The gated community of Kohala Ranch on the Big Islandʻs Kohala Coast is showing strong sales activity in 2018, with six homes sold and three in escrow. Only eight residences sold at Kohala Ranch in 2017, fewer than in the first half of 2018.
With showing activity continuing to be strong, 2018 sales could exceed the 14 residences sold in 2016.
Ocean, coastline and sunset views are one reason Kohala Ranch homes appeal to buyers (MLS 617259)
Kohala Ranch Sales Concentrated in Lower Heathers Section Year to Date
The Kohala Ranch Community extends from 200 feet above sea level to 3,000 feet above sea level. The lowest section of the subdivision is known as the Heathers, and features lots of 3-5 acres and a climate much like that of the Kohala Coast Resorts. Most homes in the Heathers have resort styling and swimming pools. Although Kohala Ranch has miles of equestrian trails encircling the community, you wonʻt find barns or horses in the hot, dry Heathers section.
Of the nine properties sold or in escrow so far this year, all but two are in the Heathers. Prices on sold homes range from $1,000,000 to $1,700,000.
Perhaps the biggest surprise was a bank-owned property sold at auction after foreclosure, in need of a total gut and remodel. It sold for $1,342,425 for 4,008 sq ft and seven bedrooms and the new owners were beginning work the day it closed.
Buyer preferences are clear in the pricing as the $1 million home had 3,966 sq ft and four bedrooms on 3.14 acres and on of the two home sold for $1.7 million had 3,245 sq ft, four bedrooms, and 3.56 acres. If not house size, lot size or number of bedrooms, what accounts for the difference?
Well designed outdoor living spaces are important in Kohala Ranch Heathers homes (MLS 603687)
The highest $/sq ft value goes to Kohala Ranch homes that are:
- Built 2005 on, with finishes that look “up to date”
- Impeccably maintained or restored
- Single story, conventional floor plan
- En suite bathrooms in each bedroom
- Indoor-outdoor living with ample lanai living space
- Good size pool, preferably heated
The good news for buyers is that if you donʻt care about some of the items on the list, or are willing to undertake renovations, you can create value, even in a market like todayʻs.
Advantages of Kohala Ranch Meadows and Summit Sections
For those of us who own horses, the upper elevations of Kohala Ranch are the place to be. The Meadows and Summit sections have milder temperatures year round, and the larger Summit lots have enough pasture to support a few horses just on grass. If you donʻt own horses, the additional rainfall will give you a greener lawn with less water consumption.
Views are even more expansive from the upper elevations of Kohala Ranch, with it not being unusual to see the summits of Mauna Kea, Mauna Loa, Hualalai and Haleakala across the channel.
The Meadows II section on the perimeter of the ranch for additional privacy and views (MLS 606336)
With 15 active listings at Kohala Ranch, several of them new in the past week, there is good inventory for buyers looking over our summer selling season.
Let me know if you want my opinion on which Kohala Ranch property (house or vacant lot) would be the best fit for you.