Just a month ago, mid-May 2020, there was not a single Kohala Ranch home with a pending sale. In the past three weeks, four Kohala Ranch homes with ocean view on acreage have gone into escrow! This is despite Covid-19 restrictions in effect preventing prospective buyers from traveling to Hawaii from their Mainland homes.
Kohala Ranch: Ocean View Homes on Acreage in a Gated Community
As I wrote in my post about trends we are seeing in the Kohala Coast, Big Island market, buyers who have been considering a purchase in Hawaii seem to be accelerating their plans, and those who have been looking for a while and have a relationship of trust with a real estate agent are increasingly willing to buy on the basis of virtual tours and the recommendation of their trusted advisor.
We also see more buyers are looking for somewhat larger homes or a home with separate guest quarters; larger lots providing distance between homes and space to play; and amenities like an office and pool for those working from home. Kohala Ranch meets all these criteria. Lot sizes range from 3 acres to 14 acres; home size is a minimum of 2,000 sq ft for “smaller” lots and 2,500 sq ft for lots over 10 acres; and Kohala Ranch has the desirable west-facing ocean views, with a climate similar to the nearby Kohala Coast resorts.
Market Trends at Kohala Ranch in 2020
Three of the four homes in escrow at Kohala Ranch have either larger acreage or a large home or both. Two of them are on lots of more than 12 acres with agricultural buildings; the three each have 5 bedrooms and over 5,000 sq ft. The average listing price is just shy of $2 million:
For perspective, in 2019 there were 19 homes sold at Kohala Ranch with prices from $760,000 to $2,700,000, and the average being only $1,568,000. Only three of those 19 homes were over 5,000 sq ft and only one in the Summit section where the lots are over 10 acres.
There are currently only seven active residential listings at Kohala Ranch, at prices ranging from $959,900 for a bank-owned home in the Meadows, to $2,895,000 for a 6,042 sq ft home on over 12 acres that would be perfect for an extended family to spend extended stays.
By the way, there are also three vacant lots in escrow, listed from $149,000 to $299,000. With 34 active lot listings, youʻll need a virtual guide to distinguish the best, if your preference is to buy the land and build to your specifications.