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The Kohala Coast is a beautiful area located on the west coast of the Big Island of Hawaii. The Big Island received its name as differentiate 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, including the historic towns of Hawi and Kapa’au, and the Kohala Ranch communities farther south.
South Kohala covers the large, world class resorts of Mauna Kea, Mauna Lani and Waikoloa Beach Resorts’, 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 my Market Update Page.
View all homes for sale on the Kohala Coast. Instantly find out what your Kohala Coast Home is worth. Discover how our Vacation Rental Mgt Program can save you $1000’s.
The number of single-family homes sold in Kohala in February 2020 rose slightly over February 2019, with 23 homes selling in February 2019, up to 28 homes this year. That increase was felt in all market segments, as the sales volume in North Kohala increased from 1 home sold in February 2019 to 3 homes sold this year, while the volume in South Kohala rose from 22 homes last year to 25 homes this February. The number of condos sold year over year in February remained the same at 24 units both years.
With February only being the second month of the year, the overall year-to-date volume in Kohala is not yet a significant number, but it is still up significantly over last year, with 65 single-family homes being sold so far in 2020, as opposed to 39 homes being sold by this time last year. As with the February monthly number, this increase was felt in both North and South Kohala sales volume. The North Kohala volume increased from 4 homes in 2019 to 10 homes sold this year, while in South Kohala the year-to-date sales volume jumped from 34 homes sold in 2019 to 55 homes this year. The number of condos sold year-to-date was up slightly, rising from 48 units sold last year, to 50 units sold in 2020.
Although the sales volume numbers were for the most part up, the median sales price was a mixed bag, falling in the South Kohala market but rising dramatically in North Kohala. The median sale price of a single-family home in South Kohala fell from $690,000 in February 2019 to $565,000 in February of this year, while in North Kohala, the median sales price in February 2020 rose to $999,950 from $407,500 in February 2019. The condo market in South Kohala also experienced a price decrease, with the February 2020 median sales price falling to $407,500 from $474,500 in February 2019.
Although the monthly median sales prices were kind of a mixed bag, the year-to-date numbers were up in all market segments. The median year-to-date sales price in the South Kohala condo market rose a slight 2.74% from $474,500 in 2019 to $487,000 this year. South Kohala single-family homes experienced the largest rise for its median sales price, increasing 13.79% from $580,000 in 2019 to $660,000 this year. North Kohala also experienced a similar increase, rising 12.00%, from $750,000 in 2019 to $839,975 this year.
Analysis: Sales volume in all market segments has been fairly steady through the last half of 2019 and the beginning of 2020, while price appreciation has remained flat. February showed signs of acceleration in both sales volume and price appreciation, but that may come to a quick end with the onset of the coronavirus crisis. There are uncertain times coming in the month ahead.
If you are thinking of buying or selling a home anywhere on the Kohala Coast, contact me today. I will produce a customized market report for the neighborhood or area you are interested in. If you currently own a vacation home or a vacation rental, find out how you can save thousands in management fees with our Vacation Rental Management Program. Mahalo.
February 2020 Kohala Market Highlights
If you enjoyed this update, you may like Mauna Lani Resort Real Estate Update for Q4 2019.
The Kohala Coast is a beautiful area located on the west coast of the Big Island of Hawaii. The Big Island received its name as to differentiate 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, including the small towns of Hawi and Kapaau, and the Kohala Ranch communities farther south.
South Kohala, which begins just south of Kohala Ranch, covers the major, world class resorts of Mauna Kea, Mauna Lani and Waikoloa Beach Resorts, 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 my Vacation Rental Mgt Program can save you $1000’s.
The number of single-family homes sold in Kohala in January 2020 increased substantially over January 2019, with 16 homes selling in January 2019 up to 37 homes sold this year. That increase was felt in all market segments, with the sales volume in North Kohala increasing from 4 homes sold in January 2019 to 7 this year, while the volume in South Kohala increased from 12 homes sold to an astounding 30 homes. The number of condos sold year over year in January in Kohala was less dramatic, increasing from 24 units last year to 26 units this year.
With January being the first month of the year, the year-to-date volume is going to be equal to the monthly numbers, with 37 homes being sold so far in 2020, as opposed to 16 homes being sold by this time last year. The South Kohala volume increased from 12 homes in January 2019 to 30 homes sold this year, while in North Kohala the increase was only by three, from 4 single-family homes sold by this time in 2019, to 7 homes this year. The number of condos sold year-to-date also had an increase in sales volume, rising from 24 units sold last year, to 26 units sold in 2020.
Along with the increases in sales volume of single-family homes in January 2020 in both North and South Kohala, also came increases in median sales prices in most regions. The median sale price in South Kohala rose from $535,000 in January 2019 to $702,500 in January of this year, while in North Kohala, the median sales price in January 2020 fell to $680,000 from $810,000 in January 2019. The condo market also experienced a remarkable price increase, with the January 2020 median sales price rising to $632,500 from $482,500 in January 2019.
Along with the monthly median sales prices being up in most markets in January 2020, the year-to-date numbers were also up in most markets. The median year-to-date sales price in the condo market rose an amazing 31.09% from $482,500 in 2019 to $632,500 this year. North Kohala experienced the only decrease for its median sales price, dropping 16.05% from $810,000 in 2019 to $680,000 this year, and the single-family homes in South Kohala had the largest increase, rising an impressive 31.31%, from $535,000 in 2019 to $702,500 this year.
Analysis: The sales volume of single-family homes rose significantly on the Kohala Coast in January 2020 compared to last January. This continues the strong monthly numbers we have seen over the past six months. Both the single-family home and condo markets’ in South Kohala saw impressive median sales price increases after almost a year of stagnant growth.
If you are thinking of buying or selling a home anywhere on the Kohala Coast, contact me today. I will produce a customized market report for the neighborhood or area you are interested in. If you currently own a vacation home or a vacation rental in Kohala, find out how you can save thousands in management fees with our Vacation Rental Management Program. Mahalo.
January 2020 Kohala Market Highlights
If you enjoyed this update, you may like Waikoloa Village Real Estate Update for Q4 2019.
Mauna Kea Resort is a beautiful 1,839 acre resort located on the West Coast of the Big Island of Hawaii. This Kohala Coast resort contains two world class hotels, the Mauna Kea Beach Hotel and the Westin Hapuna Beach Resort. These hotels are located along some of the most pristine white sand beaches in all of Hawaii. The luxurious homes located in Mauna Kea Resort are second to none, with everything from private oceanfront homes to condos with sweeping ocean views.
The Mauna Kea Resort also offers its residents access to two Championship Golf Courses, the Seaside Tennis Club, a Fitness Center, and the Mauna Kea Spa. Some of the many restaurants include Number 3, the Hua Tree Lanai, the Copper Bar Cafe, Clambake and the Manta & Pavilion Wine Bar.
View all homes for sale in the Mauna Kea Resort. Instantly find out what your Mauna Kea Resort Home is worth. Discover how my Vacation Rental Mgt Program can save you $1,000’s.
At the time of this writing (Feb 10th), there were 9 single-family homes and 8 condos for sale in the Mauna Kea Resort, with no homes or condos in escrow. The highest priced of these homes is listed at $9,950,000 and is located at 62-3692 Kiekiena Place in The Bluffs at Mauna Kea, while the highest priced condo on the market is listed at $4,290,000 and can be found at the Halia Hale at Kaunaoa #6B. At the other end of the spectrum, the lowest priced single-family home on the market is 62-3997 Moani Pikake Ct in Moani Heights and is listed at $1,975,000. While the lowest priced condo currently for sale is listed at $875,000 and is in Kumulani at the Uplands at Mauna Kea, Unit #B1.
The sales volume of homes in Mauna Kea Resort continues to be slow, with no single-family homes, and just 4 condos being sold during this time from October 2019 through December 2019. With no single-family homes selling, there are only condo statistics to report. The highest priced condo in Mauna Kea Resort sold for $3,100,000, from a list price of $3,195,000 and is Villas at Mauna Kea #34. The lowest priced condo is Kumulani at the Uplands #I1, and sold for $735,000 from a list price of $789,000.
Analysis: Even though the inventory levels in Mauna Kea have been low throughout 2019, the low sales volume has the kept the condo segment in a Balanced Market, and single-family home segment in a Buyers’ Market.
If you are looking to buy or sell a home in the Mauna Kea Resort, or anywhere on the Kohala Coast, contact me today. I will help make your Hawaiian Real Estate dreams a reality. Mahalo
Highlights of the 2019 Q4 Mauna Kea Resort Market Update
If you enjoyed this update, you may like Kohala Coast Market Year in Review 2019.
The Kohala Coast is a magnificent area located on the west coast of the Big Island of Hawaii. The Big Island received that name as to differentiate 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, that includes the two small towns of Hawi and Kapa’au, as well as the Kohala Ranch communities at the southern end.
South Kohala, which begins just south of Kohala Ranch, covers the major, world class resorts of Mauna Kea, Mauna Lani and Waikoloa Beach Resorts, 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 our Vacation Rental Management Program can save you $1000’s.
The number of single-family homes sold in Kohala in December 2019 increased slightly from December 2018, with 31 homes selling in December this year, up from 29 homes sold in 2018. This rise in sales volume only happened in South Kohala, with North Kohala having a minor decrease from 7 homes sold to 6. The condo market also experienced a decline, with the number of units sold decreasing substantially year over year in December from 27 to 19 units.
As with the December numbers, the year-to-date sales volume increased slightly in 2019 over 2018, from 343 single-family homes sold last year to 349 homes sold this year. This overall increase happened in both parts of Kohala, as the number of single-family homes in North Kohala increased from 67 homes sold in 2018 to 72 this year. South Kohala, experienced a an even smaller increase, rising just one unit, from 276 homes last year to 277 homes sold this year. The condo market experienced a slight change in the other direction, with year-to-date sales volume falling from 304 units sold in 2018, to 299 units sold this year.
Even though the volume of single-family homes sold in December 2019 was up slightly in Kohala from December 2018, the change in median sales price was mixed. The median sale price in South Kohala was up a healthy $45,750, from $603,250 in December 2018 to $649,000 in December 2019, while in North Kohala, the median sales price in December 2019 decreased to $662,500 from $689,000 in December 2018. Along with its decrease in sales volume, the condo market also experienced a dramatic decrease in median sales price, with the December 2019 median sales price decreasing to $599,000 from $669,500 in December 2018.
The 2019 year-to-date median sales price numbers in Kohala all had marginal changes, with the single-family homes in North Kohala having the largest change, falling a modest 4.97% from $755,000 in 2018 to $717,500 this year. The single-family homes in South Kohala had a slight movement in the other direction, increasing just 0.50%, from $596,000 in 2018 to $599,000 this year. Meanwhile, the condo market year-to-date number was also slight change, falling just 0.37% from $540,000 in 2018 to $538,000 this year.
Analysis: With almost all market and statistical segments having incremental movements in one direction or the other, I would have to describe the current market as stagnant. The 2019 numbers are almost the same as the 2018 numbers. It remains to be seen if this is a “pause” in the market, or a trend.
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.
December 2019 Kohala Coast Market Highlights
If you enjoyed this update, you might enjoy Mauna Lani Resort Update for Q4 2019.
The Kohala Coast is the majestic area located on the west coast of the Big Island of Hawaii. The name Big Island came about as to distinguish it from the State of Hawaii. Kohala is split into two areas, North Kohala and South Kohala, with North Kohala covering the northern, more rural end of the island, which includes the small towns of Hawi and Kapa’au, as well as the Kohala Ranch neighborhoods a little farther south.
South Kohala covers the world class resorts of Mauna Kea, Mauna Lani and Waikoloa Beach Resorts, 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.
The sales volume in all market segments moved slightly in one direction or another in 2019. North Kohala experienced the largest change, with the sales volume increasing by 9%, from 67 single-family homes sold in 2018 to 73 sold in 2019. The number of single-family homes sold in South Kohala increased by just one unit, from 276 homes in 2018 to 277 homes sold this past year. The number of condos sold in 2019 experienced a slight decline, falling from 304 units sold in 2018, to 301 units sold in 2019, a drop of 1%.
The same could be said about the median sale price in 2019, with single-family homes in all areas of Kohala experiencing slight variations from their 2018 numbers. North Kahala had the largest variation, falling a modest 3% from $755,000 in 2018 to $735,000 in 2019. The single-family homes in South Kohala had a small move in the other direction, rising a slight 0.50%, from $596,000 in 2018 to $599,000 in 2019. The condo market also had a very slight move, decreasing a minor 0.93% from $540,000 in 2018 to $535,000 in 2019.
Analysis: The sales volume and median sales price numbers on the Kohala Coast all experienced changes so small they could be considered insignificant. With 2017 and 2018 being two solid years, the sales volume in 2019 being the same amount is not necessarily a bad thing, but the stagnant median sales prices are somewhat surprising. As we enter 2020, it remains to be seen if this is a market “pause” or a trend.
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.
View all homes for sale on the Kohala Coast. Find out instantly the value of your Kohala Coast Home. Discover how my Vacation Rental Mgt Program can save you $1000’s.
2019 Kohala Real Estate Market Highlights
If you enjoyed is update, you may like Mauna Lani Resort Market Update for Q4 2019.
Waikoloa Beach Resort is a beautiful resort located on the West Coast of the Big Island of Hawaii. This world famous Kohala Coast resort contains everything to make your Hawaiian experience complete. Waikoloa Beach Resort is home to the Hilton Waikoloa Village Hotel and the Waikoloa Beach Marriott Resort and Spa.
There is also great shopping at the Queen’s Marketplace and the King’s Shops, and great restaurants like Roy’s Waikoloa Bar & Grill, the Macaroni Grill and the Lava Lava Beach Club. Waikoloa Beach Resort also contains two world class golf courses, the Beach Course and the King’s Course, and of course, the spectacular white sand beaches are also close by.
View all homes for sale in the Waikoloa Beach Resort. Instantly find out the value of your Waikoloa Beach Resort home. Discover how our Vacation Rental Management Program can save you $1,000’s.
At the time of this writing (Jan 5th), there were no single-family homes on the market in Waikoloa Beach Resort, but 7 homes are in escrow. The highest priced of the homes in escrow is listed at $4,800,000 and is located at 69-1037 Kolea Kai Circle, in the Kolea community, while the lowest price one is listed at $999,000 and can be found at 69-9222 Ainamulu St, in the new development, Ainamalu at Waikoloa Beach.
In the condo arena there are currently 32 condos for sale in Waikoloa Beach Resort with 10 condos in escrow. The highest priced condo on the market is listed at $1,999,000 and is Unit #2C in Kolea Condo Villas, which is part of the Kolea community. While at the other end of the spectrum, the lowest priced condo currently available is listed at $325,000 and is Unit #138 in the Shores at Waikoloa Beach.
In the 4th quarter of 2019, there was just 1 single-family homes sold in the Waikoloa Beach Resort as the new development, Ainamalu at Waikoloa Beach finishes out its Phase 1 construction. The home that sold is located at 69-1525 Anaole St. and it sold for $1,904,000 from a list price of $2,100,000. Meanwhile, in this time frame between October and December, there were 24 condos sold, and the highest priced of these is Unit 7D in Kolea Condo Villas, which sold for $1,270,000, from a list price of $1,390,000. While the condo with the lowest sales price went for $370,000, from a list price of $410,000 and is Unit #131 in The Shores at Waikoloa Beach.
Analysis: Although sales of condos have dipped slightly in the second half of 2019, the inventory levels have also come down, keeping Waikoloa Beach Resort in a Seller’s Market in the condo segment. The drop in single-family home sales has been caused by lack of inventory, which will change in 2020, as the second phase of the new development, Ainamalu at Waikoloa Beach opens.
If you are looking to buy or sell a home in the Waikoloa Beach Resort, or anywhere on the Kohala Coast, contact me today. I will help you make your Hawaiian Real Estate dreams come true. Mahalo
Highlights of the Waikoloa Beach Market Update for Q4 2019
If you enjoyed this update, you may like Kohala Coast Market Update for November 2019
Mauna Lani is a beautiful resort located on the West Coast of the Big Island of Hawaii. This Kohala Coast resort covers over 3,200 acres and contains 15 separate neighborhoods. From private oceanfront homes to secluded condos, there is something for every discerning buyer. The Mauna Lani Resort offers its residents two Championship Golf Courses, the Mauna Lani Beach Club, and a Spa and Fitness Center.
Also, within the resort are two luxury hotels, the Auberge Resort, Mauna Lani (currently closed for renovations) and the Fairmont Orchid Hotel. Both hotels offer a wide variety of activities and dining options. The Shops at Mauna Lani also provide plenty of restaurant choices, such as Tommy Bahamas’ and Ruth’s Chris Steak House. This open-air mall also consists of a selection of shops that include a mixture of famous brand names and local craftsmanship, and of course, the world-class, white sand beaches are always close by.
View all homes for sale in the Mauna Lani Resort. Instantly find out what your Mauna Lani Home is worth. Discover how my Vacation Rental Management Program can save you $1000’s.
At the time of this writing (Jan 2nd), there were 20 single-family homes for sale in Mauna Lani Resort, but no homes in escrow, along with 48 condos for sale, and 6 in escrow. Of the homes for sale, the highest priced one is listed at $18,900,000, and is located at 68-1025 Pauoa Way in the Pauoa Beach subdivision, while the most expensive condo on the market is listed at $3,275,000 and is Unit #1B2R in the Residences of Laulea community.
At the other end of the spectrum, the lowest priced home on the market is 68-1122 N Kaniku Dr #217, located in Ka Milo at Mauna Lani, and is listed at $1,788,000, while on the condo side, the lowest priced one currently on the market is listed at $549,000. It is Unit #B-3, in the Palm Villas at Mauna Lani.
When it comes to sales in the 4th Quarter, the number of condos sold was, as usual, quite higher than the number of single-family homes sold. In the Q4 time frame of October through December 2019, there were 5 single-family homes sold in the Mauna Lani Resort, while 19 condos were sold. The highest priced home to sell is at 68-1002 Papakonane and it sold for $5,100,000, from a list price of $5,500,000. The lowest priced home sold for $1,465,000, from a list price of $1,550,000, and is 68-1025 N Kaniku Dr #401, in The Villages at Mauna Lani. The highest priced of the 19 condos sold is also in Ka Milo at Mauna Lani, Unit 123, and it sold for $1,350,000, from a list price of the same amount. While the condo with the lowest sales price was Palm Villas #B-3, which sold for $512,250 from a list price of $514,900.
Analysis: The sales volume of single-family homes and condos in Mauna Lani Resort has remained fairly constant throughout 2019. Condo inventory increased slightly in the 4th Quarter as sellers put their units on the market for the winter selling season, but at a 6-month supply, we are still in a Balanced Market. As for the single-family home segment, we were in a Buyers’ Market even before the usual winter inventory increase.
If you are looking to buy or sell a home in the Mauna Lani Resort, or anywhere on the Kohala Coast, contact me today. I will help make your Hawaiian Real Estate dreams a reality. If you enjoyed this Market Update, read about other location on the Kohala Coast on my Market Update Page. Mahalo
Highlights of the Q4 2019 Mauna Lani Real Estate Update
If you enjoyed this update, you may like Kohala Real Estate Update for November 2019.
The Kohala Coast is located on the west coast of the Big Island of Hawaii. It is called the Big Island as to differentiate 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, containing the historic small towns of Hawi, Kapa’au, and the Kohala Ranch communities.
South Kohala is just south of Kohala Ranch and contains the major, world class resorts of Mauna Kea, Mauna Lani and Waikoloa Beach Resorts’, 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 my Vacation Rental Management Program can save you $1,000’s.
The number of single-family homes sold in Kohala in November 2019 was up slightly over November 2018, with 22 homes selling in November 2018, while 26 homes were sold this November. This increase in sales volume happened in both parts of Kohala. In South Kohala, the volume increased slightly, from 18 homes to 19, and in North Kohala there was an increase of 3 homes, from 4 homes up to 7. The number of condos sold remained the same in November 2019 over last November, with 17 units selling both years.
As with the November monthly number of single-family homes sold, the overall year-to-date volume also increased marginally in 2019 over 2018, with 277 homes being sold by this time last year, while 280 homes were sold this year. This overall increase was not enjoyed in both parts of Kohala, with the number of single-family homes in North Kohala increasing from 60 homes sold 2018, to 66 sold homes this year, while South Kohala decreased from 254 homes last year to 251 homes sold in 2019. The number of condos sold year-to-date was also up marginally, rising from 277 units sold in 2018, to 280 units sold this year.
Even though the sales volume of single-family homes in Kohala experienced slight increases in November 2019 from November 2018 in most market segments, the change in median sales price was somewhat of a mixed bag. The median sale price in South Kohala experienced a small decrease, falling from $645,295 in November 2018 to $625,000 in November of this year, while North Kohala experienced the only increase, rising a small amount, from $381,250 in November 2018 to $390,000 this November. The condo market was the only segment to remain the same, with the November median sales price being $535,000 in both years.
Although the monthly numbers for November were a mixed bag, the year-to-date numbers in November 2019 were mostly down. The year-to-date median sales price of single-family homes in North Kohala experienced the largest decrease, falling 4.32%, from $776,000 in 2018 to $742,500 this year. The median price of single-family homes in South Kohala had less of a decrease, falling just 0.17% from $596,000 in 2018 to $595,000 this year, while the condo market saw the only increase, rising just 0.86%, from $525,000 last year to $529,000 in 2019.
Analysis: The monthly sales volume and median sales price numbers in November 2019 reflect how the market has been for most of 2019 in Kohala. A market that has pretty much remained flat in sales volume and price appreciation, in comparison to 2018.
November 2019 Kohala Market Highlights
If you enjoyed this update, you may like Mauna Lani Resort Market Update for Q3 2019.
The Kohala Coast is the majestic area located on the west coast of the Big Island of Hawaii. The Big Island received its name as to differentiate it between the State of Hawaii and the Island of Hawaii. The Kohala Coast 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, Mauna Lani and Waikoloa Beach Resorts’, 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 2019 on the Kohala Coast increased substantially from last October, with 35 homes selling in October 2019, up from 24 homes last year. That increase was felt in both South Kohala, with 27 single-family homes selling, up from 19, and North Kohala, with 8 homes selling, up from 5 homes. The condo market also experienced an increase, rising from 17 units sold in October 2018 to 26 units this October.
Although there was an increase in sales volume in October 2019, the overall year-to-date sales volume on the Kohala Coast has been somewhat stagnant in 2019, with 290 single-family homes being sold this year, down slightly from the 292 homes sold this time last year. The number of single-family homes in North Kohala increased slightly from 56 homes sold by this time last year to 59 homes this year, and South Kohala saw a slight reduction, with the number of single-family homes falling from 263 homes last year to 231 homes sold this year. The number of condos sold year-to-date enjoyed a small increase, rising to 263 units sold this year from 260 units sold in 2018.
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 decrease, falling from $1,169,000 in October 2018 to $730,000 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 2019, however, saw a small increase, rising to $599,000 this year from $580,000 in October 2018. The condo market median sales price enjoyed the largest gains, rising from $508,500 in October 2018 to $720,000 this year.
Even with the mixed bag of numbers in October’s median sales price, all market segments remained relatively the same as last year in their year-to-date numbers. Single-family homes in North Kohala saw the only decrease, however small, in their year-to-date median sales price, falling an ever so slight 0.61% from $825,000 in 2018 to $820,000 this year, while the single-family homes in South Kohala remained the same, staying at $595,000 in both years. The condo market experienced the only increase in its year-to-date median sales price, rising just 1.34% from $522,000 in 2018 to $529,000 this year.
Analysis: October was the first time in many months that we saw a significant increase in sales volume. It was not, however, enough to overcome the flat year-to-date volume in 2019. And except for the usually wild fluctuations in North Kohala, the median sales price has also remained flat throughout the year. As we head into the busy winter season, it remains to be seen if 2019 is a pause in the market, or a trend.
October 2019 Market Highlights
If you enjoyed this update, you may like Mauna Kea Resort Update for Q3 2019.
Mauna Kea Resort is a beautiful 1,839-acre resort located on the West Coast of the Big Island of Hawaii. This Kohala Coast resort contains two world class hotels, the Mauna Kea Beach Hotel and the Westin Hapuna Beach Resort. These hotels are located along some of the most pristine white sand beaches in all of Hawaii. The luxurious homes located in Mauna Kea Resort are second to none, with everything from private oceanfront homes to condos with sweeping ocean views.
The Mauna Kea Resort also offers its residents access to two Championship Golf Courses, the Seaside Tennis Club, a Fitness Center, and the Mauna Kea Spa. Some of the many restaurants include Number 3, the Hua Tree Lanai, the Copper Bar Cafe, Clambake and the Manta.
At the time of this writing (Oct 20th), there were 8 single-family homes and 1 condo for sale in the Mauna Kea Resort, with 5 homes and 2 condos in escrow. Of the single-family homes for sale, the highest priced one is listed at $9,950,000, and is located at 62-3692 Kiekiena Place in The Bluffs at Mauna Kea, while the highest priced condo on the market is listed at $3,400,000 and is the Villas at Mauna Kea #33.
At the other end of the spectrum, the lowest priced single-family home on the market is at 62-3997 Moani Pikake Ct in Moani Heights and is listed at $1,975,000. While the lowest priced condo currently for sale is listed at $910,000 and is Kumalani at the Uplands #C1.
The sale of single-family homes in Mauna Kea Resort remained steady the last the quarters, with 4 single-family homes selling in Q3. The highest priced of these homes sold for $2,950,000 from a list price of $3,350,000 and is located at 62-3458 Aloalii Pl in the Fairways North. The lowest priced single-family home sold in Mauna Kea Resort is Waiulaula at Mauna Kea #331, and it sold for $2,115,000, from a list price of $2,226,000. The highest priced condo to sell in Q3 went for $1,950,000, from a list price of $2,000,000 and is Waiulaula at Mauna Kea #302, while the lowest priced condo to sell is Kumulani at the Uplands #J3. It sold for $862,000, from a list price of $919,000.
Analysis: The sale of single-family homes in Mauna Kea Resort has bounced back the last few quarters after three quarters of zero sales, while the condo sale in Q3 fell to just one unit after three quarters of 4 or more units sold. The low amount of inventory could be a contributing factor to the relatively low volume of sales.
Highlights of the 2019 Q3 Mauna Kea Resort Update