Real estate sales in North Kohala (around the towns of Hawi and Kapaau) slowed briefly after the first-time buyer tax credit expired at the end of April. However, looking at the month of August, the lower (under $450,000) end of the market is picking up again!
In raw land, it seems everyone wants a parcel of 3-5 acres. One sale closed for $285,000 (right on busy Kynnersley Rd with a touch of ocean view); two are in escrow with asking prices of $345,000 and $499,000.
In residential property, there are three short sales and one REO (foreclosed home) with offers. For the first time or retirement buyer who does not want the uncertainty of a short sale, nor want to worry about "as is" property and the hassle of renovation, there are only a few options among the remaining 14 listings below $450,000. At the top of the list would be this darling remodeled plantation-era 3-bedroom home with ocean and mountain view from the new back deck, listed for $319,000:
Completely renovated planation-era home in Kapaau is a best-buy at $319,000
A hui hou,
Beth
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