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May 27th, 2018 3:06 PM by Korby Matsen
North Kohala is the majestic area located at the northern tip of the Big Island of Hawaii and the 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 (May 25th), there were 36 single-family homes for sale and 12 homes escrow in the North Kohala area, while an amazing 107 land lots are for sale, with 10 lots in escrow. There are no condos located in North Kohala, so there are no statistics on that market segment.
Of the homes for sale in North Kohala, the highest priced one is listed at $5,750,000 and is located at 55-3287 Hoea Makai Rd in the lovely town of Hawi. For you bargain hunters, the lowest priced home on the market is located at 54-2475 Kynnersley Rd, in Kapa’au, and it is listed at the low price of $289,000.
In the land lot market segment, the highest priced lot currently for sale in North Kohala is an enormous 498 acres located on Lokai Rd in Kapa’au and it is listed at a cool $18,500,000. At the other end of the spectrum, the lowest priced land lot for sale is listed at $169,000, and a 3-acre lot located in Kohala Ranch.
Sales have remained steady in North Kohala throughout 2017, and the Q1 time frame of January through March 2018 continued that trend with 23 single-family homes being sold. The highest priced of these homes is located at 56-3021 Puakea Bay Dr, in the Puakea Bay Ranch subdivision. It was listed at $2,880,000 and sold for $2,735,000. The lowest priced home to sell in North Kohala was listed at $269,900 and sold for $265,000. It is located at 53-3959 N Kahiwa Pl in Kapa’au.
In the land market segment there were 10 lots sold in Q1 of 2018. The highest price lot sold for $905,000 from a list price of $995,000 and is 17.55 acres located at 56-102 Old Coast Guard Rd in Hawi. The lowest priced lot to sell in Q1 is a 25,703 sq ft lot located on Puahuehue Rd in Kapa’au, and it sold for $255,000 from a list price of the same amount.
Analysis: With just 36 single-family homes on the market, and homes selling at over 20 homes a quarter, we have clearly entered a Sellers’ Market in North Kohala. On the other hand, if you are looking for some land in North Kohala, you have an abundance of inventory to choose from.
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 2018 Q1 Market Update
If you enjoyed this update, you may like Kohala Real Estate Market Update for April 2018