Market Update: Kohala Ranch - Estates - By the Sea

Kohala Ranch, Kohala Estates, Kohala By the Sea, Kohala Waterfront - four communities just minutes from the beaches and resort amenities of the Kohala Coast!

A Just north of the famed Kohala Coast resorts on the Big Island of Hawaii lies the district of North Kohala. The three gated communities of Kohala by the Sea, Kohala Waterfront, Kohala Ranch--plus the gate-less neighborhood Kohala Estate -- are an obvious choice for newcomers ready to step beyond resort living. Twelve months ago there was a surplus of homes for sale in these communities as sales had ground to a halt. Over the past twelve months there have been no fewer than 32 real estate transactions - 13 land parcels sold and 19 residences.

The houses ranged from a $450,000 starter home in Kohala Estates to a $2.6 million ocean view estate in the lower Heathers section of Kohala Ranch. The average sales price was almost $1.3 million. Very few of these were distress sales, but real estate prices are still quite attractive compared to the market peak.

There are currently only three homes in escrow: two short sales (one in Kohala Estates for under $500,000 and one at the Summit of Kohala Ranch that looks like screaming deal at $1,250,000) and the third is an REO (foreclosure) in Kohala By the Sea at $706,000.

Among the 29 active listings in these communities, a dozen houses were featured on a broker caravan last Friday. My "best buy" picks include:

• a bank-owned equestrian estate at the Kohala Ranch Summit that once was on the market for $3 million and now is at a crazy $1,425,000 with 8-stall barn and separate 2 bedroom caretakers cottage
• a contractor's own home in the Meadows with both blue ocean and green mountain views way below replacement cost at $1,099,000
• a home in the lower Heathers whose location makes you feel as though you are almost oceanfront. I love everything about the home except the kitchen, which has a challenged layout. But who cares when you can barbecue around the pool? Now reduced to $1,750,000.

A hui hou,

Beth Thoma Robinson R(S)

Direct: 808.443.4588 Email: beth@hawaiilife.com