The Kohala Real Estate Update for December 2024 is for the magnificent area located on the west coast of the Big Island of Hawaii. The Big Island received that name to differentiate it between the State of Hawaii and the Island of Hawaii.Kohala is split into two areas, North Kohala and South Kohala, 
with North Kohala covering the more rural northern end of the island, that includes the two small towns of Hawi and Kapa’au, as well as the Kohala Ranch communities at the southern end.
South Kohala, which begins 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 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 the value of your Kohala Coast Home. Discover how our Vacation Rental Management Program can save you $1000’s.
The number of single-family homes sold in Kohala in December 2024 increased marginally from December 2023, 
with 19 homes selling in this December, up from 11 homes in 2023. This rise in sales volume happened in both areas of Kohala. North Kohala rose from just 1 home sold to 5, while the South Kohala market rose from 10 homes in December 2023 to 14 homes this December. The condo market sales volume remained the same with 14 units selling in December of both years.
Like the monthly numbers, the 2024 year-to-date sales volume was also higher than 2023, although not in all markets, 
rising slightly from 220 single-family homes sold in 2023 to 227 homes this year. The number of single-family homes in North Kohala increased from 46 sold in 2023 to 60 in 2024, while South Kohala fell from 174 homes last year to 167 homes sold in 2024. The condo market also experienced a decrease, with year-to-date sales volume falling from 201 units sold in 2023, to 184 units this year.
As with the sales volume of single-family homes in December 2024, the median sales price was also up in both single-family home markets in Kohala over last December. 
The median sale price of single-family homes in South Kohala rose from $854,500 in December 2023 to $1,053,000 this December.
In North Kohala, the median sales price in December 2024 increased even higher, to $2,150,000 from $515,000 last December, although this steep rise was more to do with the low volume of sales than price appreciation. The condo market experienced the only decrease, with the December 2024 median sales price decreasing to $855,000 from $1,200,000 last December.
The 2024 year-to-date median sales price in Kohala rose in all markets, with condos in South Kohala rising 11.91% from $970,000 in 2023 to $1,085,000 this year. The single-family homes in South Kohala had an even larger increase, rising 12.45%, from $916,000 in 2023 to $1,030,000 in 2024. Meanwhile, the single-family home median sale price in North Kohala year-to-date had the smallest increase, rising just 2.00% from $1,125,000 in 2023 to $1,147,000 this year.
Analysis: The Kohala Real Estate Update for December reveals that the monthly sales volume of both single-family homes and condos was up in December compared to the last few months. The year-to-date sales volume has also increased in most markets. The median sale price of single-family homes and condos has risen slightly in all markets during 2024.
If you are thinking of buying or selling a home on the Kohala Coast, contact me today. I will produce a customized market report for the neighborhood or area you are interested in buying or selling in. Mahalo.
Kohala Real Estate Update for December 2024 Highlights
- No. of single-family homes sold in North Kohala – 5
- No. of single-family homes sold in South Kohala – 14
- No. of condo units sold in Kohala – 14
- YTD No. of single-family homes sold in North Kohala – 60
- YTD No. of single-family homes sold in South Kohala – 167
- YTD No. of condo units sold in South Kohala – 184
- Median sales price of a single-family home in North Kohala – $2,150,000
- Median sales price of a single-family home in South Kohala – $1,053,500
- Median sales price of a condo in South Kohala – $855,000
- YTD median sales price of a single-family home in North Kohala – $1,147,000 up 2.00%
- YTD median sales price of a single-family home in South Kohala – $1,030,000 up 12.45%
- YTD median sales price of a condo in South Kohala – $1,085,000 down 11.91%
If you enjoyed this update, you might enjoy Mauna Lani Resort Market Update for Q4 2024.