The Kohala Real Estate Update for October is for the majestic area located on the west coast of the Big Island of Hawaii. The Big Island received its name to differentiate it between the State of Hawaii and the Island of Hawaii. The Kohala Coast is made up of two regions, 
North Kohala and South Kohala, with North Kohala covering the more rural, northern end of the island, including the small towns of Hawi and Kapa’au, as well as the Kohala Ranch communities farther south.
South Kohala, which begins just south of Kohala Ranch, covers the 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 October 2024 on the Kohala Coast decreased slightly from last October, 
with 18 homes sold this October, down from 23 homes in October 2023. That decrease only happened in South Kohala, where 15 single-family homes were sold, down from 21 homes last year, while 3 homes were sold in North Kohala, up from 2 homes last October. The condo market experienced no change over last year, with 12 units selling in October 2023 and October this year.
Along with the decrease in monthly sales volume in October, the year-to-date sales volume on the Kohala Coast is also down from the 2023 numbers.
There have been 188 single-family homes sold so far this year, down slightly from the 198 homes sold by this time in 2023.
The single-family homes sales volume in North Kohala rose from 33 homes sold year-to-date last year to 51 homes this year, while South Kohala’s sales volume of homes fell from 155 homes in 2023 to 136 homes sold so far this year. Condos units sold year-to-date also had a small decrease, falling to 158 units sold this year from 179 units sold in 2023.
Along with the decrease in sales volume in October, the median sales price in October over last year was also down in all the markets, except with condos. 
The median sale price in North Kohala experienced the largest decrease, falling from $2,412,000 in October 2023 to an amazing $778,000 this October. This is common when the sales volume is so low.
The fall in the South Kohala median sales price in October was less dramatic, falling to $879,000 this year from $920,000 in October 2023. The condo market median sales price experienced the only increase, rising from $799,000 in October 2023 to $1,147,500 this year.
Like the monthly numbers of October’s median sales price, the year-to-date numbers also had mixed results. Single-family homes in North Kohala saw the only decrease, falling 15.65% from $1,150,000 in 2023 to $970,000 this year, while the single-family homes in South Kohala went in the other direction, rising 13.64%, from $924,000 in 2023 to $1,050,000 this year. The condo market experienced a similar increase in its year-to-date sales price, rising 11.98%, from $960,000 in 2023 to $1,075,000 this year.
Analysis: The Kohala Real Estate Update for October reveals that the monthly sales volumes continue to be lower each month, with the year-to-date sale volumes for 2024 falling behind those of 2023. But even with the monthly sales prices decreasing in October, the year-to-date median sale price, for the most part, continues to increase.
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 October 2024 Highlights
- No. of single-family homes sold in North Kohala – 3
- No. of single-family homes sold in South Kohala – 15
- No. of condo units sold in Kohala – 12
- YTD No. of single-family homes sold in North Kohala – 51
- YTD No. of single-family homes sold in South Kohala – 136
- YTD No. of condo units sold in South Kohala – 158
- Median sales price of a single-family home in North Kohala – $778,000
- Median sales price of a single-family home in South Kohala – $879,000
- Median sales price of a condo in South Kohala – $1,147,500
- 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 – $1,050,000
- YTD median sales price of a condo in South Kohala – $1,075,000
If you enjoyed this update, you may like Mauna Lani Real Estate Update for Q3 2024.