#Maui median

Maui’s housing market continued to soften in November, with year-over-year declines in both single-family home and condominium sales, according to the Realtors Association of Maui. Single-family home sales dropped by 22.2%, while condominium sales fell 5.7%. Median sales prices also declined, with single-family homes down 11.5% to $1,150,000, and condominiums down 19.0% to $595,000.

Maui’s real estate market remained active in October, with single-family home sales rising 20.8% year over year and condominium sales down 4.6%, according to the Realtors Association of Maui. Both property types saw price declines: the median sales price for single-family homes fell 3.1% to $1,245,000, while the median price for condominiums dropped 32% to $625,750.

The County of Maui Department of Housing is seeking applications for affordable housing projects that will be funded by the Affordable Housing Fund in Fiscal Year 2027. The projects must propose housing solutions that provide housing for families earning 140% and below of the County of Maui’s median family income.

Single-family home sales rose modestly by 5.3% compared to July 2024, with the median sales price increasing 9.6% to $1,315,000.

The median price for single-family homes declined by 5.7% to $1,315,000, while condominium prices dropped sharply by 28.6% to $700,000.

Maui’s housing market experienced similar trends in April and May, with both single-family and condominium sales declining compared to the same time last year, according to the latest data from the Realtors Association of Maui. 

The County of Maui Department of Housing issued a request for proposals seeking affordable housing projects that will be funded by the Affordable Housing Fund in Fiscal Year 2026. The projects must propose housing solutions that provide housing for families earning 140% and below of the County of Maui’s median family income. 

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.

The County of Maui recently donated seven Fairways at Maui Lani, Kahului, lots totaling approximately 1.4 acres to nonprofit Nā Hale O Maui for affordable housing, according to an announcement today by the County Department of Finance. The donation of the County real property closed May 22, 2024. Fairways at Maui Lani Lots 1-7 are part of 19 total Fairways at Maui Lani lots that the County in 2022 decided to give to Nā Hale O Maui for affordable workforce housing in perpetuity.

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 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.

Median Sales Price decreased 19.6% to $1,007,000 for single family homes but increased 21.9% to $984,450 for condominium homes, according to the latest report released by the Realtors Association of Maui for June 2023.

Although Maui County’s real estate market is facing uncharted territory after the frenzied homebuying of the pandemic, Realtors Association of Maui said signs point to slightly softer prices heading into the new year. Low inventory, though, will keep home prices relatively high, and potential buyers shouldn’t expect costs to plummet to pre-pandemic numbers.

Maui’s median sales price for single family homes sold in September rose to $1,025,000, up 3.0% from the year prior, according to the latest data released by the Realtors Association of Maui.

“Over a decade, Maui County could easily add about 25,000 new single family housing units by opening up a modest amount of agricultural land for light touch density development or by allowing existing homes to be converted to duplexes,” said Peter.

The Maui real estate market started the new year off with the median price for single-family homes rising to a record $1,160,000 – the previous high was set in June 2021 at $1,105,000.

The median sales price for single-family homes remained over $1 million in July at $1.05M, down only slightly from an island-wide record high of June 2021 ($1,117,500).

The Realtors Association of Maui reports that healthy housing demand and limited inventory will continue to create “significant tailwinds” in the near term for the housing market.

Despite this significant economic impact, home buyers remain extremely resilient. With mortgage rates remaining near record-low levels and home purchase mortgage applications up from a year ago, high buyer activity is expected to continue into the late summer and early fall market.

The median price for a single family home on Maui was $747,150 in February 2020, down -5.4% from the $790,000 reported at the same time last year, according to new information released by the REALTORS Association of Maui.