June 27, 2009
May 2009 Maui Real Estate Market Update
Residential Unit Sales declined (-45%), average sold price = $748,436 (-19%),median price = $515,000 (-12%). Sales prices for residential homes remained steady at $487,500 and condos rose to $315,000. Land sales median was $530,000.
| Maui home Sales May 2008 vs. 2009 | |||||
| Homes Sold | |||||
| Neighborhood | 2008 | 2009 | Median Sale Prices | ||
| Haiku | 6 | 2 | $ 814,000 | $ 565,000 | |
| Kaanapali | 0 | 1 | $ 0 | $ 1,400,000 | |
| Kihei | 21 | 9 | $ 770,000 | $ 676,000 | |
| Lahaina | 2 | 3 | $ 2,818,000 | $ 1,025,000 | |
| Makawao/Olinda/Halimaile | 1 | 3 | $ 505,000 | $ 525,700 | |
| Maui Meadows | 1 | 0 | $ 999,998 | $ 0 | |
| Napali / Kahana | 2 | 2 | $ 4,942,500 | $ 830,000 | |
| Pukalani | 4 | 4 | $ 706,000 | $ 465,000 | |
| Sprecklesville / Paia/ Kuau | 0 | 1 | $ 0 | $ 490,000 | |
| Wailea Makena | 4 | 3 | $ 3,400,000 | $ 1,425,000 | |
| Island of Maui | 97 | 56 | $ 567,000 | $ 487,000 | |
Condo Unit Sales declined (-50%), average sold price = $661,369 (-31%), median price = $412,000 (-28%). Avg Days on Market for Sold Condos: 111
| Maui Condo Sales May 2008 vs. 2009 | |||||
| Homes Sold | |||||
| Neighborhood | 2008 | 2009 | Median Sale Prices | ||
| Central | 8 | 8 | $ 291,500 | $ 118,750 | |
| Kaanapali | 7 | 1 | $2,125,000 | $1,260,000 | |
| Kihei | 29 | 22 | $ 455,000 | $ 450,000 | |
| Lahaina | 5 | 2 | $ 525,000 | $ 634,000 | |
| Maalaea | 3 | 2 | $ 320,000 | $ 387,000 | |
| Molokai | 0 | 1 | $ 0 | $ 84,000 | |
| Napali / Kahana | 9 | 2 | $ 395,000 | $ 427,750 | |
| Pukalani | 1 | 0 | $ 610,000 | $ 0 | |
| Kapalua | 1 | 1 | $ 780,000 | $ 1,505,000 | |
| Wailea Makena | 21 | 8 | $ 2,527,300 | $ 790,000 | |
| Island of Maui | 84 | 47 | $ 517,000 | $ 315,500 | |
Information on May sales on the island of Maui was provided by Gary Bland a Maui real estate expert.
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Real Estate Group, LLC