Sales for Big Island homes reported little change in most locations compared to May '10.  North Kohala showed a 140% increase, which is the only location with a significant difference in sales.  Median sale prices were up 39% in North Kohala and up about 8% in Hilo.  All other locations reported median price declines: Kohala Coast (-6%), Kailua-Kona (-6%), South Kona (-3%), Kau (-24%), Hamakua (-43%), and Puna (-8%).

Big Island home Sales May 2010 vs. 2011
  Homes Sold
Neighborhood 2010 2011 Median Sale Prices
North Kohala 4 4 $ 309,000 $ 430,500  
Kohala Coast 10 24 $ 334,500 $ 315,000  
Kailua – Kona 34 36 $ 445,650 $ 421,000  
South Kona 5 4 $ 262,500 $ 254,450  
Kau 7 10 $ 185,000 $ 140,500
Hamakua Coast 4 3 $ 272,500 $ 154,500
North Hilo 1 0 $ 305,000 $ 0
Hilo 17 18 $ 265,000 $ 285,000
Puna 46 48 $ 159,500 $ 146,000
Big Island of Hawaii 128 147 $ 265,000 $ 237,000

Big Island condo sales where up slightly on the Kohala Coast and in Kailua-Kona compared to May '10.  The Kohala Coast reported a 4% increase and Kailua-Kona was up 9%.  The Big Island total condos were up almost 11%.  Median sale prices actually increased in Kohala, up 4%.  Kailua-Kona condo prices declined 22%.

Big Island Condo Sales May 2010 vs. 2011
  Condos Sold
Neighborhood 2010 2011 Median Sale Prices
North Kohala 0 0 $ 0 $ 0  
Kohala Coast 19 23 $ 370,000 $ 385,150  
Kailua – Kona 32 35 $ 215,000 $ 167,000  
South Kona 0 0 $ 0 $ 0  
Kau 0 0 $ 0 $ 0
Hamakua Coast 0 0 $ 0 $ 0
North Hilo 0 0 $ 0 $ 0
Hilo 4 3 $ 75,748 $ 8,000
Puna 0 0 $ 0 $ 0
Big Island of Hawaii 55 61 $ 306,250 $ 199,950

Current Market Conditions as of June 7, 2011... There are 456 Single Family Homes on the market for the Kona/Kohala Coast, which is a decrease from Apr '11 of 473 active listings.  There are 158 homes in escrow, 2 more than last month's 156 and 60 homes sold vs. 53 last month.  At the current buying rate, we have a 7.6 month supply of homes, which is less than last month's 8.9 month supply.

Of the 473 Single Family Homes on the market, 30 are Foreclosure Listings and 43 are Short Sale Listings.

For Kona/Kohala Coast Condos, there are currently 403 on the market for sale, which is the same as Apr '11 of 403 listed condos.  There are 120 in escrow, down from 141 last month and 58 sales, up from 34 sales last month.  We have a 6.9 month supply of inventory, which is a large decrease from last month's 11.8 month supply.

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