FWIW, I own ukulele made from: koa, mango, mahogany, and laminated Australian pine tops (Fluke and Flea). They all have strengths and weaknesses tonally, just like guitars made from different woods. If you really cannot try in person, it is hard to go wrong with either koa or mahogany. My current favorite uke is an all-koa Big Island Ukulele Company "Honu" model tenor. My wife has a hand-made Mya Moe tenor in all mahogany.
If left with only one choice, I would probably go for koa -- Hawaiian instrument, use Hawaiian wood. But don't expect to get into one of those for less than $500 these days, even with imports, and often used. Probably not real helpful, but it would take a whole page trying to describe the comparative tone. IMO string choice and playing technique would still have nearly as much influence on the tone in the end as wood choice.
BTW, acacia koa is a distinct species that only grows on Hawaii Island. Acacia of other varieties grows in New Zealand, Indonesia and other places around the Pacific Rim. It is similar to Hawaiian koa (although usually not as highly figured) and is most often found on sub-$250 instruments that use "acacia". Think of acacia versus true koa in the same way you might think of sapele or khaya wood versus genuine Honduran mahogany on a guitar.
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