As in other Hawaiʻi and mainland real estate markets, the North Kohala market is lacking in inventory in the lower price ranges, and that is extending quickly upward. There are only three homes listed in North Kohala in the $1-1.5 million range. One of them is actually the Kohala Club Hotel featured in my earlier post and the other two are in the gated community of Kohala by the Sea.
VIEW is the #1 criteria of luxury real estate buyers in Kohala…ocean, sunset, coastline, Maui views. (MLS 603687)
From $1 – 1.5 million is a popular price point in this area, with 7 sales this year, split between gated and non-gated communities in North Kohala. On the other hand, only two estates have sold for over $2 million, compared with 14 active listings for multi-million homes from Kawaihae north and around the corner to Hawi and Kapaʻau.
Economics 101 would suggest there is upward pressure for homes valued in the low $1 million range, and downward pressure at the top of the real estate market in North Kohala… an opportunity for the multi-million home buyer!
Million Dollar + Homes in Kohala excluding Kawaihae communities
The over $1 million real estate buyers who look in upper North Kohala enjoy the rural, small town, diverse cultural mix of Hawi and Kapaʻau. Some are looking to farm or own horses, and most of Kohala is zoned for agriculture.
This new listing at Puakea Bay Ranch has 4,968 sq ft, 4 bedrooms and 10 acres. Built in 2007. Asking $2,880,000 (MLS 611760)
There are seven residential properties listed over $1 million from Puakea to Niuliʻi. Four of these are in the gated community of Puakea Bay Ranch, which typically has 10-acre lots and homes around 5,000 sq. ft. These four ocean — sunset — Maui view homes are listed at asking prices from $1,890,000 (MLS 291772) to $2,880,000 (MLS 611760).
The two homes on larger acreages were featured in my blog post about ocean view estates on large acreage.
Homes for Sale in Lower North Kohala Gated Communities
The lower North Kohala gated communities, just north of Kawaihae, are generally viewed by real estate buyers as an extension of the Kohala Coast resorts, since they share the same dry, sunny climate. Homeowners value the CC&Rs and architectural review process establishing a consistent design sensibility for the community.
Kohala Ranch home just listed for sale: 4,000 sq ft on five acres with pool and ocean views, asking $2,650,000 (MLS 611812)
For a complete list of homes for sale in North Kohala and along the Kohala Coast, feel free to contact me directly.
A hui hou,
Beth Thoma Robinson R(B)