The Minatoya List Explained: What Every Maui Real Estate Buyer Needs to Know

If you’re considering buying property on Maui—especially a condo used for short-term rentals—you need to understand the Minatoya List and how it could reshape the island’s real estate market.

As a local expert, property owner, and investor myself, I’ve been tracking this issue closely. Here's what you need to know about the Minatoya ruling, what’s changing, and how it could affect your buying decisions and investment strategy on Maui.

🏝 What Is the Minatoya List?

The Minatoya List refers to a group of approximately 7,167 condominium units on Maui that were legally allowed to operate as short-term vacation rentals (TVRs) despite being zoned “apartment” rather than “hotel.” This list was created in 2001 by then Deputy County Counsel Richard Minatoya, allowing certain condos—especially in Kihei, Lahaina, Kaanapali, Napili, and Maalaea—to rent for under 180 days without needing a hotel zoning designation.

Over 6,000 units on this list are currently being used as short-term rentals, many of them popular with visitors and owners alike.

🔁 What’s Changing in 2025?

In response to Maui’s worsening housing crisis, Maui County is proposing a phase-out of the Minatoya List. The current plan—backed by Mayor Richard Bissen—would remove STR rights from these properties starting January 1, 2026, with decisions finalized as early as June 2025.

Owners would need to apply for conditional permits or pivot to long-term rentals to stay compliant. This shift has major implications for real estate values, rental income potential, and Maui’s tourism-driven economy.

💰 How the Minatoya Phase-Out Could Impact Maui’s Real Estate Market

1. Condo Prices Could Drop
If short-term rental income is restricted, condo values on Maui may decline by 20–40%, creating what many experts are calling a rare buying opportunity—especially for long-term investors and residents.

2. Inventory Is Surging
There are currently over 850 condos for sale, compared to just 140 in early 2024. That’s a 500% increase in listings, signaling both owner uncertainty and a potential shift in market dynamics.

3. Rental Revenue May Be Affected
Short-term rental owners could see a decrease in income if forced to transition to long-term tenants. However, this may open the door to more affordable housing and stabilized rental prices over time.

4. Long-Term Strategy Pays Off
Properties that remain legal for short-term rentals—like those zoned hotel or with existing permits—will become even more valuable. Meanwhile, savvy investors may shift their focus to mid-term or long-term rentals, or to personal use with occasional rental income.

📉 What About Maui’s Economy?

The Minatoya rollback could reduce Maui’s annual visitor spending by nearly $900 million, according to UHERO, potentially leading to:

• A 4% drop in Maui's GDP

• Roughly 1,900 local jobs lost

• A projected $60 million/year loss in property tax revenue by 2029

While the policy aims to create more housing for residents, it comes with serious economic trade-offs. This is why timing and strategy are everything if you plan to buy or sell on Maui in the coming months.

🧭 What Should Buyers and Owners Do Now?

If you own or are considering buying a condo on Maui, especially in areas like Kihei, Lahaina, or Napili, now is the time to:

• Double-check if the unit is on the Minatoya List

• Understand future STR regulations and zoning

• Consider long-term versus short-term rental strategies

• Work with an agent who owns and manages properties personally (that’s me!)

🏡 Thinking of Buying a Condo or Investment Property on Maui?

With the Minatoya ruling on the horizon, 2025 could be one of the most important years in Maui real estate history.

As a top-performing Maui real estate agent, short-term rental property manager, and condo owner myself, I can help you:

• Analyze rental income potential

• Understand zoning and STR rules

• Choose the right property for long-term growth

• Navigate upcoming regulation changes with confidence

📞 Let’s talk about your goals and how the Minatoya phase-out might affect your options.

✅ Final Word: Stay Informed, Stay Ahead

Whether you're a first-time buyer or seasoned investor, understanding the Minatoya List and Maui’s changing short-term rental laws is essential for making smart real estate decisions in 2025.

Want to see what condos are currently listed on the Minatoya List and Hotel Zoned?
👉 Click here to view properties on The808Team.com

📲 Contact Todd RB-21913 for Expert Help

Have questions about how the Minatoya phase-out could impact your purchase, sale, or investment strategy?

Reach out directly:

• 📞 Call/Text: (808) 344-3584

• 📧 Email: toddhudson@the808team.com

• 🌐 Website: www.The808Team.com

• 📍 Based on Maui | Owner, Investor & Real Estate Agent

Whether you’re looking to buy, sell, or optimize your portfolio, I’m here to help you navigate Maui’s evolving real estate landscape with clarity and confidence.