Real Estate

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.

Housing affordability is one of the most critical issues facing our community today. As the president of the REALTORS Association of Maui, I want to emphasize our commitment to fairness, transparency, and responsible practices in the real estate industry.

The median price of a single-family home came in at more than $1.4 million in September — an all-time high, according to the Realtors Association of Maui.

While Maui County’s resident population of roughly 164,000 represents about 11% of Hawaiʻi state residents overall, the Tri-Isle county had the highest supply of available vacation rental unit nights of any county in the state in August, according to a report by the Hawaiʻi Department of Business, Economic Development & Tourism.

The Rotary Club of Kahului welcomes commercial realtor, Brian Rose to its weekly meeting on Monday, Sept. 24, 2024, from 12 to 1 p.m. He will speak on the current state and future of commercial real estate on Maui.

Rent stabilization is legal, but will it work to help residents at the mercy of landlords seeking the highest possible return on their Maui property investments? That’s the question left hanging after Maui County Council members heard Monday evening from more than two dozen testifiers, most of whom favored putting brakes on runaway rental costs.

August 2024 saw Maui’s housing market exhibit contrasting trends, with single-family homes experiencing both a rise in sales and an increase in median prices, according to the latest data from the Realtors Association of Maui. The median sales price for single-family homes increased by 10.4% compared to August 2023, reaching $1,325,000, indicating continued demand at higher price points. Meanwhile, condominium sales dropped by 34.7%, though the median price for condos surged to $1,000,000, a 33.3% increase.

Maui Planning Commission members breezed by a proposed policy statement in the draft South Maui Community Plan update Tuesday evening, agreeing by consensus that the plan would aim to increase long-term residential housing by phasing-out short-term rentals from Māʻalaea to Kanaio.

Maui Planning Commission members will take up the draft South Maui Community Plan update on Tuesday, and it comes with a very hot potato — a policy statement to increase residential housing by phasing-out short-term vacation rentals.

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.

A beachfront estate in Wailea-Mākena, Maui, Hawaii, is set to hit the auction block next month via Concierge Auctions. The estate, 4610 Mākena Road, is listed at $33 million and will be presented in cooperation with Nancy Callahan of Coldwell Banker Island Properties and Paul Stukin of Deep Blue HI.

With the largest supply of vacation rentals in the state, Maui County’s unit demand and occupancy rates are down in double-digits since last year and 2019, before the COVID-19 pandemic struck, according to a report for June by the Department of Business, Economic Development & Tourism.

The Maui Planning Commission heard more than seven hours of often impassioned testimony Tuesday, then deliberated nearly three hours before recommending that the Maui County Council approve a bill to phase-out of thousands of short-term rentals in apartment districts, mostly in South and West Maui.

For the Mathers, homeownership seemed unattainable. The constant threat of displacement from their beloved ‘āina loomed over them. Jen Mather, alongside her husband Richard and their children Kūmoanaākea, 15, and Keolaonākai’elua, 14, expressed profound gratitude: “Nā Hale O Maui has made it possible not only for myself and my keiki to continue living here in Maui Komohana but also for the seven generations to come after us. We commit, along with Nā Hale, to keep this house affordable in perpetuity.”

Dreams of homeownership came true for a young Maui family when Na Hale O Maui Executive Director Cassandra Abdul presented Codie and Pelemarie Chong with the keys to their new home on Meheu Circle in the Traditions at Maui Lani, Friday.

The price of a single-family home in Maui County soared to $1.35 million in June, up 30.8% over the same month last year, the Realtors Association of Maui reports. Meanwhile, condos remained virtually unchanged at $980,000.

Just as Maui County is seeking to phase out transient vacation rentals in apartment-zoned districts, the European city of Barcelona, Spain, has imposed some of the most restrictive vacation rental rules on the planet, according to the World’s Best Cities Report 2024.

The Maui Planning Commission failed to have enough commissioners available this morning for an anticipated continuation of a public hearing on a proposed phase-out of approximately 7,000 transient vacation rentals in Maui County’s apartment-zoned districts.

Round 2 in a battle over Mayor Richard Bissen’s proposed phase-out of approximately 7,000 transient vacation rentals in Maui County’s apartment-zoned districts will move tomorrow to a different venue and have a duration estimated at only one hour.

A standing-room-only crowd filled the Maui County Council chambers Tuesday morning to hear the start of debate over Mayor Richard Bissen’s proposed phase-out of approximately 7,000 transient vacation rental units in apartment-zoned districts.