Maui Real Estate Market Update – July 2025

Q: What’s happening in the Maui real estate market right now?
A: As of July 2025, Maui’s housing market is defined by higher inventory, shifting price trends, and regional differences that matter more than ever. Single-family homes in areas like Kihei are selling strongly — averaging over $1.6 million in July — while condominiums are under pressure with softer prices and surging supply.

Q: Is it a buyer’s market or a seller’s market on Maui?
A: For condos, buyers have the upper hand due to rising inventory and falling median prices compared to last year. For single-family homes, sellers still see strength in desirable areas like South Maui, though overall competition has eased as more listings hit the market.

Q: What regions of Maui are performing the best in 2025?
A: Kihei leads in strong pricing and transaction volume, Central Maui offers affordability and stability, and West Maui continues to recover from the Lahaina fire. Upcountry and North Shore markets remain niche but command premium prices in limited transactions.

Big Picture Trends – January through July 2025

The first seven months of 2025 have painted a complex picture of Maui’s housing market. Instead of one clear story, the numbers show two distinct markets: single-family homes holding value in select locations, and condos adjusting downward as supply surges.

Inventory Growth

• Single-Family Homes: Inventory has increased 40–60% year-over-year throughout 2025.

• Condos: Inventory has surged even more — often doubling compared to 2024. In January, for example, condo inventory rose 108.3% year-over-year, and this trend carried through mid-year.

Higher inventory has shifted the market balance, giving buyers more choice and reducing the intensity of bidding wars that defined Maui real estate during the pandemic years.

Closed Sales Volatility

• In January 2025, condo sales were down 43% year-over-year, while single-family homes actually posted a modest 1.8% increase.

• By spring, sales activity remained inconsistent. April saw single-family closed sales drop 4.2%, while condo closed sales fell 40.7% compared to 2024.

• By mid-summer, the condo market still hadn’t recovered its prior momentum, while single-family transactions, though softer than last year, showed more stability.

This sales volatility underscores how much the market has shifted: sellers can no longer assume quick, multiple offers, and buyers are exercising patience.

Pricing Adjustments

• Single-Family Homes:

  • January’s median was $1.187M, a drop of 11.6% year-over-year.

  • By mid-year, medians were trending closer to $1.4M–$1.5M, depending on region. Kihei, in particular, reported an average over $1.6M in July.

• Condos:

  • January’s median was $675,000, down 15.6% year-over-year.

  • Even in July, medians remained under 2024 levels, confirming continued affordability adjustments driven by expanded supply.

Regional Highlights – July 2025

Kihei

Kihei is one of the strongest regions in 2025. In July:

• 11 single-family sales were recorded.

• The average sale price exceeded $1.6M, a figure that outpaced island-wide medians.

This reflects strong demand for South Maui’s lifestyle: close to sandy beaches, restaurants, shopping, and activities. Despite broader headwinds, Kihei continues to attract buyers willing to pay a premium.

West Maui (Lahaina, Kaanapali, Kapalua)

West Maui is still in recovery mode following the Lahaina fire.

• Transaction volume remains below historical averages.

• Median prices are holding relatively steady, largely due to constrained new supply and limited turnover.

Buyers are watching this market carefully, balancing long-term opportunity against current uncertainties around rebuilding and infrastructure.

Central Maui (Wailuku & Kahului)

Central Maui has become a relative affordability anchor.

• Median single-family prices are consistently below the island-wide median.

• Sales activity is more stable compared to the resort-driven markets.

• Growing inventory is giving buyers more flexibility in this region.

For families and local residents, Central Maui remains a practical choice with access to schools, healthcare, and business hubs.

Upcountry & North Shore (Makawao, Haiku, Paia, Kula)

• Transaction counts remain low, which creates monthly volatility in pricing.

• However, high-value properties continue to trade, shaping averages disproportionately.

Buyers drawn to cooler climates and rural lifestyles continue to pursue these niche markets despite overall market adjustments.

Year-to-Date Market Themes

Looking across January through July, four clear themes emerge:

1. Inventory Surge
   Higher inventory is the defining story of 2025. Buyers finally have more options after years of scarcity.

2. Condos Under Pressure
   The condo sector has absorbed the sharpest correction. Prices are down compared to 2024, and inventory remains high.

3. Single-Family Resilience
   Single-family homes, particularly in South Maui, continue to achieve strong sale prices despite larger supply.

4. Regional Divergence
   Market conditions vary sharply: Kihei thrives, Central Maui provides value, West Maui is stabilizing, and Upcountry offers exclusivity.

What This Means for Buyers and Sellers

• For Buyers: More choice, more leverage, especially in the condo market.

• For Sellers: Pricing strategy matters. Homes in desirable locations can still command top dollar, but overpricing leads to extended days on market.

Conclusion

Maui’s real estate market in July 2025 is best described as balanced but shifting. Single-family homes continue to shine in South Maui, while condominiums adjust to expanded supply. Central Maui remains a stable, affordable choice, West Maui is still finding its footing, and Upcountry retains its unique appeal.

For both buyers and sellers, the key is recognizing the regional differences and making decisions grounded in today’s numbers — not yesterday’s trends.

📞 Contact Benjamin Finnerty, REALTOR®

• Phone: 808-481-9748

• Email: benjamin@the808team.com

• Website: benjamin.the808team.com

Your South Maui real estate resource.