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September 23rd, 2017 2:02 PM by Korby Matsen RB-21643
North Kohala is the majestic 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, Kapaa’u, also contains a small downtown area with assorted 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 of 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, as well as many acreage lots where you can build your own Hawaiian dream home. The most alluring character of the Kohala Ranch area is that virtually every home and lot features panoramic ocean views.
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At the time of this writing (Sept 1st), there were 43 homes for sale in the North Kohala area and 12 in escrow. There are no condos located in North Kohala, so there are no statistics for that market segment. Of these homes for sale, the highest priced one continues be the home located at 68-3083 Puakea Bay Dr in the Puakea Bay Ranch community and is listed at $9,995,000. At the other end of the spectrum, the lowest priced home on the market is located at 53-4230 Akoni Pule Hwy in Kapa’au, a starter home listed at the low price of $230,000.
Sales have risen slightly since Q1 in North Kohala, with the Q2 time frame of April through June 2017 seeing 21 homes sold. The highest priced of these homes is located at 58-1200 Akoni Pule Hwy, an off-grid home in Kaupalaoa. It was listed at $2,100,000 and sold for $2,000,000 even. The lowest priced home to sell in North Kohala was listed at $225,000 and sold for $218,000. It is located at 52-290 Keokea Park Rd in Kapa’au.
Analysis: With the slight drop inventory over Q1 (48 homes to 43 homes), and the increase in sales (15 homes to 21 homes), the market in North Kohala is pretty close to being in a balanced market. As with most of the markets on the Kohala Coast, the market is slowing edging away from being a Buyer’s Market, which it has been for the last few years.
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. You can read Market Updates of other areas on the Kohala Coast on the Market Update Page of my website.
Highlights of the North Kohala Q2 Market Update
If you enjoyed this update, you may like Kohala Market Update for July 2017