Valuable insights to aid your decision-making process regarding buying or selling real estate in Maui. Explore the array of articles covering Maui Real Estate Market Reports and Statistics for comprehensive information.

Maui Real Estate Market Update: Rising Inventory and Shifting Buyer Demand

The latest real estate data for Maui reveals noticeable changes across both the Single Family and Condominium markets. New listings for Single Family homes dipped slightly by 0.9%, while Condominium listings experienced a more significant decline of 15.3%. Pending sales were also down, 5.8% for Single Family homes and 2.5% for Condominiums suggesting a slowdown in buyer activity across the island. Meanwhile, inventory levels surged, with Single Family home inventory increasing by 54.8% and Condominium inventory jumping by 72.1%, offering prospective buyers more options than we’ve seen in recent months.

Pricing trends also shifted. The median sales price for Single Family…

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November 2024 Market Report Maui

Maui Real Estate Market Update: Sales Trends & Shifts in Prices

Let’s take a look at what’s happening in Maui’s real estate market right now.

New Listings & Pending Sales
New listings for Single Family homes on Maui have seen a significant jump, rising 33.3%, while condominium listings have barely budged, with only a 0.7% increase. As for pending sales, Single Family homes are doing well, up 3.2%, but condo sales have taken a notable downturn, dropping 35.8%.

Inventory Levels on the Rise
When it comes to inventory, there’s more for buyers to choose from. Single Family home inventory is up by 54.3%, and condo inventory has skyrocketed by 138.5%. That means more options for buyers, though the market is still adjusting to these shifts.

Price…

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How Is The Maui Market?

On Maui, we're seeing some interesting shifts in the real estate market.

  • New listings for single-family homes have increased by 17.0%, and for condos, they're up by 9.8%. This means more options are becoming available for buyers.
  • However, pending sales have taken a hit, dropping by 25.4% for single-family homes and 40.4% for condos. This indicates that fewer homes are going under contract right now.
  • Inventory levels have also risen significantly, with a 25.8% increase for single-family homes and a whopping 198.2% increase for condos. More homes on the market can be great news for buyers, giving them more choices.
  • Interestingly, while the median sales price for single-family homes has jumped by 30.8% to…

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How Is The Maui Market?

As you will see below, we are clearly in a buyer's market for condominiums, as months supply over six, is the threshold. There are a few events that are contributing this buyer's market. 

  • SB2919 is a major player in the changing condo market on Maui. The bill gives counties in Hawaii the power to regulate short-term vacation rentals, aiming to address the housing crisis by potentially reducing the number of short term rentals in Apartment zoning. This has increased Maui's condo inventory and is impacting more than just the short term rental properties.
  • Higher AOAO dues that we are seeing at many of the complexes, due to the result of insurance increases since the fires. We are seeing these increases in other sates…

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Maui April 2024 Year Over Year Statistics

In the latest Maui market update, we've seen some interesting trends: New listings rose by 3.7% for single-family homes and by an impressive 36.6% for condominiums. Pending sales also showed a positive trend, with single-family homes increasing by 5.8%, although there was a slight dip of 31.2% for condominiums. Inventory levels saw a moderate uptick of 1.8% for single-family homes, while condominiums experienced a significant increase of 141.0%.

In terms of pricing, both segments saw growth. The median sales price for single-family homes surged by 16.9% to reach $1,300,000, and condominiums also saw an increase of 8.4% to $962,500. However, there were mixed results in terms of market activity, as days on…

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February Market Statistics

National Statistics: In February 2024, there was notable growth in U.S. existing-home sales, with a 3.1% increase month-over-month, reaching a seasonally adjusted annual rate of 4.00 million homes. This exceeded the expectations of economists and represented the strongest sales pace since August 2023, as reported by the National Association of REALTORS® (NAR). The decline in interest rates towards the end of the previous year, combined with a recent rise in inventory, contributed to this increase, particularly following a decline in sales the previous month. The Midwest, South, and West regions all saw monthly gains.

As of February, the total inventory stood at 1.01 million units, showing a 2% increase from the…

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