This month we're keeping the focus squarely on the market data — condos and single-family homes — and letting the numbers do the talking. April closings are in, and there's more going on beneath the surface than the headline figures suggest.

May 2026 — Key Takeaways

  • Condo sales held steady at 70 in April — a solid month, but the market remains in buyer’s territory with 931 units for sale and nearly 13 months of supply.
  • Home sales dropped sharply from 76 in March to just 49 in April — the lowest since last November. Inventory is essentially flat. The strong March may have pulled demand forward.
  • Median home price bounced back to $1.29M — recovering most of March’s dip. Condo median settled at $651K, consistent with the 12-month range.
  • Pending sales are encouraging on both sides: 119 homes and 100 condos under contract heading into May.
  • Days on market are creeping up for both homes and condos — a sign that buyers are taking their time. More on that below.
  • 53 condo listings withdrawn from market in April — sellers stepping back, not failed escrows. Highest count in several months.

 

Aloha, this is Lahaina Lee with the May edition of the Maui Real Estate Advisor.

This month I’m going to keep things focused on what the numbers are actually telling us. We’ll cover tourism, Lahaina, and the latest on Bill 9 in a separate piece coming later this week — there’s enough happening on all three fronts to give them the space they deserve.

For now, let’s look at April’s closings, what the inventory is doing, and where I think this market is actually headed.

 

Condos

Seventy condo sales in April. That’s a respectable number — not spectacular, but solid. It keeps us in a range we’ve been working with since the market started finding its footing earlier this year.

Here’s the context though. We now have 931 condos for sale. That’s the highest inventory number we’ve seen in this 12-month window, and it gives us just under 13 months of supply. Let me say that again: nearly 13 months of inventory. We are deep in buyer’s market territory — and that hasn’t changed.

Pending sales came in at 100 heading into May. That’s down from 107 last month and 118 in February, which was our recent high. The trend in pendings is worth watching — it’s been slowly softening since that February peak, and pending sales are our most reliable preview of next month’s closings. We’re not alarmed yet, but 100 is not a number that points to acceleration.

On price: the median selling price landed at $651,000 in April. That’s a step back from the $675,000 we saw in March, and it puts us back in the middle of the 12-month range. The average selling price was $972,000 — a meaningful drop from $1.19 million in March. That kind of month-to-month variation in the average tells you the upper end of the condo market was quiet in April. When the big-ticket units aren’t moving, the average drops fast.

Asking prices came in lower too: the average asking price for active listings is down to $1.27 million from $1.31 million last month, and the median asking price is at $799,000 — the lowest we’ve seen in the last seven months. That tells me some sellers are starting to adjust. Whether it’s Bill 9 anxiety, carrying costs, or just a read on the market — there’s downward pressure on the ask side.

Days on Market — A Closer Look

One number I want to highlight this month is days on market. Active condo listings are sitting at an average of 170 days before going under contract. That’s essentially flat from last month, but look at the trend: we were at 140 days back in May 2025 and have climbed steadily since. Buyers are not in a hurry. They’re browsing, comparing, waiting.

For sold condos, the average days on market was 168 in April — up from 148 in March. That means the properties that did close in April spent the better part of six months on the market before finding a buyer.

For sellers, that’s the reality of this market right now. The buyers are out there — but they’re deliberate. Pricing well from day one matters more than ever.

Listing Withdrawals

53 condo listings were withdrawn from the market in April — up from 47 in March and the highest count in several months. To be clear, these are not escrows falling apart. These are sellers choosing to pull their listings entirely. That’s a meaningfully different signal. When a seller cancels a listing, they’re not walking away from a deal — they’re stepping back from the market altogether. Whether it’s Bill 9 uncertainty making the value proposition harder to underwrite, carrying cost fatigue, or a decision to wait and see how the regulatory picture resolves — 53 withdrawals in one month tells me a meaningful number of condo sellers have decided that this is not their moment.

Bottom line on condos: steady sales, rising inventory, softening prices, and a listing withdrawal number that tells its own story. The buyer’s leverage in this market is real — and it isn’t going away anytime soon.

 

 

May '25

Jun '25

Jul '25

Aug '25

Sep '25

Oct '25

Nov '25

Dec '25

Jan '26

Feb '26

Mar '26

Apr '26

Sales

64

56

53

57

45

61

50

75

44

64

74

70

Inventory

875

872

863

849

842

833

890

904

918

909

911

931

Pending Sales

84

80

79

77

87

91

86

75

96

118

107

100

Median Sales Price

$763K

$700K

$675K

$650K

$650K

$614K

$595K

$640K

$630K

$848K

$675K

$651K

Avg Sales Price

$1.09M

$1.31M

$911K

$1.14M

$947K

$920K

$735K

$1.04M

$926K

$1.15M

$1.19M

$972K

Median Asking Price

—

—

—

$849K

$823K

$799K

$800K

$825K

$849K

$839K

$825K

$799K

Avg Asking Price

—

—

—

$1.28M

$1.26M

$1.23M

$1.31M

$1.35M

$1.37M

$1.33M

$1.31M

$1.27M

Days on Mkt (active)

140

144

151

154

154

154

153

154

160

166

172

170

Days on Mkt (sold)

138

124

145

167

125

180

155

162

166

138

148

168

Withdrawals

85

58

62

68

72

71

48

41

54

43

47

53

 

* Data collected on the 1st of the following month. April figures collected May 1, 2026.

* Asking price data unavailable prior to August 2025.

* Listing withdrawals: number of active listings canceled/withdrawn from the market during the month. Does not include escrow cancellations.

 

Key Takeaways

  • 70 condo sales in April — consistent with recent trend, not accelerating.
  • 931 condos for sale — nearly 13 months of inventory. Deep buyer’s market.
  • 100 pending sales heading into May — down from February’s 12-month high of 118.
  • Median selling price: $651K. Average selling price: $972K (upper end quiet in April).
  • Average days on market (active): 170 days, up from 140 a year ago. Buyers are taking their time.
  • 53 listing withdrawals — sellers pulling back, not failed escrows. Highest count in several months.

 

Single-Family Homes

Forty-nine home sales in April. That’s a real pullback from March’s 76 — the best month in two years. And I’ll be honest, the contrast is stark enough that I want to be careful about how I read it.

My strong suspicion is that March pulled forward some demand that would otherwise have closed in April. When you have an unusually strong month, the one that follows often looks weak by comparison — not because the market has changed direction, but because some of the deals that would have been April closings got done a little early. Forty-nine sales is low. But it’s not a collapse.

The number I’m actually more focused on is pending sales. One hundred and nineteen homes are currently under contract heading into May. That is a strong number — the second-highest pending total in our 12-month window, behind only February’s 134. If those deals close as expected, May should look considerably better.

Inventory is essentially unchanged at 437 homes. We were at 436 last month. Supply is stable and we’re still sitting right around 9 months of inventory — which keeps us on the buyer-favorable side of a balanced market, though not as dramatically as the condo side.

Price

The median selling price for homes bounced back to $1,290,000 in April — recovering most of March’s dip to $1.20 million. That’s closer to where we spent most of 2025, which ran consistently around $1.28 to $1.34 million. So, the March number may have been the outlier, not the new baseline.

The average selling price came in at $1,506,000 — a modest uptick from March’s $1,494,000. The average has held in a fairly tight band between $1.37 and $1.51 million for the last five months, which suggests the market is finding some price stability in the mid-range.

On the ask side, the median asking price for active home listings came in at $1,850,000 — down from $1,950,000 last month. The average asking price dropped from $3.71 million to $3.48 million. As with condos, some sellers are starting to move their expectations closer to where deals are actually getting done. That gap is narrowing, but it’s still wide.

Days on Market

Active home listings are averaging 153 days on market — up from 147 last month, and the highest in this 12-month window. We were at 135 days back in September. That steady climb tells us that homes are sitting longer before finding buyers, even as the sales pace has been reasonably active.

For sold homes, the average days on market was 160 in April — up from 142 in March. One caveat: March’s 142-day sold average was notably low, likely because the high volume of closings included some properties that had been sitting and finally found buyers when prices adjusted. The April number is more in line with the 6-month trend.

Listing Withdrawals

Home listing withdrawals dropped to 25 in April, down from 41 in March. That’s a positive sign. Fewer sellers pulling back in a slower sales month suggests conviction on both sides — the sellers who stayed in the market were committed to transacting, and the buyers who went to contract in a quiet month tend to follow through. Those are the kinds of deals that close.

March was the outlier — in the best possible way. April is the market finding its level. And with 119 homes pending heading into May, the foundation looks solid.

Bottom line on homes: April was soft on sales but strong on pendings. The median price recovered. Days on market are creeping up — but so is buyer intent, based on what’s under contract right now.

 

 

May '25

Jun '25

Jul '25

Aug '25

Sep '25

Oct '25

Nov '25

Dec '25

Jan '26

Feb '26

Mar '26

Apr '26

Sales

55

66

60

60

56

63

49

66

52

46

76

49

Inventory

435

438

439

441

438

436

450

446

456

448

436

437

Pending Sales

120

105

112

108

109

101

104

96

120

134

110

119

Median Sales Price

$1.30M

$1.32M

$1.32M

$1.28M

$1.29M

$1.23M

$1.15M

$1.34M

$1.45M

$1.25M

$1.20M

$1.29M

Avg Sales Price

$1.55M

$2.22M

$1.65M

$1.86M

$1.76M

$1.52M

$1.34M

$1.93M

$1.93M

$1.37M

$1.49M

$1.51M

Median Asking Price

—

—

—

$1.77M

$1.70M

$1.68M

$1.70M

—

$1.95M

$2.00M

$1.95M

$1.85M

Avg Asking Price

—

—

—

$3.34M

$3.26M

$3.12M

$3.16M

$3.55M

$3.56M

$3.70M

$3.71M

$3.48M

Days on Mkt (active)

135

136

139

141

141

138

138

140

136

144

147

153

Days on Mkt (sold)

161

191

185

193

187

135

199

162

232

208

142

160

Withdrawals

41

30

21

37

28

45

36

33

28

25

41

25

 

* Data collected on the 1st of the following month. April figures collected May 1, 2026.

* Asking price data unavailable prior to August 2025.

* The April drop in home sales from March’s 76 to 49 is likely partly attributable to demand pull-forward. 119 pending sales heading into May supports this interpretation.

 

Key Takeaways

  • 49 home sales in April — down sharply from March’s 76, likely reflecting demand pull-forward.
  • 119 homes pending heading into May — second-highest in 12 months. May should be stronger.
  • Inventory essentially flat at 437 homes — ~9 months of supply. Buyer-favorable but not extreme.
  • Median selling price recovered to $1.29M, back in line with 2025 norms after March’s dip.
  • Average asking price declined to $3.48M (from $3.71M) — sellers adjusting expectations.
  • 25 listing withdrawals — sellers staying committed. Lowest count in several months, a positive sign.

 

Our Take

Two months ago, March looked like a turning point. And in the home market, I still think it was — just not in the ‘straight-line acceleration’ kind of way that one big month can suggest. Markets don’t move like that. They move in waves.

What April is telling me is that both markets have found a rhythm. Condos are selling at a pace that keeps the market from stalling, but inventory is growing and sellers are starting to feel the pressure. Homes had a soft month on closings but a strong month on pendings — which is actually the more forward-looking number. May should tell us a lot.

The days-on-market trend is the one I keep coming back to. Both homes and condos are taking longer to sell than they were a year ago. That’s not a crisis — but it’s a reminder that we are not in a market where good properties sell themselves. Presentation, pricing, and strategy matter more right now than they have in a while.

For buyers: the conditions are still favorable, especially on the condo side. Inventory is high, sellers are adjusting, and there’s no urgency driving prices up. If you’re doing your homework, this is still a market worth being patient in.

For sellers: the data says price it right from day one. Properties that sit collect days on market and attract lower offers. The buyers who are out there are informed and deliberate. Meeting them where the market actually is — not where you wish it was — is what gets deals done.

For buyers: patience and information are your best tools. For sellers: price right from day one. The market will meet you — but only if you meet it first.

We’ll be back next week with updates on Lahaina, tourism, and Bill 9. A lot has been happening on all three fronts, and those topics deserve their own space.

In the meantime, if you have questions about anything in this report, or if you’d just like to talk story about what this market means for your situation — reach out. Lee@AlohaPotts.com. I answer every one.

From the greatest island on earth — this is Lahaina Lee saying aloha.

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