The Kohala Real Estate Update for September 2024 is for the beautiful area located on the west coast of the Big Island of Hawaii. The Big Island is called that to avoid the confusion 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 and Kapa’au, as well as the Kohala Ranch communities.
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.
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The number of single-family homes sold on the Kohala Coast in September 2024 decreased significantly over that of September 2023, 
with just 3 homes selling that month, down from the 20 homes sold last September. This decrease was felt in all the markets of Kohala. North Kohala had only one sale this September down from 7 homes sold in September 2023. The South Kohala sales volume decreased from 13 homes to just 2, while the condo markets decrease was less severe, falling from 19 units sold in September 2023 to 15 units this September.
With the monthly sales volumes of single-family homes on the Kohala Coast falling so drastically, 
the year-to-date volumes are almost all below last year’s numbers. There were 169 single-family homes sold so far this year, down from 175 homes sold in 2023. South Kohala’s decrease went from 134 single-family homes sold in 2023 to 121 homes sold this year. The North Kohala single-family homes sales volume was the only bright spot, rising from 41 homes sold last year to 48 homes sold in 2024. The condo market also experienced a decrease, falling from 167 condos sold last year to 146 units in 2024.
Despite the drop in monthly sales volume, the change in the September median sales price was mostly upward. 
The median sale price for single-family homes in North Kohala experienced the only decrease, falling from $1,100,000 in September last year to just $339,000 in September 2024. This was mainly due to just one home selling in September. The South Kohala median sales price for single-family homes rose from $895,000 in September 2023 to $1,082,500 this year. The condo market median sale price rose as well, from $945,000 in September 2023 to $1,065,000 this year.
The year-to-date median sales price mirrored the monthly numbers, with North Kohala experiencing the only decrease. Single-family homes in South Kohala experienced the largest increase, rising 14.89% from $927,000 in 2023 to $1,065,000 this year. The South Kohala condo market saw a smaller increase, rising 11.40% from $965,000 last year to $1,075,000 in 2024. In North Kohala, the single-family median home price fell 10.45%, coming in at $985,000 this year, down from $1,100,000 in 2023.
Analysis: The Kohala Real Estate Update for September 2024 reveals that monthly sales in single-family homes decreased significantly over September of last year. The year-to-date sales numbers are also down over the 2023 numbers, but even with the lower sales volume, prices appreciated in most 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 Coast Real Estate Update for September 2024 Highlights
- No. of single-family homes sold in North Kohala – 1
- No. of single-family homes sold in South Kohala – 2
- No. of condo units sold in Kohala – 15
- YTD No. of single-family homes sold in North Kohala – 48
- YTD No. of single-family homes sold in South Kohala – 121
- YTD No. of condo units sold in Kohala – 146
- Median sales price of a single-family home in North Kohala – $339,000
- Median sales price of a single-family home in South Kohala – $1,082,500
- Median sales price of a condo in Kohala – $1,065,000
- YTD median sales price of a single-family home in North Kohala – $985,000
- YTD median sales price of a single-family home in South Kohala – $1,065,000
- YTD median sales price of a condo in Kohala – $1,075,000
If you enjoyed this update, you may like Waikoloa Beach Resort Real Estate Update for Q3 2024.