The Kohala Real Estate Update for June 2024 is for the magnificent area located on the west coast of the Big Island of Hawaii. The Big Island received its name to differentiate it between the State of Hawaii and the Island of Hawaii. The Kohala Coast is split into two areas, North Kohala and South Kohala, with North Kohala covering the more rural northern end of the island, 
containing the small towns of Hawi, Kapa’au and the Kohala Ranch communities.
South Kohala, beginning just south of Kohala Ranch, covers the major, world class resorts of Mauna Kea, Mauna Lani, and Waikoloa Beach Resorts’, the small town of Waikoloa Village, located 6 miles inland from the resorts and Waimea, the beautiful town in the interior Waimea Valley. You can find real estate updates for many of these areas by visiting the Market Updates Page on my website.
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The sales volume of single-family homes on the Kohala Coast in June 2024 decreased moderately over the volume of last June, 
with 14 homes selling in June this year, down from 21 homes selling last June. This decrease in sales happened in both parts of Kohala, with North Kohala seeing just 2 homes sold this June, down slightly from the 5 homes sold in June 2023, and South Kohala decreased from 16 homes sold in June 2023 to 12 homes this June.
The number of condos sold in June 2024 had a dramatic decrease over last June, with just 9 units being sold this June, down from 31 units last June. The decrease in the June sales volume does not reflect the year-to-date numbers. There have been 121 single-family homes sold so far this year, a slight increase from the 109 homes sold by this time in 2023, with different Kohala markets having different results.
North Kohala has seen 36 homes sold so far this year, up from 21 homes sold in 2023 while in South Kohala the sales volume decreased by just 3 homes,
with 85 homes selling this year, down from the 88 sold in 2023. The number of condos sold year-to-date also experienced a decrease, with 110 units selling this year, down slightly from the 113 units sold in 2023.
Although there was a drop in the sales volume of Kohala single-family homes in June, the median sales price change was mixed. The median price of North Kohala single-family homes experienced the only increase, rising from $689,000 in June 2023 to $1,285,000 in June of this year. This kind of dramatic change can sometimes happen in a low sales volume area.
South Kohala saw the median sales price fall to $987,000 this June from $1,085,000 in June 2023. 
The condo market also saw a decrease, with the median price falling from $944,500 in June 2023 to $575,000 in June of this year.
Despite the mixed bag in the monthly numbers, the year-to-date median sales price was positive in all the Kohala markets. The year-to-date median price of single-family homes in North Kohala had the smallest rise, rising from $1,150,000 in 2023 to $1,197,000 this year, a rise of 4.13%.
South Kohala experienced a bigger increase, with its median price rising 13.27%, from $927,000 in 2023 to $1,050,000 this year, while the condo market had the biggest increase, rising 13.87%, from $944,000 in 2023 to $1,075,000 this year.
Analysis: The Kohala Real Estate Update for June 2024 reveals that the monthly sales volume of single-family homes has fallen slightly while condo sales have fallen drastically over last June, causing the year-to-date numbers to lag last year’s sales volume. While the monthly median sales price numbers were a mixed bag, the year-to-date sales price is still positive over last year.
If you are thinking of buying or selling a home anywhere on the Kohala Coast, contact me today, I will produce a customized market report for the neighborhood or area you are interested in. Mahalo.
Kohala Real Estate Update for June 2024 Highlights
- No. of single-family homes sold in North Kohala – 2
- No. of single-family homes sold in South Kohala – 12
- No. of condo units sold in South Kohala – 9
- YTD No. of single-family homes sold in North Kohala – 36
- YTD No. of single-family homes sold in South Kohala – 85
- YTD No. of condo units sold in South Kohala – 110
- Median sales price of a single-family home in North Kohala – $1,285,000
- Median sales price of a single-family home in South Kohala – $987,000
- Median sales price of a condo in South Kohala – $575,000
- YTD median sales price of a single-family home in North Kohala – $1,197,000
- YTD median sales price of a single-family home in South Kohala – $1,050,000
- YTD median sales price of a condo in South Kohala – $1,075,000
If you enjoyed this update, you may like the Mauna Lani Resort Real Estate Update for Q2 2024.