Maui’s real estate market continues its recalibration in March 2025, following many of the same trends we saw last month—with a few notable shifts. Inventory is rising, condo prices have dipped slightly after a sharp February rebound, and properties across the board are sitting longer before selling. For buyers, this presents more options and negotiating power. For sellers, it’s a time to revisit pricing strategy and market positioning.
This month’s data confirms what we’ve been tracking since the start of the year: we are firmly in a more balanced market. That means opportunity—but also the need for a well-informed strategy.
Single-Family Homes: Inventory Climbs as Sales Slow
We’re seeing a clear trend unfold: more homes available, fewer homes closing. For buyers, this translates into more negotiating power. For sellers, it’s a cue to price strategically—and stand out.
✅ Median price holds at $1,295,000, essentially flat from February’s $1.3M
✅ Closed sales dropped 35.5% year-over-year, a notable cooling in demand
✅ Inventory rose 54.8%, continuing February’s trend toward a buyer-favorable market
✅ Days on market decreased slightly to 125 days, showing that well-priced homes are still moving
✅ Average sales price surged to $2,529,146, up 33.2% YoY—likely boosted by a few standout sales
Key Takeaway: While home values remain resilient, we’re seeing a slowdown in buyer urgency. If you’re selling, it’s not just about being listed—it’s about being priced right and positioned effectively in a more competitive landscape.
Condos: After a February Spike, Prices Correct
Last month’s sharp rise in condo prices had many wondering if we were seeing the start of a new upward trend. This month, however, brought a course correction.
✅ Median condo price fell to $822,500, down 36.8% year-over-year
✅ Closed sales dropped 36.2%, continuing a multi-month decline
✅ Pending sales dipped slightly by 2.5%, showing tempered buyer interest
✅ Inventory surged 72.1% YoY, after a 97.9% increase in February
✅ Days on market rose to 145 days, up 70.6%—the highest we’ve seen in a while
Key Takeaway: Condo buyers are now firmly in the driver’s seat. More inventory and slower movement mean opportunities for buyers and a call for sharper strategy from sellers. The key? Presentation, pricing, and patience.
Homes Hold Value, But Take Longer to Sell
March saw the median price for single-family homes tick down slightly to $1,295,000, a 0.3% year-over-year decrease. However, homes are taking longer to sell, averaging 125 days on market. The same was true last month when homes averaged 126 days.
Regional Highlights: Wailea, Kihei & Makawao Lead the Pack
Some areas continue to see steady activity, especially in the luxury sector.
- Wailea/Makena condos held the title for highest median price at $4,690,000.
- Kihei led condo sales with 15 closed units, showing strong demand in this beachside community
- Makawao saw the most single-family home sales (8 total), with a median price of 1,447,500
What This Means for Buyers
✅ More selection – Inventory continues to rise across both homes and condos
✅ Less competition – Fewer bidding wars, more breathing room
✅ More negotiating power – With longer days on market, sellers are increasingly open to offers
✅ Timing matters – If you’ve been waiting for an opening in the market, this could be it
What This Means for Sellers
✅ Buyers are taking their time – Expect longer market times, especially for condos
✅ Your pricing strategy matters more than ever – Overpricing can lead to sitting stale and price reductions
✅ Luxury properties are still moving, but the buyer pool is more selective
✅ Strong marketing is non-negotiable – Visibility, presentation, and local expertise make the difference
Luxury Market Snapshot
Luxury remains strong but nuanced. In February, the Wailea/Makena condo median was $3,175,000. This month, it ticked up to $4,690,000. It’s still the highest price point on the island, but even the top tier is not immune to longer selling times.
Luxury buyers are selective. Properties must present value, craftsmanship, and uniqueness to earn top dollar in this more deliberate market.
Patterns to Watch:
- Inventory continues rising, giving buyers more choice and leverage across both condos and single-family homes.
- Sales activity continues to decline, confirming a market that is rebalancing after recent years of rapid growth.
- Days on market are still elevated, reinforcing that serious buyers are being selective—and sellers must be flexible.
- Luxury properties in areas like Wailea/Makena are holding strong on price, but the time to sell has lengthened.
Single-Family Home Market
- ✅ Median home price held steady at $1,295,000, nearly unchanged from February’s $1.3M.
- ✅ Average home sales price rose 33.2% year-over-year to $2,529,146—driven by several high-end closings.
- ✅ Closed home sales dropped sharply, down 35.5% YoY—suggesting buyer hesitation despite resilient prices.
- ✅ Pending home sales declined 15.2% YoY, pointing to slowing buyer activity.
- ✅ Days on market decreased slightly to 125 days, from 126 in February—motivated buyers are acting quickly on well-priced listings.
- ✅ Inventory rose 54.8% YoY, echoing February’s 58% surge—buyers continue to gain options.
- ✅ Months supply of inventory increased to 5.0 months, up 61.3% YoY—further signaling a shift toward a buyer’s market.
- ✅ New listings were up 3.2% YoY, keeping inventory replenished.
- ✅ Homes received 96.9% of list price, down slightly, showing increasing negotiation power for buyers.
- ✅ Makawao/Olinda/Haliimaile led single-family home sales with 11 closings at a median of $1,145,000.
Condo Market
- ✅ Median condo price fell to $822,500—down 36.8% YoY and a reversal from February’s $945,000 surge.
- ✅ Average condo price decreased 36.5% YoY to $1,198,192, reflecting a shift away from luxury closings.
- ✅ Closed condo sales declined 36.2% YoY—continuing the slowdown in buyer activity.
- ✅ Pending condo sales dipped 2.5% YoY, showing signs of plateauing demand.
- ✅ Inventory grew 72.1% YoY, following February’s 97.9% jump—giving buyers ample selection.
- ✅ Days on market for condos soared 70.6%, reaching 145 days—buyers are taking their time.
- ✅ Months supply of inventory jumped 131.8% YoY to 6.5 months—strongly favoring buyers.
- ✅ New condo listings fell 16.7% YoY—potential early sign of seller hesitation.
- ✅ Condos received 94.4% of asking price, suggesting more flexibility in negotiations.
- ✅ Kihei led condo sales with 25 closings at a median price of $755,000.
Luxury & Regional Highlights
- ✅ Wailea/Makena remains the highest-priced condo area, with a median sale price of $2,100,000.
- ✅ Luxury listings are sitting longer, and some are seeing price reductions—patience is key for sellers.
- ✅ High-end sales boosted average home prices, but not all price segments are moving at the same pace.
- ✅ Inventory in luxury zones is up, giving affluent buyers more negotiating leverage.
Market Behavior & Trends
- ✅ Buyers continue to gain leverage across both markets as inventory grows.
- ✅ Sellers face more competition, especially in mid-tier and investment-level segments.
- ✅ The pace of sales has slowed, as seen in lower pending and closed sales across the board.
- ✅ Affordability remains a concern, especially as rates hold steady and prices remain high.
- ✅ Strategic pricing and strong marketing are essential for sellers to stand out in today’s longer sales cycle.
Final Thoughts
If February was the first clear sign of a shifting landscape, March confirms it. The Maui real estate market is no longer defined by urgency, but by opportunity—for both sides of the transaction. After years of intense competition, today’s market is giving buyers more room to breathe and forcing sellers to approach the process with strategy and skill.
Whether you’re selling a high-end oceanfront estate or looking to purchase your first property on Maui, the market is nuanced—and it’s moving. You need more than a listing. You need a plan.
With over 60 years of combined experience in Maui’s real estate market and a proven track record as one of the island’s top-performing teams, we’re here to help you navigate it all.
Let’s talk about your goals and what today’s market means for your next move.
With Aloha,
All information taken from Hawaii Information Services, MLS Sales Data—information shown herein, while not guaranteed, is derived from sources deemed reliable. This market analysis represents our opinion based on available data and should not be considered financial or legal advice.
