The Kohala Real Estate Update for September 2021 is for the beautiful area located on the west coast of the Big Island of Hawaii. The Big Island is called that to avoid the confusion 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, containing the historic small towns of Hawi and Kapa’au, as well as the Kohala Ranch communities.
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 on the Kohala Coast in September 2022 decreased significantly over that of September 2021, with 17 homes selling this year, down from the 31 homes 
sold in September last year. That decrease was mainly due to the drop in South Kohala sales volume, with sales decreasing from 27 homes last September to 15 this September. North Kohala’s sales volume decreased from 4 homes to 2. The condo market also moved drastically downward, falling from 33 units sold in September 2021 to 14 units this September.
As with the monthly sales volumes on the Kohala Coast, the year-to-date volumes are all below last year’s numbers, with 233 single-family homes selling this year, down from the 326 homes 
sold in 2021. This decrease was felt in all market segments, with the condo market experiencing the largest decrease, falling from 337 condos sold last year to 233 units in 2022. South Kohala’s decrease went from 242 single-family homes sold in 2020 to 174 homes sold this year. The decrease in single-family homes sold in North Kohala went from 84 homes sold last year to 59 homes sold in 2022.
Unlike the sales volume, 
the change in the September median sales price was up in all markets. The median sale price in North Kohala and South Kohala both experienced increases, with North Kohala rising from $1,231,000 in September last year to $1,274,000 in September 2022. The South Kohala median sales price rose from $865,000 in September 2021 to $875,000 this year. The condo market median sale price rose as well, from $805,000 in September 2021 to $847,000 this year.
The year-to-date median sales price also experienced impressive gains in all markets. Single-family homes in South Kohala experienced the smallest increase, rising 9.82% from $825,000 in 2021 to $906,000 this year. While in North Kohala, single-family home prices rose 14.38% to break the one-million-dollar mark, coming in at $1,010,000 this year. up from $883,000 in 2021. The South Kohala condo market also broke the one-million-dollar mark, rising an impressive 45.70% from $755,000 last year to an amazing $1,100,000 in 2022.
Analysis: The Kohala Real Estate Update for September 2022 shows us that monthly sales in all segments have decreased significantly over September of last year. The year-to-date sales numbers are also down over the 2021 numbers, but even with the lower sales volume, prices have appreciated in all markets. It remains to be seen if a continued sales slowdown will start to affect price levels.
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.
Kohala Coast Real Estate Update for September 2022 Highlights
- No. of single-family homes sold in North Kohala – 2
- No. of single-family homes sold in South Kohala – 15
- No. of condo units sold in Kohala – 14
- YTD No. of single-family homes sold in North Kohala – 59
- YTD No. of single-family homes sold in South Kohala – 174
- YTD No. of condo units sold in Kohala – 233
- Median sales price of a single-family home in North Kohala – $1,274,000
- Median sales price of a single-family home in South Kohala – $875,000
- Median sales price of a condo in Kohala – $847,000
- YTD median sales price of a single-family home in North Kohala – $1,010,000
- YTD median sales price of a single-family home in South Kohala – $906,000
- YTD median sales price of a condo in Kohala – $1,100,000
If you enjoyed this update, you may like Waikoloa Beach Resort Real Estate Update for Q3 2022.