Category Archives: Economy

Hawaii Real Estate Market Update: June 2025 

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As 2025 draws to a close, Hawaii’s real estate market is still developing, exhibiting both resiliency and regional differences among the islands. With some markets recovering and others adapting to post-pandemic and economic reality, the most recent statewide housing statistics for June 2025 provide insightful information about movements in single-family homes and condominiums.

A Mixed Bag of Sales Activity Overall
Hawaii’s June real estate sales increased 15.6% year over year, with 587 single-family house transactions, up from 508 in June 2024. Condominium sales increased little from 476 to 480 deals (+0.8%), but otherwise stayed largely same.

Single-Family Houses on the Island (June YoY):

18.1% increase on Hawaii Island (189 vs. 160)

Kauai: Huge increase of 87.0% (43 versus 23)

Maui: A 1.5% drop (66 vs. 67)

Oahu: Significant 12.0% growth (289 vs 258)

Condos on the Island Breakdown (June YoY):

30.3% increase on Hawaii Island (43 vs. 33)

Kauai: decline of 20.7% (23 vs 29)

5.1% drop in Maui (56 vs. 59)

Oahu: A marginal 0.8% rise (358 vs 355)

While Kauai’s condo market shrank, indicating a change in consumer preferences, the island’s single-family market performed exceptionally well, almost doubling sales volume.

đź’° Median Sales Prices: Some Islands’ Corrections
Even though there was an increase in sales activity in several places, median sales prices—especially in the Maui market—are beginning to change.

Median prices for single-family homes (June YoY):

Maui: $700,000 -28.6% of $980,000

Kauai: $715,000 -16.4% less than $855,000

$575,000 ↑ from $552,000 (+4.2%) on Hawaii Island

Oahu: $510,000 -3.8 percent of $530,000

Median Prices for Condos (June YoY):

Maui: $1.315M (-5.7%) less than $1.395M

Kauai: $1.175M + 7.6% from $1.092M

Hawaii Island: $608,500 (-3.1%) less than $627,775

$1.125M ↑ from $1.120M (+0.4%) on Oahu

The single-family home market on Maui saw the biggest correction, with median prices dropping by about 29%. This could indicate that the market is cooling or rebalancing following years of sharp appreciation. Condos on Oahu and Kauai, however, continue to fetch high premiums, suggesting that there is still a desire for such areas.

The 30% Federal Solar Tax Credit Is About to End

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On December 31, 2025, the 30% federal tax credit for home solar and battery storage systems, such as Tesla Solar and Powerwall, will end.

Now is the moment to take action if you’re thinking about switching to solar power. If you qualify, installing your system ahead of schedule might drastically lower your out-of-pocket expenses.

Get started by getting in touch with a Tesla Certified Installer right now to optimize your savings and reserve your space before the credit expires.

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