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 2024 was up moderately over November last year, 
with 11 homes selling in November 2023, while 20 homes were sold this November. This increase in sales volume happened in both North and South Kohala, with North Kohala rising from just 2 homes sold last November to 4 homes this November. In South Kohala, the volume rose from 9 homes sold last November, to 16 homes this November. The number of condos sold was also up slightly in November 2024, with 12 units selling this year, up from 8 units in November 2022.
Even with the November monthly numbers all being positive, the year-to-date sales volume in 2024 was down slightly from last year. 
There were 209 homes sold by this time last year, while 207 homes have sold so far this year. This decrease was due to sales volume being down in South Kohala, as the number of single-family homes sold in North Kohala rose from 45 homes sold in 2023, to 55 sold homes this year, while South Kohala decreased from 164 homes last year to 152 homes sold in 2024. The number of condos sold year-to-date was also down, falling from 187 units sold in 2023, to 170 units sold this year.
As with the Kohala sales volume being down in November 2024 in most market segments, the median sales price was also down in most markets. The median sale price in North Kohala experienced a slight decrease,
falling from $1,225,000 in November 2023 to $1,217,000 in November of this year. The South Kohala market experienced a similar decrease, falling from $930,000 in November 2023 to $922,500 this November. The condo market experienced the only increase, with the November median sales price rising from $1,004,000 in 2023 to $1,347,500 this year.
As with the monthly median sales price numbers, the year-to-date numbers in November 2024 were also a mixed bag. The year-to-date median sales price of single-family homes in North Kohala experienced a 15.66% decrease, falling from $1,150,000 in 2023 to $970,000 this year. The median price of single-family homes in South Kohala went in the other direction, rising 10.84% from $927,000 in 2023 to $1,027,000 this year, while the condo market experienced the biggest increase, rising 13.01%, from $965,000 last year to $1,090,500 in 2024.
Analysis: The Kohala Real Estate Update for November reveals that the monthly sales volume of both condos and single-family homes has remained fairly steady for all of 2024 in Kohala, and the year-to-date numbers for 2024 are down slightly from 2023. This slight slowdown in sales has not negatively affected sale prices, as the year-to-date median sale price has risen 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 2024 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 – 12
- YTD No. of single-family homes sold in North Kohala – 55
- YTD No. of single-family homes sold in South Kohala – 152
- YTD No. of condo units sold in South Kohala – 170
- Median sales price of a single-family home in North Kohala – $1,217,000
- Median sales price of a single-family home in South Kohala – $922,500
- Median sales price of a condo in South Kohala – $1,347,000
- YTD median sales price of a single-family home in North Kohala – $970,000
- YTD median sales price of a single-family home in South Kohala – $1,027,000
- YTD median sales price of a condo in South Kohala – $1,090,000
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