Where to Buy in Kona: The Hottest Real Estate Spots for 2024
Aloha, everyone! I’m Soraya Letournel, one of the top real estate agents here in Kailua-Kona. My expertise lies in helping sellers get the best offers for their properties and assisting those looking to relocate to the Big Island. I also specialize in finding the perfect investment properties, vacation rentals, and luxury homes for my clients. Today, I’m excited to discuss the hottest real estate opportunities in Kailua-Kona as we wrap up 2024 and prepare for 2025.
If you’ve been considering buying, investing, or relocating to the Big Island, this blog will dive into the top neighborhoods, current market trends, and tips to help you find the perfect property. Let’s explore what makes Kailua-Kona’s real estate market so exciting right now.
Why Palisades Is a Must-Consider Neighborhood
Palisades has become one of the most sought-after neighborhoods in Kona. Nestled on the slopes overlooking the ocean, it offers stunning views and a variety of homes to suit different budgets. From affordable properties in the $700,000 range to luxury homes priced at $1.6 million or more, there’s something for everyone.
This neighborhood has a suburban feel with many families and retirees drawn to its convenience and amenities. However, for those who prefer more privacy and space, the denser layout of Palisades might not be ideal. Lot sizes range from 7,000 square feet to an acre, giving buyers the flexibility to choose based on their preferences. Palisades’ large inventory and varied price points make it a hotspot for real estate in Kona.
For dining, Palisades is conveniently close to restaurants like Pine Tree Cafe and Island Fish & Chips, offering casual Hawaiian dining. Shopping is accessible at Costco, located just a short drive away, making it easy for residents to stock up on essentials. Nearby beaches like Kohanaiki Beach Park provide a peaceful retreat for residents, with opportunities for snorkeling and surfing. Healthcare facilities, including Kona Community Hospital, are within a 20-minute drive. For families, Kealakehe Elementary, Intermediate, and High School are located nearby, making it an ideal location for households with children.
The Timeless Appeal of Holualoa
Holualoa holds a charm like no other. Known for its lush, green environment and cool climate, this area feels like old Hawaii at its best. It’s also a hub for Kona’s famous coffee farms, with properties ranging from vintage plantation homes to sprawling estates priced between $1 million and $7 million.
Holualoa’s appeal lies in its natural beauty and diverse neighborhoods. Some areas are governed by homeowner associations with strict rules, while others are more laid-back and rural. The variety in price points and property types makes Holualoa an attractive option for buyers seeking anything from a small farm to a luxury retreat.
Holualoa’s proximity to small coffee shops like Heavenly Hawaiian Coffee Farm provides a unique opportunity to experience the local coffee culture. Residents are also close to the Keauhou Shopping Center, which offers groceries, dining options, and boutique shops. Outdoor enthusiasts will love the nearby Holualoa Trail, which provides stunning views and challenging hikes. Beaches like Kahaluʻu Beach Park are a short drive away and are perfect for snorkeling and spotting marine life. While it feels remote, Holualoa is within 30 minutes of Kona Community Hospital and Kona International Airport, ensuring accessibility to essential services.
Downtown Kona: A Vibrant and Convenient Lifestyle
Downtown Kona is the beating heart of the area, filled with restaurants, shops, and activities. While it’s primarily a condo market, it offers something for everyone, from residences for full-time living to vacation rentals. Properties here vary widely in price depending on their functionality, such as whether they allow short-term rentals or are designated for residential use only.
Residents love downtown Kona for its walkability. You’re just steps away from beaches, the pier, and local attractions like restaurants and shopping. The community vibe is strong, and you’ll quickly find familiar faces as you walk or jog along Ali’i Drive. For those who prefer a home close to all the action, this is the place to be.
Restaurants abound in this area, with popular options like Huggo’s on the Rocks for waterfront dining and Basik Café for açaí bowls. For shopping, the Kona Commons Shopping Center and Ali’i Gardens Marketplace offer everything from groceries to artisanal goods. The iconic Kailua Pier is a hotspot for activities like paddleboarding and canoeing. Healthcare needs are covered by Kona Community Hospital, just a 20-minute drive away. Families will find schools like Kealakehe Elementary within a short drive. With public parks and small beaches like Magic Sands Beach Park nearby, outdoor enthusiasts will always have something to do.
Exploring Kona Proper and Beyond
Kona Proper refers to the neighborhoods just above downtown, offering single-family homes with larger lots and more privacy. Lower Māmalahoa Street, for example, is home to properties that often include separate rental units, making them ideal for generating additional income. Prices in this area generally range from $1 million to $1.7 million, offering excellent value for square footage and ocean views.
Upper neighborhoods like Kona Vistas and Keauhou are known for newer construction and strict building codes, ensuring a high standard of living and property value. These areas offer a mix of privacy, breathtaking views, and proximity to amenities, making them a popular choice for families and retirees alike.
This area is incredibly accessible, with easy access to Queen Kaʻahumanu Highway and a 10-minute drive to downtown Kona. Dining options include On the Rocks and Jackie Rey’s Ohana Grill, both offering local Hawaiian cuisine. Shopping at Safeway or Target is just minutes away. Beaches like White Sands Beach Park and Kahaluʻu Beach are a short drive, making it perfect for families and water lovers. Healthcare services are easily accessible at Kona Community Hospital, and schools like Hualālai Academy and Kealakehe Intermediate and High School are nearby for children.
Keauhou: Resort Living Meets Relaxed Vibes
Keauhou is perfect for those seeking a quieter, resort-like atmosphere. The area features gated communities, luxury condos, and high-end single-family homes. It’s also home to the Keauhou Bay, where you can enjoy ocean activities like manta ray snorkeling and paddleboarding.
The price range here reflects its exclusivity. Condos start at $750,000 and can reach up to $1.7 million, while single-family homes in gated communities often begin at $2.5 million. Keauhou offers a slower pace of life, ideal for those looking to escape the busier areas of Kona.
What’s Driving the Market in 2024?
The hottest price points right now are between $1.1 million and $1.3 million for single-family homes. These properties tend to offer the best value, with features like ocean views, larger lots, or newer renovations. Sellers in this range are pricing their homes accurately, resulting in multiple offers and quick sales.
Another exciting segment is luxury homes priced between $2.5 million and $4 million. Sellers in this bracket are more strategic, listing their properties at fair market value to attract serious buyers. New developments are also appearing, offering modern, high-end homes for buyers looking for something brand new.
For condo buyers, two-bedroom units without short-term vacation rental permits are a great opportunity. These properties are often overlooked but offer excellent value for residential buyers. Additionally, many sellers in this category are motivated, making it an ideal time to negotiate favorable terms.
Keauhou is home to the Keauhou Shopping Center, which features restaurants like Sam Choy’s Kai Lanai, a cinema, and a grocery store. The nearby Keauhou Bay is perfect for manta ray snorkeling, paddleboarding, and canoeing. Golf enthusiasts will appreciate the Kona Country Club, which offers a beautiful course with ocean views. Ali’i Health Center provides healthcare services nearby, and the area is close to Konawaena High School and other educational facilities. With its laid-back vibe and convenient amenities, Keauhou offers a perfect blend of relaxation and modern convenience.
FAQs About Kailua-Kona Real Estate
- What’s driving Kona’s real estate market in 2024?
Accurate pricing and high demand for well-located properties are keeping the market competitive. Buyers are drawn to Kona’s unique mix of lifestyle, views, and amenities.
- Are there affordable options in Kona?
Yes, areas like Palisades and some older homes in Kona Proper offer more affordable options. However, prices under $1 million often require some renovations or updates.
- What’s the best way to find a home in Kona?
Working with an experienced local agent who understands the market and neighborhoods is essential. A good agent can help you navigate the competitive market and find properties that align with your lifestyle and budget.
- What’s the average price of homes in Kona’s top neighborhoods?
The average price varies greatly depending on the neighborhood and property type. In Palisades, single-family homes start around $700,000 and can go up to $1.6 million for properties with extensive ocean views and luxurious features. Downtown Kona offers condos starting at $400,000 for smaller units and up to $1.5 million for oceanfront properties. Kona Proper features single-family homes ranging from $1 million to $1.7 million, often with additional rental units or ocean views. Luxury homes in Keauhou typically start at $2.5 million and can exceed $5 million for expansive estates.
- Are there good investment properties in Kona?
Yes, Kailua-Kona offers numerous investment opportunities. Condos in Downtown Kona and Keauhou are particularly attractive for short-term vacation rentals, as many complexes allow Airbnb or VRBO rentals. Homes in neighborhoods like Kona Proper often have additional rental units that can generate steady income. Additionally, the 1.1 to 1.3 million-dollar price range currently offers high-value properties, often with minimal renovations required, making them a smart choice for investors looking to enter the Kona market.
- Which Kona neighborhoods are best for families?
For families, neighborhoods like Kona Proper, Keauhou, and Palisades are ideal. Kona Proper offers single-family homes with spacious yards, sidewalks for kids to play safely, and proximity to schools like Kealakehe Intermediate and High School. Keauhou provides a quieter, resort-like atmosphere with access to beaches, parks, and family-friendly amenities at the Keauhou Shopping Center. Palisades, with its suburban vibe and ocean views, also appeals to families, especially with schools and healthcare facilities located within a short drive.
Kailua-Kona offers diverse opportunities for buyers, whether you’re looking for a luxury retreat, a family home, or an investment property. From the lush coffee farms of Hualālai to the vibrant streets of downtown Kona, there’s a neighborhood for everyone. With the market heating up and properties priced to sell, now is a great time to explore your options in Kona.
If you’re ready to start your journey, reach out to discuss your needs and let’s find the perfect home for you. Aloha!