Overview: A Market in Transition

The November 2025 statistics from the Realtors Association of Maui reveal a real estate market that continues to rebalance after two years of regulatory shifts, affordability challenges, and increased inventory.

Across both condos and single-family homes, Maui is experiencing more choices for buyers, greater negotiating power, and price adjustments that reward well-informed decisions.

Below, we break down how the market is performing, with a regional focus on Maui’s most active buying and selling areas.

Single-Family Homes: Stabilization with More Inventory

According to November statistics, Maui’s single-family home market shows:

  • Median Sales Price: $1,150,000 (down from $1,300,000 last year)
  • Closed Sales: 49 (vs. 63 last year)
  • New Listings: 104 (up from 95)
  • Pending Sales: 56 (slightly down)
  • Sales Volume: Down 38 percent year-over-year

Inventory is rising, prices are softening, and buyers have more negotiating power than they’ve had in several years. Homes that are priced correctly and show well continue to attract strong attention.

Track single-family trends in real time:

Click here to see all Real Time Single-Family Home Trends

Condominiums: Bill 9 Continues to Reshape the Landscape

The condo market reflects the most notable changes:

  • Median Sales Price: $595,000 (down from $735,000)
  • Closed Sales: 50
  • New Listings: 170
  • Pending Sales: 47
  • Sales Volume: $36.7M (down from $51M)

The biggest driver remains Bill 9, which proposes the phase-out of transient vacation rentals (STRs) in apartment-zoned properties on the Minatoya List.

Affected condos have seen:

  • Value declines
  • Fewer buyers
  • Longer days on market

Meanwhile, hotel-zoned condos, fully exempt from Bill 9, continue to attract investors and lifestyle buyers.

Explore all hotel-zoned Bill-9-exempt condos here:

Click here to see All Hotel-Zoned Billed 9 exempt Condos

Track condo trends in real time:

Click here to see real time condo Trends

Regional Market Insights

Lahaina

Inventory remains constrained, but demand is steady for renovated homes and hotel-zoned condos. The Lahaina rebuild continues to influence supply, keeping pricing more stable than in other regions.

Kaanapali

Kaanapali remains one of Maui’s strongest luxury markets, particularly in the single-family segment. Condo values have softened, providing opportunity for buyers who can act decisively.

Kapalua

A consistent luxury performer. Kapalua attracts cash buyers and long-term lifestyle owners, creating greater price stability compared to the broader countywide condo market.

Kihei

  • Single-family median price: $1,295,000
  • Condo median price: $655,000

Kihei is the area most directly impacted by Bill 9, with many apartment-zoned buildings facing softer valuations. In contrast, hotel-zoned South Maui condos continue to hold pricing and sell well, especially near the shoreline.

Explore Kihei condo inventory here:

Click here to see Kihei condo inventory

Wailea / Makena

  • Single-family median price: $3,812,500
  • Condo median price: $2,387,500

The ultra-luxury segment has normalized after an intense 2021–2023 cycle. Buyers are more selective, but homes and condos with ocean views, resort amenities, or renovation quality continue to command strong pricing.

Explore Wailea condos:

Click here to see Wailea Condos

Kula (Upcountry)

Demand remains strong for acreage, views, and cooler Upcountry temperatures. Increased inventory is giving buyers more options, especially in mid-tier price points.

Makawao / Olinda / Haliimaile

  • Median single-family price: $1,365,000
  • Closed sales down 21 percent

Buyers are showing increased selectivity. Quality homes in good condition continue to perform well, while deferred-maintenance properties face longer market times.

Haiku

  • Median single-family price: $1,300,000
  • Sales volume down 20 percent

Haiku remains popular for its privacy, greenery, and acreage. The softening reflects increased rural inventory, giving buyers more negotiating power.

Paia / Spreckelsville / Kuau

  • Median single-family price: $1,410,000 (down significantly year-over-year)
  • Closed sales: 11 (slight decrease)

Values fluctuate widely here due to low sales volume. Demand remains stable for proximity to beaches, surf, and Paia town, but pricing must align with today’s market realities.

How Bill 9 Is Reshaping Condo Values

Bill 9 continues to be the most significant market force affecting Maui’s condominium sector.

Key impacts include:

  • Price decreases in apartment-zoned Minatoya List properties
  • Increased absorption time
  • Shift of buyer demand toward hotel-zoned units
  • Greater investor focus on zoning certainty

For buyers and sellers, understanding zoning is critical before making a move.

See all hotel-zoned condos:

Click here to see all Hotel-Zoned Condos

Need a Custom Market Report for Your Area or Property Type?

We offer complimentary reports for:

  • Your neighborhood or condo complex
  • Bill 9–affected vs exempt properties
  • Hotel-zoned investment opportunities
  • Upcountry residential trends
  • West Maui resort segments
  • Lifestyle-based searches (oceanfront, golf communities, acreage, etc.)

Tell us what you’re looking for, we will tailor the analysis to your goals.

Thinking About Buying or Selling? Let’s Talk.

Whether you’re planning your next move, preparing to list, or evaluating investment options, we’re here to provide clarity and strategy rooted in real market data.

Don’t miss the chance to build equity, invest in Maui’s future today! Please contact the Maui Property Team at 808-217-8832 to explore your options with Maui Property.

If you would like to view the full November 2025 Market Report from the Realtors Association of Maui please use this link: Click here to view the report