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, Kapa'au also contains a downtown area with small 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 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 large lots where you can build your own Hawaiian dream home.
At the time of this writing (Sept 15th), there were 40 homes for sale in the North Kohala area and 13 homes in escrow. There are no condos located in North Kohala, but raw land lots are plentiful. There are currently 111 land lots for sale and 2 lots in escrow. Of the homes for sale, the highest priced one is listed at $9,270,000, and is located at 57-1719 Kohala Mtn Rd in Hawi. At the other end of the spectrum, the lowest priced home on the market is located at 52-4230 Akoni Pule Hwy in Kapa’au, and is listed at the low price of $230,000. The highest priced lot for sale is a 498-acre lot in Honomakua Subdivision and is priced at $18,500,000, while the lowest priced is a 3.59-acre lot in Kohala Ranch priced at $159,000;
Sales in the Q3 time frame of July through September 2017 were down significantly over the past few quarters. There were just 11 homes sold in North Kohala during this time. The highest priced home to sell is located at 59-11215 Maki Way, in the Kohala Ranch subdivision. It was listed at $1,795,000 and sold for $1,430,000. The lowest priced home to sell in North Kohala was listed at $275,000 and sold for $180,000. It is located at 55-478 Hawi Rd, just north of Downtown Hawi.
n the North Kohala raw land market, there were 6 lots sold in Q3. The highest priced lot was 33 acres that sold for $750,000 from a list price of the same amount. The lowest priced lot to sell was on Maki Way in Kohala Ranch. It was a 3.25-acre lot that sold for $220,000 from a list price of $250,000.
Analysis: After a huge jump in single family home sales in Q2, North Kohala experienced a considerable drop in sales in Q3. Even with inventories remaining at lower levels than earlier this year, North Kohala continues to be a Buyer’s Market in both the single-family home and raw land segments.
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 my Market Update Page. Mahalo.
Highlights of the North Kohala 2017 Q3 Market Update
- Number of Homes currently for sale – 40
- Number of homes currently in escrow – 13
- Number of land lots for sale – 111
- Number of land lots in escrow - 2
- Highest priced home for sale – $9,270,000 - 57-1719 Kohala Mtn Rd,
- Lowest priced home for sale – $300,000 - 52-4230 Akoni Pule
- Highest priced land lot for sale - $18,500,000 - 498 Acres, Honomakua Subd
- Lowest priced land lot for sale - $159,000 - 3.56 acres. Kohala Ranch
- Number of homes sold in Q3 (July – Sept) -10
- Number of land lots sold in Q3 (July – Sept) - 6
- Highest priced home sold in Q3 – $1,430,000 59-1215 Maki Way, Kohala Ranch
- Lowest priced home sold in Q3 – $180,000 - 55-478 Hawi Rd, Hawi
- Highest priced land lot sold in Q3 - $750,000 - 35 Acres, North Kohala
- Lowest priced land lot sold in Q3 - $220,000 – 3.25 Acres, Maki Way, Kohala Ranch
If you enjoyed this update, you may like Waikoloa Village Real Estate Update for Q3 2017.
First published at www.viewhawaiiluxuryhomes.com/MarketUpdates