Quick Answer: North Kona's single-family home market softened further over the twelve months ending June 2026, with the median price down 6.1% to $1,225,000, according to Hawaii Information Service MLS data. Condos fell even more, down 12.3% to a median of $570,000. North Kona inventory now sits at 6.61 months of supply, which favors buyers, and homes are taking an average of 83 days to sell. Sellers are still getting about 92 cents on every listed dollar, a sign the market hasn't fully turned in buyers' favor either.

Is North Kona Currently a Buyer's or Seller's Market?

North Kona has moved into buyer's market territory. Months of inventory measures how long it would take to sell everything currently listed at the current sales pace, and anything above roughly six months typically favors buyers. North Kona sits at 6.61 months, with 409 active listings and 77 homes under contract as of the end of June. In a typical month, about 15 out of every 100 active listings go under contract, a monthly absorption rate of 15.12%. Homes are also taking longer to sell, averaging 83 days on market, and sellers are settling for roughly 92% of their original list price on average. None of this points to a market in freefall. It points to a market where buyers finally have room to negotiate after several years of the opposite being true.

How Much Are Single-Family Homes Selling For in North Kona?

The median single-family home price in North Kona is $1,225,000, down 6.1% from $1,305,045 a year earlier. Sales held nearly steady, 197 closings compared to 198 the year before, but total sales volume actually rose, from $451.7 million to $492.2 million. Fewer sales at a lower median but more total dollars changing hands points to bigger transactions carrying more weight this year, consistent with the resort and luxury activity North Kona is known for, places like Kohanaiki and Four Seasons Hualalai. A typical buyer today is negotiating a meaningfully better price than they would have a year ago, even as the island's high end keeps pulling total dollar volume up.

What's Happening in the North Kona Condo Market?

Condos have softened faster than single-family homes. The median condo price fell 12.3% year over year, from $650,000 to $570,000, on 151 sales compared to 163 the year before. Total condo sales volume dropped from $181.6 million to $160.3 million. Condo buyers, who rely on financing more often than luxury single-family buyers, are also facing a 30-year fixed mortgage rate that averaged 6.58% for the week of July 23, 2026, according to Freddie Mac's Primary Mortgage Market Survey, and that rate has been climbing through the month rather than easing. Higher borrowing costs on top of already-declining prices help explain why condo sellers are under more pressure than sellers of single-family homes right now.

How Does Inventory Compare Between Condos and Single-Family Homes?

Across Hawaii Island as a whole, condos consistently carry more months of supply than single-family homes, and that gap helps explain why North Kona condo prices are falling faster. Island-wide, single-family homes sit at 6.07 months of inventory with an average of 78 days on market, while condos run higher at 8.25 months of inventory and 88 days on market. More supply relative to demand gives buyers more room to negotiate, which is exactly what's showing up in North Kona's condo pricing. Land tells a similar story at the island level, with 10.24 months of inventory, the most of any property type tracked.

What's Happening in the North Kona Land Market?

Land sales in North Kona are actually picking up even as prices soften. The median land price fell 9.1%, from $770,000 to $700,000, but the number of parcels sold rose from 28 to 31, and total sales volume jumped more than 50%, from $46.6 million to $70.2 million. More parcels changing hands at a higher combined dollar value, even with the median price down, suggests larger or higher-value parcels are moving this year, a sign that buyers with development or long-term holding plans are still active in North Kona even as the resale housing market cools.

Is Now a Good Time to Sell in North Kona?

If you're weighing a sale, the honest picture is a market that still works for well-priced homes but no longer rewards ambitious pricing the way it did a year or two ago. A 91.82% list-to-sold ratio means most sellers are accepting real negotiation, not holding firm at asking price, and 83 days is a longer wait than sellers got used to during the tightest years of this market. Single-family sellers are in a stronger position than condo sellers, given the 6.1% price decline in homes versus 12.3% in condos. Whatever your property type, pricing it accurately from day one matters more in a 6.61-month-supply market than it did in a two- or three-month-supply market.

By the Numbers

  • North Kona single-family median price: $1,225,000, down 6.1% year over year
  • North Kona condo median price: $570,000, down 12.3% year over year
  • North Kona land median price: $700,000, down 9.1% year over year
  • North Kona months of inventory (all property types): 6.61 months
  • North Kona average days on market: 83 days
  • North Kona final list price to sold price ratio: 91.82%
  • North Kona monthly absorption rate: 15.12%
  • 30-year fixed mortgage rate (week of July 23, 2026): 6.58%

The Bottom Line

North Kona has shifted into a market that favors buyers, with single-family homes softening moderately and condos softening more sharply. Sellers who price accurately and expect real negotiation are still finding buyers within a matter of months. If you're on the fence about listing, the numbers say this is a market for patience and realistic pricing, not for testing the top of the range.

Frequently Asked Questions

Is North Kona a buyer's market or seller's market in 2026?
North Kona sits at 6.61 months of inventory, which is generally considered buyer-favoring territory, with homes averaging 83 days on market and sellers accepting about 92% of their original list price.

Why are condo prices falling faster than single-family home prices?
Condos carry more months of supply than single-family homes across Hawaii Island, 8.25 months versus 6.07, giving condo buyers more room to negotiate, and condo buyers are also more exposed to today's 6.58% mortgage rate.

How long does it take to sell a home in North Kona right now?
Homes are averaging 83 days on market, longer than in recent tighter years, though well-priced properties are still moving within that window.

How much are sellers negotiating off their asking price?
North Kona's final list price to sold price ratio is 91.82%, meaning sellers are typically accepting about 8% below their original list price.

Should I wait for mortgage rates to drop before buying?
Rates have been climbing through July 2026, from 6.43% early in the month to 6.58% by July 23, so there's no clear signal that waiting will bring a lower rate in the near term.

Sources

Rhondall Rapoza, Realtor® | Island Land Company Inc. | RB-19468
Phone: (808) 329-7170 | Email: rhonnie@rhonnierapoza.com
Curious what your home is worth? Find out instantly → https://www.islandlandcompany.com/home-value/