The Maui real estate market in May 2026 is telling two stories at once. Condo closings slipped to 51, one of the weakest months of the past year, yet pending condo sales surged to 121, the highest in at least twelve months, just as the median condo price touched $597,000. On the home side, sales rebounded from a sleepy April, the median price slid to its second-lowest level in a year, and days on market hit a new high. Here is what the data shows, what it means, and what we're watching.
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June 2026 Key Takeaways
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Aloha, this is Lahaina Lee with your June edition of the Maui Real Estate Advisor market report.
First, a little housekeeping. Starting this month, we're splitting the report in two. Today is all real estate: the numbers, the trends, and what they mean for buyers and sellers. Next week, we'll publish a companion piece covering the Lahaina rebuild, Bill 9, and tourism. Those topics deserve more than a paragraph squeezed between data tables, and frankly, so do the data tables. Same talk story, two sittings.
So, how's the market? Well, if you only looked at closed sales, you'd say the condo market took another nap in May. Just 51 closings. But look one layer deeper and you'll find the most interesting number of the month: 121 pending condo sales, the highest we've seen in at least a year. Buyers aren't gone. They're circling. And I think I know why.
Let's do the numbers. Condos first, as always.
Condos
|
|
Jun '25 |
Jul '25 |
Aug '25 |
Sep '25 |
Oct '25 |
Nov '25 |
Dec '25 |
Jan '26 |
Feb '26 |
Mar '26 |
Apr '26 |
May '26 |
|
Sales |
56 |
53 |
57 |
45 |
61 |
50 |
75 |
44 |
64 |
74 |
70 |
51 |
|
Inventory |
872 |
863 |
849 |
842 |
833 |
890 |
904 |
918 |
909 |
911 |
931 |
902 |
|
Pending Sales |
80 |
79 |
77 |
87 |
91 |
86 |
75 |
96 |
118 |
107 |
100 |
121 |
|
Median Sales Price |
$700K |
$675K |
$650K |
$650K |
$614K |
$595K |
$640K |
$630K |
$848K |
$675K |
$651K |
$597K |
|
Avg Sales Price |
$1.31M |
$911K |
$1.14M |
$947K |
$920K |
$735K |
$1.04M |
$926K |
$1.15M |
$1.19M |
$972K |
$890K |
|
Median Asking Price |
n/a |
n/a |
$849K |
$823K |
$799K |
$800K |
$825K |
$849K |
$839K |
$825K |
$799K |
$799K |
|
Avg Asking Price |
n/a |
n/a |
$1.28M |
$1.26M |
$1.23M |
$1.31M |
$1.35M |
$1.37M |
$1.33M |
$1.31M |
$1.27M |
$1.26M |
|
Days on Mkt (active) |
144 |
151 |
154 |
154 |
154 |
153 |
154 |
160 |
166 |
172 |
170 |
170 |
|
Days on Mkt (sold) |
124 |
145 |
167 |
125 |
180 |
155 |
162 |
166 |
138 |
148 |
168 |
153 |
|
Withdrawals |
58 |
62 |
68 |
72 |
71 |
48 |
41 |
54 |
43 |
47 |
53 |
60 |
* Data collected on the 1st of the following month. May figures were collected June 1, 2026.
* Asking price data unavailable prior to August 2025.
Coming into May, the condo story was a modest recovery: 44 closings in January, then 64, 74, and 70. May broke the streak at 51 closed sales, a 27% drop from April. After three encouraging months, that stings. But I'd caution against reading it as a reversal, and here's why.
Pending sales jumped to 121, the highest level of the past twelve months, beating February's 118. Pendings are our leading indicator, the preview of June and July closings. When closings drop but pendings spike, that's not a market rolling over. That's a market where buyers smelled a deal and started writing offers.
And the deals are real. The median condo selling price dropped to $597,000, down from $651,250 in April. Outside of last November's $595,000, that's the lowest median of the past year. Call it a retest of the bottom. The average selling price came in at $890,000, ending a stretch where the average held above $1 million for much of the spring. Maui condos are on sale, and the pending numbers tell you the shoppers have noticed. For sellers, that's the good news and the bad news.
Inventory eased to 902 active listings, down from April's peak of 931. That's the first meaningful dip since winter. Don't celebrate yet: at May's sales pace, that's still nearly 18 months of supply, and even at the past year's average pace it's about 15 and a half months. A balanced market is roughly six. This remains one of the strongest buyer's markets Maui has seen in a generation.
Two more telltales worth your attention. Average days on market for active condo listings is sitting at 170 days. And 43 condo listings expired in May, double April's count and the most in over a year. Some sellers are reading the room and stepping off the field rather than chasing the market down. The ones who stay are pricing closer to reality: the median asking price has now settled at $799,000 for a second straight month, down from $839,000 in February. The gap between asking and selling is still wide (about $200,000 at the medians) but it's narrowing from both directions.
One quick note on the elephant in the room: Bill 9 is now law, and it is absolutely part of why condo pricing looks the way it does. Every apartment-zoned condo now has a rental-rights clock attached to it, and the market is pricing that clock in. We'll cover the latest, including the H-3/H-4 rezoning question, in next week's companion blog.
Bottom line on condos: closings dipped, but pendings hit a 12-month high right as prices retested the bottom. It's still a buyer's market with a capital B, and the buyers know it.
Single-Family Homes
|
|
Jun '25 |
Jul '25 |
Aug '25 |
Sep '25 |
Oct '25 |
Nov '25 |
Dec '25 |
Jan '26 |
Feb '26 |
Mar '26 |
Apr '26 |
May '26 |
|
Sales |
66 |
60 |
60 |
56 |
63 |
49 |
66 |
52 |
46 |
76 |
49 |
58 |
|
Inventory |
438 |
439 |
441 |
438 |
436 |
450 |
446 |
456 |
448 |
436 |
437 |
444 |
|
Pending Sales |
105 |
112 |
108 |
109 |
101 |
104 |
96 |
120 |
134 |
110 |
119 |
108 |
|
Median Sales Price |
$1.32M |
$1.32M |
$1.28M |
$1.29M |
$1.23M |
$1.15M |
$1.34M |
$1.45M |
$1.25M |
$1.20M |
$1.29M |
$1.17M |
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Avg Sales Price |
$2.22M |
$1.65M |
$1.86M |
$1.76M |
$1.52M |
$1.34M |
$1.93M |
$1.93M |
$1.37M |
$1.49M |
$1.51M |
$1.48M |
|
Median Asking Price |
n/a |
n/a |
$1.77M |
$1.70M |
$1.68M |
$1.70M |
n/a |
$1.95M |
$2.00M |
$1.95M |
$1.85M |
$1.85M |
|
Avg Asking Price |
n/a |
n/a |
$3.34M |
$3.26M |
$3.12M |
$3.16M |
$3.55M |
$3.56M |
$3.70M |
$3.71M |
$3.48M |
$3.49M |
|
Days on Mkt (active) |
136 |
139 |
141 |
141 |
138 |
138 |
140 |
136 |
144 |
147 |
153 |
158 |
|
Days on Mkt (sold) |
191 |
185 |
193 |
187 |
135 |
199 |
162 |
232 |
208 |
142 |
160 |
150 |
|
Withdrawals |
30 |
21 |
37 |
28 |
45 |
36 |
33 |
28 |
25 |
41 |
25 |
35 |
* Data collected on the 1st of the following month. May figures were collected June 1, 2026.
* Asking price data unavailable prior to August 2025; December '25 median asking price unavailable.
Last month we told you the home market was approaching balance. March's 76 closings against shrinking inventory had supply down to 5.7 months, and we said the buyer-friendly window might be narrowing. Well, the market heard us and decided to be difficult.
April closings slumped to 49, and May recovered to 58 closed sales, a solid bounce that lands right around the two-year average of roughly 60 per month. Meanwhile, inventory ticked up to 444 homes. Run the math and we're back to about 7.7 months of supply. So the flirtation with a balanced market is on pause. Buyers, you've been given a reprieve.
Pending sales came in at 108, down from 119 in April and within range of the 12-month norm. Expect June closings to land somewhere in the high 50s to 60s unless something surprises us.
The price story is where it gets interesting. The median home selling price slid to $1,174,500, the second-lowest of the past twelve months, behind only last November's $1.15 million. The average came in just under $1.5 million. As we noted last month, when the median drifts down toward a level where more buyers can transact, sales volume tends to follow, and that's consistent with the rebound we saw in May.
Now look at the asking side. The median asking price held at $1.85 million, and the average asking price came in around $3.49 million, down significantly from March's $3.71 million peak. That's two months of softening at the top, which suggests some luxury sellers are finally adjusting. They may want to hurry: average days on market for active home listings has climbed every single month this year and now sits at 158 days, the highest of the past twelve months. The well-priced homes are selling. The aspirationally priced ones are aging like fine milk.
Oy.
Bottom line on homes: sales bounced back, prices came down to where buyers live, and the top of the market is slowly getting the memo. It's a mild buyer's market, for now.
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Key Takeaways: Homes
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A Quick Word on Land
Eleven vacant-land sales closed in May against 202 active listings, and the median sale price dropped to $495,000, the lowest of the past year. Land remains a thin, patient market measured in seasons, not months. If you're a buyer with vision and a long timeline, there are sellers out there ready to talk story.
Our Take
Maui is a place that earns your patience, and May 2026 is a good example of why that patience pays.
On condos: don't let the 51 closings fool you. The combination we saw in May (prices retesting the bottom, inventory off its peak, expired listings doubling, and pendings at a 12-month high) is what the early innings of a turn can look like. We're not calling a bottom; we don't do that, and anyone who does is selling something. But the buyers writing offers right now are getting selection and leverage that simply didn't exist two years ago. If you've been considering a Maui condo, the homework matters more than ever; zoning and rental rights now drive value as much as the ocean view does. The math, though, has rarely been more in your favor.
On homes: the market keeps finding its footing right around $1.2 million. The action is at the entry and mid-level; the luxury end is sitting, and the steady climb in days on market is the proof. Sellers who price to the last 90 days of comps are closing. Sellers pricing to 2022 are watching their listings turn stale, and increasingly, watching them expire.
For condos, it's a buyer's market with a capital B, and the pending numbers say buyers have figured that out. For homes, it's a mild buyer's market with a moving floor. Either way, the most expensive thing you can do right now is wait without information.
And remember, next week we'll be back with the companion blog covering the Lahaina rebuild, the latest on Bill 9 and the H-3/H-4 rezoning question, and where tourism stands heading into summer. Those forces shape everything you just read, so don't miss it.
Let's Talk Story
If you have questions about your property's value, what these numbers mean for your situation, or whether this market is your moment to make a move, reach out anytime. We're here as a resource for the Lahaina and Maui community, whether you're ready to act or just trying to make sense of the headlines. No pressure, no agenda, just a conversation.
And if you or someone you know is thinking about buying, selling, or simply keeping track of Maui's real estate market, we've got a fabulous team of seasoned, well-trained agents standing by to help.
You can search every property listed for sale at www.AlohaGroupMaui.com, or email me directly at lee@alohapotts.com. I answer every one.
From the greatest island on Earth, I'm Lahaina Lee, saying ALOOHA.
