June 21st, 2020 1:12 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 for 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 acreages 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 feature panoramic ocean views.
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At the time of this writing (May 25th), there were 40 single-family homes for sale in North Kohala, with 11 homes in escrow. There are also an incredible 96 land lots for sale, with 4 of them 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 a listed at $6,590,000 and is located at 56-3083 Puakea Bay Rd, in the Puakea Bay Ranch community. For you bargain hunters, the lowest priced home on the market is located at 54-4252 Akoni Pule Hwy in Kapa’au and is listed at the low price of $297,000.
In the land lot market segment, the highest priced lot currently for sale in North Kohala is an enormous 457-acre parcel located on Lokai Rd in Kapa’au and is listed at a cool $15,500,000. At the other end of the spectrum, the lot with the lowest price is listed at $140,000 and is a 1/2-acre plot on Akoni Pule Hwy in Kapa'au.
Sales slowed slightly in North Kohala during the Q1 time frame of January through March 2020, with 16 single-family homes being sold. The highest priced of the homes sold is located at 59-193 Kohala Ranch Rd, in Kohala Ranch and it sold for $2,722,000, from list price of $2,750,000. The lowest priced home to sell in North Kohala went for $308,655 from a list price or $329,900. It is located at 54-2253 Kynnersley Rd in Kapa’au.
In the land market segment, there were 9 lots sold in Q1 of 2020 in North Kohala. The highest price lot sold for $654,300 from a list price of $695,000 and is a 30-acre parcel located on Lahuiki Pl in Hawi. The lowest priced lot to sell in Q1 is a 3.5-acre lot in Kohala Ranch and it sold for $120,000 from a list price of $129,000.
Analysis: Sales and inventory levels of single-family homes were down marginally in North Kohala during the 1st Quarter of 2020, which is counter of what we have seen in other markets on the Kohala Coast. While the inventory level of lots is down slightly, sales volume has remained steady. It remains to be seen if how the ongoing pandemic will affect these numbers in the months ahead.
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 2020 Q1 Market Update
If you enjoyed this update, you may like Kohala Market Update for April 2020.
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