The Kohala Coast Real Estate Update for February 2022 is for the beautiful area located on the west coast of the Big Island of Hawaii. The Big Island received its name as 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, including the historic towns of Hawi and Kapa’au, and the Kohala Ranch communities farther south.
South Kohala, which begins just south of Kohala Ranch, covers the large, 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 my Market Update Page.
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The Kohala Real Estate Update for February 2022 shows us that the number of single-family homes sold fell slightly over February 2021, with 29 homes selling last February to 25 homes this year. That decrease did not happen in all areas, with the sales volume in North Kohala decreasing from 11 homes sold last February to 7 homes sold this year, and the volume in South Kohala remaining at 18 homes in both February 2021 and this 
February. The number of condos sold year over year in February also experienced a small decrease, going from 37 units in February 2021 to 25 units this February.
With February only being the second month of the year, the overall year-to-date volume in Kohala is not yet a significant number, and it has not surpassed the 2021 number. There have been 56 single-family homes sold so far in 2022, down from 61 homes sold by this time last year. Like the monthly number, this decrease was only felt in North Kohala.
The North Kohala sales volume fell from 20 homes sold in 2021 to 13 homes sold this year, while in South Kohala the year-to-date sales volume rose from 41 homes sold last year to 43 homes in 2022. The number of condos sold year-to-date was also down significantly, falling from 72 units sold last year, to 50 units sold in 2022.
Although the sales volume numbers were down, the opposite is true for the median sales price, rising in all market segments. The median sale price of a single-family home in South Kohala rose from $714,000 in 
February 2021 to $962,500 in February of this year, while in North Kohala, the median sales price in February 2022 rose dramatically to $1,385,000 from $827,000 in February 2021. The condo market in South Kohala also experienced a dramatic price increase, with the February 2022 median sales price rising to $1,100,000 from $697,000 in February 2021.
As with the monthly median sales prices, the year-to-date numbers were up in all market segments. The median year-to-date sales price in the South Kohala condo market had the most dramatic rise, going up 47.88% from $661,000 in 2021 to $977,500 this year. South Kohala single-family homes felt a less dramatic rise for its median sales price, increasing 27.79% from $716,000 in 2021 to $915,000 this year. North Kohala experienced the smallest increase, rising 19.52%, from $878,500 last year to $1,050,000 in 2022.
Analysis: The Kohala Real Estate Update shows us that sales volume in all market segments is still strong but has slowed slightly compared to last year’s market, with prices continuing to rise. The slight sales slowdown is mainly due to the low inventory, and not buyer demand, which remains strong.
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. If you currently own a vacation home or a vacation rental, find out how you can save thousands in management fees with our Vacation Rental Management Program. Mahalo.
Kohala Real Estate Update for February 2022 Highlights
- No. of single-family homes sold in North Kohala – 7
- No. of single-family homes sold in South Kohala – 18
- No. of condo units sold in South Kohala – 25
- YTD No. of single-family homes sold in North Kohala – 13
- YTD No. of single-family homes sold in South Kohala – 43
- YTD No. of condo units sold in South Kohala – 50
- Median sales price of a single-family home in North Kohala – $1,385,000
- Median sales price of a single-family home in South Kohala – $962,500
- Median sales price of a condo in South Kohala – $1,100,000
- YTD median sales price of a single-family home in North Kohala – $1,050,000
- YTD median sales price of a single-family home in South Kohala – $915,000
- YTD median sales price of a condo in South Kohala – $977,500
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