Kona Real Estate Market Update: Home Sales Are Rising While Condo Sales Slow

by RS Julie Ziemelis

If you’ve been watching the North Kona real estate market, there’s an interesting story developing. Single-family homes and condos are moving in two very different directions, which we touched on last month, as well.

The August 2026 numbers show that prices have softened for both homes and condos, but buyers are responding very differently depending on the type of property.

Let’s break down what’s happening. North Kona: single-family home sales activity is strengthening, while condo sales activity is weakening. Prices are down in both categories, but condos are showing the bigger decline.

North Kona Single-Family Homes

The median sales price for a single-family home in North Kona during August was $1,062,000.

That’s down from $1,135,000 in August 2025, a decline of about 6.4% year over year.

When we look at the bigger year-to-date picture, we see a similar trend.

Through the end of August:

2025 median price: $1,255,000
2026 median price: $1,185,000
Change: Down 5.58%

So yes, North Kona home prices have come down compared with last year.

But this is where the numbers get interesting.

More Buyers Are Purchasing Homes

Even though the median price has declined, the number of homes actually selling has increased.

In August 2025, 24 single-family homes sold in North Kona.

In August 2026, that jumped to 36 sales.

That’s a 50% increase in the number of homes sold compared with August last year.

The year-to-date numbers are also up:

2025: 243 homes sold
2026: 264 homes sold
Change: Up 8.64%

So we have lower median prices but more buyers completing purchases.

To me, this is one of the most interesting parts of the North Kona market right now. As prices have adjusted, more buyers appear to be stepping in and making purchases.

North Kona Condos Are a Different Story

The condo market is showing considerably more weakness.

The median North Kona condo price in August 2026 was $496,500.

In August 2025, it was $576,250.

That means the August median condo price declined 13.84% year over year.

The year-to-date numbers aren't quite as dramatic, but they still show a clear decline.

Through August:

2025 median condo price: $621,000
2026 median condo price: $572,500
Change: Down 7.81%

The median-price statistics show that both North Kona homes and condos are below last year's levels, with the decline larger for condos.

Condo Sales Are Down Too

This is probably the biggest difference between the home and condo markets.

Not only have condo prices come down, but we're also seeing fewer condos selling.

In August 2025, 22 condos sold in North Kona.

In August 2026, only 12 condos sold.

That's a decline of 45.45%.

Year-to-date:

2025: 211 condos sold
2026: 182 condos sold
Change: Down 13.74%

So while lower single-family home prices are happening alongside increased sales activity, the condo market is experiencing both lower median prices and fewer sales.

The North Kona Market Is Really Two Markets Right Now

This is why I don't think it's accurate to simply say that the Kona real estate market is either going up or going down.

It depends on what you're looking at.

Single-family homes: Median prices are down about 5.6% year-to-date, but the number of homes sold is up 8.6%.

Condos: Median prices are down about 7.8% year-to-date, while the number of condos sold is down almost 14%.

And if we look only at August, the difference is even more noticeable.

Single-family home sales increased 50%, while condo sales declined more than 45% compared with August last year.

What Does This Mean for Buyers and Sellers?

For buyers looking at single-family homes, the numbers suggest that lower prices may be bringing more people back into the market. That doesn't necessarily mean homes are suddenly inexpensive—this is Kona after all—but buyers seem more willing to move forward when they find the right property at the right price.

For condo buyers, the market may offer more opportunities to negotiate, particularly when a property has been sitting on the market or the seller is motivated.

For condo sellers, pricing is becoming increasingly important. Buyers have choices, and simply pricing a condo based on what a similar unit sold for a year or two ago may not reflect today's market.

One Important Thing to Remember About Median Prices

A declining median sales price does not mean that every North Kona home has lost 5.6% of its value or that every condo has dropped 7.8%.

Median price is influenced by the mix of properties that sold during a particular period.

That's especially important when looking at one month's numbers. That's why I put more weight on the year-to-date statistics when trying to understand the overall direction of the market.

Still, when we combine prices with the number of sales, we're starting to get a pretty interesting picture of North Kona real estate in 2026.

Home buyers are becoming more active as prices have softened, while the condo market continues to face more pressure.

One point on the stats that we don't discuss much is sales volume, but I want to point that out as the split between the two markets are even more dramatic. North Kona single-family dollar volume is up 29.16% year-to-date, from roughly $529.4 million to $683.8 million. Condo dollar volume is down 17.24%, from roughly $233 million to $192.8 million.

This is my opinion: The math isn't mathing for investors in the condo market right now with the uncertainty of the economy, HOA fees and tourism.

If you are considering buying or selling in Kailua Kona, understanding which part of the market you're in matters more than simply looking at a headline saying Hawaii home prices are up or down. We can help you dig deeper into neighborhoods and condo complex behaviour as there are many "micro climates" of homes that behave differently than the median. Let's talk real estate over a Zoom or in person! Give us call at 808-785-2898 or email Julie@Ziemelis.com

Market statistics are based on Hawaii Information Service MLS data through August 31, 2026.