Big Island

Kohala Ranch 2022 Year-End Market Update and Recap


As a courtesy to current and prospective Kohala Ranch homeowners, I am pleased to present the 2022 Kohala Ranch market recap and sales information breakdown.

Before looking back at the Kohala Ranch real estate market in 2022, I would like to share some interesting information regarding construction and development activity within Kohala Ranch. According to the community management company, there are currently 8 homes under construction, and an additional 4 homes were recently granted occupancy. There are a total of 59 homes in various stages of the planning and construction process. Of the 520 total lots in Kohala Ranch, 207 lots (or 40%) have now been developed.

Transitioning back to real estate, Kohala Ranch and the greater Kona-Kohala coast market remained quite resilient in 2022 despite the numerous factors that adversely affected the world economy and money markets. This led to fear of a recession and home sales cooling significantly in certain markets, accompanied with mortgage rates recently crossing the 6 percent threshold for the first time since 2008. As history continues to show, the Big Island’s Kona-Kohala Coast has fared better than other markets during slowdowns.

In 2022 there was a total of 15 residential sales within Kohala Ranch which represents a 25% decrease compared to the 20 closed residential transactions in 2021. For vacant land, there were 31 sales recorded last year. That is a 57% decrease compared to the 72 vacant lots sold in all of 2021.

Furthermore, there was approximately $52 Million in sales volume recorded within Kohala Ranch in 2022 which is a 21% decrease compared to the $66 Million in sales recorded in 2021, and a 40% increase compared to the $37 Million in sales recorded in 2020.

Although there were significantly fewer recorded sales in 2022 compared to the previous year when we witnessed the most closings ever in one calendar year within Kohala Ranch, prices continue to push upwards; a 22% increase in average residential sales prices in 2022 compared to 2021, and a 34% increase in average vacant land sales prices in 2022 compared to the previous year within Kohala Ranch.

aerial view of kohala ranch big on big island hawaii

Kohala Ranch Year-End Statistics

Kohala Ranch Residential Sales:

2022 : 15 Sales     (25% Decrease Year-Over-Year)
2021 :  20 Sales
2020:  16 Sales
2019:   19 Sales

Kohala Ranch Land Sales:

2022 : 31 Sales     (57% Decrease Year-Over-Year)
2021 :  72 Sales
2020:  33 Sales
2019:   18 Sales

Average Residential Sales Price:

2022:  $2.57M      (22% Increase Year-Over-Year)
2021:    $2.10M
2020:   $1.82M
2019:    $1.56M

Average Vacant Land Sales Price:

2022:  $436K       (34% Increase Year-Over-Year)
2021:    $325K
2020:   $235K
2019:    $208K

Kohala Ranch Total Sales Volume:

2022:  $52M          (21% Decrease Year-Over-Year)
2021:    $66M
2020:   $37M
2019:    $34M

Looking Ahead

Current inventory in the residential segment remains relatively low, and quality, strategically located properties are still in high demand with properties in certain Kohala Ranch nodes selling within weeks of coming on the market. Last year over 40% of the residential sales within Kohala Ranch sold at, or over the list price. Furthermore, over two-thirds of the residential sales last year sold within 95% of the list price.

Looking ahead, Matt Beall, CEO and principal broker for Hawaii Life, said the new year will bring a few surprises in Hawaii’s luxury real estate market. “At a time when the overall market is contracting, I think we’re going to see several very high-end transactions this year, if not record-breaking prices,” Beall said in a statement provided to Pacific Business News. “There’s still a lot of very well-funded demand, and the other options for investment are less appealing than they have been in recent years. The lack of inventory will be an issue for the real estate market at large, but in the ultra-luxury segment, deals will go together whether the properties are publicly listed for sale or not.”

As a result of a strong year, our team’s inventory of available properties is at an all-time low. As we progress through Q1 2023 there is need for additional inventory in Kohala Ranch. Of the 207 homes in Kohala Ranch, there are only five (5) 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 in Hawaii.

Below please find detailed data of the 2022 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.

gazebo at kohala ranch

2022 Residential Sales Breakdown

(Click Here) to view a detailed list of the eight (8) 2022 sales in the Heathers section(Lower Coastal Section approx. 200 ft – 1,000 ft elevation, 3-5 Acre Parcels). The Heathers homes sold at an average price of $2.5M.

(Click Here) to view a detailed list of the four (4) 2022 sales in the Meadows section (Middle Section approx. 1,200 ft – 2,000 ft elevation, 3-5 Acre Parcels). The Meadows homes sold at an average price of $2.3M.

(Click Here) to view a detailed list of the three (3) 2022 sale in the Summit section (Upper Ranch Section approx. 2,000 ft – 3,000 ft elevation, 10+ Acre Parcels). The Summit homes sold at an average price $3.1M.

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 all of the Kona-Kohala Coast. Over the past decade Hawaii Life Real Estate Brokers has closed more transactions and accounted for more in sales volume within the district of North Kohala than any other brokerage firm. Our team sold over $57 Million in the district of North Kohala last year, which is 68% more than the closest competing brokerage.

Over the past two (2) years I have personally sold 21 properties and represented Buyers & Sellers in 25 total sides of business within Kohala Ranch, which is more than any other Realtor. I have sold $22M in volume, which is 84% 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 Ranch “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.

Jake Chancer

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