Aloha from Chiaki Yamada with KW-Big Island. Though February is a short month, I hope it is filled with lots of love and sweet surprises.

We had snow on atop both Mauna Kea and Mauna Loa for a few days to give us a few cool evenings and mornings on our island. Kilauea Volcano has been on and off, creating some changes in our sky with the presence of Vog and enhancing the end of each day with colorful pink and purple sunsets.

As for the current Real Estate market, I feel it is the slowest winter in the last 6 years. Real Estate hyped activity at the end of last year, after the U.S. election, did not last long. The market defied expectations as prices increased despite the higher interest rates, and growing and renewed inflation concerns. Therefore, more than ever, Buyers seems to be in a "holding status," which equals low buying activity. This is enhanced because Hawai’i’s real estate is largely a resort market. The slow market in what is supposed to be the busiest time of the year is why we are seeing so many price reductions. Right now, if the property is on the market for a while without many showings, corrective pricing is a key to selling your property this year. It is important to be in ahead of the market, rather than chasing the market in the pricing.

For Kona's Residential Market, due to relatively limited inventory, statistically the market is maintaining its median price, yet in some neighborhoods we have started to see some price drops. Since last month, the inventory increased by 12%, yet Pending Ratio decreased by 10%. This means that Buying activities weakened while the inventory increased this month.

Here is the information on the Kona Residential Market (Active Listings, Under Contract, Pending Ratio and Market Insight) as of 2/14/2025. The Market varies depending on the price range. Overall, the Residential Market is holding in a "Neutral" Market.
Comparing the Kona Condo Market to the Residential Market, the Condo Market continues to struggle, yet condos on the market priced under $500,000 are showing some improvement. Compared to last month, the inventory increased by 7 % and Pending Ratio (Escrow/Active Listings) remained the same at 23% overall, which indicates there is more inventory than Buying demand at this moment. If you want to sell your condo in this market, it is crucial to price it ahead of Market, because the market priced condos are not currently moving.

Here is the information on the Kona Condo Market (Active Listings, Under Contract, Pending Ratio and Market Insight) as of 2/14/2025. Overall, any condo above $500,000 is a "Buyer's Market" right now.
I am here to provide you with a detailed market analysis in your neighborhood.
If you or anyone you know may be thinking of buying, selling or both, I would be happy to be of service!