Maui Luxury Real Estate Market Update – April 2025 | Homes $2.5M+ & Condos $1.5M+
Photo by Jeannie
Luxury Homes $2.5M+ and Condos $1.5M+: What the Data Really Says
As of April 30, 2025, Maui’s luxury real estate market is showing the effects of high inventory, selective buyers, and macroeconomic caution. But despite slower movement, this segment still attracts interest—especially from cash-ready, lifestyle-driven buyers seeking long-term value and personal enjoyment.
Here’s a detailed look at how the luxury single-family and condominium markets are performing, and what it means for you.
Luxury Single-Family Homes ($2.5M+)
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160 active listings
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15 pending (under contract)
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35 homes sold since January 1, 2025
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Median Days on Market (DOM): 101
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Average Days on Market (DOM): 140
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Sales breakdown:
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25 cash purchases
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10 financed purchases
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Note: Pending sales are not included in active inventory counts. Once a home goes under contract, it is removed from MLS active status.
Interpretation
Only 15 of 175 homes (160 active + 15 pending) are under contract, which puts the absorption rate at 8.6%—a clear indicator of a buyer’s market.
The 101-day median and 140-day average DOM )Days on Market) suggest properties are taking longer to sell. However, there’s a nuance worth noting:
💰 Over 70% of these luxury home sales were cash transactions, which typically close faster than financed ones. Since DOM is calculated from listing to closing, cash offers often shorten the total days on market by bypassing loan approval, underwriting, and appraisal delays. So, even with this high cash activity, longer DOM figures still reflect buyer hesitation and selective decision-making.
Luxury Condominiums ($1.5M+)
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197 active listings
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13 pending (under contract)
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47 condos sold since January 1, 2025
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Median DOM: 86 days
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Average DOM: 121 days
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Sales breakdown:
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37 cash purchases
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8 financed purchases
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2 were 1031 exchange purchases
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As with homes, pending listings are not included in the active condo inventory.
Interpretation
With 13 of 210 total listings (197 active + 13 pending) under contract, the absorption rate is approximately 6.2%—also firmly a buyer’s market.
The median DOM of 86 days suggests some movement in this segment, especially for updated units or vacation-rentable properties. The average DOM of 121 days reveals that many listings are lingering longer—likely due to pricing mismatches, location-specific concerns, or uncertainty about HOA rules or zoning.
💸 As with single-family homes, nearly 80% of these sales were cash—which likely helps lower the DOM average. Still, extended timelines indicate buyers are comparing options closely and prioritizing long-term value.
Summary Thoughts: A Market of Patience, Not Panic
LIMITED INVENTORY OF TROPY/LEGACY PROPERTIES
“While inventory in the $2.5M+ and $1.5M+ segments is growing, truly exceptional homes and condos — with rare views, architectural distinction, or legacy potential — remain limited. These trophy properties tend to hold value better and sell more quickly when priced appropriately, even in a slower market.
LIFESTYLE INVESTING
“Many buyers in this space are not looking for a quick flip — they’re investing in lifestyle, legacy, and long-term enjoyment. For them, Maui is not just an asset class but a retreat, a dream, or a multigenerational investment. That perspective means today’s slower market may actually offer better entry opportunities for those ready to hold long-term.”
While DOM is longer and absorption is low, the luxury market isn’t stalling—it’s simply moving at a more measured and discerning pace. With a high percentage of cash buyers, properties are still closing!
Here are some notable active, pending and sold at 10 Million and above. For Condos Click here. My Brokerage, Maui Real Esstate Advisors LLC had the highest Condo sale. Click here.
For Homes at 10 Million and above, click here.
📩 Thinking of buying or selling a luxury property on Maui?
Let’s talk through your options with real data and a tailored strategy.
Email: JeannieKongEvarts@gmail.com | Call/Text: 808-276-1832
Information gathered from Realtors Assoc. of Maui. Information deemed reliable but not guaranteed.
