The Kohala Real Estate Update for September 2023 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 2023 increased slightly over that of September 2022, 
with 20 homes selling this year, up from the 17 homes sold last September. That increase was mainly due to the rise in the North Kohala sales volume, with sales increasing from just 2 homes last September to 7 this September. The South Kohala sales volume decreased from 15 homes to 13, while the condo market moved upward, rising from 14 units sold in September 2022 to 19 units this September.
Although the monthly sales volumes on the Kohala Coast were up slightly, the year-to-date 
volumes are all below last year’s numbers, with 175 single-family homes selling this year, down from the 233 homes sold in 2022. This decrease was felt in all market segments, with the condo market experiencing the largest decrease, falling from 233 condos sold last year to 167 units in 2023. South Kohala’s decrease went from 174 single-family homes sold in 2022 to 134 homes sold this year. The decrease in single-family homes sold in North Kohala went from 59 homes sold last year to 41 homes sold in 2023.
Unlike the sales volume, the change in the September median sales price was a mixed bag. The 
median sale price for single-family homes in North Kohala experienced the only decrease, falling from $1,274,000 in September last year to $1,100,000 in September 2023. The South Kohala median sales price for single-family homes rose from $875,000 in September 2022 to $895,000 this year. The condo market median sale price rose as well, from $847,500 in September 2022 to $945,000 this year.
The year-to-date median sales price was also a mixed bag across the markets. Single-family homes in South Kohala experienced the smallest increase, rising 2.32% from $906,000 in 2022 to $927,000 this year. While in North Kohala, single-family home prices rose 8.91%, coming in at $1,100,000 this year. up from $1,010,000 in 2022. The South Kohala condo market saw the only price decrease, falling 12.27% from $1,100,000 last year to $965,000 in 2023.
Analysis: The Kohala Real Estate Update for September 2023 reveals that monthly sales in all segments have decreased slightly over September of last year. The year-to-date sales numbers are also down over the 2022 numbers, but even with the lower sales volume, prices have appreciated slightly in most markets.
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 2023 Highlights
- No. of single-family homes sold in North Kohala – 7
- No. of single-family homes sold in South Kohala – 13
- No. of condo units sold in Kohala – 19
- YTD No. of single-family homes sold in North Kohala – 41
- YTD No. of single-family homes sold in South Kohala – 134
- YTD No. of condo units sold in Kohala – 167
- Median sales price of a single-family home in North Kohala – $1,100,000
- Median sales price of a single-family home in South Kohala – $895,000
- Median sales price of a condo in Kohala – $945,000
- YTD median sales price of a single-family home in North Kohala – $1,100,000
- YTD median sales price of a single-family home in South Kohala – $927,000
- YTD median sales price of a condo in Kohala – $965,000
If you enjoyed this update, you may like Waikoloa Beach Resort Real Estate Update for Q3 2023.