|
Category |
This Week |
Price Range |
Market Signal |
|
Sold |
1 |
$5,600,000 |
Ka'anapali Coffee Farms closes after 225 days |
|
Pending |
2 |
$4,495,000 – $6,696,000 |
Makena Surf finds buyer; Puunoa deal tightens |
|
New Listings |
5 |
$4,700,000 – $26,500,000 |
Broad range — Hana to Makena, Maalaea oceanfront joins the week |
|
Price Reductions |
3 |
$4,095,000 – $5,495,000 |
West Maui and Wailea sellers repositioning |
|
Cancelled / Expired |
0 |
--- |
Quiet week on the exit side |
Market Snapshot
One closing, two pendings, five new listings, and three price reductions — a busier-than-recent week with movement across multiple segments. The closed sale is the Ka'anapali Coffee Farms estate that went under contract in May after two and a half years of price discovery; it finally found a cash buyer at $5,600,000. On the pending side, Makena Surf E-205 goes under contract after 207 days, and the long-running Puunoa estate at 200 Hokiokio Pl quietly shifts from Pending-Continue to Show to Pending-Do Not Show — a meaningful signal after eight months in escrow.
Five new listings entered the market spanning a remarkable range: a 2002 oceanfront home in Hana at $4.7M, a six-bedroom Makena compound at $26.5M, a 1942 oceanfront estate in Maalaea, and two Wailea/Kapalua condos freshly priced. The price reduction section tells its own story — three sellers in West Maui and Wailea adjusting after 121 to 364 days on market. The Honua Kai Konea NR202 reduction after nearly a year is the headline: the only oceanfront three-bedroom at Honua Kai has now come down $450,000 and the seller needs to find a buyer.
Closed Sales
Single-Family Homes
Ka'anapali Coffee Farms | Ka'anapali | 2600 Aina Mahiai St
5 bd | 4.5 ba | 3,555 sf | 5.19 ac | mountain/ocean view
List Price: $5,900,000 | Sold Price: $5,600,000 | DOM: 225 | Cash
This one was covered in last week's pending section, but the full arc is worth recapping on the close. Third time on the market since September 2023, originally asking $7,495,000. Five price reductions over nearly two and a half years to land a cash buyer at $5,600,000 — a $1,200,000 discount from final list and $1,895,000 off the original ask. The 5.18-acre lot within Ka'anapali Coffee Farms' gated organic plantation community above Ka'anapali: heated pool, fruit orchard, trade winds, ocean views. Sold cash with a contract date of May 7 and a quick 20-day close. The journey from $7.495M to $5.6M is the real story of where this segment has moved over the past two and a half years.
Pending Sales
Single-Family Homes
Puunoa | Lahaina | 200 Hokiokio Pl
4 bd | 4.5 ba | 3,854 sf | 5.77 ac | ocean view
List Price: $6,696,000 | Original: $7,295,000 | DOM: 457 | Contract: 9/23/2025 | Status: Pending – Do Not Show
This one has been quietly sitting in Pending-Continue to Show since September 23, 2025 — nearly eight months. This week it shifted to Pending-Do Not Show, which is the signal we've been waiting for. When a seller stops accepting backup showings after that long a wait, it almost always means a meaningful due diligence hurdle has cleared. What that hurdle was, we won't know until it closes. The deal structure is unusual: the listing offered 50% seller financing at 5% for five years, plus a 25% co-ownership option through Cohana Homes — creative terms that suggest a seller who needed to engineer the right buyer rather than wait for a conventional one. 2020-built single-level estate on 5.77 acres in Puunoa above Lahaina, pool and spa, panoramic ocean and outer island views. At $6,696,000 after 457 days and a $599,000 discount from original list, when this closes it will be a meaningful comp for the above-Lahaina market.
Condominiums
Makena Surf | Makena | 4850 Makena Alanui Rd, Unit E-205
2 bd | 2 ba | 1,313 sf | beachfront | ocean view | Hotel Zone – STR Allowed
List Price: $4,495,000 | Original: $4,495,000 | DOM: 207 | Contract: 5/23/2026
This is the second time around for this property. It was originally listed by the same broker bake in January or 2025 for $5.195M. This time she hung in there for 207 days at the same list price and finally found a buyer — no price reduction, which is notable in this condo market. Second-floor unit at Makena Surf, perched above one of Makena's finest beaches with panoramic ocean and outer island views. 1984 construction with 2022 cosmetic upgrades: new A/C, paint, furnishings, lighting, carpet. Granite counters, tiled showers, plantation shutters, sold furnished. Hotel Zoned – STR Allowed, with an active rental program. Makena Surf units don't trade often — the complex is gated, 15 acres, two pools, tennis, pickleball, and sits at the quieter southern end of Wailea.
New Listings
Single-Family Homes
Hana | 51 Kapohue Rd
3 bd | 3.5 ba | 3,295 sf | 1.10 ac | oceanfront
List Price: $4,700,000
This seller is hoping that the 4th time and the second broker are the charm. Previously listed at $5M this is a custom-built oceanfront home on 1.1 acres in Hana. There is very small pool of buyers for a home at this price in that location as demonstrated by the total amount of time it’s been on the market going back to the original listing in 2020. Three bedrooms, 3.5 baths, 3,295 sf with soaring ceilings and a tiki bar area on the oceanfront grounds. Paragon shows the listing agent must be present for all showings with 48-hour notice, which is standard for a working property in this location. At $4.7M for direct oceanfront on 1.1 acres, the pricing will depend entirely on condition and how serious the buyer pool for Hana oceanfront is right now.
Makena | 7505 Makena Rd
6 bd | 6 ba | 8,664 sf | 1.03 ac | ocean view | + 2/2 ohana | across street from ocean
List Price: $26,500,000
This home was purchased in May of 2022 for $26,490,700. That odd number indicates some serious negotiation took place. It came back to market just 7 months later at $33,9M, and it’s been for sale ever since. The seller his/her third broker, and the price is back below the original purchase price. There was some renovation in 2024 with includes “the largest residential Tesla Solar Roof in the US. The compound is on a gated and walled one-acre estate in Makena: 8,664 sf of living across the main home plus a 2/2 ohana, heated lap pool, sauna, spa, 4-car garage plus 4 carports. It’s across the street from the ocean rather than on it, though ocean views and Haleakala sunrise views are cited. The ask of $26.5M puts this in very thin air — global buyer pool, proof-of-funds required, appointment only. Worth watching for how quickly the market responds to this entry point.
Condominiums
The Resort at Kapalua | Kapalua | 1 Bay Dr, Unit 2204
3 bd | 3.5 ba | 2,789 sf | fl. 1 | beachfront | ocean view | Hotel Zoned - STR Allowed
List Price: $3,249,000
After 3 tries with a different broker at listing prices as high as $4.175M this seller is now two days on market with a new broker and much more competitive price. First-floor residence at The Resort at Kapalua on Kapalua Bay — the beach that Condé Nast Traveler has named the #1 in America. 2009-built, 2,789 sf, 613 sf covered lanai, sold furnished with exceptions. Hotel Zoned – STR Allowed. Important disclosure buyers will need to understand: there is a special assessment for an exterior renovation of Building 2, with construction scheduled October 20, 2026 through July 19, 2027 — a nine-month construction window that will affect the building and likely the guest experience for anyone running a short-term rental program during that period. At $3,249,000, pricing looks competitive for Kapalua Bay frontage, but buyers should underwrite the assessment and the construction timeline carefully before writing an offer.
Wailea Point | Wailea | 4000 Wailea Alanui Dr, Unit 1103
3 bd | 3 ba | 2,163 sf | fl. 1 | beachfront | ocean view | not STR eligible
List Price: $7,495,000
Six days on market. Wailea Point is one of the most exclusive low-density condominium communities on the Wailea coast — gated, beachfront, and positioned directly above the Wailea beach walk. Unit 1103 occupies an elevated promontory with unobstructed ocean, outer island, and coastline views from the main living area. 1987-built, renovated 2018: Koa wood entry door, sand-toned limestone floors, hand-cast glass tile, Taj Mahal Quartzite kitchen, Lutron smart lighting system, motorized shades. Inground, heated, and lap pools on site. Sold fully furnished. Short-term rental is not allowed — this is an owner-user or long-term rental play only, which narrows the buyer pool but also keeps the community quiet and exclusive. The listing includes a separately deeded garage parcel. At $7,495,000, Wailea Point is priced at the level its position on the coast commands.
Maalaea | Wailuku | 210 S Hauoli St
2 bd | 2 ba | 1,900 sf | 0.84 ac | oceanfront | + studio cottage
List Price: $6,995,000
I’ve driven by this house for 20 years and never noticed it was even there. Over 125 linear feet of ocean frontage in Maalaea, which is one of the least-discussed and most underrated coastal addresses on Maui. 1942 original construction, fully remodeled in 2012: rich wood floors, vaulted ceilings, pocketing doors opening to expansive oceanfront decks, 1,900 sf main home plus a separate 320 sf guest cottage with private hot tub. Gated, 0.84 acres, beautifully landscaped. No pool. Maalaea as a location has its quirks — it is one of the windiest spots on the island, which keeps the kite surfers happy and the casual visitor moving along. It has been on the market with a different broker since 2024 when the asking price was $9.3M. After dropping to $7.9 in early 2026, the seller is trying a new broker and more attractive price.
Price Reductions
Single-Family Homes
Mahana Estates | Kapalua | 300 Mahana Ridge St
4 bd | 4.5 ba | 3,156 sf | 1.29 ac | ocean view
Current Price: $5,495,000 | Original: $5,950,000 | DOM: 121
This is the 4th time this one has been listed and this time the seller has a new broker. Starting at $8.5M in 2024, the price has come a long way. Now, with a new broker and a new starting price under $6M, with this $455,000 reduction after 121 days, the seller is getting serious. This 2021-built Mahana Estates home — the developer's personal lot selection out of all 51 parcels in the community, which the listing is not shy about noting. The listing makes a pointed comp argument: comparable homes at 500 Mahana Ridge and 410 Mahana Ridge sold for $7.625M and $7.8M respectively, positioning this at $2M+ below those comps. Whether that gap reflects condition, timing, or a different buyer dynamic is for the market to determine. 3,156 sf, 4 bed/4.5 ba, heated pool and spa, solar, 1.29 acres on a gentle slope. The 14 Halapa Pl sale at The Ridge at Wailea under contract at $11.998M next door in the luxury gated enclave segment provides some broader West Maui context. At $5,495,000 and 121 days in, the seller is adjusting before the market forces a larger cut.
Wailea Pualani | Wailea | 3378 E Lani Ikena Way
4 bd | 4.5 ba | 3,328 sf | 0.25 ac | mountain/ocean view
Current Price: $4,095,000 | Original: $4,799,000 | DOM: 127
A $704,000 reduction — nearly 15% off original ask — after 127 days on this newly completed 2025 Wailea estate. New construction in Wailea Pualani: floor-to-ceiling glass, hardwood floors, natural stone, waterfall-edge kitchen island, lap pool with Baja shelf and spa, solar, smart home. One of the listing agents is the seller — a builder/developer selling their own product. The pricing arc from $4,799,000 down to $4,095,000 on a brand-new home in 127 days is a signal that new construction in this location has found its ceiling, and the seller knows it. At $4,095,000 for a 2025-built Wailea view home, this may finally be where the math starts to work for buyers.
Condominiums
Honua Kai – Konea | Ka'anapali | 130 Kai Malina Pkwy, Unit NR202
3 bd | 3 ba | 2,230 sf | fl. 2 | beachfront | ocean view | Hotel Zoned – STR Allowed
Current Price: $4,950,000 | Original: $5,400,000 | DOM: 364
364 days and now a $450,000 reduction drops this condo into a new price band. This is the only oceanfront three-bedroom currently available at Honua Kai — a rare product type that the listing notes hasn't been offered in nearly three years. Second floor, L-shaped lanai with 600 sf of covered and uncovered space, Viking grill, professional kitchen, fully furnished, active rental program. The property is real; the pricing has been the story. At $5,400,000 for nearly a year the market said no. At $4,950,000 the question is whether this finally enters the range where the buyer math pencils. For context, the Honua Kai SR409 two-bedroom at $3,200,000 listed last week — a very different unit type, but the same resort. Buyers in this complex now have two meaningful data points to work with.
Cancelled / Expired
None this week.
Our Take
The $4M+ home inventory rose slightly this week, moving up from 93 to 97 homes for sale. Condo inventory in the $3M+ range remained steady with 71 luxury condos for sale.
As we begin the turn into the summer buyer season, we are seeing some inventory return to the market with new listings and, in many cases, much more realistic pricing. It seems like sellers — at least these sellers — are beginning to find some motivation. This is as expected.
Now, will buyers respond? Will high-net-worth investors take some of their AI gains out of the market, which continues to hit new highs, and move to hard assets like Maui luxury real estate? As we see new listings coming in at lower asking prices and continuous price reductions — including revenue-producing luxury condos — it may be a good time to buy low and sell high.
