Presented by Aloha Group Maui

Issue 71, Quarter 2 ~ 2023

Aloha from your resident experts!

The island is a hive of activity, summer is here in full swing! Fewer visitors and less revenue were reported for May, but June felt like things picked up. And if the line at Ululani's on Front Street isn't an indication of a full island, then I guess look at the roads. We just have to look back a few years to remind ourselves to be thankful for the crowds. Rights?!?

And what a difference a few years make (particularly the last few years!). Looking back at quarter 2 of 2020, we reported lower prices and unsold listings at the end of the quarter. How the tides have turned! At the ed of Q2 this year, we are reporting continued record prices and listings that barely last a week before going under contract and with multiple offers.

Apart from one unit early in Q1, each unit that has sold in the last two quarters has sold at asking or above asking price and with few units coming to the market in Aina Nalu, there is no indication of these record prices slowing down anytime soon.

Overall, while condo sales and prices remain strong for the rest of Maui, they are not setting records for selling prices. This will be interesting to watch as we keep an eye on condo inventory since it seems likely sales may start to slow down in late summer or early fall. Seasonally, fall typically has fewer listings but there hasn't been much typical about this year; we need more listings!

From April 1 to June 30 there were 3 listings and 2 closed sales. There were 0 cancelled listings, and 0 expired listings and the end of the quarter. There were 0 active listings and 1 pending sale 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.