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March 9th, 2019 11:06 AM by Korby Matsen
North Kohala is a beautiful tropical area located at the northern tip of the Big Island of Hawaii. It is home to the two small towns of Hawi and Kapa’au. Hawi is most famous for being the bicycle turnaround point for the annual Ironman World Championship held each October, and its charming downtown area contains many small shops, and restaurants, including the famous Bamboo Restaurant. Hawi is also the 2nd office location of Hawaii Luxury Real Estate. The other small town, Kapa'au also contains a downtown area with small shops and cafes and is home to the original King Kamehama I Statue. A little farther south down the coast is where the gated, upscale communities of Kohala Ranch, Kohala By-the-Sea and Kohala Waterfront are located.
North Kohala contains miles of pastoral, undeveloped land, as well as a variety beautiful homes, from small starter homes to large estates, many with stunning ocean views. The southern end of North Kohala contains the gated communities of Kohala Ranch, containing many luxury homes on large lots and stunning, panoramic ocean views, as well as many large lots where you can build your own Hawaiian dream home.
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At the time of this writing (Mar 1st), there were 60 single-family homes for sale and 11 homes in escrow in North Kohala, with 125 land lots for sale, with 2 in escrow. Since there are no condos located in North Kohala, there are no statistics in that market segment. Of the homes for sale, the highest priced one is listed at $5,800,000, and is located at 55-3287 Hoea Makai Rd in Hawi. The highest priced land lot on the market is the 498-acre, Honomakau Lot #4, that is listed at $18,500,000. At the other end of the spectrum, the lowest priced home on the market is located at 54-3745 Akoni Pule Hwy in Kapa’au, and is listed at the low price of $225,000, while the lowest priced land lot for sale is a 14,898 sq ft lot in Hawi Village and is listed at $143,000.
Sales in North Kohala rose sharply in the 4th Quarter after a fairly slow Q3. In the Q4 time frame of October 1st through December 31st, there were 18 single-family homes sold in North Kohala. The highest priced home to sell is located at 59-473 Palila Pl, in Kohala Ranch. It was listed at $1,890,000 and sold for $1,600,000. The highest priced land lot to sell went for $970,000 from a list price of $975,000 and is a 1/2-acre parcel in the Kohala Waterfront. The lowest priced home to sell in North Kohala is located at 53-3707 Akoni Pule Hwy in Kapa’au. It sold for $290,000 from a list price of $335,000. While the lowest priced land lot sold for $214,500 from a list price of $300,000. It is a 1-acre parcel in Kohala Estates.
Analysis: The sales of single-family and land lots in North Kohala has remained fairly consistent throughout 2018. However, the increase in inventory of single-family homes over the last two quarters has pushed the market from a Balanced to a Buyers’ Market. The land market still remains firmly in the Buyer’s Market arena, with plenty of inventory to choose from, most of it concentrated in Kohala Ranch.
If you are looking to buy or sell a home in the North Kohala area, or anywhere on the Kohala Coast, contact me today. I will help make your Hawaiian Real Estate dreams a reality. Mahalo.
Highlights of the North Kohala 2018 Q4 Market Update
If you enjoyed this update, you may like Waikoloa Village Market Update for Q4 2018.