The Kohala Coast Market Update for December 2020 is for the magnificent area located on the west coast of the Big Island of Hawaii. The Big Island received that name as to differentiate it between the State of Hawaii and the Island of Hawaii. Kohala is split into two areas, North Kohala and South Kohala, with North Kohala covering the more rural northern end of the island, that includes the two small towns of Hawi and Kapa’au, as well as the Kohala Ranch communities at the southern end.
South Kohala, which begins just south of Kohala Ranch, covers the major, world class resorts of Mauna Kea, Mauna Lani and Waikoloa Beach Resorts, the small town of Waikoloa Village, located 6 miles inland from the resorts and Waimea, the beautiful town in the interior Waimea Valley. You can find market updates for many of these areas by visiting the Market Update Page on my website.
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The number of single-family homes sold in Kohala in December 2020 rose marginally from December 2019, with 44 homes selling in December 2020, up from 31 homes sold in 2019. This rise in sales volume happened in both North and South Kohala, 
with North Kohala having a minor increase from 7 homes sold to 10, while South Kohala rose from 25 homes in December 2019 to 34 homes in December 2020. The condo market also experienced an increase, with the number of units sold rising substantially year over year in December from 21 to 41 units.
As with the December numbers, the year-to-date sales volume also increased in 2020 over 2019, from 350 single-family homes sold in 2019 to 364 homes sold the following year. This overall increase happened in both parts of Kohala, as the number of single-family homes in North Kohala increased from 73 sold in 2019 to 85 in 2020. South Kohala, experienced a smaller increase, rising from 277 homes in 2019 to 279 homes sold last year. The condo market experienced a change in the other direction, with year-to-date sales volume falling from 302 units sold in 2019, to 278 units sold in 2020.
Even though the volume of single-family homes sold in December 2020 was up significantly in Kohala from December 2019, the change in median sales price was mixed. The median sale price in South Kohala was up a healthy $96,123, from $649,000 in 
December 2019 to $745,123 in December 2020, while in North Kohala, the median sales price in December 2020 decreased to $577,500 from $700,000 in December 2019. Along with its decrease in sales volume, the condo market also experienced a dramatic decrease in median sales price, with the December 2020 median sales price decreasing to $475,000 from $595,000 in December 2019.
The 2020 year-to-date median sales price numbers in Kohala all had impressive increases, with the single-family homes in South Kohala having the largest change, climbing 12.69% from $599,000 in 2019 to $675,000 last year. The single-family homes in North Kohala had smaller movement in the same direction, increasing 7.48%, from $735,000 in 2019 to $790,000 in 2020. Meanwhile, the condo market year-to-date number also rose, increasing 10.75% from $535,000 in 2019 to $592,500 last year.
Analysis: Ever since the Q2 market lull caused by the Covid-19 pandemic, single-family homes sales have been strong month after month. Condo sales had lagged but have picked up steam in the last few months. The Kohala Coast Market Update for December shows that with most markets at or near low inventory levels, it remains to be seen if the sales volume can sustain this pace.
If you are thinking of buying or selling a home on the Kohala Coast, contact me today. I will produce a customized market report for the neighborhood or area you are interested in buying or selling in. Mahalo.
December 2020 Kohala Coast Market Highlights
- No. of single-family homes sold in North Kohala – 10
- No. of single-family homes sold in South Kohala – 34
- No. of condo units sold in Kohala – 41
- YTD No. of single-family homes sold in North Kohala – 85
- YTD No. of single-family homes sold in South Kohala – 279
- YTD No. of condo units sold in South Kohala – 298
- Median sales price of a single-family home in North Kohala – $577,500
- Median sales price of a single-family home in South Kohala – $745,123
- Median sales price of a condo in South Kohala – $475,000
- YTD median sales price of a single-family home in North Kohala – $790,000 up 7.48%
- YTD median sales price of a single-family home in South Kohala – $675,000 up 12.69%
- YTD median sales price of a condo in South Kohala – $592,500 up 10.75%
If you enjoyed this update, you might enjoy Mauna Lani Resort Market Update for Q4 2020.