Nearly all locations on the Big Island reported an increase in home sales for June '10 compared to June '09.  The largest increases are in Kailua-Kona (up 61%), South Kona (up 250%), Hilo (up 92%), Puna (up 36%).  The Median sales prices are down slightly in most areas due to continued pressure from the foreclosure and short sale listings.

Big Island Hawaii home Sales June
2009 vs. 2010
  Homes Sold
Neighborhood 2009 2010 Median Sale Prices


North Kohala
1 3 $ 1,850,000 $ 1,550,000  

Kohala Coast
15 20 $ 350,500 $ 314,000  

Kailua – Kona
28 45 $ 435,000 $ 422,500  

South Kona
2 7 $ 301,750 $ 327,500  
Kau 3 6 $ 206,000 $ 172,800
Hamakua
Coast
1 0 $ 325,000 $ 400,000

North Hilo
1 0 $ 575,000 $ 0
Hilo 13 25 $ 280,000 $ 285,000
Puna 39 53 $ 165,000 $ 135,000
Big Island of Hawaii 103 161 $ 280,000 $ 285,000

As in the previous month of May, the Kohala Coast and Kona condo sales continued their increase in sales for June '10 vs. June '09, with Kohala Coast condo sales reporting a gain of 111% and Kona up 138%.  Median sale prices are still declining with Kohala Coast down 25% and Kona down 39%.  Hilo actually showed an increase in the median sale price of 118%.

Big Island Hawaii Condo Sales June 2009 vs. 2010
  Condos Sold
Neighborhood 2009 2010 Median Sale Prices


North Kohala
0 0 $ 0 $ 0  

Kohala Coast
9 93 $ 440,000 $ 331,500  

Kailua – Kona
13 31 $ 288,550 $ 176,250  

South Kona
0 0 $ 0 $ 0  
Kau 0 1 $ 0 $ 0
Hamakua
Coast
0 0 $ 0 $ 0

North Hilo
0 0 $ 0 $ 0
Hilo 6 3 $ 70,000 $ 152,563
Puna 0 0 $ 0 $ 0
Big Island of Hawaii 28 53 $ 299,450 $ 210,000

Current Market Conditions as of July 10, 2010... There are 510 Single Family Homes on the market for the Kona/Kohala Coast, which is an increase from last month's 477 active listings.  There are 163 homes in escrow, which is more than last month's 132 and 65 homes sold vs. 37 last month.  At the current buying rate, we have a 7.8 month supply of homes, which is more than last month's 12.9 month supply.

Of the 477 Single Family Homes on the market, 39 are Foreclosure Listings and 65 are Short Sale Listings.

For Kona/Kohala Coast Condos, there are currently 499 on the market for sale, down from last month's 567.  There are 108 in escrow, down from 133 last month and 50 sales, down from 57 sales last month.  We have a 10 month supply of inventory, which remains the same from from last month's 10 month supply.

The Fed has extended the First Time Home Buyer Tax Credit through September 30, 2010, so those buyers that have accepted offers and opened escrow before April 30, 2010 may still be able to claim the tax credit, if their escrow closes by September 30, 2010.  The Fed extended the credit, since many buyers have been waiting for lien holder approval on their short sale transactions.

Information on sales for the Big Island of Hawaii was provided by Kurt & Kirsten Carlson, Big Island real estate experts.