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 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 2024 rose sharply over April of last year, 
with 27 homes selling this year, up from 16 homes selling in April 2023. The sales volume increase happened in all Kohala markets, but mostlyin North Kohala, where 9 homes were sold, up from just one home last April. The condo market increased slightly, rising from 21 units sold in April 2023 to 24 units this April. In South Kohala single-family home sales also rose slightly, from 15 homes last April to 18 homes in April this year.
The year-to-date sales volume in Kohala markets has reflected what we saw in the monthly numbers, 
except in South Kohala, where sales volume decreased slightly. There were 83 single-family homes sold so far this year in Kohala, up from 71 homes sold by this time in 2023. The sales volume of homes in North Kohala experienced the largest increase, from 15 homes sold in 2023, to 31 homes this year. South Kohala’s year-to-date sales volume decreased slightly, with 52 homes being sold this year, down from 56 homes in 2023. The number of condos sold year-to-date also had an increase, with 74 units sold this year, up from 66 units sold in 2023.
As with sales volume, the median sale price is also up in every market, except North Kohala. The median sale price in North Kohala had a substantial decrease, 
falling from $3,200,000 in April 2023 to $1,800,000 in April this year, while in South Kohala, the median sales price in April 2024 rose to $1,042,500 from $850,000 in April 2023. The condo market in South Kohala also saw their median price rise, increasing from $1,100,000 last year to $1,132,000 in April 2024.
The year-to-date sale price in Kohala mirrored the monthly numbers. North Kohala saw the only decrease, with the year-to-date median sales price falling 28.57%, from $1,400,000 in 2023 to $1,000,000 this year. The single-family home market in South Kohala experienced the largest increase, from $871,250 in 2023 to $1,042,500 this year, a rise of 19.66%. The condo market saw the smaller increase, with the year-to-date median sales price rising 13.67%, from $937,500 in 2023 to $1,060,000 this year.
Analysis: The Kohala Real Estate Update for April 2024 reveals that the sales volumes are up in all market segments over last year, both in the monthly and year-to-date numbers. North Kohala is the only market to see a median sale price decrease, with all other markets having moderate increases in the median sale price.
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 2024 Highlights
- No. of single-family homes sold in North Kohala – 9
- No. of single-family homes sold in South Kohala – 18
- No. of condo units sold in South Kohala – 24
- YTD No. of single-family homes sold in North Kohala – 31
- YTD No. of single-family homes sold in South Kohala – 52
- YTD No. of condo units sold in South Kohala – 74
- Median sales price of a single-family home in North Kohala – $1,800,000
- Median sales price of a single-family home in South Kohala – $1,042,000
- Median sales price of a condo in South Kohala – $1,132,000
- YTD median sales price of a single-family home in North Kohala – $1,000,000
- YTD median sales price of a single-family home in South Kohala – $1,042,500
- YTD median sales price of a condo in South Kohala – $1.060,000
If you enjoyed this update, you might like Waikoloa Beach Real Estate Update for Q1 2024.