Kohala Ranch 2024 Mid-Year Market Recap and Sales Information Breakdown

As a courtesy to current and prospective Kohala Ranch homeowners, I am pleased to present the 2024 Mid-Year Kohala Ranch market recap and sales information breakdown.

Before looking back at the Kohala Ranch real estate market in the first half of this year, I would like to share some interesting information regarding construction and development activity within Kohala Ranch. According to the community management company, there are about 89 homes under construction, about to start construction, or having improvements made in the Kohala Ranch.  Of the 520 total lots in Kohala Ranch, 212 lots (or 41%) have now been developed.

In the first half of 2024 there was a total of 6 residential sales within Kohala Ranch which represents a 20% increase compared to the 5 closed residential transactions in the first half of 2023. For vacant land, there were 11 sales recorded in the first half of 2024. That is a 22% increase compared to the 9 vacant lots sold in Q1-Q2 of of 2023.

Furthermore, there was approximately $16 Million in sales volume recorded within Kohala Ranch in Q1-Q2 of 2024 which represents a 11% decrease compared to the $18 Million in sales recorded in the first half of 2023, and a 53% decrease compared to the $34 Million in sales recorded in the first half of 2022.

To gain an accurate understanding of the current state and future direction of Hawai‘i’s high end residential market, it is important to broaden ones perspective beyond the mid-2020 to mid-2022 period when our local real estate market experienced a historic surge in demand and prices. Analyzing data from the past decade is crucial. Currently, average sales prices in the District of North Kohala are approximately 76% higher compared to the last decade (2010-2020) and roughly 101% higher than average sales prices from 2000-2010. Additionally, it is noteworthy that during the first half of this year, there were 9 sales in the District of North Kohala that exceeded $2 million, a number that ties or surpasses Q1–Q2 sales over $2 million in 13 of the last 15 years.

Although the first half of this year saw a slight decrease in average prices and overall sales volume within Kohala Ranch compared to the last couple of years, we did see increases to both the number of residential and land sales compared to last year, as previously noted.

Please find below a summary of the sales data for your reference:

Kohala Ranch 2024 Q1 – Q2 Statistics

Kohala Ranch Residential Sales:

2024 Q1 & Q2: 6 Sales      (20% Increase Year-Over-Year)
2023 Q1 & Q2:   5 Sales
2022 Q1 & Q2:   9 Sales     
2021  Q1 & Q2:  14 Sales
2020 Q1 & Q2:  5 Sales
2019  Q1 & Q2:  10 Sales

Kohala Ranch Land Sales:

2024 Q-1 & Q2: 11 Sales   (22% Increase Year-Over-Year)                              

2023 Q1 & Q2:    9 Sales
2022 Q1 & Q2:   23 Sales     
2021  Q1 & Q2:   40 Sales
2020 Q1 & Q2:    11 Sales
2019  Q1 & Q2:     9 Sales

Average Residential Sales Price:

2024 Q1& Q2:  $1.99M     (29% Decrease Year-Over-Year)                               

2023 Q1 & Q2:   $2.79M
2022 Q1 & Q2:   $2.73M
2021  Q1 & Q2:   $2.08M
2020 Q1 & Q2:   $1.95M
2019  Q1 & Q2:   $1.75M

Average Vacant Land Sales Price:

2024 Q1 & Q2:  $413K      (.25% Decrease Year-Over-Year)                               

2023 Q1 & Q2:   $414K
2022 Q1 & Q2:   $427K
2021  Q1 & Q2:   $295K
2020 Q1 & Q2:   $213K
2019  Q1 & Q2:   $211K

Kohala Ranch Total Sales Volume:

2024 Q1 & Q2:  $16M         (11% Decrease Year-Over-Year)                               

2023 Q1 & Q2:    $18M
2022 Q1 & Q2:    $34M   
2021  Q1 & Q2:    $40M
2020 Q1 & Q2:    $12M
2019  Q1 & Q2:    $19M

Our team’s inventory of available properties is historically low. As we progress through the second half of 2024 there is need for additional inventory in the Kohala Coast market segment. Of the 212 homes in Kohala Ranch, there are only six (6) homes currently available for sale. The current lack of inventory is sure to create a demand for owners who may be considering selling.

If you have considered selling, or would like to explore that option, this is an opportune time to take advantage of a strong market. If you have any questions about recently sold properties or if you are curious about the value of your property, I’m here to be of assistance. As Hawai’i Island’s real estate market continues to evolve, feel free to contact me with any of your real estate questions. I look forward to continuing to provide you with the highest level of personalized real estate services tailored to your needs.

Below please find detailed data of the 2024 Q1-Q2 sales categorized by the coastal Heathers section, the middle Meadows section, and the elevated Summit section. I hope you find this information interesting and helpful.

2024 Q1-Q2 Residential Sales Breakdown:

(Click Here) to view the details of the three (3) sales that recorded in the Heathers section (Lower Coastal Section approx. 200 ft – 1,000 ft elevation, 3-5 Acre Parcels).

(Click Here) to view a detailed list of the two (2) sales in the Meadows section (Middle Section approx. 1,200 ft – 2,000 ft elevation, 3-5 Acre Parcels).

(Click Here) to view a details of the one (1) sale in the Summit section (Upper Ranch Section approx. 2,000 ft – 3,000 ft elevation, 10+ Acre Parcels).

For a Complete List of Residential Properties Currently Available within Kohala Ranch (Click Here).

For a Complete List of Vacant Land Properties Currently Available Within Kohala Ranch (Click Here).

Team Track Record & Success Stories:

Our team proudly serves the entire Kona-Kohala Coast. Over the past decade, Hawaii Life Real Estate Brokers has led the market in North Kohala, closing more transactions and achieving higher sales volumes than any other brokerage firm.

Since the beginning of 2020, our team has sold over $175 million in North Kohala, outperforming the closest competitor by nearly 40%.

During this same period, I have personally sold 24 properties and represented Buyers & Sellers in 35 total sides of business within Kohala Ranch, which is more than any other Realtor. I have sold $32M in volume, which is 33% more than the closest competing Realtor. Performance based on results, not promises.

Our team has been extremely active within Kohala Ranch over the past several years and we continue to have a large share of the listings and sales within the community. The Kohala Coast is our home. This is where we live, work, play, and serve our clients. Our expertise is the result of more than four decades of specialization in Kona-Kohala Coast real estate. Our team understands every feature, benefit and offering at each resort and community along the coast.

Our area knowledge and long-term perspective are enhanced by the unrivaled statewide network, global affiliations, brand recognition, and digital platforms of Hawai‘i Life, making us the brokerage firm for all your Kona-Kohala Coast needs. With 350+ agents and now 24 offices statewide, Hawai’i Life is the exclusive statewide affiliate of Forbes Global Properties and an affiliate of Luxury Portfolio International®. Both networks serve top-tier markets around the world, adding tremendous reach and exposure for our clients. We invite you to consult our team of highly talented professionals, who service all sectors of the real estate market, including oceanfront, resort, ranch, single-family, condominium and vacant land properties.

(Click Here) to read my Kohala Coast “Success Stories” testimonials. If you have specific needs with which I might be able to assist you, please do not hesitate to call or email.