May’s data confirms what many of us on the ground already knew: we’re seeing a sustained shift in the Maui housing market, particularly in the condo sector. As buyers grow more cautious and inventory continues to climb, strategy, not speed, is becoming the key to successful real estate decisions. Whether you’re planning to buy, sell, or simply understand where the Maui housing market is headed, the latest numbers and headlines tell a compelling story.
📊 Highlights from May 2025:
- 📉 Condo Prices Drop: Median condo price decreased 10.3% YoY to $762,500.
- 🏡 Single-Family Prices Flat: Median price up just 0.4% YoY to $1,300,000.
- 📉 New Listings Down: -33.9% for condos, -9.9% for homes.
- 📈 Pending Condo Sales Rise: Up 14.8%, while home pending sales fell 16.7%.
- 📈 Inventory Swells: Up 38.5% for homes, 37.8% for condos.
- 📈 Days on Market Increases: +40.8% for homes, +38% for condos.
- 📈 Months of Inventory: +58% increase in supply.
Condos: A Continued Buyer’s Market
The condo segment remains a focal point for buyers, thanks to favorable pricing adjustments and an overabundance of inventory that has increased negotiation leverage:
- 📉 Median Sales Price: Condos now sell at a median price of $762,500, marking a 10.3% drop year-over-year.
- 📉 Average Sales Price: The average sale price has softened nearly 15%, settling around $1,046,907.
- 📈 Inventory and Days on Market: With inventory up 37.8% and a 14.1-month supply on the market, properties are averaging 137 days before a sale—a 38% increase compared with last year.
- 🏝 Seller Concessions: Sellers are netting about 94.5% of their list price, while pending condo sales have risen 14.8%, confirming that buyers have greater room to choose and negotiate.
These statistics clearly indicate that the condo segment of the Maui housing market continues to favor buyers. For those shopping for a condo on Maui, the negotiating power is stronger than in recent years.
Single-Family Homes: Holding Steady, but Slowing
While condos are experiencing significant shifts toward a buyer’s market, single-family homes continue on a steadier, though slower, path:
- 📈 Stable Pricing: The median single-family home price remains around $1.3 million, with a very modest 0.4% YoY increase.
- 📈 Increased Average Prices: Average prices have risen by 11.7%, thanks to robust transactions at the top end of the market.
- 📉 Pace of Sales: Pending sales have dipped by 16.7% and closed sales are down 3.7%, while homes now sit on the market for an average of 141 days (a 40.8% increase), supported by a 7.6-month supply.
- 📉 Negotiation Trends: Sellers are realizing about 95.5% of their list prices, underscoring the opportunity for buyers to negotiate in today’s market.
Even in the single-family segment, the Maui housing market reflects slower activity, reinforcing the buyer’s advantage—if you’re prepared, now is an ideal time to explore competitive options.
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Headlines Shaping the Maui Housing Market
Beyond local sales data, recent headlines are adding important context to Maui’s current landscape:
Mortgage Rates Dip Slightly
According to AP News, mortgage rates dropped slightly after inflation pressures eased. While still historically elevated, this drop improves borrowing power just as inventory rises—giving buyers added leverage.
Hawai‘i’s Economic Outlook Remains Grounded
Per the DBEDT’s May 2025 report, the state’s economic growth forecast was revised downward to 1.2%. While this signals slower momentum, it’s also stabilizing, supporting a real estate environment that favors long-term, value-based decisions rather than short-term speculation.
Vacation Rental Phase-Out Delayed
The controversial short-term rental Bill 9 continues to evolve. As reported by Maui Now, key amendments have been proposed that would delay enforcement until 2030. This buys time for current property owners and investors to pivot their strategies and reduces short-term pressure on pricing in key condo zones.
South Maui Spotlight: Strength in a Shifting Maui Housing Market
Although the overall Maui housing market is shifting in favor of buyers, South Maui (Kihei, Wailea, and Makena) continues to show notable resilience.
- 🏝 Pricing Stability: In these sought-after coastal areas, condo median prices hover around $800,000—a decline of only 7.5% YoY, compared to the islandwide drop, underscoring robust demand.
- 🏝 Faster Sales: Properties here are selling quicker, with average days on market closer to 120 days, compared to the islandwide average of 137 days.
- 🏝 Tighter Inventory: Inventory in these prime locations is tighter—approximately a 12-month supply—which keeps the market competitive even amid broader buyer-friendly trends.
- 🏝 Strong Seller Returns: Sellers in Kihei, Wailea, and Makena typically retrieve around 96% of the list price, bolstered by pending sales increases of roughly 18% YoY.
- 🏝 Robust Sales Volume: As highlighted in our volume analysis, approximately 41% of all condo transactions and nearly 30% of single-family sales are concentrated in these coastal communities. This robust activity speaks to the unique pull of coastal living in Kihei, Wailea, and Makena.
For buyers who crave the unique island lifestyle, and for sellers who hold properties in these areas, the Kihei, Wailea, and Makena submarkets continue to be strong, despite a softening islandwide trend.
What This Means for Sellers in Today’s Maui Housing Market
If you’re considering selling your property in today’s Maui housing market, the data and news suggest that strategic actions are now more important than ever:
- ✅ Price Competitively: With buyers empowered by increased inventory and extended decision periods, realistic pricing is essential.
- ✅ Invest in Presentation: High-quality digital marketing and professional staging can set your property apart in a market where every detail counts.
- ✅ Monitor Regulatory Trends: The vacation rental policy delay gives you extra time to adjust your plans; ensure your property is optimally positioned for long-term success.
- ✅ Leverage Local Strengths: If your home is located in Kihei, Wailea, or Makena, emphasize the premium appeal of these areas to attract motivated buyers.
Buyers: Leverage the Current Maui Housing Market Advantage
For buyers, the current market conditions open a window of opportunity:
- ✅ More Choice and Negotiation Power: With increased inventory in both condo and single-family inventory in the Maui housing market means you have the luxury of time to find a property that fits your needs—and negotiate favorable terms.
- ✅ Better Financing Terms: With mortgage rates easing, as noted by recent news, you can enjoy improved purchasing power and potentially lower monthly payments.
- ✅ Regional Opportunities: While prime areas remain competitive, the buyer-friendly conditions are creating opportunities to secure a home in even the most coveted neighborhoods.
- ✅ Informed Decisions: Stay abreast of market shifts and regional trends to ensure that you’re making a sound investment that aligns with your financial and lifestyle goals.
Final Thoughts
The May 2025 stats confirm that we’re in a different Maui housing market than just a year ago and that’s not a bad thing. More balance means more opportunity for thoughtful, informed moves. Whether you’re buying a retreat in Wailea or preparing to sell in Central Maui, today’s market rewards preparation, strategy, and experience. By taking a strategic, data-driven approach, both sellers and buyers can navigate these changes with confidence.
We’ve helped hundreds of buyers and sellers navigate Maui’s shifting terrain and we’re here to help you do the same. Let’s talk about your goals, and make a plan that works in today’s market.
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 of Maui Real Estate based on available data and should not be considered financial or legal advice.
Curious about the property in our featured image? It’s our listing at Wailea Ekolu #405. Full details at www.waileaekolu.info.
