The Big Island home sales were up about 10% for August '11 vs. August '10. The locations reporting increases in homes sold are Puna (+30%), Hamakua (+150%), North Kohala (+50%), South Kohala (+6%), North Kona (+11%) and South Kona (+40%). The Median sales prices were lower in Puna (-28%), North Kohala (-47%), South Kohala (-3%), North Kona (-19%), Kua (-16%) and the Big Island as a whole (-7%). Median sale prices were up in South Hilo (+32%), Hamakua (+32%), and South Kona (+8%).
The continued low interest rates on mortgage financing, combined with the great property values, make it a great time to purchase property in Hawaii.
| Big Island home Sales August 2010 vs. 2011 | |||||
| Homes Sold | |||||
| Neighborhood | 2010 | 2011 | Median Sale Prices | ||
| North Kohala | 2 | 3 | $ 1,225,000 | $ 651,000 | |
| Kohala Coast | 17 | 18 | $ 339,700 | $ 329,000 | |
| Kailua – Kona | 28 | 31 | $ 408,500 | $ 329,000 | |
| South Kona | 5 | 7 | $ 275,000 | $ 296,000 | |
| Kau | 9 | 8 | $ 115,000 | $ 96,500 | |
| Hamakua Coast | 2 | 5 | $ 228,790 | $ 301,000 | |
| North Hilo | 0 | 2 | $ 0 | $ 238,000 | |
| Hilo | 28 | 19 | $ 234,000 | $ 310,000 | |
| Puna | 37 | 48 | $ 190,000 | $ 137,450 | |
| Big Island of Hawaii | 128 | 141 | $ 270,000 | $ 250,000 | |
The Kohala Coast condo sales reported an increase for August '11 vs. August '10, with a gain of 60%. North Kona condo sales were down 4%. The Median sale prices for Kohala Coast (-9%), Hilo (+597%) and Kona (51%).
| Big Island Condo Sales August 2010 vs. 2011 | |||||
| Condos Sold | |||||
| Neighborhood | 2010 | 2011 | Median Sale Prices | ||
| North Kohala | 0 | 0 | $ 0 | $ 0 | |
| Kohala Coast | 15 | 24 | $ 355,000 | $ 324,750 | |
| Kailua – Kona | 27 | 26 | $ 160,000 | $ 241,000 | |
| South Kona | 0 | 0 | $ 0 | $ 0 | |
| Kau | 0 | 0 | $ 0 | $ 0 | |
| Hamakua Coast | 0 | 0 | $ 0 | $ 0 | |
| North Hilo | 0 | 0 | $ 0 | $ 0 | |
| Hilo | 3 | 4 | $ 15,000 | $ 104,500 | |
| Puna | 0 | 0 | $ 0 | $ 0 | |
| Big Island of Hawaii | 45 | 54 | $ 207,000 | $ 251,000 | |
Current Market Conditions as of September 5, 2011... There are 492 Single Family Homes on the market for the Kona/Kohala Coast. There are 152 homes in escrow and 49 homes sold. At the current buying rate, we have a 10 month supply of homes.
Of the 502 Single Family Homes on the market, 35 are Foreclosure Listings and 56 are Short Sale Listings.
For Kona/Kohala Coast Condos, there are currently 398 on the market for sale. There are 89 condos in escrow and 50 sold in August. We have a 8 month supply of inventory.
Information on sales for the Big Island of Hawaii was provided by Kurt & Kirsten Carlson, Big Island real estate experts.