Maui Real Estate Statistics for April, 2024

Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market. 

The report notes:

U.S. existing-home sales recently fell from a one-year high, dropping 4.3% month-over-month to a seasonally adjusted annual rate of 4.19 million, according to the National Association of REALTORS® (NAR), as higher interest rates and rising sales prices continue to keep some prospective buyers on the sidelines. Average 30-year mortgage rates have topped 7% in recent weeks, while the median existing-home sales price hit $393,500 as of last measure, a 4.8% increase from the previous month, according to NAR.

New Listings increased 3.7 percent for Single Family homes and 36.6 percent for Condominium homes. Pending Sales increased 5.8 percent for Single Family homes but decreased 31.2 percent for Condominium homes. Inventory increased 1.8 percent for Single Family homes and 141.0 percent for Condominium homes.

Median Sales Price increased 16.9 percent to $1,300,000 for Single Family homes and 8.4 percent to $962,500 for Condominium homes. Days on Market decreased 10.5 percent for Single Family homes but increased 22.1 percent for Condominium homes. Months Supply of Inventory increased 2.4 percent for Single Family homes and 176.9 percent for Condominium homes.

Warmer temperatures appear to have helped bring some sellers back to the market, providing additional options to home shoppers during the spring buying season. Total inventory was up 4.7% month-over-month and 14.4% year-over-year, for a 3.2 months’ supply at the current sales pace, according to NAR. Nevertheless, demand continues to outpace supply and properties are selling quickly, with the typical home spending 33 days on market nationwide, down from 38 days the month before.

MAUI HOMES: ACTIVE LISTINGS, PENDING SALES, AND SALES*

Active Listings: 233 homes from $720,000 for a home for sale in Hana to $42,500,000 for a home for sale on Keawakapu Beach.  This is followed by a $33,000,000 oceanfront home for sale in Makena and a $30,000,000 oceanfront home for sale in Kapalua Resort
Pending: 143 homes from $490,000 Leasehold for a home in Hawaiian Home Lands to $9,975,000 for a home in Kula.
Sold (2024): 276 homes from $405,000 in Haiku to $18,500,000 for a home in Keahou Makena

MAUI CONDOS: ACTIVE LISTINGS, PENDING SALES, AND SALES 

Active Listings: 537 condos listed from $235000 Leasehold for a condo in Honokowai to $18,000,000 for a condominium residence at Wailea Point
Pending: 110 condos pending, ranging from $259,000 for a condo in Kahului to $6,495,000 for a condominium at the  Montage Kapalua Bay
Sold (2024): 366 condos sold, ranging from $95,000 to $12,000,000 for a condo at Montage Kapalua Bay

At the last update, the Active listings were 437 and pending sales were 171, This large increase in listings and decrease in pending sales is likely attributable to theproposed changes to Maui County's Short Term Rental rules and regulations.  

MAUI LAND: ACTIVE LISTINGS, PENDING SALES, AND SALES 

Active Listings: 129 parcels from $150,000 in Keanae to $55,000,000 for over 160 acres in Makena
Pending: 28 lots from $299,000 in Hana to $2,000,000 for a lot in Kula
Sold (2024): 81 lots from $175,000 in Haiku to $11,700,000 for 26 acres sold as part of Discovery's Makena Golf and Beach Club.

*Molokai and Lanai are not included in the above-written summaries, although they are a part of Maui County.  This data is taken from the MLS on the date of this post, 5/15/24

Read the full report and see how it compares to prior years here: Maui Real Estate Statistics