The Kohala Real Estate Market Update for November 2022 is for the beautiful location on the west coast of the Big Island of Hawaii. We call it the Big Island as 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, containing the historic small towns of Hawi, Kapa’au, and the Kohala Ranch communities.
South Kohala begins just south of Kohala Ranch and contains 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.
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The number of single-family homes sold in Kohala in November 2022 was down considerably over November last year, with 27 homes selling in November 2021, while just 16 homes were sold this 
November. This decrease in sales volume only happened in South Kohala, while North Kohala remained the same at 4 homes sold in both Novembers. In South Kohala, the volume fell from the 23 homes sold last November, to 12 homes this November. The number of condos sold was also down considerably in November 2022, with just 9 units selling this year, compared to 27 units in November 2021.
As with the November monthly number of single-family homes sold, the overall year-to-date volume in 2022 is also way down from last year’s numbers. There were 383 homes sold by this time last year, while 268 homes have sold this year. This overall decrease happened in both parts of 
Kohala, with the number of single-family homes in North Kohala falling from 96 homes sold in 2021, to 67 sold homes this year, while South Kohala decreased from 287 homes last year to 201 homes sold in 2022. The number of condos sold year-to-date was also down, falling from 393 units sold in 2021, to 249 units sold this year.
Although the Kohala sales volume was down in November 2022 in all market segments, the median sales price experienced impressive gains in some markets. The median sale price in South Kohala experienced a moderate increase, rising from $865,000 in November 2021 to $1,205,000 in 
November of this year. The condo market experienced the biggest gain, with the November median sales price rising from $790,000 in 2021 to $1,217,000 this year. The North Kohala market experienced the smallest increase, rising from $624,000 in November 2021 to $689,500 this November.
As with the monthly median sales price numbers, the year-to-date numbers in November 2022 were also up in all markets. The year-to-date median sales price of single-family homes in South Kohala experienced the smallest increase, a still impressive 10.30%, from $825,000 in 2021 to $910,000 this year. The median price of single-family homes in North Kohala had a higher increase, rising 20.45% from $838,000 in 2021 to $1,010,000 this year, while the condo market experienced the biggest increase, rising an amazing 38.46%, from $780,000 last year to $1,080,000 in 2022.
Analysis: The Kohala Real Estate Market Update for November shows us that like most of 2022, the monthly sales volume numbers in Kohala are way down over last year. This slowdown in sales has not affected sale prices though, as the median sale price is up in all markets.
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 November 2022 Highlights
- No. of single-family homes sold in North Kohala – 4
- No. of single-family homes sold in South Kohala – 16
- No. of condo units sold in South Kohala – 9
- YTD No. of single-family homes sold in North Kohala – 67
- YTD No. of single-family homes sold in South Kohala – 201
- YTD No. of condo units sold in South Kohala – 249
- Median sales price of a single-family home in North Kohala – $689,500
- Median sales price of a single-family home in South Kohala – $1,205,000
- Median sales price of a condo in South Kohala – $1,217,000
- YTD median sales price of a single-family home in North Kohala – $1,010,000
- YTD median sales price of a single-family home in South Kohala – $910,000
- YTD median sales price of a condo in South Kohala – $1,080,000
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