Is Maui Still a Good Real Estate Investment After Bill 9?

A Data-Driven Perspective for Condo Buyers

If you’re considering buying a condo on Maui, you’ve probably noticed the narrative shift.

Bill 9 made headlines. Short-term rental rules tightened. And suddenly, many buyers started asking the same question:

Is Maui still a good real estate investment after Bill 9?

The answer isn’t emotional — it’s analytical.

For buyers who understand Maui’s fundamentals and buy the right type of condo, the opportunity didn’t disappear. It changed.

What Bill 9 Actually Changed (From an Investor Lens)

Bill 9 didn’t eliminate investment real estate on Maui.

What it did was:

• Reduce speculation tied purely to short-term rental income
  
  
• Increase scrutiny on zoning, use, and compliance
  
  
• Shift pricing pressure onto properties that only worked under aggressive nightly-rental assumptions
  
  

From a market-health standpoint, that’s not destructive — it’s corrective.

Maui Condo Investing After Bill 9: What Still Matters

When you zoom out and remove the noise, the same core investment drivers still apply across Kihei, West Maui, and resort-adjacent condo markets.

1. Demand Is Still Strong — It Just Became More Rational

Buyer demand didn’t vanish after Bill 9.

Instead, it became more intentional:

• Fewer speculative buyers
  
  
• More long-term owners
  
  
• Greater emphasis on livability, location, and holding power
  
  

Condos that appeal to both owner-occupants and long-term renters have retained value far better than those that relied on one narrow use case.

2. Location Still Wins — Across the Island

Whether you’re looking in Kihei or on the West Side near areas like Kaanapali, the same rule applies:

Condos in walkable, amenity-rich, well-established areas outperform over time.

Investors continue to favor locations with:

• Proximity to beaches and services
  
  
• Strong resale appeal
  
  
• Consistent demand regardless of rental rules
  
  

This is why certain condo complexes across the island continue to trade steadily, even as weaker properties stall.

3. Entry Price + HOA Structure Matter More Than Ever

Post–Bill 9, investors are underwriting more conservatively — and that’s a good thing.

Key metrics buyers are now prioritizing:

• Sensible acquisition price relative to condition
  
  
• HOA fees that align with actual amenities
  
  
• Maintenance and reserve health
  
  
• Realistic long-term rent potential (not best-case scenarios)
  
  

Lower leverage and realistic expectations are outperforming aggressive plays.

The Role of Scarcity in Maui Real Estate

One thing Bill 9 did not change: supply.

Maui remains:

• Severely land-constrained
  
  
• Highly regulated
  
  
• Slow and expensive to build on
  
  

These factors historically support long-term value, particularly for well-located condo inventory, which makes up a significant portion of Maui’s attainable housing stock.

When speculative demand exits a supply-constrained market, disciplined buyers often gain leverage.

Not All Condos Perform the Same After Bill 9

This is where buyers need to be careful.

Post–Bill 9, the strongest condo investments tend to share common traits:
✔ Centrally or resort-located
✔ Appealing to owner-occupants and renters
✔ Not priced solely on short-term rental upside
✔ Positioned for long-term ownership

Some North Kihei and West Maui complexes — including examples like Island Surf — illustrate how condos with flexible demand profiles have remained resilient. The takeaway isn’t about any one building — it’s about buying durability.

So… Is Maui Still a Good Real Estate Investment After Bill 9?

For buyers chasing yesterday’s short-term rental strategy?
Probably not.

For investors focused on:

• Long-term fundamentals
  
  
• Location-driven demand
  
  
• Conservative underwriting
  
  
• Scarcity and appreciation
  
  

Yes — Maui can still be a very compelling real estate investment.

Bill 9 didn’t remove opportunity. It narrowed it to smarter plays.

Thinking About Buying a Maui Condo as an Investment?

I’m Todd Hudson with The 808 Team. I help buyers evaluate Maui condos using real numbers, zoning realities, and long-term strategy — not hype or outdated assumptions.

If you want:

• Honest guidance on which condos still make sense
  
  
• A clear investment framework post–Bill 9
  
  
• Help avoiding costly mistakes before you buy
  
  

📞 Call or text: 808-344-3584
📧 Email: Todd@The808Team.com
🌐 Website: The808Team.com

Let’s make sure your Maui investment still pencils — before you commit.