Hawaii island showed strong growth in both unit and sales volume with West Hawaii luxury homes driven by strong sales in new inventory at the new Kohanaiki Golf and Ocean Club community near the Kona-Keahole airport. Click here for more Kohanaiki information.

Pacific Business News reports, “Kohanaiki finished the holidays with just over $30 million in sales with another $12 million currently in negotiation, and also completed a $65 million clubhouse designed by architect Shay Zak of Zak Architecture.

The 67,000 square-foot space includes a cigar lounge with a poker table and scotch bar, a collection of more than 200 artworks and artifacts, a private brewery, a four-lane bowling alley, a 21-seat movie theater and a holistic spa designed by Tracy Lee.”  “California-based IHP Capital Partners Inc. and Kennedy Wilson, Inc. developed the 500-home project, which was halted in 2008 due to the recession. The 450-acre, private residential community began sales in 2013.”

Hawaii Island Experiences Positive Unit Sales Growth in December 2016 and Year over Year for 2015 vs. 2016

Year over year residential unit sales were up island wide by +14.23% for 2016 and up +16.20% YOY for December 2016.

Condominium sales units were up island wide by +7.4% for 2016 and down -13.24 % for December 2016.

Click Here for the full Hawaii Island 2016 Report including North and South Kona.
Click Here for the full State of Hawaii 2016 Report.

Puna District Leads Residential Homes Unit Sales for Hawaii Island in 2016

Year over year residential sales volume for Hawaii Island for 2016 was up +22.78% and up Year Over Year and up +2.23% for December 2016.  The leading district for positive residential home sales growth in 2016 was located in the Puna district where home prices remain relatively low-up +49.23%-which was over twice the island wide average for 2016 vs. 2015 sales volume.  Puna’s average residential home sales price increased +13.79% in 2016 to $198k vs. $174k in 2015.

Click Here for the full 2016 Report including North and South Kona.
Click Here for the full State of Hawaii 2016 Report.

South Kohala Resort District Has Positive Sales Growth and Price Increases for 2016 but Unit Volume Decreases for Single Family Residential Homes

South Kohala Unit Sales Recap Year over Year and December 2016

There was a -11.07% decrease in the number of single family home units sold in the South Kohala area in 2016 vs. 2015-249 units (2016) vs. 280 units (2015). There was a +19.43% increase in the number of condominium units sold in the South Kohala area 252 units (2016) vs. 211 units (2015). In December 2016 sales of both residential homes and condominium units were down -46.43% and -14.29% respectively.

Click Here for the full 2016 Report including North and South Kona.
Click Here for the full State of Hawaii 2016 Report.

South Kohala Sales Volume Recap Year Over Year and December 2016

Sales volume of South Kohala condominiums were up +17.24% in 2016 vs. 2015. December sales comparison (YOY) reveals a -5.69% (2016) decrease in total sales from 2015 sales.

Click Here for the full 2016 Report including North and South Kona.
Click Here for the full State of Hawaii 2016 Report.

South Kohala Median Sales Prices move slightly downward

Median Condominium sales price moved down in 2016, -2.9% from $457k in 2015 to $447k in 2016. Median sales price of single family homes moved up +3.09% YOY in 2016 in South Kohala to $500k from $485k in 2015.

Click Here for the full 2016 Report including North and South Kona.
Click Here for the full State of Hawaii 2016 Report.

Written by Rick Oliver on February 15, 2017
Posted in: Real Estate | Tags: 2016, Hawaii Real Estate, property sales