Kona Kohala Blog

The new year is starting the way the old year left off, slow in the Kona real estate market.  There are a lot more buyers looking at property right now but not many making any offers.  It seems that everyone is waiting to see just how far down the prices will go before they start up again.

I wouldn't wait too long.  Prices here haven't dropped the way they have on the mainland.  In 2007, median prices in North Kona did come done a bit, just over 4%.  For the four years preceeding 2007 we saw increases above 20% so 4% is a minor correction.

With Hawaii being one of the most desirable places on earth and 78,000,000 retirees hitting the streets in the next 10 years, this place is going to be in demand.

I talked to a client today who's looking 6 to 7 years down the road.  He's thinking buy now and hold for that long; will there be appreciation?  Almost guaranteed if history is correct.  That long should outlast any down market and return a nice amount of appreciation to the buyer.

Prices will go down but with current interest rates as low as they are, waiting may not be the smartest thing to do.  Timing the market seldom works.