March 14th, 2020 2:03 PM by Korby Matsen
North Kohala is a beautiful tropical area located at the northern tip of the Big Island of Hawaii and 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 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 with 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 10th), there were 55 single-family homes for sale, with 9 homes in escrow in North Kohala, and 115 land lots for sale, with 4 in escrow. Since there are no condos located in North Kohala, so we have no statistics for that market segment. Of the homes for sale, the highest priced one is listed at $6,590,000, and is located at 56-3083 Puakea Bay Dr in the Puakea Bay Ranch community.
The highest priced land lot on the market is on Kai Nui Pl. It is a 28-acre lot in Kohala Kai, that is listed at $11,500,000. At the other end of the spectrum, the lowest priced home on the market is located at 53-4252 Akoni Pule Hwy in Kapa’au, and is listed at the low price of $297,500, while the lowest priced land lot for sale is a 1/2 -acre lot in Nuilii Village, Kapa’au and is listed at $140,000.
Sales in North Kohala of both homes and raw land have remained steady throughout most of 2019. In the Q4 time frame of October 1st through December 31st, there were 22 single-family homes sold in North Kohala. The highest priced home to sell is located at 59-328 Puamale Pl, in Kohala Ranch. It was listed at $1,899,000 and sold for $1,750,000. The highest priced land lot to sell went for $725,000 from a list price of $949,000 and is a 20-acre parcel at 54-2263 Kynnersley Rd in Kapa’au. The lowest priced home to sell in North Kohala is located at 53-4389 Akoni Pule Hwy in Kapa’au. It sold for $128,000 from a list price of $110,000. While the lowest priced land lot sold for $180,000 from a list price of $169,000. It is a 1 1/4-acre parcel in Kohala By-the-Sea.
Analysis: The sales of single-family homes and raw land in North Kohala has remained consistent throughout most of 2019. The inventory of single-family homes throughout 2019 has kept the market on a fine line between a Balanced Market and a Buyers’ Market, while the raw land market remains firmly a Buyer’s Market, with plenty of inventory to choose from, most of it concentrated in Kohala Ranch.
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 2019 Q4 Market Update
If you enjoyed this update, you may like Waikoloa Village Market Update for Q4 2019.
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