It is a new year and that means a new moment in real estate on Maui. Every month I like to take a break from featuring my listings in places like Kapalua Bay and Coconut Grove to really get down and dirty about the market on the island. So this year let’s just jump right into it, shall we?
According to the latest statistics from the Realtors Association of Maui, things continue to look good for the market on Maui and as a whole. It looks like construction will gain speed and more affordable units will be available on the market.
As for west Maui, which is the area I prefer to focus on, sales and home prices continue to look good. As for single-family homes in this area of Maui, or Kaanapali, there were three units sold in January for a median sales price of $2,100,000. That is up from the same time last year where the median sales price was $1,484,500. That’s down from December of 2019, where the median sales price was $3,313,000.
One home sold in Kapalua for $2,020,000. Lahaina’s market looks good with a median sales price of $1,025,000. That is up compared to December and at the same time last year. Prices and sales are both up. As for Napili, Honokowai, and Kahana, the sales and home prices remain steady at $1,100,000. That is down some from December 2019, where the median sales price was $1,225,000.
As for condo sales, Kaanapali had a high number of sales in January at 18. Kapalua prices and sales were down but not by much. Lahaina condo prices increased with a median sales price of $662,190 with 11 homes sold, which is up from a median sales price in December of $586,274 and the same time last year at $385,500. As for Napili, Kahana and Honokowai, home sales and prices continued to remain steady. The median sales price did not change compared to the same time last year at $489,500.
That’s a look at the real estate market on Maui. If you are interested in seeing what properties are for sale here, then make sure to contact me right away. With new inventory popping up, prices increasing, and homes selling fast now is the time to buy so don’t hesitate. I hope to hear from you soon. Aloha.