North Kohala is the majestic area located at the northern tip of the Big Island of Hawaii. It is home to the two small towns of Hawi and Kapa’au. Hawi is most famous for being the bicycle turnaround point for the annual Ironman World Championship held each October, and its charming downtown area contains many small shops, and restaurants, including the famous Bamboo Restaurant. Hawi is also the 2nd Office location of 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 North Kohala 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 contains the gated communities of Kohala Ranch, containing many luxury homes with large lots, as well as many acreage 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 features panoramic ocean views.
At the time of this writing (June 1st), there were 48 homes for sale in the North Kohala area. There are no condos located in North Kohala, so there are no statistics on that market segment. Of these homes for sale, the highest priced one is the same one as last quarter and is listed at $9,995,000. It is located at 68-3083 Puakea Bay Dr in the Puakea Bay Ranch community. At the other end of the spectrum, the lowest priced home on the market is located at 53-3948A Hiwahiwa St, in the Ainakea Village subdivision, a quaint starter home listed with Hawaii Luxury Real Estate at the low price of $330,000.
Sales have remained pretty steady in North Kohala, with the Q1 time frame of January through March 2017 having 15 homes sold. The highest priced of these homes is located at 56-2908 Puakea Bay Dr, also in the Puakea Bay Ranch subdivision. It was listed at $1,498,000 and sold for $1,400,000. The lowest priced home to sell in North Kohala was listed at $206,600 and sold for $196,759. It is located at 53-4106 Akoni Pule Hwy in Kapa’au.
Analysis: With 48 homes on the market, and homes selling at a steady rate of 5 – 6 per month, there is still a lot of inventory to be absorbed. So at this rate, we will continue to be in a Buyer’s Market for the foreseeable future.
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.
Highlights of the North Kohala Q1 Market Update
- Number of Homes currently for sale – 48
- Highest priced home currently for sale – $9,995,000 – 56-3083 Puakea Bay Dr, Puakea Bay Ranch
- Lowest priced home currently for sale – $250,000 - 53-4047 Kolonahe St, Kapaau
- Number of homes sold in Q1 (Jan – Mar) – 15
- Highest priced home sold in Q1 – 56-2908 Puakea Bay Dr, Puakea Bay Ranch
- Lowest priced home sold in Q1 – $196,759 - 53-4106 Akoni Pule Hwy, Kapaau
If you enjoyed this update, you may like Kohala Real Estate Market Update for April 2017
First published at www.ViewHawaiiLuxuryHomes.com/MarketUpdates