Maui Real Estate Blog, News, Sales Trends, & More

You’ll find our Maui Blog to be a wealth of information, covering everything from homes, condos, and land for sale, local market statistics, average sale prices, median sale prices, community events, restaurants, beaches, and things to do on Maui. We love Maui and want to share our knowledge and experience. Please reach out if you have any questions at all. We’d love to talk with you!

Maui Real Estate News and Trends

Maui Real Estate News and Trends

 

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Dec. 29, 2020

Maui Hawaii Real Estate Market Report For Single Family Homes December 2020

Maui Single Family Home Report For December, 2020:

This is the December, 2020 real estate market report for single family homes sold on Maui Hawaii through November, 2020.

Maui Home Sales November 2020: In November 107 single family homes sold on Maui with a median price of $852,500 and an average price of $1,277,878. At the end of November there were 330 single family homes for sale on Maui which is approximately 3.8 months of inventory. Wailuku had the highest number of sold homes with 16 sold homes during November while Kapalua had the highest median sale price for sold homes with a median sale price of $3,098,000 in November. Four homes sold in Kapalua during November 2020.

Maui Home Sales Year To Date: Through November, 950 single family homes have sold on Maui with a median price of $790,000 and an average price of $1,123,480. The median sale price has increased 6.6% during 2020. The average sale price has increased 3.9% during 2020. Wailuku has the highest number of sold homes with 211 in 2020. Kapalua has the highest median sale price for sold homes with a median sale price of $3,063,000 in 2020. The average Days On Market for sold homes on Maui is 136 during 2020. Maui homes are selling for an average of 97.1% of list price during 2020. Maui single family home sales are down 7.1% compared to the same period through November 2019.

2019 Maui Single Family Home Sales: 1,117 single family homes sold on Maui with a median price of $741,355 and an average price of $1,081,560. The median sale price increased 4.4% during 2019. The average sale price increased 5.7% during 2019. Wailuku had the highest number of sold homes during 2019 with 248 total sales while Kapalua had the highest median sale price for sold homes with a median sale price of $2,550,000 through during 2019. The average Days On Market for sold homes during 2019 was 133 days. Homes sold for an average of 96.7% of list price during 2019.

*It is common for home prices to increase this time of year due to it being peak season for Maui. This year is very different. Maui home sales have decrease, inventory has decreased, and values continue to increase.

**Total Maui home sales are down over 7.1% from the same time period last year through November 2019. Median home values have continued to increase. Inventory levels have remained low which is likely helping to keep home values stable. Concerns over the economy likely has affected both pending and recent home sales on Maui, but both home sales and pending sales have rebounded since June. At this point, low inventory and low interest rates are fueling buyer demand. As long as inventory remains low we can likely expect Maui home values to continue to increase for the near future. If we do see inventory increase we may see home values plateau and possibly decrease. There is no sign of this happening anytime soon.

***COVID-19 continues to impact the Maui Real Estate Market. It is too early to tell how it may affect the local housing market longterm. In June home sales started to rebound. Although homes sales activity has rebounded, activity is still lower than what we saw during the same time period in 2019. With Real Estate Agents considered nonessential throughout Maui County through parts of March and April no showings of homes or condominiums were allowed. This affected pending sales for March and April, 2020 and closed sales starting in April and May, 2020. We have seen a decrease in new listing activity. Trends are just now starting to show the affect COVID has had on Maui real estate sales. Unusually low inventory with low interest rates is fueling the increase of home values at this time on Maui. As long as home inventory and interest rates remain low we can expect this trend to continue.

****Tourism on Maui open back up starting October 15, 2020. According to the State of Hawaii, if all goes well it may take as many as three years for tourism to return to pre COVID levels. It may take many months before we start to see how tourism may impact the Maui housing market. November data showed that occupancy at resorts and vacation condos was around 20% in November. Normal occupancy rates in November are closer to 80%.

Maui Home Sales November, 2020:

Maui Single Family home sales November 2020.

Maui Home Sales Year To Date Through November, 2020:

Maui Hawaii single family home sale statistics through November 2020.

Maui Home Search

Dec. 29, 2020

Maui Hawaii Real Estate Market Report December, 2020

Here are the island wide Maui sales stats for homes and condos for December, 2020. The sales stats are for homes and condominiums sold on Maui through November, 2020. The amount of single family homes that sold in November increased slightly compared to October and was 37.8% higher than November 2019. Total homes sales on Maui are down 7.1% compared to the same time period in 2019. During November the median sale price for homes decreased slightly compared to October. Inventory for single family homes has continued to remain low which is fueling demand and a steady increase in values during 2020. The amount of condominiums that sold in November increased compared to October. Although condominium sales increased in November compared to October the amount of condominium sales on Maui during November was 8.5% lower than November 2019. During November the median sale price for condos decreased compared to October. 

*COVID-19 continues to impact the Maui Real Estate Market. It is too early to tell how it may affect the local housing market longterm. Over the last eight months we have seen home and condominium sales decrease. Home sales have rebounded the past five to six months and condo sales have rebounded recently, although total condo sales for 2020 are well below 2019 sales. With Real Estate Agents considered nonessential throughout Maui County through parts of March and April no showings of homes or condominiums were allowed. This affected pending sales for March and April, 2020 and closed sales starting in April and May, 2020. We have seen a decrease in new listing activity for homes and a large increase in new listing activity for condominiums. Trends are just now starting to show the affect COVID has had on Maui real estate sales. These trends are showing that home values have remained strong due to low inventory levels. Condo sales are way down, condo values decreased three out of the last eight months, and condominium inventory is increased significantly. Recently we have seen improvement with condominium sales on Maui.

Single Family Homes:

In November 102 single family homes sold with a median price of $852,500 and an average price of $1,277,878. At the end of November there were 330 single family homes for sale on Maui which is approximately 3.8 months of inventory. During November 2019 there were 482 homes for sale. The amount of homes for sale on Maui has decreased 31.5% over the past year. Demand for Maui homes is high and inventory is low. This is pushing values up.

Through November 950 single family homes have sold with a median price of $790,000 and an average price of $1,123,480. The median sale price has increased 6.6% during 2020. The average sale price has increased 3.9% during 2020. The average Days On Market for sold homes on Maui is 136 during 2020. Maui homes are selling for an average of 97.1% of list price during 2020.

2019 Home Sales: 1,117 single family homes sold with a median price of $741,355 and an average price of $1,081,560. The median sale price increased 4.4% during 2019. The average sale price increased 5.4% during 2019. The average Days On Market for sold homes on Maui was 133 during 2019. Maui homes sold for an average of 96.7% of list price during 2019.

**Home sales on Maui decreased significantly in May compared to April, partially rebounded in June, and have returned to almost normal since July. Median home values are continuing to increase. Inventory levels are slowly decreasing which is likely helping to keep home values stable. Concerns over the economy have likely been a factor contributing to the low inventory. I have seen more homes than usual priced below $700K listed for sale the last six months. These may be homeowners who need to sell and have priced their homes below market value for a quick sale. If this is the case, we could possibly see home values start to decrease until the local economy starts to recover and residents are able to go back to work. There are concerns that impacted homeowners may not be able to pay their mortgages and we could even see some homeowners start losing their homes. At this time home values are still continuing to increase on Maui while inventory continues to decrease. As long as inventory for single family homes remains low we can expect home values on Maui to continue to increase.

***Tourism on Maui opened back up October 15, 2020. According to the State of Hawaii, if all goes well it may take as many as three years for tourism to return to pre COVID levels. It may take many months before we start to see how tourism may impact the Maui housing market. November data showed that occupancy at resorts and vacation condos was around 20% in November. Normal occupancy rates in November are closer to 80%.

Condominiums:

In November 130 condominiums sold with a median price of $518,520 and an average price of $886,023. At the end of November there were 713 condominiums for sale on Maui which is approximately 7.1 months of inventory. The amount of condominiums for sale on Maui has increased 33.5% over the past year. October and November were two of the best months for condominium sales on Maui since the start of COVID. 

Through November 1,166 condominiums have sold with a median price of $560,000 and an average price of $811,658. The median sale price has increased 8.6% during 2020. The average sale price has increased 15.8% during 2020. The average Days On Market for sold condominiums on Maui is 143 during 2020. Maui condos have sold for an average of 97.3% of list price during 2020.

2019 Condo Sales: 1,606 condominiums sold with a median price of $515,500 and an average price of $700,943. The median sale price increased 7.7% during 2019. The average sale price increased 3.1% during 2019. The average Days On Market for sold condominiums on Maui was 138 during 2019. Maui condos sold for an average of 97.5% of list price during 2019.

**Condominium sales on Maui rebounded in October and November after several months of sluggish sales compared to what we would normally see. Although Maui condo sales improved during October and November, sales for the year are way down and surprisingly median condo values overall are up compared to 2019. With that being said we have seen condo values down three out of the last eight months. Maui condos are often purchased as second properties or investment properties. Reduced flights and previously required quarantine had prevented many buyers from being able to travel to Maui to view properties. Concerns over the economy has affected both pending and recent condominium sales on Maui. Condo inventory is way up with 7.1 months of inventory at this time. During November 2019 there was 4 months of inventory. With the amount of inventory and reduced demand we are on the cusp of seeing a buyers market for Maui condominiums. If tourism does not return to normal levels on Maui there is a possibility that we could see condominium prices decrease and there is the very real potential of owners losing properties due to foreclosure if they cannot generate rental income to assist with covering mortgage payments. With two consecutive months of increased sales it appears that the Maui condominium market may be rebounding.

***Tourism on Maui open back up starting October 15, 2020. If all goes well it may take as many as three years for tourism to return to pre COVID levels. It may take many months before we start to see an improvement in the Maui condominium market even with tourism slowly returning. November data showed that occupancy at resorts and vacation condos was around 20% in November. Normal occupancy rates in November are closer to 80%.

Maui Hawaii home and condominium sales stats for November 2020.

Maui Real Estate Search

Dec. 8, 2020

The 10 Least Expensive Condominiums For Sale On Maui December 2020

The ten least expensive fee simple condominiums for sale on Maui Hawaii December, 2020. These condos have list prices ranging from $155,000 to $265,000. Six of the condos are located on Central Maui in Kahului and Wailuku. Four of the condominiums are located at the Harbor Lights development in Kahului. One of the condominiums is located at the Wailuku Manor development in Wailuku. One of the condominiums is located at the Puuone Towers and Plaza development in Wailuku. Four of the condominiums are located on West Maui. Two are located at the Honokowai East development in Honokowai. Two of the condominiums are located at Napili Sunset in Napili. Some of these condos are in need of updating and repairs. Others are in need of being fully remodeled. Several are updated and turnkey These condos can be great options for entry level buyers and investors. There are affordable condominiums for sale on Maui.

Please click the link below to view all the photos and detailed information about each property.

The Top 10 Least Expensive Condos Currently For Sale On Maui:

 

View the ten least expensive Leasehold condos currently for sale on Maui:

*Information for these properties has been provided by the Realtors Association Of Maui and the Paragon MLS which I am a member of. I am not the listing agent of these condos.*

Dec. 8, 2020

The Least Expensive Condominium For Sale On Maui December 2020

The least expensive fee simple condominium for sale located on the beautiful island of Maui
Hawaii December 2020. This affordable condo is located on Central Maui in Kahului. It is located in
the Harbor Lights development. The condo is currently listed at $155,000 and features 2 bedroom,
1.5 bathrooms, and is 787 square feet. Per MLS the condo is sold as-is. There is no indication
of when it was last updated. The Harbor Lights development was built in 1974. The initial list
price was $162,000. The condo has been on the market for 467 days at the time of this post. 
Please click the link below to see more information and photos of this condominium.

The Least Expensive Fee Simple Condo Currently For Sale On Maui:

111 Kahului Beach Unit B415, Kahului image

 

View the least expensive Leasehold Condo currently for sale on Maui:

*Information for this property has been provided by the Realtors Association Of Maui and the
Paragon MLS which I am a member of. I am not the listing agent of this condo.*
Dec. 8, 2020

The 10 Least Expensive Homes For Sale On Maui December 2020

The ten least expensive homes for sale on Maui Hawaii December, 2020. These homes have list prices ranging from $375,000 to $599,000. Two of the homes are located Upcountry in Makawao. Seven of the homes are located on Central Maui in Wailuku and Kahului. One of the homes is located on East Maui in Hana. Many of the home are in need of updating and repairs. Others are in need of being fully remodeled or torn down. There are also several new constructions options Upcountry in Makawao and Pukalani. These homes can be great options for entry level buyers and investors. Some need cosmetic updates and others are fixers. There are affordable homes for sale on Maui if you are open to a property needing a little TLC.

Please click the link below to view all the photos and detailed information about each property.

The Top 10 Least Expensive Homes Currently For Sale On Maui:

 

The Top 10 Least Expensive Homes Currently For Sale On Maui:

*Information for these properties has been provided by the Realtors Association Of Maui and the Paragon MLS which I am a member of. I am not the listing agent of these homes.*

Dec. 8, 2020

The Least Expensive Home For Sale On Maui December 2020

The least expensive home for sale located on the beautiful island of Maui Hawaii December, 2020.
This property is located on Central Maui in Wailuku. The home is essentially a studio with one
bathroom and sits on .1207 acres of land. The property is in need of repairs and is being sold
as-is. The initial list price was $450,000. The list price was reduced by $75,000 3 days ago.
The home has been on the market for 137 days at the time of this post. 
Please click the link below to see more information and photos of this home. 
Dec. 8, 2020

The 10 Most Expensive Condominiums For Sale On Maui December 2020

The ten most expensive luxury condominiums for sale on Maui Hawaii December, 2020. These luxury condos have list prices ranging from $6M to $14.9M. Five of the condos are located on South Maui in Makena and Wailea. Most are located at Wailea Point, one at Wailea Beach Villas, and one at the Andaz Residences. The remaining five luxury condos are located on West Maui. All five are at the Montage Residences Kapalua Bay in Kapalua. There is no shortage of unique luxury properties on the beautiful island of Maui!

Please click the link below to view all the photos and detailed information about each property.

The Top 10 Most Expensive Condos Currently For Sale On Maui:

 

The Top 10 Most Expensive Homes Currently For Sale On Maui:

*Information for these properties has been provided by the Realtors Association Of Maui and the
Paragon MLS which I am a member of. I am not the listing agent of these homes.*
Dec. 8, 2020

The Most Expensive Condominium For Sale On Maui December 2020

The most expensive condominium located for sale on the beautiful island of Maui Hawaii December 2020.
This luxury condo is located on the South Shore of Maui in Wailea at the oceanfront Wailea Point I Ii Iii
development. This amazing oceanfront condo is ground level and currently listed at $14,900,000 and
features 3 bedrooms and 3 bathrooms with stunning views. Per the MLS listing the condo was originally
built in 1987. The property was remodeled in 2007. The initial list price was $16,000,000 and was reduced
2 days ago by $1,100,000. The current listing was added to MLS October 5, 2020. The condo has been
on the market for 64 days at the time of this post.
The current owners paid $10,000,000 in May, 2006.
Please click the link below to see more information and photos of this condominium.
Dec. 2, 2020

The 10 Most Expensive Homes For Sale On Maui December 2020

The ten most expensive homes for sale on Maui Hawaii December, 2020. These luxury homes have list prices ranging from $12M to $24M. Six of the homes are located on South Maui in Kihei, Makena, and Wailea. Two homes are located on the North Shore in Haiku and Paia. One home is located Upcountry in Kula. One home is located on Central Maui in Wailuku. There is no shortage of unique luxury properties on the beautiful island of Maui!

Please click the link below to view all the photos and detailed information about each property.

The Top 10 Most Expensive Homes Currently For Sale On Maui

*Information for these properties has been provided by the Realtors Association Of Maui and the 
Paragon MLS which I am a member of. I am not the listing agent of these homes.*
Dec. 1, 2020

The Most Expensive Home For Sale On Maui December 2020

The most expensive home for sale located on the beautiful island of Maui Hawaii December, 2020.
This luxury estate is located on the South Shore of Maui in Makena at 7750 Makena Rd. The amazing
oceanfront home is currently listed at $24,000,000 and features 3 bedrooms and 2 bathrooms with
stunning views. The home also includes a 1 bedroom and 1 bathroom ohana guest house. It is not
clearly stated in the listing, but it is possible that the Airstream travel trailer may be considered the
ohana. Per MLS, the home was originally built in 1994. There is no indication if the home has been
remodeled. The total lot size is 3.23 acres which encompasses three individual lots. Two of the lots
are vacant land. The initial list price is $24,000,000. The home has been on the market for 64 days
at the time of this post. 
The current owners have owned the home since September, 2016. They paid $13,000,000 for the 
oceanfront property at that time. There is no mention of an ohana guest house in the MLS listing from
2016.
Please click the link below to see more information and photos of this home. 
*Information for this property has been provided by the Realtors Association Of Maui and the
Paragon MLS which I am a member of. I am not the listing agent of this home.*