February 2026 Maui Statistics and Market Update

It has been a tough couple of weeks on Maui and across Hawaii. A series of winter storms, or Kona Lows, has brought significant rainfall and, at times, strong winds. The flooding and downed trees have damaged property and infrastructure. That said, as the last of the weather passes, cleanup is well underway.

One thing that I have learned living here for 23 years is that the strong sense of community in Hawaii helps us rally and recover. You can see that on Maui, where community members worked Upcountry and in Hana to clear trees off roads and driveways, and in Wailuku, where neighbors helped with flood damage. It is evident on Oahu where friends and neighbors drive the cleanup efforts after significant flooding on the North Shore. If you would like to help the community, this article includes links to nonprofits supporting the recovery efforts.

On the real estate front, our Maui Statistics and Market Update posts focus on data more likely to provide a clearer sense of current market conditions. Sales are a lagging indicator, but inventory and pending sales speak to current supply and demand. That said, I must admit this market update feels like a lagging indicator. That is due to both its publication date and to local and international events that have impacted us in the last two weeks.

What We Are Seeing in The Market (February)

February was a relatively strong month for real estate activity on Maui, by recent standards. New pending sales for homes and condos were well above last year’s levels. Condo new pending sales were the highest since the Mayor first proposed Bill 9 in May 2024. Buyers responded to lower interest rates and lower prices.

The increase in pending sales occurred across almost all price points. There was some geographic variability in pending sales, with communities like Kihei leading the increase. Some communities saw mixed fortunes, with increases in pending home sales and declines in pending condo sales.

What We Are Seeing in the Market (Late March)

I don’t want to go too deep on this section as I plan to do a market update earlier in April, but I thought it was at least worth noting the changes in dynamics.

The month started on a strong note similar to February. Then, we saw a shift. On a global level, the war in the Middle East is having economic impacts all over the world. In terms of the real estate market, the biggest impact is on interest rates. They have been up sharply over the last couple of weeks. That is causing mortgage applications to drop nationally.

Locally, we are dealing with the storm’s impact. Kihei, one of the stronger markets in February, saw some of the most severe local impacts, with extensive flooding along South Kihei Road. The road is being repaired, while thick piles of mud are slowly removed. Kihei Kai, a small condo development on Sugar Beach, suffered extensive damage. This comes at a time of year when second-home buyer activity is typically near its peak.

The combination of the two events is a factor in the slower market activity over the last couple of weeks. The question is whether the impact will be short-term or long-term. Much of that will depend on how long the conflict in the Middle East lasts. We will continue to track market data and provide updates on this blog.

A Visual Interlude Before We Delve into the Data

This Haiku listing offers more fun per square foot than any property on Maui. Check out the listing page for more details.

February 2026 Maui Market Activity

New Listings

New home listings were 15.4% lower than last February and 39.8% below the February average between 2017 and 2019. New condo listings were 8.2% below last February and 30.7% below the February average between 2017 and 2019.

New Pending Sales

The number of homes that went under contract in February was 20% higher than in February last year, but 27.5% lower than the February average from 2017 to 2019. The number of condos that went under contract in February 2026 was 62% higher than in February 2025, but still 41.3% below the February average between 2017 and 2019.

Closed Sales

The number of homes sold this February was 20% below last February and 51.6% below the average from 2017 to 2019. The number of condos sold in February was 25% higher than in February last year, but still 49.2% below the February average from 2017 to 2019.

February End-of-Month Home Inventory

One quick note about the numbers. Eagle-eyed readers of our end-of-the-month stats may note that I included a new community this month in the inventory. Maui Meadows inventory data is now being included. While not a town, it has always been treated as a separate district on the Maui MLS. It is a desirable area, and it sees more transaction volume than some Maui communities.

Notable Numbers from the end of February Home Inventory

The inventory of active homes for sale decreased 2.6% (11 properties) between the end of January and February 28. The inventory of pending home sales increased 14.2% (16 properties) between January 31 and February 28. The 129 pending home sales were the highest end-of-month total since May 2024.

Looking at active inventory by price point, the $1,000,000-$1,500,000 price range continues to decline. After peaking on Halloween at 131 listings, inventory declined almost 20% by the end of February. This stems from a combination of better mortgage rates and price adjustments by sellers trying to attract buyers. Most of the month-to-month increase in active inventory was with homes priced at $3,000,000 and above. This stems from both new homes coming to market and lower buyer demand in this price range.

Looking at pending inventory by price point, all but two price ranges increased month-to-month. The exceptions were the $750,000-$999,999 and the $20,000,000+ price ranges. The $1,000,000-$1,499,999 price range stands out again. The 53 pending sales are the highest end-of-month total since Spring 2024.

Looking at active listings by community, Kihei continues to see a decline after peaking at 92 at the end of November. The inventory decreased by 29.3% at the end of February. Haiku has experienced an increase in listings. While we weren’t tracking community-level data back then, I am guessing that is the highest Haiku inventory we have seen since 2020 or 2021.

The decrease in active listings in Kihei is mirrored by an increase in pending listings. Other notable increases in pending listings occurred in Pukalani, Wailea, and Wailuku. On the other end of the spectrum, Hana, Kapalua, and Ka’anapali all ended the month with no pending listings. Kapalua and Ka’anapali point to a quieter winter for luxury home buyers in West Maui. Hana continues its stretch of slower activity with just one pending sale since May.

End of February Maui Condo Inventory

Notable Numbers from the February End-of-Month Condo Inventory

Active listings decreased 1.7% (18 condos) between the end of January and February 28. The number of pending sales increased 29.2% (26 condos). The 114 pending condos were the highest end-of-the-month figure since April 2024, right before Bill 9 was proposed.

Looking at active inventory by price point, there is significant month-to-month fluctuation. The one price range showing signs of a trend is the decrease in active listings between $250,000 and $499,999. After growing steadily and peaking in November, active listings fell in three successive months, by 11% overall.

The $250,000-$499,999 price range also stands out when looking at end-of-month pending sales by price point. The number of pending sales increased 130.8% between the end of December and the end of February. The $500,000-$749,999 and $1,000,000-$1,999,999 price ranges also saw healthy increases in pending sales.

Looking at active inventory by community, Kapalua and Kihei stand out for declining inventory. Ka’anapali stands out for its increased inventory. The number of active condo listings in Ka’anapali has increased for five successive months.

Kihei and Wailuku had the biggest increase in pending inventory between the end of January and the end of February. Wailea was the one community with a notable decrease in pending listings between the last day of February and the last day of March.

>> Contact The Maui Real Estate Team if you have any questions or need assistance with buying or selling. We welcome feedback on our posts and any suggestions on topics you would like us to cover on the blog.