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.

“Maui’s housing market is in a period of transition,” said association President Lynette Pendergast. “While single-family home prices remain stable, the condominium market is seeing significant drops. These trends highlight the importance of strategic decisions by both buyers and sellers as the market evolves.”

The condominium market’s downturn in August is evident from several key metrics pointing to challenging times for sellers but opportunities for buyers. Condo sales have been trending downward since Mayor Richard Bissen announced in early May 2024 a proposed measure to phase-out nearly 7,000 transient vacation rentals from Maui County’s apartment-zoned districts.

In August, the median sales price for condos dropped 35% year-over-year to $650,000. For year-to-date median sales prices, condos fell 21.1% to $710,000. The average sales price for condos also saw a decrease of 44.4% compared to the same month last year, settling at $1,144,168.

Closed sales for condos were down 14.9% in August compared to August 2024. Year-to-date, closed sales were down 26.2%, with 465 transactions through August 2025, compared to 630 during the same period in 2024.

New listings for condos also saw a decline, dropping 9.7% in August. Despite the drop in sales, the number of condominium homes for sale increased by 13.3%, reaching 858 homes in August.

The months supply of inventory, a measure of how long it would take to sell the current homes on the market at the current sales pace, rose 31.6% to 15 months. This higher level of inventory gives buyers more options and greater leverage in negotiations.

In contrast to the condo market, single-family homes showed more stability. The median sales price for single-family homes decreased by 3.6% to $1,277,000 in August. The year-to-date median sales price remained flat at $1,300,000.

The average sales price for single-family homes actually increased by 2.2% in August to $1,857,116. While new listings for single-family homes increased by 23.1% in August, closed sales were down 6.3% for the month.

However, pending sales saw an increase of 19.6% in August. The inventory for single-family homes also grew by 22.3%, reaching 444 homes for sale in August. The months supply of inventory increased by 31.7% to 7.9 months.

When combining all property types, the number of closed sales was down 16.8% in August. The median sales price for all properties dropped 20.5% to $957,500. Total homes for sale across Maui County increased by 14%.

The housing affordability index increased for both single-family homes and condos, pointing to improved affordability for buyers. For single-family homes, the index rose 3.2%, and for condos, it jumped 53.7%. A higher index number indicates greater affordability.

For more information, visit wwwramaui.com.