June 2nd, 2019 12:19 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 turnaround point for the bicycle portion of the annual Ironman World Championship held in 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 is where the gated communities of Kohala Ranch are located, 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 54 single-family homes for sale in North Kohala, with 13 homes in escrow. There are also an amazing 128 land lots for sale, with 10 lots in escrow. There are no condos located in North Kohala, so statistics for that market segment do not exist.
Of the homes for sale in North Kohala, the highest priced one is listed at $3,700,000 and is located at 59-134 Kihi Kihi Pl, in the Kohala Waterfront community. For you bargain hunters, the lowest priced home on the market is located at 54-3745 Akoni Pule Hwy in Kapa’au, and it is listed by Hawaii Luxury Real Estate at the low price of $225,000.
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, there are two land lots with the lowest price. They are both listed at $159,000 and are both 3-acre lots located in Kohala Ranch.
Sales slowed slightly in North Kohala in the last half of 2018, and in the Q1 time frame of January through March 2019 that trend continued, with just 10 single-family homes being sold. The highest priced of the homes sold is located at 59-1086 Maluhi Pl, in Kohala Ranch and it sold for $2,330,000, from list price of $2,799,000. The lowest priced home to sell in North Kohala went for $265,000 from a list price or $289,000. It is located at 54-2530 Kynnersley Rd in Kapa’au.
In the land market segment, there were 9 lots sold in Q1 of 2019 in North Kohala. The highest price lot sold for $675,000 from a list price of the same amount and is a 22-acre parcel located on Kynnersley Rd in Kapaau. The lowest priced lot to sell in Q1 is a ¼ acre lot located on Hawi Rd in Hawi, and it sold for $169,000 from a list price of $175,000.
Analysis: With inventory rising slightly and sales slowing slightly, the single-family home market in North Kohala seems to be heading back into a Buyers’ Market. And of course, 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 2019 Q1 Market Update
If you enjoyed this update, you may like Kohala Market Update for April 2019.
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