The Kohala Real Estate Update is for the spectacular area located on the west coast of the Big Island of Hawaii. The Big Island got 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.
South Kohala begins just south of Kohala Ranch and 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 market updates for many of these areas by visiting the Market Update Page on my website.
View all Homes for Sale on the Kohala Coast. Instantly find out what your Kohala Coast Home is worth. Discover how our Vacation Rental Management Program can save you $1,000’s.
The number of single-family homes sold in Kohala in August 2023 increased slightly over last August, 
with 26 homes selling in August this year, up from 21 homes selling in August 2022. This increase was felt in all Kohala markets, with the volume in North Kohala rising from 2 homes sold in August 2022 to 7 homes this year, while South Kohala’s August 2023 number rose to 19 single-family homes sold from 18 homes last August. The number of condos sold in August 2023 also went up, rising from 10 units sold last August, to 17 units sold this year.
Although the monthly numbers for August were all up, the year-to-date numbers for 2023 are still far behind the 2022 numbers. 
There were 155 single-family homes sold so far this year in Kohala, down from the 216 homes sold by this time in 2022. This decrease was in all markets of Kohala, with the number of single-family homes sold in North Kohala decreasing from 57 homes in 2022 to 34 homes this year.
The volume in South Kohala fell from 159 single-family homes sold last year to 121 homes this year. The year-to-date number of condos sold had the largest decrease, falling from 219 units sold last year, to 148 units in 2023.
Except for South Kohala single-family homes, the median sales price was up in all market 
segments in August. The median sale price in North Kohala rose from $425,000 in August 2022 to a whopping $1,395,000 in August of this year, while in South Kohala, the median sales price fell, decreasing from $1,062,000 in August 2022 to $750,000 in August this year. The median sales price in the condo market also had a big increase, with the August 2023 sales price rising to $990,000 from $692,500 in August 2022.
Like the monthly numbers, the year-to-date numbers were a mixed bag. The year-to-date median 
sales price for condos in South Kohala experienced the only decrease, falling 11.59% from $1,100,000 in 2022 to $972,500 this year.
The single-family home markets in both North and South Kohala experienced an increase in the year-to-date median sales price. North Kohala had the biggest increase, rising 8.91% from $1,010,000 in 2022 to $1,100,000 this year. South Kohala’s increase was smaller, rising 2.42%, from $908,000 in 2022 to $920,000 this year.\
Analysis: The Kohala Real Estate Update for August reveals that although the monthly sales volume for the Kohala Coast was up over last August, the year-to-date numbers are down across the board. The wild fluctuations in both the monthly and year-to-date median sales price seem to be caused more by the low sales volume than an actual change in prices.
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. To view more real estate updates from different areas of the Kohala Coast, visit the Market Update Page on my website. Mahalo.
Kohala Real Estate Market Highlights for August 2023
- No. of single-family homes sold in North Kohala – 7
- No. of single-family homes sold in South Kohala – 19
- No. of condo units sold in South Kohala – 17
- YTD No. of single-family homes sold in North Kohala – 34
- YTD No. of single-family homes sold in South Kohala – 121
- YTD No. of condo units sold in South Kohala – 148
- Median sales price of a single-family home in North Kohala – $1,395,000
- Median sales price of a single-family home in South Kohala – $750,000
- Median sales price of a condo in South Kohala – $990,000
- YTD median sales price of a single-family home in North Kohala – $1,100,000
- YTD median sales price of a single-family home in South Kohala – $930,000
- YTD median sales price of a condo in South Kohala – $972,500
If you enjoyed this update, you might like Waikoloa Village Market Update for Q2 2023.