What the Numbers Show

• Single-family closed sales: 55 · down 8.3% from July 2025
• Single-family median price: $1,150,000 · down 12.5% year-over-year
• Single-family average price: $1,589,075 · down 3.8%
• Single-family days on market: 135 · down 20.1%
• Single-family inventory: 469 active · 8.0 months supply (-1.2%)
• Single-family new listings: 99 · up 1.0%
• Single-family pending sales: 69 · up 9.5%
• Single-family list price received: 96.3%
• Condo closed sales: 82 · up 54.7% from July 2025
• Condo median price: $690,000 · up 2.2% year-over-year
• Condo average price: $1,012,795 · up 11.2%
• Condo days on market: 153 · up 5.5%
• Condo inventory: 878 active · 13.2 months supply (-14.8%)
• Condo new listings: 108 · down 14.3%
• Condo pending sales: 81 · up 30.6%
• Condo list price received: 95.8%
• Land closed sales: 7 · median $628,300
• All properties combined: 144 closed (+17.1%) · median $900,000 · 11.4 months supply

What Is Moving

The condo market, decisively. Two consecutive months above eighty closings is a pace the island has not sustained since before the correction, and the year-to-date count now totals 477, up 16.6% from 409 a year ago. The pipeline has not emptied either: condo pending sales rose 30.6% to 81, the sixth straight month of year-over-year gains in condo contracts. Combined closings rose 17.1% to 144. Single-family cooled from June’s peak — 55 closings, down 8.3% — but the year-to-date count still leads 2025, 419 to 409. Kihei led condos with 31 closings at a $695,000 median, more than a third of the island’s total; Wailea/Mākena added 8 at a $3,750,000 median. On the single-family side, Wailuku led with 12 closings at a $1,000,000 median, and Kihei followed with 10 at $1,007,500.

What Is Sitting

The condo median turned positive: $690,000, up 2.2% year-over-year — the first annual increase in the monthly condo median in more than a year. After a spring of double-digit declines, July’s figure reflects a shift in what is selling: the condo average rose 11.2% to $1,012,795, meaning higher-tier units re-entered the mix alongside the entry-level volume. One month of a rising median, on Maui’s modest monthly counts, is a data point and not a trend — the year-to-date condo median of $660,000 remains down 9.8%. On the single-family side, the July median of $1,150,000 fell 12.5%, but the year-to-date median of $1,228,000 is down just 5.5%, and days on market dropped 20.1% to 135 — homes that sold, sold faster. List price received held firm at 96.3% for single-family and 95.8% for condos. Buyers and sellers are meeting closer together than they were three months ago.

Inventory and Absorption

Absorption tightened for a fourth straight month on the condo side. Condo months supply fell 14.8% to 13.2 — the steepest year-over-year decline of the year, continuing a trend that began in April. Single-family months supply eased 1.2% to 8.0. What is notable in July is the supply side: condo new listings fell 14.3%, and active condo inventory declined year-over-year for the first time in this cycle, down 0.5% to 878. Fewer condos are coming to market, and the ones already listed are being absorbed — the two forces that move a months-supply figure, both pointing the same direction. Single-family inventory held nearly flat at 469. Combined months supply stands at 11.4, down 7.3%. The condo surplus that defined 2024 and 2025 is receding.

Wailea & Mākena

A strong month for the resort market. Single-family: 1 closing at $3,870,000; year-to-date, 17 closings — more than double the 8 recorded at this point in 2025 — at a $2,780,000 YTD median. Condominium: 8 closings at a $3,750,000 median with $28,574,999 in volume, the highest monthly condo dollar volume from Wailea/Mākena this year. Year-to-date, 49 condo closings at a $2,150,000 median and $146.6 million in total volume, continuing to carry more dollar volume than any other sub-market on the island. The YTD medians remain below 2025, reflecting the same mix shift visible island-wide — activity weighted toward the $2M–$4M core rather than the estate tier.

National Context

U.S. existing-home sales declined 2.4% month-over-month to a seasonally adjusted annual rate of 4.09 million, though sales were up 2.8% from a year earlier, according to NAR. The national median existing-home price reached a new record of $440,600, up 1.8% year-over-year — the 36th consecutive month of annual price gains. National inventory stood at 1.56 million homes, a 4.6-month supply, with homes spending a median of 28 days on the market and first-time buyers accounting for 33% of purchases. Maui’s rhythm remains its own — 11.4 months of combined supply here against 4.6 nationally — shaped by island supply constraints, resort demand cycles, and the Bill 9 regulatory environment.

Jolanta’s Feedback

Six months ago, the condo market was the quiet worry — rising supply, falling prices, buyers waiting. The sequence since then: pending contracts building from February, closings converting in June, and now two months of condo volume above anything in recent memory, with the median turning positive and supply receding for a fourth straight month. That is a pattern built month over month rather than a single figure. I am not calling a bottom. The year-to-date numbers still show softness, and single-family cooled in July. The condo side of this market still looks different in August than it did in February, and the data is what changed my read, not the other way around. August will show whether the summer’s momentum carries into the fall.

Source: REALTORS® Association of Maui MLS resale data. Deemed reliable but not guaranteed. For general information only — not an appraisal, forecast, or investment advice.