Was Ralph Macchio considered for this one?

I always wondered... was Macchio offered a role in this one and rejected it or did they plan from the very beginning to cast someone else as main protagonist?
I realize a 10 year gap between the first movie and this one, but considering Macchio's slow aging, he still did not look too old to reprise his role once again. I know the title is "The Next Karate Kid", but that doesn't prove anything - they could've changed the title from "Karate Kid IV" to "The Next Karate Kid" after Macchio's decision. So, was Ralph ever meant to appear in this movie or not?