Weekly Luxury Market Snapshot
|
Category |
This Week |
Price Range |
Market Signal |
|
Sold |
0 |
— |
No closings this week |
|
Pending |
2 |
$5,900,000 – $6,290,000 |
Both under contract quickly |
|
New Listings |
2 |
$5,999,999 – $7,250,000 |
Distinctive offerings in Kihei & Upcountry |
|
Price Reductions |
1 |
$4,599,995 |
Kulamalu Hilltop repositions |
|
Cancelled / Expired |
4 |
$4,299,000 – $6,398,000 |
Mixed exits — two with return plans |
Maui Luxury Market Snapshot — Week of May 9
There was quite a bit of activity in the Maui luxury home market this week, but the condo segment was only hearing crickets. No closings, two pendings — one of which went under contract the same day it listed, at least according to the MLS — and four cancellations across homes and condos. The single price reduction and two new listings round out a week that reflects a market in transition as we move deeper into the shoulder season.
The Paia Bay cancellation carries an unusual wrinkle worth noting: the property is subject to bankruptcy court approval, a reminder that not all cancellations are straightforward seller decisions.
Pending Sales — Maui Luxury Homes Under Contract
Single-Family Homes
|
Ka'anapali Coffee Farms | Ka'anapali | 2600 Aina Mahiai St 5 bd | 4.5 ba | 3,555 sf | 5.18 ac | mountain/ocean view List Price: $5,900,000 | Original: $6,800,000 | DOM: 207 | Contract: 5/7/2026 |
|
This is the third time out for this Maui luxury property, originally listed by the same broker in September 2023 at $7,495,000. Five price reductions over nearly two and a half years brought it to $5,900,000. The 5.18-acre lot sits within Ka'anapali Coffee Farms, a gated organic coffee plantation community above Ka'anapali with ocean views, trade winds, and a tropical orchard. Heated pool, five bedrooms, 3,555 sf. The journey from $7.495M to $5.9M is an important pricing lesson for Maui sellers in this range. |
|
Mahanalua Nui IV | Launiupoko | 205 Pua Niu Way 5 bd | 4.5 ba | 3,697 sf | 2.77 ac | ocean view List Price: $6,290,000 | DOM: 5 | Contract: 5/4/2026 |
|
Listed May 4 and under contract the same day — at least that's what the MLS shows. But that's why we do this report. This Launiupoko luxury home was originally listed for $4.15M in 2017 and taken off market without selling. It came back November 2023 at $7.45M, cancelled after 72 days. December 2024, same broker, $6.8M — ran 181 days, cancelled, relisted. Two more reductions brought it to $6.29M. There was likely a deal in the works before the relisting. Key features: 2017-built, gated, 2.77 acres at the foot of the West Maui Mountains, views of three islands, curved lap pool and spa, Wolf kitchen, media room, 1,430 sf of covered outdoor living. Agricultural zoned, sold furnished. The journey from $7.45M to $6.29M over nearly three years tells the real story of where this Maui luxury market has moved. |
Maui Luxury Price Reductions
Single-Family Homes
|
Kulamalu Hilltop | Kulamalu | 35 Ohia Lehua Pl 4 bd | 4 ba | 3,192 sf | 0.42 ac | bi-coastal ocean/mountain view Current Price: $4,599,995 | Original: $4,995,000 | DOM: 47 |
|
Three price adjustments in under 50 days — $4,995,000 to $4,795,000 to $4,599,995. That signals sellers responding quickly to market feedback rather than digging in. The property was purchased for $2,550,000 in 2022; the new price may reflect value added by a 2025 renovation. The property itself is legitimately impressive: 2025 renovation of a 2008 Upcountry estate in an exclusive 13-home gated enclave, bi-coastal views, hybrid Koa floors, Roman Gold Travertine, split-faced marble fireplace wall, glass sculpture chandeliers, and an infinity-edge lap water feature. Three-car garage. Worth a serious look for buyers in this range — motivated Maui sellers and a well-finished product. |
Cancelled & Expired — Maui Luxury Listings
Single-Family Homes
|
Paia Town | 23 Nalu Pl 3 bd | 2 ba | 1,041 sf | 0.20 ac | beachfront | ocean view List Price: $4,900,000 | DOM: 131 | Cancelled |
|
The cancellation here isn't a simple seller decision — this Maui beachfront property is subject to bankruptcy court approval, meaning pricing and terms require court sign-off. That complexity alone discourages most buyers at this level. The asset is real: direct beachfront at the end of Paia Bay, recently appraised at $5.2M, century-old banyan tree, R-1 zoning with potential to add a guest cottage. Part of a 10-property commercial portfolio. If and when the bankruptcy resolves, expect renewed interest at a motivated price. |
Condominiums
|
Ho'olei | Wailea | 24 Hoolei Cir, Unit T2 3 bd | 3.5 ba | 2,426 sf | garden view | hotel zoned | STR eligible List Price: $4,299,000 | Original: $4,795,000 | DOM: 412 | Cancelled |
|
412 days and a $496,000 reduction couldn't close the gap on this Wailea luxury condo. Hotel zoned with a heavily booked STR calendar, Sub-Zero and Wolf kitchen, private elevator, and attached garage. The rental income story is real — but Ho'olei has corrected meaningfully since peak, and buyers are running the numbers carefully. This is a pricing story, not an asset story. The unit will sell when the ask meets the math. |
|
Kapalua Ironwoods | Kapalua | 22 Ironwood Ln, Unit 22 2 bd | 3 ba | 1,935 sf | beachfront | ocean view | not STR eligible List Price: $6,398,000 | DOM: 165 | Temporary pause — relisting June 8 |
|
A deliberate 30-day pause — this appears to be an MLS withdrawal to restart the DOM counter back to zero when it relists June 8. After 165 days at unchanged list price, a pricing conversation is likely happening behind the scenes. The unit is a meticulously maintained second home, floor-to-ceiling renovation in 2011, beachfront position on the Kapalua coastline with ocean, golf course, and island views. Not STR eligible, which narrows the buyer pool to owner-users. Watch for the June 8 re-entry and whether it comes back with a reset price. |
New Maui Luxury Listings — Week of May 9
Single-Family Homes
|
Keokea | Kula | 8515 Kula Hwy — 'Pheasant Ridge' 2 bd | 2.5 ba | 2,743 sf | 22.24 ac | mountain/ocean view | + 2/1 cottage List Price: $5,999,999 |
|
22 rolling acres of former cattle ranch land in Keokea, discreetly positioned off Kula Highway in Upcountry Maui. The setting is genuinely distinctive: mature eucalyptus and jacaranda, open pasture, a 1933 guest cottage, and a 2001 main home thoughtfully reimagined in 2019. Exposed beams, oak floors, Andersen windows on all sides, fireplace. This is for a buyer seeking privacy, land, and Upcountry character rather than resort amenities. Rare and genuinely hard to replicate. |
|
Kihei | 1250 Uluniu Rd 3 bd | 3.5 ba | 3,751 sf | 0.23 ac | beachfront | + 1/1 studio ohana List Price: $7,250,000 |
|
One of fewer than 100 direct beachfront homesites in all of South Maui, and one of the most thoroughly renovated. Ground-up reimagining over the last three years: limestone floors, Brazilian teak staircase, Cascadia fiberglass windows, backlit quartzite kitchen with Sub-Zero and Wolf, solid cherry front door. Three ensuite bedrooms, dedicated office, two living rooms, studio ohana above the two-car garage. Solar brings electric to around $200/month. The listing agent notes no flooding in the recent Kona Low storm — a relevant detail for any South Maui beachfront buyer doing their homework. |
Our Take — Maui Luxury Market Perspective
May is typically a slow month on Maui in terms of both visitors and real estate. The beginning of this month seems uncommonly so. Last week when I was out looking at property, I pulled into a covered parking lot on the first floor and it was virtually empty. When I walked out to the normally bustling pool area, I had to stop and count the people. The fact that I could count them tells the story — five people in a large resort pool.
The homes and condos we review in this report are sometimes primary residences, but they are primarily second homes and vacation rental investment properties. Off-island buyers who visit Maui and contribute significantly to the health of our economy account for about 85% of the ownership of these properties. Geopolitical uncertainty, inflation, and volatile equity markets all play a role in keeping some of those buyers on the sidelines right now.
That said, Maui is still Maui. Two new pendings in the first week of May is encouraging, and as we move into the summer buying season, sellers are clearly getting more serious about pricing to meet the Maui luxury market. We'll be keeping an eye on the new listings — some of them may turn out to be old listings with fresh prices and zero days on market.
From the greatest island on earth — this is Lahaina Lee saying aloha.
Frequently Asked Questions — Maui Luxury Real Estate
Common questions from buyers and investors about the Maui luxury market.
How is the Maui luxury real estate market performing in 2026?
The Maui luxury market in early 2026 is showing selective activity. Well-priced properties at all tiers continue to find buyers — sometimes quickly — but overpriced listings are sitting for extended periods. The week of May 9, 2026 saw two new pendings (both going under contract quickly), four cancellations/expirations, and two fresh listings entering the market.
What is the price threshold for Maui luxury real estate?
The Maui Weekly Luxury Report tracks single-family homes priced at $4 million and above, and condominiums priced at $3 million and above. This covers the top tier of Maui's real estate market across all neighborhoods — from Kapalua and Ka'anapali on the West Side to Wailea, Makena, Kihei, and Upcountry.
Which Maui neighborhoods have the most luxury real estate?
The primary luxury home markets on Maui are Kapalua, Ka'anapali Golf Estates, Wailea/Makena, Launiupoko, and Upcountry Kula. For luxury condos, the top markets are Wailea (Wailea Point, Ho'olei), Ka'anapali (Honua Kai, Ka'anapali Alii), and Kapalua (Kapalua Bay Villas, Kapalua Ironwoods).
Are Maui luxury homes selling or sitting on the market?
As of May 2026, the pattern is clear: correctly priced luxury properties in compelling locations sell. Overpriced properties accumulate days on market and eventually see significant reductions or cancellations. The luxury segment has compressed from peak pricing, and sellers who accept current market values transact; those who don't are sitting.
Are Maui luxury condos good investments in 2026?
Maui luxury condos — particularly hotel-zoned properties eligible for short-term rentals — remain attractive for investors who have run the current numbers. Bill 9 regulatory uncertainty affects apartment-zoned STR properties. Hotel-zoned properties like those at Honua Kai and Kapalua Bay Villas are not subject to the same risk. Buyers should verify zoning and rental eligibility before proceeding.
What is happening with Maui beachfront real estate?
Maui beachfront homes at the luxury level have seen some high-profile cancellations and expirations in recent months — reflecting the challenging combination of premium pricing and a selective buyer pool. That said, correctly priced beachfront properties do transact. South Maui and West Maui beachfront remain among the most coveted real estate in Hawaii.
About the Maui Weekly Luxury Report
The Maui Weekly Luxury Report is published every week by Lahaina Lee, a licensed real estate broker on Maui. It tracks all activity in the Maui luxury real estate market — single-family homes priced at $4 million and above, and condominiums at $3 million and above — including new listings, pending sales, closed sales, price reductions, and cancellations/expirations.
The report is part of the Maui Real Estate Advisor, Lahaina Lee's broader market coverage platform covering all segments of Maui real estate, short-term rental regulations, Lahaina rebuild updates, tourism trends, and Maui's economic picture.
Contact: Lee@AlohaPotts.com | AlohaGroupMaui.com
