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March 28th, 2017 4:22 PM by Korby Matsen RB-21643
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 turnaraound 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, Kapaa’u 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 with 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 15th), there were 6o homes for sale in the North Kohala area. Since there are no condos located in North Kohala, there are no statistics in that market segment to report. Of the homes for sale, the highest priced one is listed at $9,995,000, and is located at 68-3083 Puakea Bay Dr in the Puakea Bay Ranch community. While at the other end of the spectrum, the lowest priced home on the market is located at 53-4230 Akoni Pule Hwy,and is listed at the low price of $248,000.
Sales in the 4th Quarter remained steady in North Kohala. In the Q4 time frame of October through December 2016 there were 13 homes sold in North Kohala. The highest priced home to sell is located at 59-209 Laninui Dr, in the Kohala Ranch subdivision. It was listed at $1,425,000 and sold for $1,392,000 on November 21st. The lowest priced home to sell in North Kohala belongs to two homes. They both sold for $285,000. One was listed at $284,000, is located at 53-3955A N Kupa Pl, in Kapa’au and sold on October 25th. The other is located at 53-468 Halaula Maulili Rd, also in Kapa’au, and sold on December 2nd, from a list price of $299,000.
Analysis: With 60 homes on the market, and homes selling at a steady rate of 13 -15 per quarter, there is about a years supply of inventory to be absorbed. This amount of inventory translates into this being a Buyer’s Market in North Kohala for the foreseeable future.
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 come true.
Highlights of the North Kohala Q4 Market Update