Maui Land Report For November, 2020:

This is the November 2020 market report for land sold on Maui Hawaii during October 2020.

Maui Land Sales October 2020: In October 28 parcels of land sold on Maui with a median price of $630,000. At the end of October there were 254 parcels of land for sale on Maui. Haiku had the highest number of sold vacant parcels with 6 sold properties during October. Wailea/Makena had the highest median sale price for sold vacant land on Maui with a median sale price of $1,799,500 in October. 

Maui Land Sales Year To Date: Through October, 155 total parcels of land have sold on Maui with a median price of $463,750 and an average price of $737,078. The median sale price has decreased 7.25% during 2020. The average sale price has decreased 20.7% during 2020. Haiku has the highest number of sold land during 2020 with 41 total sales while Spreckelsville has the highest median sale price for sold land with a median sale price of $2,275,000 during 2020. Only two parcels of land has sold in Spreckelsville year to date. Maui land sales are down .6% compared to the same period through October 2019. More vacant lots sold during August, September, and October 2020 then August, September, and October 2019 which shows that sales activity for vacant land on Maui is recovering.

Maui Land Sales 2019: During 2019 176 parcels of land sold on Maui with a median price of $500,000 and an average price of $929,401. The median sale price for land on Maui increased 3.6% during 2019. Haiku had the highest number of sold vacant land during 2019 with 39 total sales while Lahaina had the highest median sale price for sold vacant land with a median sale price of $1,504,500 during 2019.

*COVID-19 will likely have an impact on the Maui Real Estate Market. It is too early to tell how it may affect the longterm local  market for land. With Real Estate Agents considered nonessential throughout Maui County through parts of March and April no showings of land were allowed. This has affected pending land sales for March and April and closed sales starting in April, 2020. We had a decrease in sold land on Maui May through July. Sales volume is up the last three months which shows buyer confidence and a rebound in the vacant land market on Maui. Total sales are almost identical to this same time last year although median and average sales prices are down.

Maui Land Sales October, 2020:

Maui Land Sales Year To Date Through October, 2020:

Maui Land For Sale

Maui Condo Report For November 2020:

This is the November 2020 condominium market report for condos sold on Maui Hawaii through October 2020.

Maui Condo Sales October 2020: In October 121 condominiums sold on Maui with a median price of $587,800 and an average price of $914,173. At the end of October there were 758 condominiums for sale on Maui which is approximately 7.6 months of inventory. Kihei had the highest number of sold condos with 41 in October while Kapalua had the highest median sale price for sold condos with a median sale price of $2,300,000 in October. Five condominiums sold in Kapalua during October.

Maui Condo Sales Year To Date: Through October 1,036 total condos have sold on Maui with a median price of $565,000 and an average price of $802,326. This includes both fee simple and leasehold condos. The median sale price has increased 9.6% during 2020. The average sale price has increased 14.5% during 2020. Kihei has the highest number of sold condos during 2020 with 341 total sales while Wailea/Makena has the highest median sale price for sold condos with a median sale price of $1,285,000 during 2020. The average Days On Market for sold condominiums on Maui is 146 during 2020. Maui condos have sold for an average of 97.2% of list price during 2020. Maui condo sales are down 22.8% compared to the same period through October 2019

2019 Maui Condo Sales: 1,606 total condos sold on Maui with a median price of $515,500 and an average price of $700,943. This includes both fee simple and leasehold condos. The median sale price increased 3.1% during 2019. The average sale price decreased 3.1% during 2019. Kihei had the highest number of sold condos during 2019 with 643 total sales while Wailea/Makena had the highest median sale price for sold condos with a median sale price of $1,199,000 during 2019. The average Days On Market for sold condominiums on Maui was 132 during 2019. Maui condos sold for an average of 97.5% of list price during 2019.

Maui Fee Simple Condo Sales Year To Date: Through October, 959 total fee simple condos have sold on Maui with a median price of $590,000 and an average price of $839,695. The median sale price for fee simple condos has increased 12.4% during 2020. The average sale price for fee simple condos has increased 16.6% during 2020. Kihei has the highest number of sold fee simple condos through October 2020 with 333 total sales while Kaanapali has the highest median sale price for sold fee simple condos with a median sale price of $1,375,000 through October 2020.

2019 Fee Simple Maui Condo Sales: 1,536 total fee simple condos sold on Maui with a median price of $525,000 and an average price of $720,007. The median sale price for fee simple condominiums increased 3.1% during 2019. The average sale price for fee simple condominiums decreased 3.1% during 2019. Kihei had the highest number of sold fee simple condos during 2019 with 637 total sales while Wailea/Makena had the highest median sale price for sold fee simple condos with a median sale price of $1,199,000 during 2019.

Maui Leasehold Condo Sales Year To Date: Through October, 77 total leasehold condos have sold on Maui with a median price of $276,000 and an average price of $336,907. Napili/Kahana/Honokowai has the highest number of sold leasehold condos through October 2020 with 29 total sales while Kaanapali has the highest median sale price for sold leasehold condos with a median sale price of $410,000 through October, 2020.

2019 Leasehold Maui Condo Sales: 70 total leasehold condos sold on Maui with a median price of $237,500 and an average price of $282,624. Napili/Kahana/Honokowai had the highest number of sold leasehold condos during 2019 with 37 total sales while Kihei had the highest median sale price for sold leasehold condos with a median sale price of $480,950 during 2019.

*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 seven months we have seen home and condominium sales decrease significantly. Condos have been impacted more than homes. Maui condo values have decreased three out of the last seven months. Maui condo sales were down 9% compared to October 2019. Total condominiums sales on Maui are down 22.8% in 2020 compared to the same time period during 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 large increase in condos available for sale. Trends are just now starting to show the affect COVID has had on Maui condo sales. These trends are showing that we may see a possible decrease in Maui condo values if inventory continues to increase and demand remains low. So far condo values on Maui have increased during 2020. 

**Condominium sales on Maui decreased for the seventh consecutive month compared to what we would normally see. Median condo values have decreased three out of the last seven months. Maui condos are often purchased as second properties or investment properties. Reduced flights and the previously required quarantine has prevented many buyers from being able to travel to Maui to view properties. Concerns over the economy likely has affected both pending and recent condominium sales on Maui. Condo sales activity on Maui is way down compared to normal. Condo inventory has increased with 7.6 months of inventory at this time. During October 2019 there was 3.9 months of inventory. With the amount of inventory and reduced demand we are on the cusp of seeing a buyers market for Maui condominiums. The typical rule of thumb is 6 plus months of inventory is considered a buyers market. We may be on the verge of seeing Maui condo values possible decrease if Hawaii's economy does not return to normal. Visitors started to return October 15, 2020. It may take a few more months to see if visitor activity helps improve the condominium market on Maui.

Maui Condo Sales October, 2020:

Maui Condo Sales Year To Date Through October, 2020:

Maui Fee Simple Condo Sales Year To Date Through October, 2020:

Maui Leasehold Condo Sales Year To Date Through October, 2020:

Maui Condo Search

Maui Single Family Home Report For November, 2020:

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

In October 107 single family homes sold on Maui with a median price of $867,500 and an average price of $1,224,740. At the end of October there were 338 single family homes for sale on Maui which is approximately 3.8 months of inventory. Wailuku and Kahului had the highest number of sold homes with 16 sold homes each during October while Kapalua had the highest median sale price for sold homes with a median sale price of $3,326,000 in October. One home sold in Kapalua during October 2020.

Through October, 848 single family homes have sold on Maui with a median price of $785,125 and an average price of $1,104,887. The median sale price has increased 5.9% during 2020. The average sale price has increased 2.2% during 2020. Wailuku has the highest number of sold homes with 195 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 138 during 2020. Maui homes are selling for an average of 97% of list price during 2020. Maui single family home sales are down 10.6% compared to the same period through October 2019.

2019 Maui Single Family Homes: 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 10.6% from the same time period last year through September 2019. Median home values have continued to increase. Inventory levels are still decreasing 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 partially 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. Over the last seven months we have seen home and condominium sales decrease significantly. 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.

Maui Home Sales October, 2020:

Maui Home Sales Year To Date Through October, 2020:

Maui Home Search

Here are the island wide Maui sales stats for homes and condos for November, 2020. The sales stats are for homes and condominiums sold on Maui through October, 2020. The amount of single family homes that sold in October decreased slightly compared to September and was 7.7% lower than October 2019. During October the median sale price for homes increased compared to September. Inventory for single family homes has continued to decrease which is fueling demand and a steady increase in values during 2020. The amount of condominiums that sold in October increased significantly compared to September. Although condominium sales increases in October compared to September the amount of condominium sales on Maui during October was 9% lower than October 2019. During October the median sale price for condos increased significantly compared to September. 

*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 seven months we have seen home and condominium sales decrease. Home sales have rebounded the past four to five months, but condo sales are very low compared to what we typically see. 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 seven months, and condominium inventory is increased significantly. 

Single Family Homes:

In October 96 single family homes sold with a median price of $867,500 and an average price of $1,224,740. At the end of October there were 338 single family homes for sale on Maui which is approximately 3.8 months of inventory. During October 2019 there were 488 homes for sale. The amount of homes for sale on Maui has decreased 30.7% over the past year. Demand for Maui homes is high and inventory is low. This is pushing values up.

Through October 848 single family homes have sold with a median price of $786,125 and an average price of $1,104,887. The median sale price has increased 5.9% during 2020. The average sale price has increased 2.2% during 2020. The average Days On Market for sold homes on Maui is 138 during 2020. Maui homes are selling for an average of 97% 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.

Condominiums:

In October 121 condominiums sold with a median price of $587,800 and an average price of $914,173. At the end of October there were 758 condominiums for sale on Maui which is approximately 7.6 months of inventory. The amount of condominiums for sale on Maui has increased 49.2% over the past year. October was one of the best months for condominium sales on Maui since the start of COVID. 

Through October 1,036 condominiums have sold with a median price of $565,000 and an average price of $802,326. The median sale price has increased 9.6% during 2020. The average sale price has increased 14.5% during 2020. The average Days On Market for sold condominiums on Maui is 146 during 2020. Maui condos have sold for an average of 97.2% 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 after several months of sluggish sales compared to what we would normally see. Although Maui condo sales improved during October, 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 seven 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 7.6 months of inventory at this time. During October 2019 there was 3.9 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.

***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. 

Maui Real Estate Search

The ten most expensive luxury condominiums for sale on Maui Hawaii October, 2020. These luxury condos have list prices ranging from $6M to $16M. Six 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 four luxury condos are located on West Maui. All four 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:

4000 Wailea Alanui Unit 1601, Kihei — Wailea Point I Ii Iii $16,000,000

Unbelievable oceanfront location with TWO huge ocean-facing lanais. Rare “double” unit with enormously spacious main living area - all on ONE level for easy living. 180...

• 3BEDS
• 3BATHS
• 388838MLS
• Wailea Point I Ii IiiBLDG.
• Fee SimpleTENURE

Listing courtesy of Wailea Point Realty, Inc..

3550 Wailea Alanui Unit E 4, Kihei — Andaz Residences $9,950,000 ▼

The Andaz Residences Maui offer unparalleled luxury and views! Situated on the grounds of the Andaz Hotel, you have all the privacy of your own oceanfront home, with all ...

• 3BEDS
• 4BATHS
• 386110MLS
• Andaz ResidencesBLDG.
• Fee SimpleTENURE

Listing courtesy of Berkshire Hathaway Maui Prop-W.

1 Bay DR Unit 1205, Lahaina — Montage Residences Kapalua Bay $7,500,000

Most prime 3 bedroom Montage Residence located in prestigious Building 1 with close proximity to Kapalua Bay and the Beach Club. Residence 1205 is the only unit at The Mo...

• 3BEDS
• 3.5BATHS
• 387915MLS
• Montage Residences Kapalua BayBLDG.
• Fee SimpleTENURE

Listing courtesy of Hawaii Life (KAP).

4000 Wailea Alanui Unit 1104, Kihei — Wailea Point I Ii Iii $7,200,000

A cut above the rest! Wailea Point 1104 is situated high above the world-famous oceanfront walkway with it’s spectacular cliffs. This is an upstairs two-story condominium...

• 3BEDS
• 5BATHS
• 387987MLS
• Wailea Point I Ii IiiBLDG.
• Fee SimpleTENURE

Listing courtesy of Coldwell Banker Island Prop(S).

4000 Wailea Alanui Unit 1504, Kihei — Wailea Point I Ii Iii $6,975,000

The buyer will enjoy brand new windows in this unit! Paid for by seller, this fulfills the AOAO’s window replacement mandate of January 2018. Phenomenal, artisan quali...

• 3BEDS
• 4BATHS
• 385739MLS
• Wailea Point I Ii IiiBLDG.
• Fee SimpleTENURE

Listing courtesy of Wailea Point Realty, Inc..

4000 Wailea Alanui Unit 602, Kihei — Wailea Point I Ii Iii $6,875,000

Just possibly Wailea Point’s most modern and exquisite interior – completely remodeled by acclaimed contractor Ben Cerda in 2019. World class oceanfront location 75 feet...

• 3BEDS
• 3BATHS
• 388489MLS
• Wailea Point I Ii IiiBLDG.
• Fee SimpleTENURE

Listing courtesy of Wailea Point Realty, Inc..

1 Bay Unit 2403, Lahaina — Montage Residences Kapalua Bay $6,650,000

Absolute elegance is what Montage has become known for. With an exceptional location on the pristine Kapalua coast, this luxurious and spacious property has 3 bedrooms & ...

• 3BEDS
• 3.5BATHS
• 386849MLS
• Montage Residences Kapalua BayBLDG.
• Fee SimpleTENURE

Listing courtesy of Wailea Realty+WindermereRE (W).

1 Bay Unit 2203, Lahaina — Montage Residences Kapalua Bay $6,325,000

Welcome to "Ocean Dreams" Villa 2203, a full-ownership fee simple condominium home at the Montage Grand Residences at Kapalua Bay. This panoramic ocean view front-row vil...

• 3BEDS
• 3.5BATHS
• 385539MLS
• Montage Residences Kapalua BayBLDG.
• Fee SimpleTENURE

Listing courtesy of Private Paradise Villas.

3800 WAILEA ALANUI Unit 308, Kihei — Wailea Beach Villas $6,198,000

It is not very often you find a property that so exemplifies the spirit of Hawaii living with its panoramic ocean view, spacious interior living arrangement (over 2800 sq...

• 3BEDS
• 3BATHS
• 386847MLS
• Wailea Beach VillasBLDG.
• Fee SimpleTENURE

Listing courtesy of Wailea Realty+WindermereRE (W).

1 Bay Unit 5404, Lahaina — Montage Residences Kapalua Bay $5,990,000

Montage 5404 is a rare high floor 3-bedroom 3.5-bathroom Residence boasting sweeping views of the West Maui Mountains down to the Pacific Ocean. This breathtaking corner ...

• 3BEDS
• 3.5BATHS
• 388541MLS
• Montage Residences Kapalua BayBLDG.
• Fee SimpleTENURE

Listing courtesy of Powerplay Destination Prop HI

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

The ten most expensive homes listed for sale on Maui Hawaii October, 2020. These luxury homes have list prices ranging from $13M to $37.5M. Six of the homes are located on South Maui in Kihei, Makena, and Wailea. Two of the homes, including the most expensive home for sale on Maui are located on West Maui. One is in Kapalua and one in Kaanapali. One home is located on North Shore Maui in Haiku. One home is located Upcountry in Kula. 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

9 BAY, Lahaina $37,500,000

Boasting nearly ten captivating acres of oceanfront, 9 Bay Drive is the crown jewel of conservation land known as Hawea Point in West Maui. Nestled into the prime locatio...

• 8BEDS
• 8.5BATHS
• 384865MLS
• Fee SimpleTENURE

Listing courtesy of Hawaii Life (KAP).

20 KAI ALA, Lahaina $24,500,000

Kaanapali’s Beachfront Masterpiece! Located on close to one acre of land, just north of Black Rock and the Sheraton Hotel, this exquisite estate boasts stunning views of ...

• 8BEDS
• 9.5BATHS
• 384903MLS
• Fee SimpleTENURE

Listing courtesy of Hawaii Life (KAP).

7750 Makena, Kihei $24,000,000

Located on 3.23 acres of stunning oceanfront, Pono Makena is a secluded and cherished property of Hawai’i. Charged with a sense of serenity and wellbeing, this gated have...

• 3BEDS
• 2BATHS
• 388759MLS
• Fee SimpleTENURE

Listing courtesy of Corcoran Pacific Properties.

4550 Makena, Kihei $23,500,000

Makena Perfection. Located South of the Fairmont Kea Lani Hotel, and only steps away from Palauea Bay, 4550 Makena Road is one of the finest properties in the entire stat...

• 4BEDS
• 5BATHS
• 388300MLS
• Fee SimpleTENURE

Listing courtesy of Coldwell Banker Island Prop(S).

4557 Makena, Kihei $23,000,000

Rare Keauhou at Makena Estate offers sophisticated, contemporary flair and over three acres of manicured tropical landscaping making it both an ideal private retreat and ...

• 5BEDS
• 4.5BATHS
• 385175MLS
• Fee SimpleTENURE

Listing courtesy of Coldwell Banker Island Prop(S).

180 Door of Faith, Haiku $22,000,000

Live a life surrounded by stunning natural beauty on this “one of a kind” Estate situated on Maui’s North Shore. This Majestic property offers gorgeous panoramic views. T...

• 4BEDS
• 3BATHS
• 388852MLS
• Fee SimpleTENURE

Listing courtesy of Coldwell Banker Island Prop(L).

5050 Makena, Kihei $19,995,000

Stunning contemporary direct oceanfront estate perfectly situated on an intimate cove on the Makena Maui shoreline. Striking ocean and coastal views with whales and turtl...

• 5BEDS
• 5.5BATHS
• 385480MLS
• Fee SimpleTENURE

Listing courtesy of Coldwell Banker Pacific Prop..

4478 Makena, Kihei $17,500,000

The perfect house...If Goldilocks was buying in Makena she would look at this home and say it's not too BIG ... it's not too small...But it is Just Right! If you are sear...

• 3BEDS
• 3.1BATHS
• 387740MLS
• Fee SimpleTENURE

Listing courtesy of Wailea Realty+WindermereRE (W).

50 Oluolu, Kula $15,000,000

This Estate is incomparable to any other Maui property. Nestled amidst the clouds is this magical place. Beauty surrounds you in your own private gated retreat. This Gran...

• 4BEDS
• 4BATHS
• 388207MLS
• Fee SimpleTENURE

Listing courtesy of LUVA Real Estate.

7381 Makena, Kihei $12,990,000

Hale Makana Ola is an oceanside property designed for wellness, relaxation, privacy, and sublime Pacific views. Molokini, Kaho’olawe, and Lanai are a highlight of the oce...

• 3BEDS
• 3.5BATHS
• 388843MLS
• Fee SimpleTENURE

Listing courtesy of Hawaii Life (W).

Maui Land Report For October, 2020:

This is the October 2020 market report for land sold on Maui Hawaii during September 2020.

Maui Land Sales September 2020: In September 17 parcels of land sold on Maui with a median price of $580,000. At the end of September there were 258 parcels of land for sale on Maui. Haiku and Kula/Ulupalakua/Kanaio had the highest number of sold vacant parcels with 5 sold properties each during September. Kapalua had the highest median sale price for sold vacant land on Maui with a median sale price of $850,000 in September. One parcel of land sold in Kapalua during September. 

Maui Land Sales Year To Date: Through September, 124 total parcels of land have sold on Maui with a median price of $430,000 and an average price of $707,464. The median sale price has decreased 14% during 2020. The average sale price has decreased 23.9% during 2020. Haiku has the highest number of sold land during 2020 with 34 total sales while Spreckelsville has the highest median sale price for sold land with a median sale price of $2,275,000 during 2020. Only one parcel of land has sold in Spreckelsville year to date. Maui land sales are down 11.4% compared to the same period through September 2019. More vacant lots sold during August and September 2020 than August and September 2019 which may show that sales activity is recovering.

Maui Land Sales 2019: During 2019 176 parcels of land sold on Maui with a median price of $500,000 and an average price of $929,401. The median sale price for land on Maui increased 3.6% during 2019. Haiku had the highest number of sold vacant land during 2019 with 39 total sales while Lahaina had the highest median sale price for sold vacant land with a median sale price of $1,504,500 during 2019.

*COVID-19 will likely have an impact on the Maui Real Estate Market. It is too early to tell how it may affect the longterm local  market for land. With Real Estate Agents considered nonessential throughout Maui County through parts of March and April no showings of land were allowed. This has affected pending land sales for March and April and closed sales starting in April, 2020. We had a decrease in sold land on Maui May through July. Sales volume is up the last two months which may show buyer confidence and a slight rebound in the vacant land market on Maui.

Maui Land Sales September, 2020:

Maui Land Sales Year To Date Through September, 2020:

Maui Land For Sale

Maui Condo Report For October 2020:

This is the October 2020 condominium market report for condos sold on Maui Hawaii through September 2020.

Maui Condo Sales September 2020: In September 85 condominiums sold on Maui with a median price of $495,000 and an average price of $718,181. At the end of September there were 754 condominiums for sale on Maui which is approximately 7.6 months of inventory. Kihei had the highest number of sold condos with 24 in September while Kapalua had the highest median sale price for sold condos with a median sale price of $2,850,000 in September. One condominium sold in Kapalua during September.

Maui Condo Sales Year To Date: Through September 915 total condos have sold on Maui with a median price of $560,000 and an average price of $787,535. This includes both fee simple and leasehold condos. The median sale price has increased 8.6% during 2020. The average sale price has increased 12.4% during 2020. Kihei has the highest number of sold condos during 2020 with 300 total sales while Wailea/Makena has the highest median sale price for sold condos with a median sale price of $1,225,000 during 2020. The average Days On Market for sold condominiums on Maui is 149 during 2020. Maui condos have sold for an average of 97.3% of list price during 2020. Maui condo sales are down 24.3% compared to the same period through September 2019

2019 Maui Condo Sales: 1,606 total condos sold on Maui with a median price of $515,500 and an average price of $700,943. This includes both fee simple and leasehold condos. The median sale price increased 3.1% during 2019. The average sale price decreased 3.1% during 2019. Kihei had the highest number of sold condos during 2019 with 643 total sales while Wailea/Makena had the highest median sale price for sold condos with a median sale price of $1,199,000 during 2019. The average Days On Market for sold condominiums on Maui was 132 during 2019. Maui condos sold for an average of 97.5% of list price during 2019.

Maui Fee Simple Condo Sales Year To Date: Through September, 844 total fee simple condos have sold on Maui with a median price of $586,250 and an average price of $825,408. The median sale price for fee simple condos has increased 11.7% during 2020. The average sale price for fee simple condos has increased 14.6% during 2020. Kihei has the highest number of sold fee simple condos through September 2020 with 293 total sales while Kaanapali has the highest median sale price for sold fee simple condos with a median sale price of $1,550,000 through September 2020.

2019 Fee Simple Maui Condo Sales: 1,536 total fee simple condos sold on Maui with a median price of $525,000 and an average price of $720,007. The median sale price for fee simple condominiums increased 3.1% during 2019. The average sale price for fee simple condominiums decreased 3.1% during 2019. Kihei had the highest number of sold fee simple condos during 2019 with 637 total sales while Wailea/Makena had the highest median sale price for sold fee simple condos with a median sale price of $1,199,000 during 2019.

Maui Leasehold Condo Sales Year To Date: Through September, 71 total leasehold condos have sold on Maui with a median price of $260,000 and an average price of $337,336. Napili/Kahana/Honokowai has the highest number of sold leasehold condos through September 2020 with 29 total sales while Kaanapali has the highest median sale price for sold leasehold condos with a median sale price of $412,500 through September, 2020.

2019 Leasehold Maui Condo Sales: 70 total leasehold condos sold on Maui with a median price of $237,500 and an average price of $282,624. Napili/Kahana/Honokowai had the highest number of sold leasehold condos during 2019 with 37 total sales while Kihei had the highest median sale price for sold leasehold condos with a median sale price of $480,950 during 2019.

*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 six months we have seen home and condominium sales decrease significantly. Condos have been impacted more than homes. Maui condo values have decreased three out of the last four months. Maui condo sales were down 28.6% compared to September 2019. Total condominiums sales on Maui are down 24.3% in 2020 compared to the same time period during 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 large increase in condos available for sale. Trends are just now starting to show the affect COVID has had on Maui condo sales. These trends are showing that we may see a possible decrease in Maui condo values if inventory continues to increase and demand remains low. 

**Condominium sales on Maui decreased for the sixth consecutive month compared to what we would normally see. Median condo values have decreased three out of the last four months. Maui condos are often purchased as second properties or investment properties. Reduced flights and required quarantine has prevented many buyers from being able to travel to Maui to view properties. Concerns over the economy likely has affected both pending and recent condominium sales on Maui. Condo sales activity on Maui is way down compared to normal. Condo inventory has increased with 7.6 months of inventory at this time. During September 2019 there was 3.6 months of inventory. With the amount of inventory and reduced demand we are on the cusp of seeing a buyers market for Maui condominiums. The typical rule of thumb is 6 plus months of inventory is considered a buyers market. We may be on the verge of seeing Maui condo values possible decrease if Hawaii's economy does not open back up. Visitors will be able to return starting October 15, 2020. It may take a few more months to see if visitor activity helps improve the condominium market on Maui.

Maui Condo Sales September, 2020:

Maui Condo Sales Year To Date Through September, 2020:

Maui Fee Simple Condo Sales Year To Date Through September, 2020:

Maui Leasehold Condo Sales Year To Date Through September, 2020:

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