Aina Nalu News
Presented by Aloha Group Maui
Issue 66, Q1 - 2022
Here we are in 2022! What a ride the past two years have been, and speaking of, if you've driven on the island in the past month or so, you know that things seem to be back to normal! The mask mandate on Maui ended March 25, and it looks like the airline mask mandate is set to expire on April 18. We suspect that will bring a few more visitors to the island.
Inventory is still the hot topic on Maui, or lack thereof as the case may be, and Aina Nalu is no exception. As soon as a unit hits the market, it is shortly under contract, usually with multiple offers that have been above asking price in many instances. Units are selling for record prices.
There are 3 units that are still pending, with one that closed at quarter's end.
As you can see, prices have increased considerably. The best comparison is probably between I201 in Q1 2022 and I203 in Q1 2021, a difference of $240,000 in just a year!
As for the real estate market overall on Maui, the inventory level is still at historically low levels, but at least it hasn't declined in the last few months. On the other hand, the market is still hot for properties in desirable areas, such as Aina Nalu.
From January 1 to March 31 there were 10 listings and 6 closed sales. There were 0 cancelled listings, and 0 expired listings at the end of the quarter. There were 0 active listings and 4 pending sales at the end of the quarter.
For more details on current Maui real estate prices and sales, go to the Maui Real Estate Advisor for all the stats.