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September 25th, 2016 4:04 PM by Korby Matsen RB-21643
Kohala Coast is located on the west coast of the Big Island of Hawaii. It is
called the Big Island as to not confuse it 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. 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 visit my Home Search Page.
instantly find out what your Kohala Coast home is worth visit my Home ValuationPage.
more about our Vacation Rental Management Program on my Vacation Rental Page.
number of single family homes sold in August 2016 in Kohala increased slightly
over August 2015, with 28 homes selling in August this year, up from 23 homes
selling in August 2015. The marginal increase happened in both parts of Kohala,
with the volume in North Kohala rising from 2 homes sold in August 2015 to 4
homes this year, and South Kohala’s August 2016 number rising to 24 homes from
21 homes last August. The number of condos sold in August also enjoyed an
increase, a very convincing one, rising from 11 units last August to 38 units
with the marginal increase in the monthly number, the year to date volume also
experienced a largely insignificant increase in 2016, with 218 homes being sold
this year, as opposed to 216 homes being sold by this time in 2015. This slight increase was a combination of a
significant increase of the number of single family homes sold in North Kohala
(from 25 homes in 2015 to 40 homes this year) and a decrease in the sales
volume of South Kohala (from 191 sold homes last year to 178 homes this year).
As with their monthly number, the year-to-date number of condos sold also enjoyed
a healthy increase, rising from 139 units sold last year, to 168 units sold in
though this marginal increase in the volume of single family homes sold in
August 2016 compared to August 2015 happened in both parts of Kohala, the change
in median sales price did not fare so well in both the North Kohala and South
Kohala regions. The median sale price in South Kohala dropped from $515,000 in
August 2015 to $482,000 in August of this year, while in North Kohala, the
median sales price in August 2016 raised a significant $139,000 to $702,000
from $563,000 in August 2015. The change in median sales price in North Kohala can easily be abnormally skewed in one direction or the other when dealing with
such a low volume of sales. The condo market also experienced a modest price
increase, with the August 2016 median sales price rising to $455,000 from $400,000
in August 2015.
with the monthly sales price numbers, the year-to-date numbers also did not rise
across all markets, although, the only sector to see a decrease was the condo
market. The median year-to-date sales price in the condo market has continued a
trend that first started in January by dropping a modest 4.79% from $470,000 in
2015 to $447,000 this year. Meanwhile, North Kohala’s single family home median
sales price saw a double digit change in the other direction, increasing a
robust 19.92% from $615,000 in 2015 to $737,000 this year. Again, this had more
to do with the “skewing effect” that the low volume of sales brings. The single
family homes in South Kohala had a more minimal change, edging upward 2.06%,
from $485,000 in 2015 to $495,000 this year.
As like it was last month, the state of the Real Estate Market on the Kohala Coast can best be described as “muddling” slightly upwards. As we progress
through 2016, both the monthly and year-to-date numbers go up a little some
months and down a little other months. Although
the trend is upwards, the pace is very slow. Whether you find this to be good
news or bad news will depend on whether you are a Buyer or a Seller.
you are thinking of buying or selling a home anywhere on the Kohala Coast,contact me. I will produce a customized market report for the neighborhood or
area you are interested in. To view more Market Updates
from the different areas of the Kohala Coast, visit the Market Update Page.
2016 Kohala Coast Market Highlights