Are Home Prices Dropping on Maui? A Data-Driven Market Analysis

Are home prices dropping on Maui in 2025?

Yes—but not across the board. According to REALTORS® Association of Maui statistics, condominium prices have declined significantly, while single-family home prices have softened slightly and stabilized rather than collapsed.




This article breaks down exactly where prices are falling, where they are holding, and why the Maui housing market is correcting instead of crashing.

Quick Answer: Are Maui Home Prices Dropping?

• Yes for condominiums: price declines ranging from 15% to over 25% year-over-year
  
  
• Slightly for single-family homes: low single-digit declines or flat pricing
  
  
• No evidence of a market crash
  
  
• Inventory and months of supply are rising, shifting leverage toward buyers
  
  

Maui Housing Market Overview (2023–2025)

Maui’s real estate market has transitioned from rapid appreciation to price normalization, driven by higher interest rates, increased inventory, and slower buyer activity.




The most important takeaway: the market is segmented. Single-family homes and condos are behaving very differently.

Single-Family Home Prices on Maui

Price Trends

Recent data shows that single-family home prices are softening modestly, not collapsing.




Key statistics:

• December 2025 median price: $1,340,000
  
  
• Year-over-year change: –2.0%
  
  
• Year-to-date change: –0.4%
  
  

Despite price adjustments, values remain well above pre-2020 levels.

Inventory & Supply

• Inventory: up 14.5% year-over-year
  
  
• Months of supply: increased from 6.5 months to 8.0 months
  
  

An 8-month supply typically signals a balanced-to-buyer-leaning market, explaining why pricing pressure has increased without triggering widespread declines.

What This Means

Single-family homes on Maui are experiencing:

• Longer selling timelines
  
  
• Fewer bidding wars
  
  
• Increased price sensitivity
  
  

However, demand remains present for well-located, correctly priced homes.

Condominium Prices on Maui: Where Prices Are Clearly Dropping

The condo market shows clear and sustained price declines, supported by multiple months of data.

Condo Price Declines

• January 2025: –15.6% year-over-year
  
  
• April 2025: –24.5% year-over-year
  
  
• December 2025: –25.6% year-over-year
  
  

These declines represent one of the most significant pricing corrections in Maui’s housing market.

Condo Inventory Explosion

• Inventory increased by over 100% year-over-year in early 2025
  
  
• Months of supply exceeded 13 months in several reporting periods
  
  

This level of supply strongly favors buyers and puts downward pressure on prices.

Days on Market Confirms the Shift

Time-to-sell metrics reinforce what prices are already showing.

• Single-family homes: days on market up 9–14%
  
  
• Condos: days on market up 38% to more than 80%, depending on the month
  
  

Longer days on market typically lead to:

• Price reductions
  
  
• Increased seller concessions
  
  
• Greater negotiation leverage for buyers
  
  

Why Maui Home Prices Are Adjusting Now

Several forces are working together:

1. Higher interest rates reduced purchasing power
   
   
2. Rising inventory ended extreme supply shortages
   
   
3. Buyers became more selective
   
   
4. Peak pricing in 2023–2024 set unrealistic seller expectations
   
   

This combination created a correction, not a collapse.

Is the Maui Housing Market Crashing?

No.




There is no data-driven evidence of a housing crash on Maui.




Instead, the market is:

• Repricing based on supply and demand
  
  
• Segmenting by property type
  
  
• Returning to more historically normal behavior
  
  

Single-family homes remain relatively resilient. Condos are absorbing the bulk of the correction.

What This Means for Buyers and Sellers on Maui

Buyers

• More inventory to choose from
  
  
• Increased negotiating power
  
  
• Stronger opportunities in the condo market
  
  

Sellers

• Pricing strategy matters more than ever
  
  
• Overpricing leads to extended market time
  
  
• Homes aligned with current data are still selling
  
  

Final Verdict: Are Home Prices Dropping on Maui?

Yes—selectively.

• Condo prices are clearly declining
  
  
• Single-family home prices are stabilizing with mild downward pressure
  
  
• The market is correcting after historic highs, not collapsing
  
  

Understanding your specific segment, price range, and location matters far more than island-wide averages.