The North Kohala Market Update for Q1 2021 is for the majestic area located at the northern tip of the Big Island of Hawaii and the home to the two small towns of Hawi and Kapa’au. Hawi is most famous for being the turnaround point for the bicycle portion of the annual Ironman World Championship held in October, and its charming downtown area contains many small shops, and restaurants, including the famous Bamboo Restaurant. Hawi is also the 2nd Office location for Hawaii Luxury Real Estate.
The other small town, Kapaa’u, also contains a small downtown area with assorted shops and cafes and is home to the original King Kamehama I Statue. A little farther south down the coast is where the gated, upscale communities of Kohala Ranch, Kohala By-the-Sea and Kohala Waterfront are located.
North Kohala contains miles of pastoral, undeveloped land, as well as a variety of beautiful homes, from small starter homes to large estates, many with stunning ocean views. The southern end of North Kohala is where the gated communities of Kohala Ranch are located, containing many luxury homes with large lots, as well as many acreages lots where you can build your own Hawaiian dream home. The most alluring character of the Kohala Ranch area is that virtually every home and lot feature panoramic ocean views.
At the time of this writing (May 30th), there were 15 single-family homes for sale in North Kohala, with 13 homes in escrow. There are also 50 land lots for sale, with 27 of them in escrow. There are no condos located in North Kohala, so statistics for that market segment do not exist.
Of the homes for sale in North Kohala, the highest priced one is a listed at $4,400,000 and is located at 59-110 Pakuikui Pl, in the Kohala Waterfront community. For you bargain hunters, the lowest priced home on the market is located at 54-2438 Kynnersley Rd in Kapa’au and is listed at the low price of $284,000.
In the land lot market segment, the highest priced lot currently for sale in North Kohala is an enormous 457-acre parcel located on Lokai Rd in Kapa’au and is listed at a cool $14,800,000. At the other end of the spectrum, the lot with the lowest price is listed at $190,000 and is a 4.57-acre plot in Kohala Ranch.
Sales have surged in North Kohala during the Q1 time frame between January and March 2021, with 34 single-family homes being sold. The highest priced of the homes sold is located at 52-244 Niulii Pl, in Kapa’au and it sold for $4,150,000, from list price of $4,850,000. The lowest priced home to sell in North Kohala went for $252,000 from a list price of $230,000. It is located at 54-428 Honomakau Rd, also in Kapa’au.
In the land market segment, there was an incredible 28 lots sold in Q1 of 2021 in North Kohala. The highest price lot sold for $1,085,000 from a list price of $1,250,000 and is a 42.4-acre parcel located at 55-290 Hoea Rd in Hawi. The lowest priced lot to sell in Q1 is a 3.07-acre lot in Kohala Ranch and it sold for $158,000 from a list price of $159,000.
Analysis: The North Kohala Market Update for Q1 2021 shows us that the sales volumes of single-family homes and land lots are up substantially, which is like what we have seen in other markets on the Kohala Coast. Inventory level of homes and lots are also down substantially, but because the inventory was high to begin with, North Kohala is not yet in the ultra-low inventory levels we have seen in other markets.
If you are looking to buy or sell a home in the North Kohala area, or anywhere on the Kohala Coast, contact me today. I will help make your Hawaiian Real Estate dreams a reality. You can read market updates of other areas on the Kohala Coast on the Market Update Page of my website.
North Kohala Market Update for Q1 2021 Highlights
- Number of homes currently for sale – 15
- Number of homes currently in escrow – 13
- Number of land lots for sale – 50
- Number of land lots in escrow – 27
- Highest priced home currently for sale – $4,400,000 – 59-110 Pakuikui Pl., Kohala Waterfront
- Lowest priced home currently for sale – $284,000 – 54-2438 Kynnersley Rd, Kapaau
- Highest priced land lot for sale – $14,800,000 – 457 acres, Lokai Rd, Hawi
- Lowest priced land lot for sale – $190,000 – 4.57 acres, Kohala Ranch
- Number of homes sold in Q1 (Jan – Mar) – 34
- Number of land lots sold in Q1 (Jan – Mar) – 28
- Highest priced home sold in Q1 – $4,150,000 – 52-244 Niulii Pl, Kapaau
- Lowest priced home sold in Q1 – $252,000 – 54-428 Honomakau Rd, Kapaau
- Highest priced land lot sold in Q1 – $1,058,000 – 42.4 acres, 55-290 Hoea Rd, Hawi
- Lowest priced land lot sold in Q1 – $158,000 – 3.07 acres Kohala Ranch
If you enjoyed this update, you may like Kohala Market Update for April 2021.