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| Issue 1145 |
March 11th, 2025 |
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Aloha
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In this newsletter:
Land
New Properties
Price Reductions
Short Sales
Homes (1)
Condos (1)
Land
New Properties
Price Reductions
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Luxury Oceanfront
Lifestyle in Maui
3254 South Kihei Road
Kihei
$31M (FS)
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Maui’s Vacation Rental Market: Signs of Recovery Amidst Past Challenges
In 2024, Maui’s vacation rental market faced significant hurdles, notably in May when occupancy rates dipped to 49.5%, marking the lowest since September 2023. This decline was attributed to reduced demand, which saw a 19.4% decrease compared to 2023, and a 40.3% drop from pre-pandemic levels in 2019. Despite these challenges, the average daily rate (ADR) for vacation rentals rose by 4.6% from 2023, reaching $360, a substantial 56.3% increase from 2019.
As of January 2025, there are encouraging signs of recovery. Maui County’s vacation rental supply increased by 7.3% compared to January 2024, totaling 224,100 available unit nights. Demand also saw a 4.5% uptick, with 134,900 unit nights booked. However, occupancy rates experienced a slight decline of 1.6 percentage points from the previous year, settling at 60.2%. The ADR continued its upward trend, rising by 11.2% to $474 compared to January 2024.
Looking ahead to 2025, industry analyses project a positive trajectory for Maui’s rental market. The median rent is expected to reach $2,400 per month, marking a 10% increase from 2024. Occupancy rates are anticipated to remain robust at 85%, driven by sustained demand from tourists and remote workers. Short-term rentals (STRs) are projected to constitute 40% of Maui’s rental inventory, with significant concentrations in areas like Kihei and Ka’anapali.
In summary, while 2024 presented notable challenges for Maui’s vacation rental sector, current data and forecasts for 2025 indicate a resilient market poised for recovery and growth.
Market Watch
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Active
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Pending
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Sold
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Change
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Homes
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413 (364)
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124 (96)
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732 (546)
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+2 |
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Condos
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839 (332)
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98 (37)
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793 (344)
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-5 |
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Land
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187 (82)
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32 (10)
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162 (57)
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+5 |
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Total
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1439 (778)
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254 (143)
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1687 (947)
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+2 |
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1. The numbers in parentheses reflect the number of listings over $1M
2. Sold listings are for the previous 12 months.
3. Change is the increase or decrease in the number of active listings from the previous week.
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Homes Over $1M
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115 Kumula'au Ohia Loop
Wailuku
$1.495M (FS)
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This exquisite home is truly a gem, showcasing numerous upgrades and meticulous attention to detail throughout. From the moment you step inside, you’ll be greeted by thoughtful enhancements, including beautiful hardwood floors, an elegant crystal chandelier, pendant lighting, and split AC units in the great room and primary bedroom, ensuring year-round comfort.
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18 Luanaiki Place
Kihei
$1.575M (FS)
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This single-level, 3 bedroom, 2 bathroom home offers a perfect blend of convenience and tranquility. Situated just 1 mile from the popular Kamaole Beach Park III and located on a quiet cul-de-sac, this property promises a peaceful retreat while being close to everything you need. Step inside to an inviting open floor plan with laminate flooring throughout.
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194 East Panana Place
Wailea
$3.975M (FS)
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This property has ocean views, a resort-style pool, and the finest in modern design. Thoughtfully crafted with an open living concept, Fleetwood pocket doors seamlessly retract, creating a fluid connection between the kitchen, living room, and pool. The outdoor living space invites easy entertaining and picturesque sunsets. Skylights throughout the home bathe it in natural light.
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5065 Makena Road
Makena
$8.75M (FS)
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Seize the opportunity to live the Makena lifestyle in this exceptionally remodeled contemporary 3 bedroom 3 bath, fully furnished, executive home. Property is complemented by a luxurious pool and spa and custom sunset deck, all perched atop historic Makena Landing beach park. This gated home is privately situated with unique 360 degree ocean and mountain views from 5 lanais.
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998 Kauhikoa Road
Haiku
$695K (FS)
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Do not miss this opportunity to own your home. organic and hidden garden is located very close to Haiku town. The Kauhikoa Hale is very beautiful and isolated place. The spacious living room ,open plan to kitchen, 2 bedroom 1 bath home with covered Lanai, attached carport with a separate laundry room and a storage room.
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641 Linekona Place
Wailuku
$885K (FS)
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Property consist of 2 bedrooms, 1 bathroom, beautifully renovated, new flooring, new cabinets, 1 new split system AC, Countertops, kitchen hood, all appliances are brand new, new stamped concrete design on driveway and patios, close to big left surf spot. Need to see to appreciated. Home to be sold as is.
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306 Kopiko Street
Wailuku
$925K (FS)
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Ocean view from kitchen and back bedroom. Iao Valley mountain view from living room and front bedroom. The downstairs has a separate living room area that has been used in the past as another bedroom which would bring the total house bedrooms to 5. There is a connecting internal stairwell that can be locked to keep the downstairs and upstairs living areas separate.
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135 Poniu Circle
Wailuku
$975K (FS)
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A beautifully refreshed home in one of Wailuku’s most desirable and peaceful neighborhoods. Nestled near the breathtaking. Iao Valley and just minutes from shopping, dining, and schools, this residence offers both convenience and tranquility. Step inside to find a freshly painted interior, setting the stage for your personal touch.
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Wailea Ekolu 1705
Wailea
$1.5M (FS)
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This modern single level 2 bedroom, 2 bath ground floor residence. Open-concept design with luxury gray vinyl plank flooring throughout. Stylish interior with remodeled features like beautiful white cabinets, stainless steel appliances, and quartz counter tops. The bathrooms feature white tiled walls in the showers with glass to add an elegant touch.
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Makena Surf E-205
Makena
$4.985M (FS)
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This rare beachfront condominium is perfectly positioned in the complex and is perched above one of Makena's finest beaches. Enjoy panoramic ocean and outer island views form this beautifully furnished & decorated 2 bedroom, 2 bath unit featuring a spacious open floor plan with living, dining and kitchen areas opening to the expansive lanai for seamless indoor/outdoor living.
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Makena Surf F-108
Makena
$5.15M (FS)
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This ground floor 2 bedroom, 2 bathroom luxury condominium is just steps to the beach with unobstructed ocean views. Features include a spacious open floor plan with the living, dining and kitchen areas opening to an expansive lanai and grass area for seamless indoor/outdoor living. This unit is being sold furnished with some exclusions. Makena Surf is a beautifully designed beachfront community situated on 15 acres.
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Vacation Condos Under $1M
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Kalama Terrace L-204
Kihei
$475K (FS)
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This charming 1 bedroom, 1 bath unit. This condo features a newer gas stove and refrigerator, along with granite counters in the kitchen and updated wood cabinets, tiled shower walls, and tiled floors throughout. Enjoy the view of the peaceful grounds from your covered lanai area. Unit comes fully furnished.
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Maui Kai 103
Kaanapali
$649.9K (FS)
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This oceanfront studio at Maui Kai offers the ultimate in beachfront living. Enjoy unparalleled views of the Pacific Ocean and the stunning sunsets that Maui is famous for, all from the comfort of your private getaway. The studio has been thoughtfully updated, featuring beautiful tile floors and a remodeled bathroom, blending modern comfort with island charm.
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Maui Sunset B-304
Kihei
$749K (FS)
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Most affordably priced 1 bedroom, two bath condo in highly desirable Maui Sunset Resort at time of listing. Many recent and tasteful upgrades such as stainless steel appliances, new luxury vinyl flooring throughout, tile flooring in the bathrooms with updated showers and new lanai coating. Enjoy sunsets from your private, spacious lanai perfect for entertaining family and friends.
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Kaanapali Shores 324
Kaanapali
$779K (FS)
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The unit’s cohesive furnishings are primarily from Mind’s Eye Interior, known on Maui for quality furniture and decor. Aston Ka’anapali Shores is a hotel-zoned, 10-acre, luxury resort with a welcoming lobby, two swimming pools (one oceanfront and one resort-style with water features), two spa pools, a poolside restaurant, saunas, a fitness center, two tennis courts, and a pickleball court.
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Residential Condos Over $1M
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Kanani Wailea 17
Wailea
$1.995M (FS)
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Welcome to Kanani Wailea, where luxury meets comfort in this stunning 3 bedroom, 2.5 bathroom ocean view single family residential condominium. With only 38 stand alone units in the gated complex this exquisite Wailea home offers a perfect blend of island living, modern elegance and privacy. The open and spacious travertine flooring seamlessly integrates the living, dining, and kitchen areas.
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Wailea Palms 3202
Wailea
$2.366M (FS)
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Wailea Palms fully furnished has a private location in the complex, on the second level overlooking meticulously manicured landscaping and a putting green. The light-filled living area has double sets of glass sliding doors which open to a spacious lanai and a stunning ocean view, which includes the island of lanai. In season, one can whale-watch from this vantage point.
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Residential Condos Under $1M
Flats at Kamalani 3901
Kihei
$679K (FS)
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This ground floor unit has no stairs, wide doorways, and nicely updated with Luxury Vinyl Plank floors, four wall AC units, ceiling fans in every room, and a little back yard for your BBQ and outdoor relaxation. Gas cooking and a gas tankless water heater help keep your electric bills low. Your two side-by-side parking spaces are just steps from your front door, and every convenience in Kihei is just minutes away.
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Gardens Upcountry 1
Pukalani
$835K (FS)
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Spacious 2 bedroom, 2 bath home featuring high ceilings and incredible floor plan design and layout. Private patio and grassed garden backyard. The property landscape is beautifully maintained once a week thru maintenance fees. Corner unit has large spacious floor plan, great kitchen storage, 2 large bathrooms, one with walk-in shower.
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Milo Court at Kehalani 57
Wailuku
$960K (FS)
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This sweet, semi-attached 3 bedroom, 2.5 bathroom townhome has been lovingly maintained with upgrades throughout. Enjoy the ease of open-concept living with a spacious great room that seamlessly flows into a dining nook and well-appointed kitchen, making it flexible for anything from quiet evenings relaxing at home to fun times hosting gatherings.
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 577 Kauna Lipo DriveWailuku
$610K (FS)
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Enjoy breathtaking ocean and mountain views from every angle. Situated near the established Wailuku Heights neighborhood, this lot is located near the end of a cul-de-sac, offering added privacy. With county water and sewer, wide paved roads, sidewalks, and streetlights, this community is thoughtfully designed for modern living.
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The Smith Team
www.MauiSales.com
(808) 572-0866
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