Aloha All, 

Well into March with Spring just beginning, we find our real estate market extremely busy. More properties entering the market are selling. Due to Maui’s Mayor Bissen’s issues of zoning and vacation rental ability, we find condos leading in volume of sales. Statistics for March to follow in paragraph three of this email. 

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 best manner. People wonder about what options are available in order to secure and support their investments and potentially minimize capital gain taxes and increase values. It is important to understand there are some new IRS rules coming up regarding 1031 exchanges. The rules involve trading any income property into other tax-deferred properties including “Absolute Tripple Net” real estate investments and a DST (Delaware Statutory Trust) where after a few years you may be able to use some of that investment as tax free cash. Check with your tax professional for details. Contact us for questions or referrals if you need exchange and tax specialists as well as knowledgeable real estate agents in other areas. 

Reviewing February 2025, U.S. existing-home sales fell 4.9% from the previous month to an annual rate of 4.08 million units, marking the first decline since September, though sales remained 2% higher than a year ago, according to the National Association of REALTORS® (NAR). On Maui, Single-family home listings rose 4.3%, while condo listings dropped 7.8%. Pending sales fell 11.3% for single-family homes and 38.7% for condos, while inventory surged 58% and 97.9%, respectively. Median prices climbed 9.7% to $1,395,319 for single-family homes and 27.7% to $945,000 for condos. Days on the market fell 3.1% for single-family homes but jumped 85.9% for condos, with months of supply rising 71.4% and 167.3% for single-family homes and condos, respectively. Nationally, the median home price rose 4.8% to $396,900, with total inventory at 1.18 million units — up 3.5% from the previous month and 16.8% year-over-year, providing a 3.5-month supply. 

From UHERO (The Economic Research Organization at the University of Hawaii) 

“Hawaii tourism, which had flattened last year, will show modest improvement in 2025, as visitor arrivals will expand nearly 3%. U.S. mainland travel will strengthen, aided by federal tax cuts, but international markets may suffer from trade tensions and a stronger dollar. Tourism revenue will be constrained by stagnant per-person spending. 

Maui’s recovery continues to face challenges. Visitor numbers remain subdued, with occupancy rates at historic lows and labor force participation constrained by post-fire disruptions and outmigration. Maui has regained more than half of the jobs lost to the wildfires, but employment remains below pre-fire levels. 

There’s a lot going on that you may want additional information about. 

Please contact us if you would like to know about the Wailea Community Association’s Annual Meeting, Mayor Bissen’s County Annual Presentation, Mayor Bissen’s recent South Maui presentation, 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. 

We are presently marketing beautiful ocean view properties, beach front units plus gorgeous homes from many locations throughout Maui and Oahu. We are available to assist you as you move forward in any direction or just simply have concerns you wish to discuss with us. We offer multigenerational experience and opinions. 

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 

Bob Hansen PB R(B) 808-283-9456, RB-17532

Clint Hansen BIC R(B) 808-280-2764, RB-21616

Donna D. Hansen R(S) 808-280-1650, RS-49765

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