The first half of 2025 on the Kohala Coast brought some major shifts to the luxury real estate market on the Big Island. Both North Kohala and South Kohala saw steady activity, but the profile of buyers and where money is flowing from tells us a lot about what’s ahead.
How Did South Kohala Perform in Early 2025?
- Total Sales Volume: ~$901M
- Buyer Mix: 50% Hawai‘i residents, 47% U.S. mainland buyers, 3% foreign buyers
- Top Mainland Sources: California ($363M), Washington ($67.9M), Oregon ($39.5M), Alaska ($21.8M)
- Foreign Investment: Canada ($31.8M) and Japan ($30.3M) were the leaders
💡 Key Insight for Sellers: California buyers remain the single largest driver of luxury purchases, accounting for over a third of mainland investment. Sellers positioning their property with Bay Area and Los Angeles buyers in mind are more likely to capture top dollar.
What’s Different in North Kohala?
- Total Sales Volume: ~$38M
- Buyer Mix: 76% Hawai‘i residents, 24% U.S. mainland, 0% foreign buyers
- Top Sources: Hawai‘i ($25.4M), Tennessee ($5.8M), Massachusetts ($2.8M), Alaska ($2.7M), California ($1.6M)
💡 Key Insight for Buyers: North Kohala remains more insulated from foreign capital, with a stronger share of local and U.S. mainland buyers. This makes the market less volatile — ideal for buyers seeking long-term stability and privacy in an exclusive community.
Average Price Per Sale: South Kohala vs. North Kohala
- South Kohala: Hawai‘i buyers averaged $1.05M per purchase, while California buyers averaged $2.93M per purchase.
- North Kohala: Fewer sales overall, but the Tennessee and Massachusetts purchases exceeded $2M each, signaling selective high-value investment.
💡 Key Insight for Luxury Sellers: The gap between local and mainland average spend highlights where to focus your marketing. Mainland buyers consistently pay 2–3x more than local buyers for Kohala Coast properties.
Why Does This Matter for Kohala Coast Luxury Buyers & Sellers?
- For Buyers: If you’re coming from California or other mainland hubs, you’re competing with peers who are willing to spend significantly more – acting sooner can lock in better opportunities before competition intensifies.
- For Sellers: Properties marketed to the right mainland feeder markets (CA, WA, OR) can achieve record pricing. High-quality marketing targeted outside Hawai‘i is no longer optional, it’s essential.
The Bottom Line
- South Kohala is the engine: It represents ~34% of island sales activity.
- California buyers are powering luxury price points in South Kohala. In 2025 YTD they purchased $363.0M across 124 sales—~$2.93M average per sale. Local Hawai‘i buyers closed 329 sales / $347.2M (≈ $1.06M avg), so the mainland dollars are setting the top of the market.
- Foreign luxury is back at the very top. In South Kohala, Japan ($30.3M across 7 sales ≈ $4.33M avg) and Canada ($31.8M across 8 sales ≈ $3.98M avg) posted the highest average prices.
- North Kohala stays hyper-local: 76% local / 24% mainland / 0% foreign, with HI buyers $25.4M (31 sales ≈ $819k avg). Notably, single out-of-state purchases pushed ultra-high tickets (TN: $5.8M; MA: $2.8M; AK: $2.7M).
- Positioning tip for sellers: South Kohala sellers can confidently price premium resort product toward the $3M–$5M band where CA/Japan/Canada demand is active. North Kohala sellers benefit most from move-in-ready, lifestyle-driven listings priced for local upgraders, while remaining prepared for occasional mainland trophy buyers.
📲 Whether you’re considering selling or are a buyer looking for a foothold in Hawai‘i’s most prestigious resorts, now is the time to act.
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