While a large part of the island has seen double digit increases in the median price for vacant land sales, North Kona has seen a significant drop in price and the number of sales for 2019 over 2018. Some are blaming the high cost to build here now, others on the lack of availability of good, licensed contractors, and of course we have the aftermath of last years Volcano! Lets start out real quick with a reminder from last year, that West Hawaii real estate sales were the hardest hit when the the volcano was active, over 30% worse than the very area that the lava was flowing, interestingly enough, Puna and Kona are about <29%> drop in "closed" sales this year.
Here is a quick breakdown on Island wide real estate sales.
A little bit about the author Lance Owens (RS) LUVA Real Estate. Lance has been a full time licensed Realtor in West Hawaii for 15 years, has seen market fluctuate and knows local laws and regulations.