Category Archives: Economy

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

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.

Property Tax Assessment

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IF YOU BELIEVE YOUR MAUI PROPERTY TAX ASSESSMENT IS 20% OVER IT’S TRUE VALUE, YOU CAN APPEAL!!!! 

IMPORTANT Appeal Deadline April 9th!

Filing fee:  $75.00.  

Apply online:

www.MauiPropertyTax.com  

*** If you need comparable sales data email us a request at

dad@MauiRealEstate.NET

Update on the Hawaii Real Estate Market Statistics for January 2025

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With significant activity on all islands, the Hawaii real estate market got off to a great start in January 2025. Sales in the residential, condominium, and unoccupied land sectors were consistent on Maui. With 58 sales and a median price of $1,187,500, Maui’s residential market generated $83,444,128 in total dollar volume. With 53 transactions and a median price of $675,000, the condominium market generated $56,140,170 in total dollar volume. Thirteen deals with a median price of $585,000 and a total dollar volume of $19,862,750 were made in the vacant land market.

With 338 total sales, the Big Island saw a notable increase in real estate activity. On the Big Island, median condo prices were $689,500 while median home prices were $595,500. The entire monetary volume was $253,513,541, with the median land price being $45,000.

High-value transactions were evident in Kauai’s real estate market, especially in land and residential sales. A total of 70 sales were registered on the island. In Kauai, the median price of a home was $1,325,000, and the median price of a condo was $800,000. The entire dollar volume was $101,510,800, and the median land price was likewise $1,325,000.

With robust home and condo sales, Oahu continues to be Hawaii’s most active real estate market. There were 196 home sales in Oahu’s residential market, with a median price of $1,120,000. The median price of the 312 transactions in the condominium market was $539,500.

In 2025, the Hawaii real estate market is still strong, with strong demand on all of the main islands. Opportunities are available in the condo and unoccupied land markets, even if median property prices still reflect the upscale aspect of island living. To make wise real estate selections in Hawaii, investors, buyers, and sellers need keep up with market developments. January 2025 has laid the groundwork for a busy year in Hawaii real estate, whether you’re searching for your ideal home on Maui, an investment condo on Oahu, or undeveloped acreage on the Big Island. More information about changing market trends will be available in the upcoming update.

September Market Statistics

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All Hawaiian islands have seen significant real estate market movements. From Maui’s luxury residences to Kauai’s stunning scenery, the market is showing a complex mix of growth, losses, and big price revisions. This year’s performance by region:

Maui Market Statistics:

Single-Family Homes:
Total Sales: 580 properties, up 0.5% from previous year.
Median Sale Price: $1,300,000, up 8.7%.
Sales rose 1.4% to $1,042,117,942.
Condominiums:
Total sales fell 10.1% to 679 units.
Median Sale Price: $900,000, up 9.1%.
Sales volume rose 16.1% to $1,018,536,964.
Vacant Land:
Total sales: 144 items, 14.3% higher.
An astounding 33.4% increase in median sale price: $902,501.
Total Sales: $283,084,001, up 72.3%.

Oahu Market Data:

Single-family homes:
Sales rose 1.9% to 2,210 properties.
Median Sale Price: $1,100,000, up 6.8%.
Sales rose 5.5% to $2,991,846,111.
Condominiums:
Sales fell 5.7% to 3,466 units.
The median sale price rose 1% to $510,000.
Total Sales: $2,100,169,518, down 7%.
Vacant Land:
Total sales: 53 parcels, down 23.2%.
The median sale price rose 4.7% to $890,000.
Total sales fell 35.3% to $76,100,999.

Big Island Market Statistics:

Single-Family Homes:
The number of residences sold rose 1.3% to 1,509.
Median Sale Price: $549,150, up 9.8%.
Sales rose 28.3% to $1,576,940,292.
Condominiums:
Total sales fell 10.9% to 442 units.
Median Sale Price: $680,000, up 14.5%.
Sales volume rose 10.4% to $523,486,621.
Vacant Land:
Total sales: 1,373 lots, down 9.9%.
Median Sale Price: $46,000, up 12.2%.
Sales volume fell 4.3% to $244,118,554.

Kauai Market Statistics:

Single-Family Homes:
There were 284 home sales, a 37.9% increase.
Median Sale Price: $1,400,000, up 21.7%.
Sales volume rose 78.3% to $605,555,821.
Condominiums:
Total sales fell 7.2% to 219 units.
The median sale price rose 8.4% to $769,000
Total sales fell 2.4% to $209,756,653.
Vacant Land:
Total sales: 83 parcels, up 1.2%.
Median Sale Price: $774,500, down 12.7%.
Sales volume rose 5.2% to $101,759,305.

Single-family home and land sales have increased on Maui and the Big Island, but Oahu and Kauai have had mixed results. Condo sales have slowed on the islands, but prices are rising due to island living demand. Maui’s unoccupied land sales volume rose 72.3%, driving up prices.

Thank you to Title Guaranty Hawaii for providing the information. Stay tuned for market insights and updates!