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Aloha
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In this newsletter:
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Beautiful Upcountry Kula Meadows
62 Opalipali Place
Kula
$4.995M (FS)
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May Market Report 2024
Maui's real estate market has shown stability over the past year, with total sales, median prices, and days on market remaining within a narrow range when comparing May 2024 to May 2023. Year over year, single-family home prices have appreciated by 4% to $1,300,000, while condos are up by 2% to $845,000. Of the two market categories, demand for single-family homes remains strong, whereas condos are facing mounting pressure from a drop in visitor arrivals and uncertainty about the Minatoya list.
SINGLE-FAMILY HOME TRANSACTIONS
A slight uptick in sales combined with declining days on market is a healthy indicator that buyers remain active in the Maui single-family home market, with nearly 1 in 4 properties being sold above the asking price. The markets with the highest market activity for May were Wailuku, with 18 total sales and a median price increase of 9%, and Makawao, with 12 total sales, nearly doubling the area’s historical average. Across the island, areas with higher price points are seeing longer days on market.
CONDOMINIUM TRANSACTIONS
A sharp decline in condo sales in Kihei (-38%) and Kaanapali (-36%) is likely the result of Maui County’s proposed legislation to phase out short-term vacation rentals for 7,000 properties on the Minatoya List. With so much uncertainty, anticipate the condo market to experience some volatility in both sales activity and demand.
Mahalo Nui Loa,
Ken Smith R(S), Melissa Smith R(B), Gregory Smith R(B)
The Smith Team
P.S. Happy Juneteenth commemorates the day Union Soldiers declared the end of the Civil War and the freeing of the enslaved. We honor and remember the resilient spirit of those who fought for freedom for all.What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024What’s open, closed for King Kamehameha Day 2024
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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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311 (268)
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140 (101)
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761 (532)
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+2 |
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Condos
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656 (318)
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98 (44)
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973 (393)
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+12 |
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Land
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179 (85)
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25 (3)
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188 (80)
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-2 |
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Total
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1146 (671)
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263 (148)
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1922 (1005)
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+12 |
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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
234 Molehulehu Street
Kahului
$1.2M (FS) |
This single-story residence offers the perfect blend of comfort and style with 3 bedrooms, 2 bathrooms, and a spacious open-concept design. Enjoy the convenience of central air conditioning throughout the property, ensuring year-round comfort in Maui's beautiful climate. As you step inside, you'll be greeted by a naturally bright and airy living area, perfect for relaxing or entertaining guests.
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14 Lantana Place
Kahana
$1.499M (FS) |
This single-story home in Kahana Ridge is looking for new occupants to inhabit it's walls. With 4 bedrooms, 2 bathrooms, and 1,755 square feet of living space, the property provides ample room for a variety of uses and living arrangements. Features a fully owned, 26 panel Photo-Voltaic system, ensuring energy-efficient living.
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181 Iliwai Loop
Kihei
$1.698M (FS) |
Excellent investment property, great location near beaches and conveniences, two structures on one property, separated from one another to provide privacy and independence between occupants. Both units have private fenced in yards, electrical meters to optimize renting. Quality sturdy build materials throughout both houses provide a homey feeling in both the main house and cottage.
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Homes Under $1M
31 Maha Road
Makawao
$865K (FS) |
This cozy home blocks from Makawao town features 3 bedrooms and a bath. The home has a carport with room for the 2023 installed washer/dryer and the solar hot water heater. The backyard is completely fenced. The home is in the Na Hale Kilinahe neighborhood, refurbished in 2008/2009.
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62 Ainaola Street
Wailuku
$900K (FS) |
This 3 bedroom, 2 bath home has just undergone a full renovation that encompasses all new appliances, vinyl windows and doors. It even has an upgraded plumbing and electrical systems, as well as luxury vinyl plank flooring, new cabinets with quartz countertops and all new plumbing and electrical fixtures throughout.
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1091 Puana Street
Makawao
$998K (FS) |
This cozy 3 bedroom, 1 bath main house boasts a comfortable 820 square feet of living space, complemented by a cute 1 bedroom, 1 bath Ohana offering an additional 384 square feet all on an 8075 sq ft lot. The recently installed septic system is a great start for the new owner to potentially expand and upgrade both units.
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850 Makaala Drive
Wailuku
$999.9K (FS) |
A beautifully remodeled 3 bedroom, 2 bathroom home located in Waiehu Terrace. The stylish kitchen features quartz countertops, stone backsplash, and stainless steel appliances. Tasteful design continues throughout the home with wood-style flooring, tile, elegant crown molding, reclaimed wood accent wall, and light tones of paint.
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Vacation Condos Over $1M
Kaanapali Plantation 20
Kaanapali
$1.375M (FS)
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Highly sought after single-story floor plan. Great Views of year-round sunsets and the neighbor islands. This is a turnkey property with upgraded kitchen and baths and newer appliances.
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Palms at Wailea 1001
Wailea
$1.85M (FS)
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A ground floor, 2 bedroom, 2 bath condo in the highly desirable Building 10. This ideally located unit, next to the greenbelt, offers privacy and expansive ocean views from both the living area and the large lanai. As a turnkey opportunity, this condo comes fully furnished, it has been tastefully updated and maintained throughout the years.
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Wailea Elua 1702
Wailea
$4.95M (FS)
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This rare, sought-after upstairs 2 bedroom, 2 bath oceanfront unit offers a unique opportunity to experience the epitome of island living at it finest! Enjoy fabulous ocean views and stunning sunsets from the living room and spacious lanai. Meticulously maintained, the unit features recently installed A/C and appliances.
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Vacation Condos Under $1M
Kihei Akahi D-205
Kihei
$799K (FS) |
This beautiful air-conditioned, 1 bedroom, 1 bath condo is just steps to the beach. One of the most well-known lifeguard-monitored beaches in all of Maui, boasting great snorkeling and swimming. This unit sits back on the property in building D where it is protected from road noise. It is fully air-conditioned with a quiet.
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Papakea Resort E-203
Honokowai
$865K (FS) |
Lovely views of the ocean, the tropical grounds and the pool from your own, newly furnished, private lanai. Sit back and relax in the living room or on the lanai. Snorkel off Papakea where you may see sea turtles swim by. The interior features some recent upgrades; new contemporary furnishings in the living room and dining room, most bedroom furniture and two new flatscreen TV’s.
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Koa Resort 5-D
Kihei
$899K (FS) |
Turn-key ground floor. Unit in Building 5 which is the closest to the Ocean. Tastefully remodeled unit ready for short term rentals. Excellent rental history. Washer/Dryer in Unit. Split A/C. Complex features Pool, Tennis/Pickleball Courts, BBQ area and over 5 acres of lush tropical landscaping.
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Residential Condos Over $1M
Hokulani Golf Villas 28
Kihei
$1.995M (FS)
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This single-level home boasts sleek tile flooring throughout, enhancing its sophisticated ambiance. Natural light encompasses the expansive living area through large windows, offering stunning views of the lush surroundings. The heart of this home is a modern kitchen with gleaming granite countertops and efficient stainless steel appliances.
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Wailea Palms 3106
Wailea
$3.25M (FS)
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This elegant and contemporary residence offers breathtaking panoramic ocean views from almost every room and features seamless indoor-outdoor living with arguably the best floor plan in the complex. The open and inviting main living space is distinguished by high-vaulted ceilings and floor-to-ceiling windows that flood the rooms with natural light.
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Residential Condos Under $1M
Maui Lani Terraces A-107
Honokowai
$279K (FS)
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This first floor studio has been tenant occupied by a long term tenant paying $1500 per month. Recent upgrades include luxury vinyl floors, new stainless dishwasher, new bath and surround. Conveniently located in A building close to shopping, dining and the Maui bus line. The lease is through December 2024.
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Puuone Towers and Plaza 403
Wailuku
$399K (FS)
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This complex located in the heart of Wailuku offers awe-inspiring views of the West Maui Mountains and the blue waters of the North Shore. Relax on your own private lanai as you enjoy the gentle Hawaiian breeze and soak in the breathtaking panoramic ocean and mountain views.This complex is conveniently located near shopping, restaurants, and recreational activities, this is the ideal opportunity to experience the best of Island living.
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Kanoelani Apartment C
Kihei
$615K (FS)
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This cute 2 bedroom, 2 bath, ground floor, corner unit has been well maintained and has upgraded vinyl flooring through out the entire living space. The kitchen has been fitted with new cabinets, microwave, and quartz countertops. Owners have installed a split ac in the living room to keep the entire unit cool if taking a dip in the privately fenced.
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Vacant Land
30 Kamila Street
Kula
$719K (FS)
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Situated at the ideal elevation of approximately 3,200 ft above sea level, this parcel enjoys mild climate year-round. Views of dramatic sunsets, the ocean, the West Maui Mountains, bucolic pastures and of course, Haleakala. A rare find, with its Rural Zoning and an installed County water meter plus access to standard utilities including underground electric.
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