Housing & Real Estate

Maui Planning Commission members finished hearing public comments and then added their own Tuesday to a draft environmental impact statement for Ledcor South Maui’s plans to build as many as 975 homes.

Homebuyers on Maui closed on more single-family homes and condominiums in April, according to the latest resale figures from the Realtors Association of Maui. The median sales prices for both categories also saw notable increases:  single-family homes rose by 16.9% to $1.3 million, while condominiums climbed by 8.4% to $962,500, compared to April 2023.

The County of Maui Department of Finance will hold a real property tax sale on Tuesday, May 21, 2024, to auction off properties that have been delinquent for three or more years and have received a final notice of tax sale. The sale will continue on Wednesday, May 22, 2024, if necessary. 

A new program offered by the Hawaiʻi Housing Finance and Development Corporation sets aside funds for nonprofit community development financial institutions (CDFIs) or other nonprofit housing development organizations who build self-help, for-sale housing for those in low- and moderate-income categories.

The grand opening of Kaulana Mahina Apartments—a workforce housing development in Wailuku—took place on Thursday, April 18. This event comes at a time when the chronically undersupplied housing market on Maui has been further impacted by the devastating fires of last August.

Maui’s median home price rose to $1,303,692 in March of 2024, up 9.5% from 2023 when the median was $1,191,000. The data was included in the latest data released by the REALTORS® Association of Maui (RAM).

The Hawaiʻi Housing Finance and Development Corp. has closed on the purchase of the former Maui Sun Hotel in Kīhei from Haggai International Institute for Advanced Leadership Training, the state agency announced Thursday.

Maui County Council members gave final approval Friday to amend the county’s fiscal 2024 budget and provide financing from the Affordable Housing Fund for two housing projects in Central Maui.

Maui County Council members gave final approval Friday morning to an intergovernmental agreement for the state to purchase the 6.2-acre Haggai Institute for affordable long-term rental housing.

Members of the Maui County Council’s Housing and Land Use Committee received a presentation Wednesday on conceptual plans for the 1,600-unit Hoʻonani Village multifamily rental and commercial complex in Puʻunene.

The median price for a single-family home on Maui in February 2024 was $1,250,760, up 15.9% from the same time last year. The median price for a condo was $744,500, down 18.6% from the same time last year.

Mayor Richard Bissen and officials from the County’s Office of Recovery announced temporary modular home group housing projects being planned in coordination with the Federal Emergency Management Agency (FEMA), the State of Hawaiʻi and private developers to provide an estimated 4,000 interim housing units for wildfire survivors. The information was shared at the Disaster Recovery Community Update meeting held at the Lahaina Civic Center on Wednesday night.

The community is encouraged to attend the County of Maui’s Weekly Disaster Recovery Community Update Meeting at 5:30 p.m. Wednesday, March 6 at the Lahaina Civic Center to hear about the County’s interim housing plan.

A new AARP Hawaiʻi/Smart Growth America report about the potential danger of losing affordable housing in Hawaiʻi has triggered a response from the Hawaiʻi Housing Finance and Development Corp., which is responsible for increasing and preserving the supply of affordable housing statewide.

While a decrease was recorded in month-over-month data, Maui County vacation rental supply realized gains this January compared to January 2023.

Gov. Josh Green, M.D., has signed the fifth Emergency Proclamation relating to Affordable Housing. Developers must now produce 60% of their units at 140% of the area median income or less – instead of the previous 50%-plus requirement.

Although zoned for 2,137 residential units, the Ledcor Maui project proposes construction of a maximum of 975 residential homes, which includes the Wailea resort community’s first workforce housing units. The state mandated public comment period of 45 days ends on April 8, 2024.

A group rallying to help secondary victims of the August fires is asking Gov. Josh Green to extend protections for tenants facing evictions from landlords seeking more lucrative rental income tied to subsidized housing for wildfire survivors.

Hawaiʻi Information Service retired its 27-year-old REsearch MLS system, moving all REALTOR members to HIMLS with zero downtime.

A bill has been submitted to the Maui County Council that would pave the way for loan of up to $14 million from Maui County for the 212-unit Aikanaha low-income rental housing project in Waikapū.