“But what about Kohala Waterfront, Kohala by the Sea and Kohala Estates?” was the cry from sellers, buyers and realtors alike, after posting my last blog touting Kohala Ranch 2009 stats.
Kohala Waterfront real estate was very slow in 2009, with only one lot selling for $599,999 in late October (bought by a family who lives in my hometown of Los Gatos, CA) and an oceanfront home that finally sold in March for $2.7M after being on the market nearly continually since June of 2005, with an original asking price of $5.95M.
Only one home sold in Kohala Estates in all of 2009 – a small “starter” home on 3 acres, financed by the seller sold for $450k in October. In contrast, Kohala By The Sea real estate saw five homes and two bare lots sell in 2009. From a low of $860,000 for a 2200sqft home that sold in July – to a high of $1,180,000 for a 2800 sqft gorgeous custom home sold by Jan Nores, R(S) of Hawaii Life in October – prices were fairly consistent across the board.
Currently, the best value in all the Kohala neighborhoods to purchase might just be this lovely 2500 sqft house with pool listed for $899,000, in Kohala-by-the-Sea.