The West Maui real estate market has seen notable shifts over the past several years, with 2025 continuing the trend of declining sales volume. Based on historical data, this year’s sales figures reflect ongoing market corrections influenced by economic conditions, interest rates, and the lasting impact of the 2023 Maui wildfires.
West Maui Sales Volume: A Look at 2025
So far in 2025, only 54 total units have sold, representing a 13% decrease from 2024. This follows a broader trend of declining sales since 2021. Here’s a breakdown by property type:
- Homes: 12 units sold, a 5% decline from 2024.
- Condos: 35 units sold, down 16% from last year.
- Land: 7 units sold, marking a 9% drop compared to 2024.
Long-Term Trends: 2021 to 2025 Decline
Looking at the past few years, the market has seen a stark contrast from the boom of 2021:
- 2021 Peak: Sales surged to 1,335 units, a 94% increase over 2020. This was fueled by pandemic-driven demand, historically low interest rates, and increased remote work flexibility.
- 2022 Decline: Sales volume dropped 41% as economic conditions shifted, with rising mortgage rates and limited inventory.
- 2023 Sharp Drop: Only 409 units sold, a further 48% decline, exacerbated by uncertainty following the Maui wildfires.
- 2024 Continued Weakness: 372 units sold, down 9% from 2023, with the condo market hit particularly hard.
- 2025 Slow Start: The first part of the year suggests an even weaker market, with fewer transactions than previous years.
What’s Driving the Decline?
Several factors have contributed to the continued slowdown in West Maui’s real estate market:
- Economic Uncertainty & Interest Rates: Rising borrowing costs have made home and condo purchases more expensive, slowing buyer demand.
- Maui Wildfire Recovery: The devastating 2023 fires continue to impact the market, with buyers and investors remaining cautious about long-term rebuilding efforts.
- Inventory & Pricing Pressures: Sellers are holding onto properties, unwilling to lower prices significantly, which has contributed to fewer transactions.
Outlook for the Rest of 2025
While the year has started slow, West Maui’s real estate market still holds long-term potential. Factors that could help stabilize or improve sales volume include:
- Potential Interest Rate Reductions: If the Federal Reserve eases rates later in 2025, affordability could improve.
- New Development & Rebuilding Efforts: As Lahaina and surrounding areas continue to recover, increased inventory and infrastructure improvements could bring buyers back.
- Tourism Growth: A rebound in tourism could spur second-home and vacation rental purchases, particularly in the condo market.
Final Thoughts
West Maui’s real estate market remains in a transitional phase, with current trends reflecting both local and national economic factors combined with the unique challenges facing this side of the island. While sales volume remains lower than previous years, the region’s long-term appeal, stunning landscapes, and resilient community continue to make it a desirable destination for homebuyers and investors.
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 assessments.
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