I am getting a lot of calls about the two five-acre lots I have listed in the Meadows II section of Kohala Ranch, and I just welcomed my buyers into a gorgeous home in the Heathers (that was also listed by Hawaiʻi Life). This continues to be a very active year for Kohala Ranch real estate. We still have a couple of months to go in 2024, but here is an update as snowbirds arrive and we head into the high season for visitors to Hawaiʻi.
My clients and I enjoyed a first sunset pau hana from the lanai and pool deck of their new home at Kohala Ranch. Soon they will be watching whales frolic as well!
Kohala Ranch Land Sales 2024 YTD Surpass the 2023 Sales
So far in 2024 there have been 15 sales of land in Kohala Ranch, at prices ranging from $300,000 to $640,000. There were only thirteen parcels sold in 2023, so already we have a stellar year for vacant land sales.
Meadows II is at the mid-level of Kohala Ranch, and all the way to the northern rim of the subdivision where your neighbors are cattle grazing on larger ranches
There are currently 25 vacant land parcels for sale at Kohala Ranch, ranging from three acres to 12 acres, and in price from $299,000 to $625,000, plus two smaller lots (under one acre) in Heathers II. Typically the most important factors in the price of a vacant lot are (1) view view view; and (2) ease of building. I like the “Goldilocks” climate of the middle Meadows section of the Ranch, and especially the larger 5-acre lots on the rim of the subdivision in Meadows II. This lot has an elevated building site; this one has super easy topography with multiple building site possibilities.
Home Sales at Kohala Ranch Down Slightly Year on Year
In 2023, there were eleven residential sales at Kohala Ranch, at prices ranging from $1,350,000 for a smaller older home with no pool, to $3,79o,000 for a home on desirable Pili Place in the lower Heathers section.
So far in 2024, we have seven closed sales and one in escrow, a slightly slower pace unless we have a last minute, Zenyatta-style surge from behind. However, the slower apparent pace of sales may actually represent a lack of inventory rather than a lack of buyer interest.
The 2024 sales cover the full range of elevations in the ranch, from the Heathers section with its resort-like climate, to the larger Summit properties at 2000-3000 feet above sea level. The median price is right around $1.9 million, but we are still seeing sales under $1.5 million and near $4 million for the most desirable homes.
| # | Lowest | Highest | Average | Median | |
|---|---|---|---|---|---|
| Listing Price | 8 | $1,480,000 | $3,995,000 | $2,253,000 | $1,962,500 |
| MLS Sale $ | 7 | $1,600,000 | $3,650,000 | $2,228,571.43 | $1,900,000 |
| DOM to sale | 7 | 0 | 227 | 79 | 10 |
| Sale/Current Price | 7 | 89.60% | 108.10% | 96.28% | 96.20% |
| Sale/Original Price | 7 | 73.40% | 108.10% | 90.79% | 91.30% |
| DOM (Active/Contingent) | 1 | 38 | 38 | 38 | 38 |
| Price per Land SqFt | 8 | $4 | $18 | $12 | $12 |
| Price per Bldg SqFt | 8 | $661 | $1,087 |
Homes Under Construction Listed for Sale at Kohala Ranch
Buy an existing home, buy a lot and build your dream home, or buy a home under construction – three options available at Kohala Ranch
Not sure whether to buy a vacant lot and build the exact home you want, or wait for the right residential property to come on the market at Kohala Ranch? There is a third option, one that saves you years of going through the Kohala Ranch Design Review Process and County permitting.
Of the six active residential listings at Kohala Ranch, two of them are actually homes under construction. This home listed for $4,995,000 is one of them. It is on one of the smaller lots, an acre in the Heathers II section. Another home listing has yet to have building plans approved by the County, but is asking $2,495,000. Besides selling pre-construction for a developer at Waikoloa Beach Resort back in the day, I more recently assisted a buyer acquire a partially built home at Mauna Lani Resort, and am currently representing a buyer pre-construction at Kohanaiki Resort. If this is of interest to you, letʻs talk pros and cons (and risks) versus buying vacant land or a finished home.
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