Aloha! This is Chiaki Yamada with KW-Big Island. It’s been a “fire and ice” month as weather has brought snow to the tops of Maunakea and Mauna Loa mountains, and Kilauea has had another short but stunning eruptive phase.

In February the real estate market has shown increased activity compared to January, with a notable rise in buying activity leading to more properties entering escrow. However, the overall market momentum remains subdued. Properties with ocean views and competitive pricing are selling quickly, indicating that motivated buyers are present, but are waiting for the right opportunities at attractive prices. Conversely, some sellers possess the financial stability to maintain their asking prices, hoping for a market recovery. As a result, prices are holding steady rather than experiencing drastic declines, although more properties are remaining on the market for longer periods. The combination of desirable features and competitive pricing is essential for attracting buyers, as currently not all properties are finding takers.

This winter's high season has been notably slower than usual, with fewer individuals actively exploring the real estate market. This trend may present opportunities for committed buyers, and we anticipate gradual resurgence as we progress into the coming months.

In Kona’s residential sector, January experienced an 11% increase in inventory, as well as a 22% rise in the pending sale ratio. These figures indicate a market improvement, characterized by more available inventory and a higher number of properties entering escrow. Homes priced under $1.5 million have been the most active over the past 30 days, while properties exceeding $2.5 million have seen less buyer interest. This winter, I have observed that some buyers appear to be in a holding pattern rather than taking decisive action.

In the last 30 days, the average closing price has reached 91% of the original asking price and approximately 94% of the reduced asking price. This increase in the discount rate compared to last month suggests a gradual decline in pricing for buyers.

As of February 17, 2026, here is an overview of the Kona Residential Market, detailing active listings, properties under contract, the pending ratio, and additional market insights. Please note that market conditions can vary significantly by price range, and it is currently taking longer to secure buyers, with the average days on market now at 102 days

In Kona’s condo market, inventory remains high while buying activity is on the rise. There has been a substantial increase in sales pending, up by 48% compared to last month, leading to a 4% decrease in overall inventory. This trend indicates a growing demand for condos, particularly those suitable for vacation rentals, which are increasingly sought after by buyers. 

Like the residential market, ocean view condos offered at competitive prices are attracting buyers more quickly. As of now, the Kona condo market is classified as a "buyer's market," with average days on the market reaching 120. Over the past 30 days, properties have closed at an average price that is 94% of the original asking price and 97% of the revised asking price. The smaller discount rate compared to residential properties suggests prices are stabilizing following the recent market shift.

For those looking to invest in the Kona condo market, this appears to be an opportune time, with increased activity and potential for favorable deals.
I am here to provide you with a detailed market analysis for your neighborhood. If you or anyone you know may be thinking of buying, selling or both, I would be happy to be of service!