6 West Hawaii Real Estate | August 17, 2018
MLS Statistics
The North Kona residential market and Hawaii Island
could be a big beneficiary of the seizing of eruptive activity
from Kilauea volcano. June and July data had shown
some negative impact in sales numbers and price. The
year over year stats are still up, but would likely have been
stronger if it weren’t for the May 3 SE Rift Zone eruption.
The island wide stats show a slight drop in East
Hawaii sales numbers since last year. However, more
current data shows the East Hawaii real estate market
has faired well in sales numbers since the eruption. This
could be due to displaced home owners buying replacement
homes, investors finding the strong rental market
attractive and the overall East Hawaii market area looking
more attractive than parts of West Hawaii, which was
heavily effected by increased vog from the eruption.
Chart 2 - North Kona Condo data has followed a sales
and price trend very similar to the residential data. Since
the eruption began, sales numbers have dropped. Median
price has held up well.
The 30 day sales numbers for condo and residential
are 25 sold. This is down considerably from the June 30
numbers of 40 and 53 respectively. This is partly a reflection
of the usual slower seasonal sales, but also hints at
the impact of the eruption.
Hopefully it will not take long to see the West Hawaii
market celebrate the end of the eruption with strong
sales and price numbers.
Historically, sales data shows that in market cycles
in Kona the previous peak prices are surpassed by a
substantial amount at the next market cycles peak. The
residential and condo price charts show current prices
are below their previous peaks. This suggests it is possible
the current price growth trends will continue for the
next several years.
North Kona Residential # Sold In Past 12 Months vs. Median Sale Price (thousands)
North Kona Condominium # Sold In Past 12 Months vs. Median Sale Price (thousands)
The data and charts are excerpts from
the “Griggs Report”. The report is a semimonthly
real estate market perspective
compiled by Michael B. Griggs, PB, GRI.
The data source is the Hawaii Information
Service. If you would like to be added to
the e-mailing list for the full report please
email: 2mikegriggs@gmail.com.
North Kona Homes Priced to $4.0M
# For Sale Sold Last 12 Mos. Median Sale $ Sold Last 30 Days
7/31/06 345 572 $635,000 41
7/31/07 391 427 $610,000 33
7/31/08 393 309 $575,000 14
7/31/09 425 222 $457,500 26
7/31/10 298 345 $400,000 21
7/31/11 286 387 $375,000 29
7/31/12 215 399 $373,000 38
7/31/13 153 451 $425,000 34
7/31/14 161 435 $480,000 44
7/31/15 217 429 $549,000 42
7/31/16 232 446 $572,300 50
7/31/17 185 485 $620,000 50
7/31/18 176 496 $630,000 25
Percentage Change since 2017
-5% 2% 2% -50%
N orth Kona Condos Priced to $1.5M
# For Sale Sold Last 12 Mos. Median Sale $ Sold Last 30 Days
7/31/06 359 528 $427,300 35
7/31/07 375 306 $380,300 18
7/31/08 358 223 $340,500 16
7/31/09 359 149 $270,000 16
7/31/10 235 252 $215,500 20
7/31/11 188 307 $168,000 28
7/31/12 156 309 $173,000 31
7/31/13 109 319 $212,500 29
7/31/14 137 372 $235,500 30
7/31/15 163 364 $246,000 36
7/31/16 208 333 $270,000 25
7/31/17 148 430 $289,900 53
7/31/18 143 412 $304,800 25
Percentage Change since 2017
-3% -4% 5% -53%
N. Kona Residential Price Range Table 2017 Sold 2018 Sold Gain/Loss
TO $400,000 36 27 -9
$401,000 to $500,000 79 72 -7
$501,000 to $700,000 184 189 5
$701,000 to $900,000 91 107 16
$901,000 to $1.5M 71 76 5
$1.5M to $4.0M 28 27 -1
Over $4.0M 24 29 5
TOTAL KONA HOME SALES (12 MONTHS) 513 527 14
HAWAII ISLAND HOME SALES PRICES
2017 2018
HAWAII ISLAND TOTAL
$541,200 $581,700
EAST HAWAII (3-1 TO 3-4)
$289,900 $300,900
WEST HAWAII (3-5 TO 3-9)
$854,800 $899,600
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