#Real Estate

Japanese visitors have been drawn more to Waikīkī than to Maui’s resorts, and a new state report calls for changing that by rebuilding and diversifying Japanese visitor demand.

The purchase of the 19-acre property comes nearly three years after the Aug. 8, 2023 wildfire destroyed the offices, coffee mill and other buildings owned by Pioneer Mill Company, a subsidiary of Kaanapali Land.

Maui’s single-family home market saw a double-digit drop in median prices this February, while condominium sales volume surged by 25% as buyers shifted toward more affordable inventory, according to new data from the Realtors Association of Maui.

The eight-bedroom, 12.5-bathroom home, which for years spurred community criticism over its size and potential use as a vacation rental, is offering 25% shares for $3.55 million apiece.

The Maui County real estate market closed 2025 with a significant boost in sales activity as buyers capitalized on increased inventory and lower prices, particularly in the condominium sector where values dropped more than 20%.

The REALTORS Association of Maui is partnering with the Hawai‘i HomeOwnership Center to launch KĀKOU, a new homeownership education program designed specifically for Maui County residents.

Tradewind Group today announced the appointment of Vinodh “Vin” Krishnamoorthy as vice president and chief financial officer. Krishnamoorthy succeeds Nolan Kawano, who will transition into the newly created position of vice president of strategic initiatives.

Maui’s housing market showed mixed results in August, with a sharp decline in condominium sales favoring buyers while single-family homes remained steady, according to a report released this month by the Realtors Association of Maui.

The median price for Maui condos has dropped almost 25%, from a whopping $962,500 in April 2024 before the proposed short-term rental ban to $727,000 in April of this year.

Both the nonprofit and a land conservation expert described the $1.5 million purchase as a rare victory in a state where so many other lands are being sold and developed.

The median price of a single-family home on Maui was $1.3 million in October, down $100,000, or 7.1% from the all-time high of $1.4 million, posted in September, according to monthly statistics from the Realtors Association of Maui.

It wouldn’t be the first time that a small community group secured ownership of a loko i‘a, the traditional fishponds used by early Hawaiians to sustainably grow fish. State laws prevent the sale of fishponds on state-owned land, but private owners are free to sell.

The land trust says listings of burned properties in Lahaina with prices well above their assessed land values pre-fire will draw outside investors and put properties out of the reach of local buyers. But sellers say it’s a tough call to put their properties on the market and that they’re just trying to recoup their losses and move on with their lives.

Closings of condominium sales have dropped by double-digit percentages in the three months since Mayor Richard Bissen announced a proposal to phase out thousands of short-term rentals in apartment-zoned districts, according to monthly statistics from the Realtors Association of Maui.

In May 2024, Maui’s housing market exhibited stability in single-family home sales while showing moderate increases in median prices, according to the latest figures from the Realtors Association of Maui (RAM). The median sales price for single-family homes rose by 2% compared to May of the previous year, reaching $1,297,500 with the 2024 year-to-date median listed at $1,300,000 for Maui. Compared to last month, the median home price was $1,303,692 in March of 2024.

The past year has brought significant shocks to the housing market in Hawaiʻi. Per the University of Hawaiʻi Economic Research Organization (UHERO), overall transactions in 2023 was only half of what it was in 2021, and fewer single family homes were transacted in Hawaiʻi last year than in any of the last 25 years.

James Campbell Company LLC, a $5.3 billion, nationally diversified real estate company based in Hawaiʻi, announced the appointment of Kevin Penn as the company’s new chief executive officer, effective Jan. 8, 2024.

Homeowners on Hawai‘i Island and Kaua‘i are encouraged to participate in one of the scheduled workshops to learn about options for preventing foreclosures as well as free housing counseling and financial assistance available to help them keep their homes.

As the COVID-19 pandemic continues to present new challenges for the State, the Hawaiʻi State Senate is focused on addressing these concerns and more in the upcoming legislative session.

Global real estate brokerage, The Agency, announced the launch of its first franchise office in Hawaiʻi on the island of Maui.