The Kohala Real Estate Update for July 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 and Kapa’au, as well as the Kohala Ranch communities on the south end.
South Kohala begins just south of Kohala Ranch and contains the world class resorts of Mauna Kea, Mauna Lani and Waikoloa Beach Resort’s, 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 market updates for many of these areas by visiting the Market Update Page on my website.
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The overall number of single-family homes sold in Kohala in July 2024 is up slightly over last July, with 22 homes selling this July, up from 20 homes last July. 
This sales volume increase was not felt in all the South and North Kohala markets.The South Kohala market increased from 14 single-family homes sold in July 2023 to 17 homes this July, while in North Kohala, the number of homes sold fell from 6 homes last July, to 5 homes this July.
The condos sales volume in July also saw a decrease, falling from 18 units sold last July to 12 units in July of this year. The increase in the monthly sales volume of single-family homes may have been a mixed bag, but the year-to-date numbers were all up or remained the same. There have been 143 single-family homes sold so far this year, up from the 129 homes sold by this time in 2023.
The North Kohala year-to-date number has risen from 27 homes sold in 2023, to 41 homes sold this year, 
and the South Kohala sales volume was 102 single-family homes sold, the same number as 2023. The number of condos sold year-to-date also fell, with 122 units selling so far this year, down from the 131 units sold in 2023.
As with the sales volume being mostly upward, in July 2024 over last July, the median sales price was also mostly upward, with only condo median price falling. The median sale price in North Kohala increased from $772,500 in July 2023 to $850,500 in July of this year, while in South Kohala, the median sales price rose from $1,002,500 in July 2023 to $1,185,000 this July. The condo market experienced the only decrease, 
with the July 2024 median sales price falling to $1,067,000 from $1,312,500 in July 2023.
The year-to-date median sale prices were positive in every market in Kohala, with North Kohala’s median year-to-date sale price rising a small 4.29%, from $1,050,000 in 2023 to $1,095,500 this year. South Kohala also had an upward change, with its year-to-date sale price rising 13.28%, from $937,500 in 2023 to $1,062,000 this year, while the condo market rose 12.10%, from $959,000 in 2023 to $1,075,000 this year.
Analysis: The Kohala Real Estate Update for July 2024 reveals that the monthly sale volume of single-family homes has fluctuated throughout 2024, but the year-to-date numbers have stayed positive. The same can be said for the condo sales volume except the year-to-date numbers have drifted negatively in the last few months compared to 2023. Despite the monthly median sale prices fluctuations in July, the year-to-date prices of single-family homes seem to have stabilized, with only the condos prices down over 2023.
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 July 2024 Highlights
- No. of single-family homes sold in North Kohala – 5
- No. of single-family homes sold in South Kohala – 17
- No. of condo units sold in South Kohala – 12
- YTD No. of single-family homes sold in North Kohala – 41
- YTD No. of single-family homes sold in South Kohala – 102
- YTD No. of condo units sold in South Kohala – 122
- Median sales price of a single-family home in North Kohala – $850,000
- Median sales price of a single-family home in South Kohala – $1,185,000
- Median sales price of a condo in South Kohala – $1,067,000
- YTD median sales price of a single-family home in North Kohala – $1,095,500
- YTD median sales price of a single-family home in South Kohala – $1,062,000
- YTD median sales price of a condo in South Kohala – $1,075,000
If you enjoyed this update, you may like Mauna Kea Resort Market Update for Q2 2024.