The Kohala Real Estate Update is for the spectacular area located on the west coast of the Big Island of Hawaii. The Big Island received its name as to differentiate it between the State of Hawaii and the Island of Hawaii. The Kohala Coast is split into two areas, North Kohala and 
South Kohala, with North Kohala covering the rural northern end of the island, containing the small towns of Hawi and Kapa’au, as well as the Kohala Ranch communities at the south end.
South Kohala begins just south of Kohala Ranch and 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 and condos sold in Kohala in April 2022 in fell drastically over April of last year, with 27 homes selling this year, down from 40 homes selling in April 2021. The sales volume decrease happened in all Kohala markets except North Kohala, where 
it stayed the same. The condo market decreased the most, falling from 54 units sold in April 2021 to 31 units this April. South Kohala fell from 30 homes sold last April to 17 homes in April this year, while the North Kohala market stayed the same, with 10 homes selling in April of both years.
The year-to-date sales volume in the Kohala markets has reflected what we saw in the monthly numbers. There were 124 single-family homes sold so far this year in Kohala, down from 146 homes sold by this time in 2021.
The sales volume of single-family homes in North Kohala decreased marginally, from 44 homes sold in 2021, to 36 homes this year. South Kohala’s year-to-date volume experienced a similar decrease over last year, with 88 homes being sold this year, down from 102 homes in 2021. The number of condos sold year-to-date had the largest decrease, with 118 units sold this year, down from 174 units sold in 2021.
This drop in sales volume in most markets is mainly due to lack of inventory, and this same lack of inventory has also caused prices to rise. 
The median sale price in North Kohala had the largest increase, almost doubling from $1,379,000 in April 2021 to $2,250,000 in April this year, while in South Kohala, the median sales price in April 2022 rose to $1,225,000 from $777,000 in April 2021. The condo market in South Kohala also saw their median price rise, increasing from $759,000 last year to $1,205,000 in April 2022.
The year-to-date numbers in Kohala also experienced increases as the monthly numbers did. North Kohala’s year-to-date median sales price rose 24.15%, from $1,078,000 in 2021 to $1,339,000 this year. The single-family home market in South Kohala saw a similar increase, from $750,000 in 2021 to $927,000 this year, a change of 23.67%. The condo market saw the most impressive increase, with the year-to-date median sales price rising an amazing 60.73%, from $703,500 in 2021 to $1,130,750 this year.
Analysis: The Kohala Real Estate Update for April 2022 shows us that the April sales numbers in all market segments are down over last year’s numbers. With most markets now in a low inventory situation, the slowdown in sales was eventual. The low inventory markets can also be blamed for the increase in prices.
If you are thinking of buying or selling a home anywhere on the Kohala Coast, contact me today. I will produce a customized market report for the neighborhood or area you are interested in. You can read market updates from the different areas of the Kohala Coast on the Market Updates Page of my website. Mahalo.
Kohala Real Estate Update for April 2022 Highlights
- No. of single-family homes sold in North Kohala – 10
- No. of single-family homes sold in South Kohala – 17
- No. of condo units sold in South Kohala – 31
- YTD No. of single-family homes sold in North Kohala – 36
- YTD No. of single-family homes sold in South Kohala – 88
- YTD No. of condo units sold in South Kohala – 118
- Median sales price of a single-family home in North Kohala – $2,250,000
- Median sales price of a single-family home in South Kohala – $1,225,000
- Median sales price of a condo in South Kohala – $1,205,000
- YTD median sales price of a single-family home in North Kohala – $1,339,000
- YTD median sales price of a single-family home in South Kohala – $927,000
- YTD median sales price of a condo in South Kohala – $1,130,000
If you enjoyed this update, you might like Waikoloa Beach Real Estate Update for Q1 2022.