October 2025 Maui Statistics and Market Update

It’s November on Maui, and Ho’oilo, or the Wet Season, started in earnest on Maui over the last couple of weeks, bringing welcomed rains and some drought relief to portions of the island. Before we get too far into November, I wanted to take a look back at the October 2025 Maui Statistics and give a broader market update.

This post provides an overview of what we are seeing in the market, followed by the October Maui Real Estate statistics, including new listings, new pending sales, closed transactions, and end-of-the-month active and pending inventory by price point and community.

What We Are Seeing in the Market

While buyer activity was boosted by some of the lowest interest rates in a year, October proved to be a quieter month in the Maui market. While we can’t say definitively that it was the cause of the slower month, the drop in buyer activity occurred pretty soon after the start of the federal government shutdown on the first of the month.

The Single Family Home Market

The single-family home market was slower in October, but it wasn’t a seismic shift. There were more new home listings in October than in the past three years, and new pending sales were slower than last year. Despite that, overall home inventory levels increased nominally, perhaps due to some sellers withdrawing their homes from the market seasonally.

It is worth noting that new inventory and buyer activity remain significantly below pre-COVID levels. Overall home inventory also remains below early 2020 levels.

Similar to the previous few months, the trajectory of home values remains mixed. While some homes are holding steady in value, prices are softer in communities and price points with higher inventory. Kihei remains the one community where prices are clearly adjusting downward.

The Maui Condo Market

Activity in the condo market was better than in October 2023 and October 2024, but still well below “normal.” Transaction volumes remain below 50% of pre-COVID levels.

Uncertainty over short-term rentals in apartment-zoned condos continues to be a factor in the market. October saw some progress towards resolution on Bill 9 with a report issued by four council members calling for the creation of a new type of hotel zoning, and a list of apartment-zoned condos recommended for the new hotel zoning. However, the same document also recommended that Bill 9 be passed without additional amendments, with the creation of the new zoning and rezoning of selected apartment-zoned condos to follow.

This proposed path forward ensures some uncertainty will persist over vacation rentals even after Bill 9’s passage. The new zoning still needs to be passed, and it could take a year to be approved. Before the final vote, we could be looking at a changed political landscape with mayoral and county council elections scheduled for 2026. You can read a full overview of the latest on Bill 9 over on our blog.

Prices continued to see downward pressure in October. While condos potentially impacted by Bill 9 have seen the most significant decreases in value, hotel-zoned condos and those that never allowed short-term rentals are experiencing less significant declines. Higher association costs and buyer preferences appear to be a factor in the more general price declines.

The Maui Luxury Property Market

October was a little quieter in the luxury home market, with just two homes priced $3,000,000 and above going under contract. That is just below the three homes that went under contract during October 2024 and the five homes that went under contract in October 2025. It was notable that the two homes that went under contract were both in Wailea. The South Maui resort community has experienced a decline in buyer activity in 2025.

There were five homes priced over $3,000,000 that sold in October. The five homes included three in West Maui, one in South Maui, and one on the North Shore. Through Halloween, fifty-nine homes priced $3,000,000 or above have sold. That is three more than what sold through the first ten months of 2024.

The luxury condo market also had a relatively quiet October. Only two condos priced $2,000,000 or above went under contract. By comparison, six went under contract in October 2024 and four in October 2023.

Six condos sold for more than $2,000,000 in October. Last October, there were seven sales. That widened the gap between 2024 and 2025. As of Halloween, it was 132 sales to 69. That comes with the caveat that most, but not all, of that gap can be attributed to new developer sales at La’i Loa during 2024.

What it Means for Buyers and Sellers Entering the Market

This is going to sound a little bit like a broken record if you have read recent updates. On a side note, do younger generations use the idiom sounds like a broken record? For buyers, this is a less competitive market. There is also a growing number of motivated sellers. This can mean more negotiating power than the crazy seller’s market of a few years ago.

However, seller motivation varies widely. Some sellers are sticking to their guns on pricing, while others are still operating under a 2021-2022 mentality. Under these conditions, you may not be able to gauge seller temperament unless you make an offer. It is also worth saying that while conditions are more favorable for buyers, this is not 2009. While prices may be softening in parts of the market, they are not collapsing.

Market conditions also vary by community and price point. Buyers shopping in parts of the real estate market with a glut of inventory will have more leverage than those in areas where inventory is balanced.

Sellers, you can read between the lines of my message to buyers. There are fewer buyers out there, and it is essential to position your home or condo effectively to stand out from the competition.

That starts with preparing your home for the market. If you have the means to address deferred maintenance projects, it would be in your interest to do so. Affordability remains a challenge, and fewer buyers have the means or willingness to address projects. If you don’t have the means to address deferred maintenance, you must account for any necessary improvements in your pricing.

Pricing your home correctly is crucial in this market, especially if you want or need to sell quickly. Buyers who overprice just aren’t getting as many showings. It is essential to examine recent sales and activity with current listings when determining your go-to-market pricing. Once you go to market, it is worth paying attention to market feedback. If you aren’t getting many showings, you may need to adjust your price. This is particularly important in parts of the market where prices are softening.

A Beautiful Maui Property for Your Perusal Before Pressing on to the Numbers

Our office’s new listing in Spreckelsville is a treat for the eyes. Check out the 43 Nonohe Listing page for more photos and details on this special property.

October 2025 Market Activity

New Listings

The number of new home listings in October was the highest since 2021. While it was 10% higher than last year, it was still 24% below the October average between 2017 and 2019. The number of new condo listings in October was also the highest since 2021. There were 11.7% more listings than in October last year, but this was still 23.1% below the average number of new condo listings in October between 2017 and 2019.

New Pending Sales

The number of homes that went under contract on Maui in October was one fewer than last year. However, it was 36.1% below the October average between 2017 and 2019. The number of condos that went under contract in October increased by 8.9% over the same month last year, but it was still 51.2% below the average for October between 2017 and 2019.

Closed Transactions

The number of homes sold in October increased by 24.4% compared to the same month last year. While that was a notable increase, it is worth noting that this October’s sales were still 36.5% below the average for October between 2017 and 2019. Condo sales were 4.9% below last October and 56.4% below the October average between 2017 and 2019.

End of October Maui Home Inventory

On the last day of every month, I go into our local MLS database and download the active and pending Maui home and condo listings. I am pretty good at remembering, although it can be a little more challenging on holidays. I woke up on November 1st and cursed to myself when I realized I had forgotten, after a busy workday and mad rush home to get the house ready for trick-or-treaters.

I was able to get an accurate snapshot of the day before by filtering out any new listings from that day and adding any listings that expired on the first. The reason I wanted to mention this was because of the expired listings. Many listing contracts are set up to expire at the end of the month. That typically means inventory usually dips on the first of the month. While I am not sure it means much in terms of the market’s trajectory, I thought it would be notable for the data geeks.

Notable Numbers About the End of October Maui Home Inventory

There were no big changes in the active home inventory between the last day of September and Halloween, with just two additional active listings. Active listings have remained steady at around 410 homes over the past few months.

Pending home sales dropped to 95, a 7.8% drop below the number of pending sales on September 30th. This is the lowest number of pending home sales since October 2023, when the market was still reeling from the aftermath of the August 2023 fires.

Examining active listings by price point, four price ranges experienced a month-to-month increase in inventory, while five decreased. The $1,000,000-$1,499,999 price range continues to see inventory growth. Inventory increased in this price range for twelve of the last thirteen months.

The number of pending sales increased in two price points, decreased in three, and remained unchanged in four. The most significant change in pending sales occurred in the $1,000,000 to $1,499,999 price range, with five fewer properties under contract than at the end of September.

Examining active listings by community, the number of active listings increased in five communities, decreased in seven, and remained unchanged in two. While Kihei saw the most significant increase in active listings from the end of September, that followed a big drop in listings between August and September. While most communities continue to experience month-to-month fluctuations, Haiku’s active listings have risen gradually since the spring, and Kula listings have increased for the third consecutive month.

Pending sales continue to fluctuate month to month at a community level. For the second consecutive month, three communities concluded the month with no pending sales. Hana has not had a pending sale at the end of the month since April. Kapalua experienced its second consecutive month with no pending sales. Pukalani was the third community with no pending sales, although there was a pending sale that closed on Halloween.

End of October Maui Condo Inventory

The number of active condo listings on October 31st was just eight fewer than last month. For the last few months, active inventory fluctuated around 800 listings.

There were 82 pending condo listings at the end of October, a nominal increase of one over last month. Although there hasn’t been a significant increase in pending sales, the end-of-month numbers for October were the highest since May.

Examining active listings by price point, the $250,000 to $499,999 price range stands out for its consistently increasing inventory. As I mentioned last month, this stems in part from new listings, limited demand, and price reductions on properties initially listed for $500,000 and above.

Examining pending listings by price point, I don’t see anything particularly notable. Most price ranges continue to experience fluctuations in activity, although a few have seen consecutive months of increased pending sales ($250,000-$ 499,999) and decreased pending sales ($500,000-$749,999).

Examining active listings by community, Lahaina has the highest number of active listings since the fire, which significantly impacted the condo developments in the community. Many of the listings are in the Lahaina Shores Condo development. Although this condo reopened earlier in the year after smoke damage remediation and repairs, it is now isolated, as many of the surrounding businesses and residences were destroyed. Ma’alaea has seen modest increases in inventory over the past few months, which have been sufficient to reach a new high for the last 13 months.

Just as the overall end-of-month pending condo sales have remained fairly consistent overall, the same can be said about pending condo sales at a community level. We are currently experiencing month-to-month fluctuations with no significant shifts in local market activity.

>> Contact The Maui Real Estate Team if you have any questions, comments, need assistance with buying or selling, or still use the idiom “sounds like a broken record.” Please let us know if there’s anything else you’d like us to cover in these posts. We welcome feedback!