The Kohala Real Estate Update for November 2023 is for the beautiful location on the west coast of the Big Island of Hawaii. We call it the Big Island 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 2023 was down moderately 
over November last year, with 17 homes selling in November 2022, while just 9 homes were sold this November. This decrease in sales volume happened in both North and South Kohala, with North Kohala falling from 5 homes sold last November and just 2 this November. In South Kohala, the volume fell from 12 homes sold last November, to 7 homes this November. The number of condos sold was also down slightly in November 2023, with 8 units selling this year, down from 9 units in November 2022.
As with the November monthly number, 
the year-to-date sales volume in 2023 is also way down from last year’s numbers. There were 269 homes sold by this time last year, while 207 homes have sold this year. This decrease happened in both parts of Kohala, with the number of single-family homes in North Kohala falling from 68 homes sold in 2022, to 45 sold homes this year, while South Kohala decreased from 201 homes last year to 162 homes sold in 2023. The number of condos sold year-to-date was also down, falling from 249 units sold in 2022, to 187 units sold this year.
Although the Kohala sales volume was down in November 2022 in all market segments, 
the median sales price was a mixed bag from market to market. The median sale price in North Kohala experienced a considerable increase, rising from $840,000 in November 2022 to $1,225,000 in November of this year. The South Kohala market experienced a small decrease, falling from $1,205,500 in November 2022 to $1,000,000 this November. The condo market also experienced a slight decrease, with the November median sales price falling from $1,217,000 in 2022 to $1,004,000 this year.
As with the monthly median sales price numbers, the year-to-date numbers in November 2023 were also a mixed bag. The year-to-date median sales price of single-family homes in North Kohala experienced the biggest increase, an impressive 13.02%, from $1,017,000 in 2022 to $1,150,000 this year. The median price of single-family homes in South Kohala had a smaller increase, rising 1.87% from $910,000 in 2022 to $927,000 this year, while the condo market experienced the only decrease, falling 10.65%, from $1,080,000 last year to $965,000 in 2023.
Analysis: The Kohala Real Estate Update for November reveals that the monthly sales volume numbers in Kohala this month are way down over the previous months of 2023, and the year-to-date numbers for 2023 are way down from 2022. This slowdown in sales has begun to affect sale prices, as the median sale price has been flat or declined in all markets but North Kohala.
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 2023 Highlights
- No. of single-family homes sold in North Kohala – 2
- No. of single-family homes sold in South Kohala – 7
- No. of condo units sold in South Kohala – 8
- YTD No. of single-family homes sold in North Kohala – 45
- YTD No. of single-family homes sold in South Kohala – 162
- YTD No. of condo units sold in South Kohala – 187
- Median sales price of a single-family home in North Kohala – $1,225,000
- Median sales price of a single-family home in South Kohala – $1,00,000
- Median sales price of a condo in South Kohala – $1,004,000
- YTD median sales price of a single-family home in North Kohala – $1,150,000
- YTD median sales price of a single-family home in South Kohala – $927,000
- YTD median sales price of a condo in South Kohala – $965,000
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