Maui Real Estate Market Update – March 2025: Is there a Shift?

April 14, 2025

Categories: Makena Real Estate - Maui Real Estate Information - Maui Real Estate Market Reports

MAUI SUNSET, MAUI REAL ESTATE MARCH REPORT, FIRST QUARTER REPORT

Maui Real Estate Market Update – March 2025: Is the Shift Here to Stay?

The Maui housing market is doing something interesting—ADJUSTING. And if you’re paying attention, you’ll see signs of transformation: higher inventory, fewer sales, and prices finding new ground.

Here’s a look at what March 2025 is revealing—and what it might mean if you’re thinking about buying or selling real estate on Maui.

However, keep in mind that even on an island like Maui, microeconomics are always at play. When you look more closely—whether it’s homes under $2 million, a specific condo complex, or a distinct pocket of the island—you may find a completely different set of circumstances than what the overall market report suggests. I will be writing an article on homes listed under 2 million! That is a very different market and shows a very different picture! In other words that market is still much in demand. Interesting times!

If you’d like a more nuanced, localized perspective, I’m happy to help. Email me at JeannieKongEvarts@gmail.com or call me at 808-276-1832.

As with headlines or national statistics, it’s essential to look beyond the surface. Broad strokes may offer a starting point, but they’re rarely the most accurate—or the wisest—way to move forward. When it comes to real estate, details matter.

Click here for the full report.

Photo taken by Jeannie during sunset from Haleakala

Single-Family Homes: Holding Steady Amid the Slowdown

Inventory jumped 54.8%, offering more choices for buyers.
Closed sales dropped 35.5%, showing buyer hesitation.
Median price remained stable at $1.295M (-0.3%), but the average price rose 33.2%—likely driven by high-end transactions.
Days on market decreased by 17.8%, suggesting that well-priced homes are still moving.

Insight: While fewer homes are selling, serious buyers are still making offers—especially for properties that are priced thoughtfully and marketed well.

Condos: A Market Reset in Motion

Listings dropped 15.3%, yet inventory surged 72.1%.
Median condo price fell sharply by 36.8%—a standout stat that reflects shifting buyer preferences and perhaps post-fire market recalibrations.
Days on market nearly doubled (up 70.6%), indicating more negotiation and slower decision-making.

Insight: With so much condo inventory sitting, buyers have leverage—but sellers who adapt to this new pace and price expectation will still find opportunities.

How Close Are Sellers Getting to Their Asking Price?

One of the more subtle but telling metrics in any market is the percent of list price received—it gives us a sense of negotiation power, buyer urgency, and overall market temperature.

For March 2025 in Maui:

Single-family homes received 96.0% of their asking price on average (down from 96.6% last year).
Condos came in at 96.3%, down from 98.2% last March.
Overall, across all property types, sellers received 95.7% of list price—a 1.9% dip year-over-year.

This means buyers are negotiating a little more than they were a year ago. Sellers may still be pricing optimistically, but today’s market is calling for discernment.

Insight: Price it right, and your chances of sellign improve. But overpricing in this environment could mean sitting longer on the market—or seeing price reductions that can be more costly than setting a smart price from the beginning. BUT I CAUTION YOU, PLEASE TALK TO AN EXPERIENCED, TRUSTED REAL ESTATE AGENT TO GET A MORE ACCURATE AND NUANCED PICTURE OF YOUR PROPERTY. AGAIN A BROAD BRUSH TO COME TO A CONCLUSION IS NOT ADVISED IN THIS MARKET.

The Bigger Picture: A Maui Market in Reflection

Closed sales (all properties) dropped 36.4% compared to last year.
Inventory (all properties) rose 55.7%.
Median sales price dropped 14%, yet average price increased by 17.9%—a nuanced dynamic driven by a few large luxury deals.
Affordability index improved slightly (now at 38), though housing is still far from accessible for many.

What This Means for You

This isn’t a bad market. It’s a thoughtful one. It also depends on where you stand.

For Buyers: Patience is power. You have more options now than you’ve had in years. A great buyer’s agent can be very helpful in navigating you!

For Sellers: Expect discernment. Today’s buyers are informed, intentional, and expect value for price. You must look at your property through a buyer’s eye and have objectivity. This is where an experienced agent is incredibly helfpul.

For everyone: Real estate is seasonal, emotional, and local. The data tells just part of the story…

Final Thought

Maui isn’t just a market. It’s a place I call and my family call home. It has given so much too us and is resilient. I feel fortunate to call it home. I would be honored to assist you should you decided this is the place where you want to reside, vacation and/or invest.