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December 16th, 2018 9:58 AM 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 downtown area with small 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 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 (Dec 1st), there were 54 single-family homes for sale in the North Kohala area and 9 homes in escrow. There are no condos located in North Kohala, so we do not have statistics for them, but raw land is plentiful. There are currently 119 land lots for sale and 7 lots in escrow. Of the homes for sale in North Kohala, the highest priced one is listed at $4,750,000, and is located at 55-3287 Hoea Makai Rd in Hawi. At the other end of the spectrum, the lowest priced home on the market is located at 53-3991 Kii Place in Kapa’au and is listed at the low price of $349,000. The highest priced land lot for sale is a 498-acre lot in Honomakua Subdivision and priced at $18,500,000, while the lowest priced one is a 14,398 sq ft lot in Hawi Village priced at $143,000.
Sales in the Q3 time frame of July through September 2018 were down significantly over the past few quarters. There were just 9 single-family homes sold in North Kohala during this time. The highest priced home to sell is located at 59-116 Lauipala Place, in the Kohala Waterfront subdivision. It was listed at $4,795,000 and sold for $4,700,000. The lowest priced single-family home to sell in North Kohala was listed at $299,000 and sold for $289,150. It is located at 54-2452 Kynnersley Rd, in Kapa’au.
In the North Kohala raw land market, there were 9 lots sold in Q3. The highest priced one to sell is a 28,428 sq ft lot in Kohala Waterfront that sold for $2,100,000 from a list price of $2,200,000. The lowest priced lot to sell was a 27,000 sq ft lot in Kapa’au Village. It sold for $175,000 from a list price of $195,000.
Analysis: After three quarters of brisk sales in North Kohala, the single-family home sales volume was cut in half in Q3, with land lot sales staying somewhat the same. Unlike other areas of the Kohala Coast, North Kohala still has plenty of inventory in single-family homes, as well as land lots, keeping it firmly in a Buyers’ Market.
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.
Highlights of the North Kohala 2018 Q3 Market Update
If you enjoyed this update, you may like Waikoloa Village Real Estate Update for Q3 2018.