What Do the Condominium Figures Show?

The data measures closed sales in dollars per square foot of living area, in years running July through June.

Closed sales moved from 727 to 553 to 741. The median moved from $920.44 to $879.92 to $784.93. The mean moved from $995.44 to $923.27 to $933.45.

The most recent year carried both the largest number of closings and the widest range of prices per square foot in the three-year span.

Those first two figures move in opposite directions, which is worth pausing on.

What Is the Difference Between the Median and the Mean?

The median is the middle sale. Line every sale up in order and the median is the one standing in the center. The mean is the average, every sale added together and divided by the number of sales.

Picture five sales at $600, $700, $800, $900 and $1,000 per square foot. The median is $800, the one in the middle. The mean is also $800.

Now change that $1,000 sale to $3,000. The median is still $800, because the middle sale has not moved. The mean jumps to $1,200. One sale changed. Half the market did not.

That is why the two figures can move in different directions. In the Maui data, the highest recorded price per square foot rose from $2,740.85 to $4,394.72 across the three years, while the lowest moved from $159.93 to $44.05. A wider spread lifts the average while leaving the middle sale lower.

Both numbers are accurate. They answer different questions.

Is $784.93 the Price of a Maui Condominium?

No. That figure is dollars per square foot of living area. A 900 square foot unit and a 1,800 square foot unit at the same rate carry very different prices.

For comparison, the same source placed the median Maui condominium sales price at $818,000 for the year ending June 2025. Price per square foot and sales price are two separate measures.

How Large Is the Visitor Economy in Maui County?

Tourism accounts for an estimated 29% of value added in Maui County, using the 2017 Hawaiʻi inter-county input-output model. Kauaʻi is estimated at 30%, Hawaiʻi Island at 20%, and Oʻahu at 15%.

Statewide, Hawaiʻi gross domestic product reached $124.6 billion in 2025. Tourism output accounted for roughly $20 billion of that total.

What Do Forecasters Expect From Interest Rates?

The National Association for Business Economics June 2026 outlook projects the 10-year Treasury yield easing from 4.47% toward 4.23% by the end of 2027. It projects the federal funds rate moving from 3.625% toward 3.356% over the same period.

The 30-year mortgage rate has historically run about 175 basis points above the 10-year Treasury yield. That gap has recently been running roughly 20 to 25 basis points wider.

What Short-Term Rental Rules Apply to Maui Condominiums?

Maui County Council passed Bill 9 on December 15, 2025, and Mayor Richard Bissen signed it the same day. It is codified as Ordinance No. 5909.

The ordinance discontinues transient vacation rental use in apartment-zoned districts, A-1 and A-2, over a defined phase-out period. The current dates and terms are set out in the ordinance itself, linked below.

The ordinance applies to apartment-zoned properties, including those on the Minatoya List. Properties in hotel- and resort-zoned districts, where transient accommodations are expressly permitted, are not affected.

According to the County, approximately 6,500 transient vacation rental parcels countywide, along with hotel units, timeshares and bed-and-breakfast operations, continue to operate. Those are separate from the apartment-zoned units the ordinance phases out.

Whether any individual condominium is affected depends on its zoning designation. That is a matter of County records rather than of any island-wide figure.

What Is Bill 88?

A second ordinance followed. Ordinance No. 6008, effective June 22, 2026, established two new hotel zoning districts, H-3 and H-4.

Ordinance 6008 does not rezone any property by itself. It creates the districts and a pathway through which eligible apartment-zoned properties may seek hotel zoning. That happens in a separate process, moving through Council resolutions, community plan amendments and the Maui Planning Commission.

Several of those rezoning proposals are before the Council now. This remains an active and evolving process, and the picture continues to change.

Please follow the County of Maui for details, current status and continued updates and development.

Official Resources

Hawaiʻi Department of Business, Economic Development and Tourism — dbedt.hawaii.gov · monthly economic indicators

County of Maui Planning Department — mauicounty.gov · Ordinance No. 5909, Ordinance No. 6008, zoning designations and property records

Jolanta’s Feedback

The number I keep returning to is 741. That is the busiest of the three years for condominium closings, and it came alongside a lower middle price per square foot.

Those two facts sit together comfortably once you look at what a median actually measures. More people bought. What they bought was a different mix than the year before.

If you own a Maui condominium and want to know what this means for your unit, the honest answer is that an island-wide figure cannot tell you. Your building, your square footage and your permitted use will.

Source: REALTORS® Association of Maui data, Hawaiʻi DBEDT, and the National Association for Business Economics, as presented by Paul H. Brewbaker, Ph.D., CBE, TZ Economics, July 31, 2026. Deemed reliable but not guaranteed. For general information only — not an appraisal, forecast, or investment advice.