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The Kohala Coast is a majestic area located on the west coast of the Big Island of Hawaii. The Big Island received its name as to not confuse it between the State of Hawaii and the Island of Hawaii. Kohala is made up of two regions, North Kohala and South Kohala, with North Kohala covering the more rural, northern end of the island, including the small towns of Hawi and Kapa’au, as well as the Kohala Ranch communities farther south.
South Kohala covers the world class resorts of Mauna Kea Resort, Mauna Lani Resort and Waikoloa Beach Resort, the small town of Waikoloa Village, located 6 miles inland from the resorts and Waimea, the beautiful town in the interior Waimea Valley. You can find market updates for many of these areas by visiting the Market Update Page on my website.
View all homes for sale on the Kohala Coast. Instantly find out the value of your Kohala Coast Home. Discover how you can save $1000’s with my Vacation Rental Management Program.
The number of single-family homes sold in October 2018 on the Kohala Coast decreased substantially from last October, with 24 homes selling in October 2018, down from 31 homes last year. That decrease was felt in both South Kohala, with 19 single-family homes selling, down from 25, and North Kohala, with 5 homes selling, down from 6 homes. The condo market also experienced a decrease, dropping from 26 units sold in October 2017 to 17 units this October.
Although there was a decrease in sales volume in October 2018, the overall year-to-date sales volume on the Kohala Coast is up in all market segments in 2018, with 292 single-family homes being sold this year, up considerably from the 266 homes sold this time last year. The number of single-family homes in North Kohala increased slightly from 53 homes sold by this time last year to 56 homes this year, and South Kohala saw even bigger gains, with the number of single-family homes rising from 213 homes last year to 236 homes sold this year. The number of condos sold year-to-date also enjoyed a healthy increase, up 22 units to 260 units sold this year from 238 units sold in 2017.
The change in median price this October over last year was, however a mixed bag. The median sale price in North Kohala experienced a spectacular increase, rising from $835,000 in October 2017 to $1,169,000 in October of this year. This type of wild change in median sales price is quite common in a low sales volume environment such as North Kohala. The South Kohala median sales price in October 2018 however, saw a slight decrease, dropping to $580,000 this year from $608,000 in October 2017. The condo market median sales price enjoyed the largest gains, rising from $381,000 in October 2017 to $508,000 this year.
Even with the mixed bag of numbers in October’s median sales price, all market segments experienced an increase in their year-to-date numbers. Single-family homes in North Kohala had the largest increase in their year-to-date median sales price, increasing a dramatic 26.92% from $650,000 in 2017 to $825,000 this year, while the single-family homes in South Kohala had a more modest increase of 5.31%, going from $565,000 in 2017 to $595,000 this year. The condo market also experienced a modest increase in its year-to-date median sales price, rising 8.19% from $482,000 in 2017 to $522,000 this year.
Analysis: The Kohala Coast real estate market continues to move upwards at a steady pace in all categories. With the brisk, steady sales throughout 2018, the excess inventory we had a few years ago is long gone, with us now firmly in a balanced market. Other than the wild fluctuations experienced in North Kohala, the median sales price on the Kohala Coast has experienced a steady 5% to 6% annual appreciation. If you are thinking of buying or selling a home on the Kohala Coast, contact me today. I will produce a customized market report for the neighborhood or area you are interested in buying or selling in. Mahalo.
October 2018 Market Highlights
If you enjoyed this update, you may like Mauna Kea Resort Update for Q3 2018.
Waikoloa Village is a community located 6 miles inland from the west coast of the Big Island of Hawaii. This lovely community covers over 19 square miles and is a mixture of condominiums and single-family homes. Waikoloa Village offers its residents wonderful amenities such as an 18-hole golf course, a community swimming pool and tennis courts.
Also within Waikoloa Village is the Waikoloa Highlands Shopping Center, which contains many shops and restaurants, including the Waikoloa Village Market, Island Lava Java and Pueo’s Osteria Italian restaurant. With its proximity to the world famous resorts and world class beaches, Waikoloa Village makes for an affordable alternative for the savvy buyer looking for their Hawaiian Dream Home.
View all homes for sale in Waikoloa Village. Instantly find out the value of your Waikoloa Village Home. Discover how my Vacation Rental Mgt Program can save you $1,000’s.
At the time of this writing (Oct 10th), there were 20 single-family homes for sale with 3 in escrow, and 13 condos for sale with 8 in escrow, in Waikoloa Village. Of the homes for sale, the highest priced one is located at 68-1891 Kawika Place, and is priced at $899,000, while the highest priced condo on the market is listed at $729,000 and is located at The Pointe at Waikoloa, Unit 12. At the other end of the spectrum, the lowest priced home on the market is located at 68-3630 Lahilahi St and is listed at the low price of $399,000. While the lowest priced condo currently on the market is listed at $189,000 and is Unit E205 in Fairway Terrace.
When it comes to sales in the 3rd Quarter, the number of single-family homes sold was a quite a bit higher than the number of condos sold. In the time from July 2018 through September 2018 there were 36 single-family homes sold in Waikoloa Village, while 22 condos were sold. Of the homes sold, the highest priced one is located at 68-3907 Kaulele Pl and sold for $699,000, from a list price of $699,900, while the highest priced condo sold for $385,000 from a list price of $399,000 and is # A303 at Waikoloa Fairways. The lowest priced single-family home to sell during the 3rd Quarter in Waikoloa Village is located at 68-3519 Iwikuamoo Dr and had a sale price of $285,000, from a list price of the same amount. In the condo market, the one with the lowest sale price went for $160,000 from a list price of the same amount, and it is located in, once again, in the Fairway Terrace, Unit E104.
Analysis: The sales volume of single-family homes and condos in Waikoloa Village has remained fairly constant throughout 2018. Although the amount of inventory is substantially lower than it was in 2017, and we are now in a Sellers’ Market, the amount of inventory seems to be levelling off at these new lower levels. Whether that remains the same, or we enter into an even lower inventory market as we enter the winter selling season, remains to be seen.
If you are looking to buy or sell a home in Waikoloa Village, or anywhere on the Kohala Coast, contact me today. I will help you make your Hawaiian Real Estate dreams a reality. Mahalo
Highlights of the 2018 Q3 Waikoloa Village Update
If you enjoyed this update, you may like Mauna Kea Resort Real Estate Update for Q3 2018.
The Kohala Coast is located on the west coast of the Big Island of Hawaii. They call it The Big Island to avoid the confusion between the State of Hawaii and the Island of Hawaii. Kohala is split into two areas, North Kohala and South Kohala, with North Kohala covering the more rural northern end of the island. containing the historic small towns of Hawi , Kapa’au, and the Kohala Ranch communities.
South Kohala covers the major, world class resorts of Mauna Kea Resort, Mauna Lani Resort and Waikoloa Beach Resort, the small town of Waikoloa Village, located 6 miles inland from the resorts and Waimea, the beautiful town in the interior Waimea Valley. You can find market updates for many of these areas by visiting the Market Update Page on my website.
View all Homes for Sale on the Kohala Coast. Instantly find out what your Kohala Coast home is worth. Discover how you can save $1000’s with my Vacation Rental Management Program.
The number of single-family homes sold on the Kohala Coast in September 2018 decreased ever so slightly from September 2017, with 20 homes selling in September 2018 down from 22 homes last September. That decrease only happened in North Kohala (from 5 homes down to 3), with South Kohala’s volume remaining unchanged (17 homes sold in both years). The condo market also had a fractional decrease, down from 27 units sold in September 2017 to 21 units this September.
The decrease in monthly sales volume in all the market segments in September did not affect the year-to-date volume in Kohala, with 268 homes being sold this year, up from 235 homes last year. This increase happened in both North and South Kohala, with the number of single-family homes in North Kohala increasing slightly from 47 homes sold by this time in 2017, to 51 homes this year. South Kohala, however, experienced a healthy increase with the number of single-family homes rising from 188 homes last year to 217 homes sold this year. As with their monthly number, the condo year-to-date volume also improved, rising to 242 units this year from 212 units sold in 2017.
Except for North Kohala, the change in the September median sales price was up across the board. The median sale price in North Kohala, experienced the only decrease in median sales price, dropping from $530,000 in September 2017 to $490,000 in September of this year. The South Kohala median sales price in September 2018 saw a modest increase, from $575,000 in September 2017 to $615,000 this year. The condo market median sales price was somewhat less dramatic, increasing from $465,000 in September 2017 to $477,000 this year.
The year-to-date median sales price continued its an upward trend in all market segments. Single-family homes in North Kohala experienced the largest increase, rising a dramatic 24.53% from $640,000 in 2017 to $797,000 this year. While in South Kohala, single-family homes had a modest increase of 6.12%, rising from $560,000 in 2017 to $595,000 this year. The condo market had a similar increase, rising 6.75% from $489,000 in 2017 to $522,000 this year
Analysis: Although September’s sales volume was down over last year, the year-to-date numbers continue their upward climb. Combined with the modest increase in median sales price, the Kohala Coast market is in a healthy place right now, for both Buyers and Sellers.
If you are thinking of buying or selling a home on the Kohala Coast, contact me today. I will produce a customized market report for the neighborhood or area you are interested in buying or selling in. Mahalo.
September 2018 Market Highlights
If you enjoyed this update, you may like Waikoloa Beach Resort Market Update for Q3 2018.