountains from the spacious lanai.

Community residents have access to a recreation area, which includes barbecue grills, tennis courts, and a pool, the listing notes.

So far, so perfect.

Though the property seems wonderful, it’s had trouble attracting a buyer. The updated unit has been on and off the market since last year. It last changed hands in August 2024 for $570,000, according to Realtor.com® records.

The condo came back on the market in October 2024, listed at $775,000. By December, the price had been reduced to $730,000. In mid-January, it was relisted for $725,000. On Jan. 27, it was priced at a shocking $1.

That ultralow price tag may work on one level: Grabbing attention.

In drawing interest to the listing, the agent could well spark a bidding war that may start at $1 and then quickly climb to a sum that is closer to the original list price.

But the strategy is risky.

“I have not seen the $1 flash sale before as a selling tool, but I have seen properties aggressively priced below market value to create hype and stir interest,” says Cara Ameer, a licensed real estate agent in California. 

Ameer notes that the seller “likely has no interest in selling the property for $1 or anywhere close to it,” adding that the agent could well bump up the price to a more suitable sum should the “flash sale” tactic fail to secure a buyer willing to pay a reasonable amount for the home.

Deal or no deal?

So what is the catch?

First off, if you want to grab this deal, you do have to act fast.

The “flash sale” offer, as it’s described in the listing, is available until Feb. 3. And you might want to offer for more than just a dollar. The listing notes that “best and final offers” are due by 8 p.m. HST.

This means the final price of the property, while possibly under its discounted $725,000 ask, will probably be way more than just one smackeroo.

The listing agent, Brian Terayama with Real Broker, posted the killer deal on Instagram and received nearly 600 likes and comments that expressed amazement and disbelief.

The agent’s post also lists some caveats. Terayama notes that the “seller reserves the right to accept offers as they are received. If no offer is accepted by 2/5/2025 8:00PM HST, the ‘Flash Sale’ is over and the list price will be updated accordingly.”

One commenter pointed out on Instagram, “That’s a good way to get people to put in an offer.”

Terayama replied, “That’s the goal!”

Another commenter joked, “Best I can do is $20 and a poke bowl.”

High monthly costs

The condo does come with some fees, such as monthly maintenance costs.

One commenter asked about the cost of the maintenance fees, to which Terayama replied that “maintenance is $1,393/month which includes a $361/m assessment for insurance until the end of 2025.”

One noted the high monthly costs, posting, “$1,400 in Maintenance is Crazy.”

So, even in theory, if the apartment unit sells for $1, the monthly costs will set the buyer back a good deal more.

Ameer notes that there may be a reason that the condo is having trouble selling at list price.

“Buyers are likely staying away because of the HOA fees,” she says. Depending on the community’s “covenants and restrictions,” owners may not be able to offer it as a short-term rental.