The Maui real estate market showed mixed signals in February 2026. Condo sales rebounded with rising pending activity, suggesting improving momentum. However, the single-family home market remains uneven, with increased buyer activity but declining median prices—indicating limited luxury market strength. Inventory remains elevated across both segments, keeping Maui firmly in a buyer’s market.

 

🔑 Key Takeaways – Maui Real Estate Market

  • Condo sales rebounded to 64 closings after a slow January 
  • Pending condo sales hit a 12-month high, signaling forward momentum 
  • Condo inventory remains high at 900+ listings (~14 months supply) 
  • Median condo price jumped to $847,500 
  • Home sales declined, but pending sales increased for the 3rd straight month 
  • Median home price dropped to $1.25M, suggesting limited luxury influence 
  • Maui remains a buyer’s market across both condos and homes 

Introduction – March Market Update

Aloha, this is Lahaina Lee with your March edition of the Maui Real Estate Advisor market report.

In this March edition, we’re looking back at what happened in February. And yes, I know what some of you are thinking: “Lee, February already feels like old news. What took you so long?”

 

Fair question.

 

First, we had a couple of timely blogs and podcasts to get out on Maui property tax assessments. If you opened your assessment notice and thought the assessor might have been sampling the Maui Wowie, you may want to check those out.

 

👉 If you’re wondering how your property was valued—or whether you should appeal—you can check out our full breakdown here:

  • How Maui Property Taxes Are Calculated 
  • How to Appeal Your Maui Property Tax Assessment 

Second, Maui got hit with two Kona Low weather events that, from a wind standpoint, felt hurricane-like. But the monsoon-like rain, mudslides, and flooding were even more disruptive. After more than two decades on the island, those were some of the most serious storms I’ve been through.

 

So yes, that slowed us down a bit. But with a new month right around the corner, let’s get right into the numbers.

 

Maui Condo Market Trends – February 2026

 

📊 12-Month Condo Market Trends

 

The condo market staged a much-needed rebound in February, posting 64 closed sales after a very weak 44 sales in January. That made February the second-strongest condo sales month of the past year, which is a welcome change from the sluggish pace we had been seeing.

 

Inventory did come down slightly, but only slightly. We’ve now been sitting at more than 900 condos for sale for three straight months, and that still leaves Maui in a very strong buyer’s market, with roughly 14 months of condo inventory.

What makes February more encouraging is that it wasn’t just closed sales that improved. Pending sales rose to 118, the highest level of the past 12 months. That is important, because pendings tend to give us a preview of what closed sales may look like in the next month or two.

 

Pricing also moved in a better direction. The median condo sale price jumped to $847,500, up more than $200,000 from January and the highest median we’ve seen since last February.

 

One especially interesting stat: the median sold price actually came in slightly above the median active asking price. That suggests that well-positioned properties are still finding buyers when price and product line up.

 

That said, let’s not overstate the comeback. Inventory remains high, days on market is rising, and buyers still have a lot of choices.

 

👉 If you’re considering a condo purchase—especially for vacation rental use—you may want to review:

  • 4 Things You Need to Know Before Investing in a Maui Condo 

Maui Single-Family Home Market Analysis – February 2026

 

📊 12-Month Home Market Trends

 

The home market was a little more puzzling.

 

Closed home sales fell from 52 in January to 46 in February. Inventory remained relatively stable, leaving Maui in a buyer’s market with just under 10 months of supply.

 

However, pending home sales rose again to 134—the third straight monthly increase. That tells us buyer activity is there.

 

The question is: what kind of activity?

 

The median home sale price dropped to $1.25 million, and the average price fell as well. If luxury homes were driving the market, those numbers would likely be higher.

 

So the takeaway is this: activity is improving—but it’s likely happening more in the core market than in luxury.

Meanwhile, asking prices increased, creating a gap between seller expectations and buyer behavior.

 

That makes next month especially important to watch.

 

What This Means for Buyers and Sellers on Maui

There is still a lot of inventory on Maui right now. Buyers have choices, and that slows decision-making.

The condo market showed real signs of life. The home market is improving—but not evenly.

 

So the overall message is simple:

 

The market has better energy…but it is still a market where buyers have leverage.

 

And if you’ve been thinking about owning on Maui, this may be one of the better windows we’ve seen in quite some time.

 

🔗 Stay Updated on the Maui Market

You can follow our ongoing updates here:

❓ Frequently Asked Questions – Maui Real Estate Market

Is Maui real estate a buyer’s or seller’s market right now?

Maui is currently a buyer’s market, with elevated inventory levels across both condos and homes.

 

Are Maui condo prices going up or down?

Prices rebounded in February, but high inventory means the market still favors buyers overall.

 

Why are home prices soft despite rising activity?

Most of the activity appears to be in mid-range properties rather than luxury, which is pulling averages down.

 

Is now a good time to buy Maui real estate?

Buyers currently have more negotiating power and options than in recent years.

 

What does rising pending sales mean?

It suggests future closings may increase, assuming those deals go through.