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March 18th, 2018 1:05 PM by Korby Matsen
North Kohala is a beautiful tropical 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 on large lots and stunning, panoramic ocean views, 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 (Mar 1st), there were 36 homes and 121 land lots for sale in the North Kohala area. Since there are no condos located in North Kohala, there are no statistics in that market segment to report. Of the homes for sale, the highest priced one is listed at $4,795,000, and is located at 59-116 Lauipala Pl in the Kohala Waterfront community. The highest priced land lot on the market is the 498-acre, Honomakau Lot #4, that is listed at $18,500,000. At the other end of the spectrum, the lowest priced home on the market is located at 54-2475 Kynnersley Rd in Kapa’au, and is listed at the low price of $315,000, while the lowest priced land lot for sale is a 3-acre parcel in Kohala Ranch and is listed at $169,000.
Sales in North Kohala rose sharply in the 4th Quarter after a fairly slow Q3. In the Q4 time frame of October 1st through December 31st, there were 20 homes sold in North Kohala. The highest priced home to sell is located at 56-3083 Puakea Bay Dr, in the Paukea Bay Ranch subdivision. It was listed at $9,995,000 and sold at an auction sale for $4,250,000 on 10/31/2017. The highest priced land lot to sell went for $850,000 from a list price of $1,050,000 and is a 10-acre parcel in North Kohala. The lowest priced home to sell in North Kohala belongs to 53-4166 Akoni Pule Hwy in Kapa’au. It sold for $202,125 from a list price of $250,000. While the lowest priced land lot sold for $170,000 from a list price of $184,000. It is a 3.42-acre parcel in Kohala Ranch.
Analysis: Like many other areas of the Big Island, North Kohala is gradually moving from a Balanced Market to a Sellers’ Market. Brisk sales throughout 2017, combined with diminishing inventory is driving this market change. The land market on the other hand, remains firmly in the Buyer’s Market arena, with plenty 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. Mahalo.
Highlights of the North Kohala Q4 Market Update
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