Maui Real Estate Market Update | July 2016
Posted by Courtney M. Brown on Saturday, August 27th, 2016 at 6:49pm.
Maui Real Estate Market Update | July, 2016
The July Maui Real Estate Market Update is now available for your review. The report details sales activity through July, 2016 as compared with that of the prior year. Across the island, the median sales prices are up for homes, condominiums and land. Sales volume increased in both number of sales and sales volume for condominiums when comparing this year over last. However, the home and vacant land market didn't fare as well. Read more...
Maui Real Estate by Property Type: July 2016 vs. 2015
As one might expect, the bulk of sales are condominiums (53%) and homes (43%), with vacant land (3%) and other (6%). Island wide, the Maui Real Estate Market saw the following when comparing this year over last by property type:
| % Change July 2016 v 2015 | Number of Sales (#) | Median Sales Price | Sales Volume ($) |
| Residential | 0% | +4% | -6% |
| Condominium | +8% | +4% | +6% |
| Land | -4% | +3% | -8% |
The highest sales volume centers around the resort areas of West Maui ($53,339,99) and South Maui ($39,646,330). This is to be expected as there are more condominiums available in the resort markets of Kapalua, Napili, Kahana, Kaanapali, and Lahaina in West Maui, and in Kihei, Wailea, and Makena in South Maui. Condominiums often appeal to second home buyers for their ease of care, and many allow vacation rentals. For second home owners, many elect to rent when not in residence, and condos are often easier to rent than homes, which require a Short Term Rental Home permit.
Maui Real Estate by Area Volume (# and $): July 2016 vs. 2015
West Maui is the only region to experience an increase in both Sales Volume ($) and Number of Sales (#) across the three categories. The high % change in the North Shore condominium market is skewed by relatively few sales, as are sales statistics for East Maui.
| Volume | Condo (#) | Condo ($) | Home (#) | Home ($) | Land (#) | Land ($) |
| West Maui | 25% | 20% | 12% | 14% | 50% | 61% |
| South Maui | -7% | -11% | 2% | -34% | -31% | -57% |
| North Shore | 50% | 63% | -3% | -8% | 8% | 44% |
| Upcountry | NA | NA | 12% | 20% | -26% | -33% |
| East Maui | NA | NA | 0% | 8% | NA | -27% |
| Central | 15% | 21% | -10% | -1% | -31% | -52% |
Buying or Selling Maui Real Estate?
Please contact me with any questions about the Maui real estate market and properties for sale. To search Maui Real Estate listings, visit LuxuryRealEstateMaui.com. You'll find offerings including Maui Oceanfront Homes for Sale, as well as of condominiums, homes and land in the resort areas of West and South Maui and real estate islandwide.
West Maui
Condos: Kapalua Condos for Sale, Napili Condos for Sale, Kaanapali Condos for Sale, Lahaina Condos for Sale
Homes: Kapalua Homes for Sale, Kaanapali Homes for Sale, Lahaina Homes for Sale, Launiupoko Homes for Sale
Land: Kapalua Land for Sale, Kaanapali Land for Sale, Lahaina Land for Sale, Launiupoko Land for Sale
South Maui
Condos: Wailea Condos for Sale, Makena Condos for Sale
Homes: Wailea Homes for Sale, Makena Homes for Sale
Land: Wailea Land for Sale, Makena Land for Sale
North Shore:
Condos: North Shore Maui Condos for Sale
Homes: North Shore Maui Homes for Sale
Land: North Shore Maui Land for Sale
Other areas of interest: Upcountry, East Maui, Central Maui, and Lanai
Mahalo to Fidelity National Title for providing the July 2016 Maui Real Estate Market Report. The sales information compiled in these reports is taken from the Realtor's Association of Maui. It is deemed reliable, but is not guaranteed.
Courtney M. Brown, R(S) & Team
Vice President
Island Sotheby's International Realty