After two years of declining vacant land sales in the upper part of North Kohala from Puakea towards Pololu Valley, more land parcels were sold in 2017 than in 2016, and prices began to trend upward. (If you want to review my 2016 report, it is available here).
Two of three 20-acre lots listed at Puu Hue off Kohala Mountain Road are already sold (MLS 609265)
Kohala Land Sales Improve Modestly in 2017
A total of 19 parcels of vacant land changed hands in 2017, compared with 16 lots in 2016. The most affordable sale price was $180,000 for one of three lots sold in the new Hanaula Village subdivision, where a young local family is building their home.
Affordable lots and two new developer-built homes for sale in Hanaula Village Subdivision (MLS 613587)
Two sales were recorded of the lots for sale near Kapaʻau town mauka of Akoni Pule Highway along both sides of Waikalapala Gulch (“Hall Road Subdivision”). A parcel of almost 14 acres sold for $525,000 and one over 34 acres for $750,000. These have all utilities and ocean views, and similar parcels are available for purchase.
Two 10-acre lots sold within gated Puakea Bay Ranch, the oceanfront subdivision along Highway 270 before you reach Hawi driving from the Kohala Coast. The lot closer to the entrance sold for $357,500 and one down near the ocean for $850,000, in a perfect demonstration of what appraisers term “location premium.” Next door at Ranch at Puakea, a beautiful 20-acre lot sold for $885,000 in only 7 days on market.
Two 21-acre lots remain for sale at gated Ranch at Puakea with oceanfront access (MLS 605715)
Landmark Oceanfront Sale in Ainakea
The most important sale of land in 2017 was a total of over 247 acres makai of Ainakea subdivision including the oceanfront parcels, to a single buyer looking for a large legacy holding. This was greeted as good news for the community as it protects these historic lands from future subdivision or development. Hawaii Life represented one of the three sellers involved in the transaction.
Outlook for 2018 – Vacant Land Sales in Kohala
The new year began with six lots in escrow, including two of the three 20-acre parcels offered on Puu Hue Road, and an oceanfront parcel on Old Coastguard Road.
Prospective buyers of vacant land will find a wide selection in Kohala with 36 active listings priced from $195,000 to $18.5 million.
Many of the oceanfront parcels listed for sale in North Kohala are already approved for public purchase with County and/or State financing, continuing the community’s success at implementing the preservation goals in the North Kohala Community Development Plan. That makes almost-oceanfront land parcels increasingly valuable for the prospective buyer looking for the privacy and views.
The oceanfront at Kauhola Point “Lighthouse” was purchased by Trust for Public Lands; this photo taken from the boundary of an adjacent 117 acre parcel listed for $4.25 million (MLS 605628)
For more information about available parcels of vacant land in Kohala, feel free to contact me directly.
A hui hou,
Beth Thoma Robinson R(B)