The Kohala Real Estate Update for June 2022 is for the magnificent 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 more rural northern end of the island, containing the small towns of Hawi, Kapa ’au and the Kohala Ranch communities.
South Kohala beginning 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 real estate updates for many of these areas by visiting the Market Updates page on my website.
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The number of single-family homes sold on the Kohala Coast in June 2022 decreased moderately over the volume of June 2021, with 25 homes selling in June of this year, down from 42 homes selling last June. The decrease in sales volume was felt in both parts of Kohala, 
where North Kohala saw just 3 homes sold in June 2022, down considerably from the 12 homes sold last June, and South Kohala decreased from 30 homes sold in June 2021 to 22 homes this June. The number of condos sold in June 2022 remained steady year over year, with 32 units being sold this June, down from 35 units in June 2021.
The decrease in sales volume in June reflects the decrease in the year-to-date volume. There have been 174 single-family homes sold so far this year, a big decrease from the 231 homes that sold by this time in 2021. Both parts of Kohala have felt this year-to-date volume decrease, with North Kohala seeing 49 homes sold so far in 2022, down from 65 homes sold in 2021. In South Kohala the sales volume decreased by 41 homes, with 125 homes selling this year, down from the 166 homes sold last year, and the number of condos sold year-to-date also experienced a decrease, with 187 units selling this year, down from 249 units sold in 2021.
Although there was a drop in the sales volume of single-family homes in June 2022 in Kohala, the median sales price still rose in all markets. The median sale price in the South Kohala single-family and condo 
markets both increased, with the median sales price of South Kohala single-family homes rising from $828,500 in June 2021 to $950,000 in June of this year, while the condo market rose from $824,000 in June 2021 to $989,444 in June of this year. The biggest increase in the median sales price was in North Kohala, where the price in June 2022 rose to an incredible $3,000,000 from $1,1134,500 in June 2021. This kind of dramatic change can be expected when you have an area with a low sales volume.
The movement in the year-to-date median sales price for homes in Kohala, mostly reflected the monthly numbers. The year-to-date median sales price in North Kohala rose 15.77%, from $907,000 in 2021 to $1,050,000 this year. South Kohala experienced a similar change, with its median sales price rising 16.15% from $783,500 in 2021 to $910,000 this year, while the condo market had the biggest increase, rising an amazing 49.73%, from $748,000 in 2021 to $1,120,000 this year.
Analysis: The Kohala Real Estate Update for June 2022 shows us that although sales volume has fallen moderately over last year, the median sales price continues to rise. Most markets are still in a low inventory situation, but the days on market has risen, indicating a lower demand.
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. Mahalo.
Kohala Real Estate Update for June 2022 Highlights
- No. of single-family homes sold in North Kohala – 3
- No. of single-family homes sold in South Kohala – 22
- No. of condo units sold in South Kohala – 32
- YTD No. of single-family homes sold in North Kohala – 49
- YTD No. of single-family homes sold in South Kohala – 125
- YTD No. of condo units sold in South Kohala – 187
- Median sales price of a single-family home in North Kohala – $3,000,000
- Median sales price of a single-family home in South Kohala – $950,000
- Median sales price of a condo in South Kohala – $989,444
- 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 – $910,000
- YTD median sales price of a condo in South Kohala – $1,120,000
If you enjoyed this update, you may like the Mauna Lani Resort Real Estate Update for Q2 2022.