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December 16th, 2017 2:09 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, Kapa'au also contains a downtown
area with small shops and cafes, and is home to the original King Kamehama IStatue. 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, 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 (Sept 15th),
there were 40 homes for sale in the North Kohala area and 13 homes in escrow. There
are no condos located in North Kohala, but raw land lots are plentiful. There
are currently 111 land lots for sale and 2 lots in escrow. Of the homes for
sale, the highest priced one is listed at $9,270,000, and is located at 57-1719
Kohala Mtn Rd in Hawi. At the other end of the spectrum, the lowest priced home
on the market is located at 52-4230 Akoni Pule Hwy in Kapa’au, and is listed at
the low price of $230,000. The highest priced lot for sale is a 498-acre lot in
Honomakua Subdivision and is priced at $18,500,000, while the lowest priced is
a 3.59-acre lot in Kohala Ranch priced at $159,000;
Sales in the
Q3 time frame of July through September 2017 were down significantly over the
past few quarters. There were just 11 homes sold in North Kohala during this
time. The highest priced home to sell is located at 59-11215 Maki Way, in the
Kohala Ranch subdivision. It was listed at $1,795,000 and sold for $1,430,000. The
lowest priced home to sell in North Kohala was listed at $275,000 and sold for
$180,000. It is located at 55-478 Hawi Rd, just north of Downtown Hawi.
In the North Kohala raw land market, there were 6 lots sold in Q3. The highest priced lot was
33 acres that sold for $750,000 from a list price of the same amount. The
lowest priced lot to sell was on Maki Way in Kohala Ranch. It was a 3.25-acre
lot that sold for $220,000 from a list price of $250,000’
a huge jump in single family home sales in Q2, North Kohala experienced a considerable
drop in sales in Q3. Even with inventories remaining at lower levels than
earlier this year, North Kohala continues to be a Buyer’s Market in both the single-family
home and raw land segments.
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 my Market Update Page. Mahalo.
of the North Kohala 2017 Q3 Market Update
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