Maui Real Estate Market Mid-Year Report: What 2025 Is Really Telling Us

What’s happening in the Maui real estate market halfway through 2025?

Home prices are relatively stable, but rising inventory and longer days on market suggest a transition toward a buyer-favored environment. While overall sales volume has softened, certain regions and price brackets are performing above trend.

Maui Real Estate at a Glance (Mid-Year 2025)

• Median Sale Price (YTD): $1,065,000 (down 1.4% YoY)

• Days on Market: 130 (up from 102)

• Months of Inventory: 9.4 (up from 6.8)

• Closed Sales: Down 5.7% YoY

• Pending Sales: Down 14.3% YoY

Pricing Trends: A Slight Dip Signals Rebalancing

Maui's median residential real estate price for the first half of 2025 sits at $1,065,000—a modest year-over-year decline of 1.4%. While this might sound minor, it represents a break from years of rapid appreciation. Instead of a correction, this appears to be a healthy market rebalancing.

This trend is especially visible in entry-level and mid-range price brackets, which have seen increased buyer caution amid rising interest rates and economic uncertainty. That said, homes priced appropriately for their condition and location—especially in areas like Kihei and South Maui—are still selling well.

Inventory & Days on Market: More Supply, Less Urgency

Homes are spending more time on the market—an average of 130 days, up from 102 in the same period last year. Concurrently, Maui now holds 9.4 months of inventory, compared to just 6.8 last year.

This growth in inventory can be attributed to slower buyer activity and an uptick in new listings. With more options and longer timelines, buyers are taking their time. This is good news for those who felt rushed or priced out in previous years.

Regional Snapshot: Kihei, Wailuku, and Lahaina

• Kihei: Continues to perform well, with strong interest in single-family homes under $1.5M. Inventory has grown, giving buyers more choices.

• Wailuku: One of the most balanced submarkets, with stable pricing and moderate DOM.

• Lahaina: High-end properties are experiencing longer DOM, but the $2M+ market remains active due to relocation and second-home demand.

The Luxury Market: Mixed Signals

Luxury properties above $2M are seeing longer market times, especially in areas where vacation rental demand has softened. However, buyer demand remains resilient for waterfront and view properties, particularly among mainland investors and remote workers.

The upper end of the market remains price-sensitive—homes with updated features and unique value propositions are still commanding strong offers, while outdated or overpriced listings are stagnating.

What About Condos?

Maui’s condo market is following a similar pattern. Overall median prices are flat, but the condo inventory is increasing faster than single-family homes. In Kihei, particularly, vacation rental-approved condos are facing a more competitive environment due to regulatory changes and shifting buyer preferences.

Buyer Sentiment: Strategic and Selective

Buyers today are more methodical. The drop in pending sales (-14.3%) reflects a "wait-and-see" mindset, particularly in the mid-tier. Many are taking more time to evaluate options and negotiate.

However, first-time buyers and remote workers looking for long-term investments still represent a steady stream of demand, especially in centrally located and lifestyle-rich communities.

Seller Strategy: It’s All About Pricing

For sellers, success hinges on pricing to the current market—not yesterday’s headlines. Properties that are competitively priced and presented well are still moving. Overpriced listings, however, are sitting longer and seeing price reductions.

Marketing also plays a critical role. Strong visuals, accurate pricing, and clear value propositions are essential to capturing today’s more cautious buyer.

Mid-Year Forecast: What’s Next for Maui Real Estate?

While a sharp correction is unlikely, we expect continued softening through Q3, especially in homes above $1.5M. Interest rates and global economic sentiment will remain key influencers.

On the bright side, Maui’s enduring lifestyle appeal, limited buildable land, and ongoing relocation trends should support long-term property values.

If you're looking to buy, conditions are more favorable now than they've been in years. If you're looking to sell, strategy and pricing are more important than ever.

Final Takeaway

Maui's 2025 real estate market is balanced but shifting. We're seeing a slower pace, increased inventory, and more buyer leverage—especially in competitive areas like Kihei real estate and real estate Maui overall.

Let’s talk about your goals. Whether you're exploring opportunities in real estate Kihei or want to position your property in today’s changing market, I'm here to help you succeed.

Schedule a call today with Benjamin Finnerty, REALTOR® on Maui, to discuss your options and build a smart strategy.