Author Archives: The Hansen Ohana

Summer Newsletter

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Aloha All,

Summer is just a few weeks away.

We feel it is important to note that many of the population from Maui and various other locations are examining their property portfolios requesting our advice as they consider how to move forward with their investments and personal residences in the most appropriate manner.  There are some new IRS rules regarding 1031 exchanges.  The rules involve trading any income property into other tax-deferred properties  including a DST (Delaware Statutory Trust).  Although we are extremely knowledgeable in the diverse ways to deal with the options available, we are not tax and exchange specialists.  For your convenience we have obtained expert resources should you need referrals. Contact us for those referrals.  Those referrals include licensed real estate agents located throughout our nation for selling or investing.  Please either email us at dad@mauirealestate.net or call at one of the numbers below.  

Statistics

 In the United States In May 2025, existing-home sales dipped 0.5% from the prior month and 2.0% year-over-year according to the National Association of REALTORS

 For Maui, New listings declined 9.9% for Single Family homes and 33.9% for Condominiums, while pending sales dropped 16.7% for Single Family homes but rose 14.8% for Condos. Inventory increased 38.5% for Single Family homes and 37.8% for Condos. Median prices grew 0.4% to $1,300,000 for Single Family homes but fell 10.3% to $762,500 for Condos. Days on market lengthened by 40.8% and 38.0%, respectively, while months’ supply rose 58.0% for Single Family and 73.0% for Condos. Active inventory reached 1.45 million units, up 9.0% from April and 20.8% from last year, equating to a 4.4-month supply.  As is normal, correctly pricing a home for sale is important.  Lately many properties on Maui have had big reductions in price.  If you would like to know the value of your property in Hawaii, contact us at dad@mauirealestate.net.

Urgent call to action. 

There’s a lot going on that you may want to be aware of.  The time has come for property owners on Maui to voice their opinion regarding Mayor Bissen’s  plan to cancel property owners rights that they have had for over 30 years to legally vacation rent their property.  The committee handling this part of discussion is HLU.committee@mauicounty.us   The harm Bill 9 will cause Maui’s local residents will be very damaging to Maui’s entire Island should it pass. For instance, loss of jobs in the services of cleaning, repairs, gardening, rental, companies, restaurants and their employees, retail shops, farmers markets closing and possibly even Costco. So much is at stake. Your help, your words will make a difference.  

Please contact us if you would like to know about the Wailea plans for the future, Mayor Bissen’s Vacation Rental Plans for future rental use, etc.  Please either email us at dad@mauirealestate.net or call at one of the numbers below.  

Being a multigenerational team we have experiences and the ability to attend many meetings and have our finger on the pulse on what is happening in Hawaii.  Some of the items are the extension of the Piilani Highway, Wailea Golf Courses and Tennis Venue potential development as well as affordable housing projects.  

Also keep informed with our blog where local information and statistics are posted:

https://blog.mauirealestate.net/

Enjoy our informative radio program: https://www.youtube.com/channel/UChcOyThjgwJgO5fV72YQVtg

 If you would like a copy of our newsletter to share let us know at dad@mauirealestate.net

               For access to our website click below.

Bob Hansen PB R(B)               Clint Hansen BIC R(B)                  Donna D. Hansen R(S)                                                                                                       808-283-9456                                             808-280-2764                                808-280-1650                                                                             RB-17532                                                  RB-21616                                        RS-49765

 MAUI LUXURY REAL ESTATE LLC, The Hansen Ohana ~ Maui’s Real Estate Family over 30 years

May Monthly Statistics

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May monthly statistics update. Information courtesy of The Realtors Association of Maui.

Maui Real Estate Market Snapshot for May 2025: Inventory Increases While Sales Decline

Maui’s real estate market is undergoing a transformation as the summer approaches, with slower sales and more inventory influencing the situation for both buyers and sellers.

Changes in Market Behavior
Overall closed sales in May 2025 decreased by 26.7% for single-family homes and 16.9% for condos, according to the REALTORS® Association of Maui. Days on market, on the other hand, increased dramatically—40.8% for single-family homes and 38.0% for condos—signaling that more properties are remaining on the market for longer, allowing purchasers more time to consider their options.

Trends in Prices
Single-family home prices held steady despite a slowdown in activity. The median price remained consistent from earlier in the year, rising little to $1.3 million. The median price of condos on the market, however, dropped significantly, dropping 10.3% to $762,500. Generally speaking, sellers are getting 95.9% of the list price for single-family homes and 95.2% for condos, which is a little less than what they were asking for.

Growth in Inventory Creates New Possibilities
The increase in inventory is arguably the most noticeable trend. In order to provide potential purchasers additional options, the number of single-family and condo residences for sale increased by 38.5% and 37.8%, respectively. The months’ supply of inventory increased by 73% for condos and 58% for single-family homes, one of the biggest increases Maui has seen in years.

Implications for Both Buyers and Sellers
This is a time of more leverage for buyers. Buyers may be able to haggle over terms or price because there are more listings on the market, there is less competition, and properties take longer to sell. Proper pricing and preparation for a longer period on market are crucial for sellers.

Highlights of the Area

With 19 apartment sales averaging $780,000, Kihei is still a popular destination.

With 14 upscale condo sales averaging more than $3 million, Wailea/Makena stood out.

With 12 properties sold at a median price of $1.39 million, Wailuku had the most single-family activity.

Real estate is hyper-local as usual. Working with an experienced Maui real estate agent is the best approach to handle the present market conditions, whether you’re considering investing, selling, or purchasing.

Keeping Maui Teachers

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In an effort to keep teachers impacted by the 2023 wildfires and high cost of living, the Hawaiʻi State Department of Education has begun construction on a $20 million workforce housing project in West Maui. The 47-unit rental project, which is situated between Lahainaluna High School and Princess Nāhiʻenaʻena Elementary, is intended to give displaced or underprivileged Department of Education employees access to inexpensive housing. According to officials, the development is crucial for restoring educational stability and guaranteeing pupils’ regular attendance in class. Employees affected by the fires will be given precedence, and rental prices will be determined by income.

Made In Maui Applications

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All Local Creators and Makers Are Invited!

The much awaited 12th Annual 2025 Hawaiian Airlines Made in Maui County Festival, the pinnacle of island creativity, craftsmanship, and community, the Maui Chamber of Commerce is currently taking vendor applications.

This two-day event, which is scheduled for November 7–8 at the Maui Arts & Cultural Center, is your opportunity to interact with wholesale buyers and merchants, exhibit your locally produced goods to thousands of people, and significantly expand your clientele.

Don’t pass this up! The deadline for applications is June 2 at 4:30 p.m.

Be a part of the biggest product exhibition in Maui County by applying now!
For more information, go to MadeInMauiCountyFestival.com.

Community Action Plan

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As it starts work on a new three-year Community Action Plan, Maui Economic Opportunity (MEO) is looking for community feedback to help identify the most urgent needs in Maui County.

In order to begin the process of creating the 2027–2030 plan, MEO has made a survey available here. The participation deadline is June 25.

You can reach MEO at (808) 249-2990 for additional information.