Resort Markets West & South Maui Slow | East Maui, Lanai See Spike
As it is my commitment to keeping the local community informed, I am pleased to share with you the most recent West Maui home, land, and condo sales reports for your review — covering Kaanapali, Kapalua, Lahaina, and Launiupoko. You’ll find real estate sales volume, days on market, list versus sold price, price per square foot, and significantly more.
Kaanapali Hillside | One of Maui’s most desirable neighborhoods
West Maui April & May 2020 Headlines
For further details on any of the statements below, please refer to the included sales reports
- 75 sales total | April – 45 | May – 30
- For comparison March alone had 80 | 2019 avg is 65/mo
- 27 of those 75 were New Development Sales at Luana Kai & Kahoma Village (36%)
- Condo Market Hits the Skids | More Homes Sold in May Than Condos
- Million Dollar Maui | High End Real Estate Market Gaining Traction
- Median Sales Prices:
- Homes: April $1.3M | May $1.0M
- Condos: April $885K | May $800K
- Land: April $355K | May $1.5M
- Highest Priced Sales:
- Home – $3M in Lahaina’s Launiupoko neighborhood
- Condominium – $3.1M at Kaanapali’s Honua Kai
- Lowest Priced Sales:
- Home – $690K in Lahaina’s Kahoma Village neighborhood
- Condo – $370K (FS) at the Spinnaker in Lahaina & Honokowai’s West Maui Breakers
The Stories Behind The Headlines
While I hear stories of mainland markets seeing a recent surge of activity as homeowners seek to upgrade their living environment now that working from home, extra space and quality of integrated operational life is the next norm of the world we live in.
On Maui, as a whole we haven’t quite seen that surge yet, but the activity trend follows a similar pattern in the local resident markets of Kahului & Wailuku or Central Maui – activity numbers not nearly as affected by this pandemic, while the resort areas of West & South Maui where 75-80% of the transactions are condominiums/rentals (aka – mainland Buyers), are drastically affected by comparison.
West & South Maui markets are fueled by visitors and currently there are zero direct mainland flights, a 14 day quarantine period and moratorium on vacation rentals.
Conversely, on the positive side remote/isolated & private areas like East Maui and Lanai are seeing a spike in activity and since May 1st, the luxury market is gaining traction.
Let the numbers speak for themselves.
New Contract Volume
Since 3/13/2020
| Region | # New Contracts | New Contract/Day | % + or – Norm |
| Maui | 336 | 3.9 | -52% |
| West Maui | 65 | 0.7 | -59% |
| South Maui | 93 | 1.1 | -65% |
| UpCountry | 42 | 0.5 | -48% |
| Central | 93 | 1.1 | -18% |
| North Shore | 28 | 0.3 | -36% |
| East | 3 | 0.0 | 24% |
| Molokai | 6 | 0.1 | -78% |
| Lanai | 6 | 0.1 | 24% |
Historical Median & Average Price Comparison
| Year | Median Sold Price | Median Price % Yr Gr | Avg Sold Price | Avg Price % Yr Gr | DOM | # Sold |
| 2020 | $1,400,000 | 13.2% | $1,922,564 | 11.3% | 146 | 53 |
| 2019 | $1,236,922 | 2.4% | $1,727,294 | -3.2% | 173 | 137 |
| 2018 | $1,207,500 | 9.8% | $1,785,099 | 15.4% | 188 | 130 |
| 2017 | $1,100,000 | 4.8% | $1,546,633 | -3.0% | 185 | 139 |
| 2016 | $1,050,077 | 5.0% | $1,595,145 | 14.0% | 194 | 147 |
| 2015 | $1,000,000 | 1.5% | $1,399,530 | -4.6% | 204 | 116 |
| Year | Median Sold Price | Median Price % Yr Gr | Avg Sold Price | Avg Price % Yr Gr | DOM | # Sold |
| 2020 | $675,000 | 16.5% | $897,081 | 6.6% | 209 | 223 |
| 2019 | $579,500 | 1.7% | $841,913 | 1.0% | 182 | 614 |
| 2018 | $570,000 | 4.2% | $833,812 | 2.8% | 157 | 549 |
| 2017 | $547,000 | 8.0% | $811,436 | 9.0% | 164 | 482 |
| 2016 | $506,250 | -0.7% | $744,555 | -3.9% | 211 | 490 |
| 2015 | $510,000 | -1.0% | $774,910 | -3.1% | 240 | 445 |
| Year | Median Sold Price | Median Price % Yr Gr | Avg Sold Price | Avg Price % Yr Gr | DOM | # Sold |
| 2020 | $601,788 | -19.8% | $730,808 | -26.2% | 125 | 10 |
| 2019 | $750,000 | -7.7% | $990,609 | 1.1% | 256 | 23 |
| 2018 | $812,375 | -1.5% | $979,829 | 18.1% | 526 | 22 |
| 2017 | $825,000 | -2.9% | $829,477 | -5.0% | 293 | 33 |
| 2016 | $850,000 | 32.3% | $873,147 | 7.0% | 294 | 49 |
| 2015 | $642,500 | -6.9% | $815,858 | -22.7% | 498 | 30 |
Want to Know More?
If you are in the market for buying or selling West Maui real estate or have any questions about the area or the market in general, please feel free to contact me. I welcome the opportunity to give you information on my previous sales performance and marketing strategies. Or if you’re curious about what your property is worth in today’s market, it would be my pleasure to provide you with property information and a value assessment free of any sales pitch.
Related Articles
Maui Real Estate Post Co-Vid | New Contract Volume
Million Dollar Maui | High End Real Estate Gaining Traction
West Maui Real Estate Hitting Wall | Lux Market Still Churning
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