West Maui Active Home Prices Feeling Lahaina Fire Impact

I wasn’t born in a small town. And all my friends aren’t so small town. But, I lived in a small town. I’ve seen it all in small town. Had myself a ball in a small town. And that’s probably where they’ll bury me.

To my Lahaina Town neighbors, West Maui community & many friends that I do not regularly see anymore. I miss the mornings, afternoons and evenings. The seconds, minutes and hours spent. It was the very best life. Sending all love, strength & resilience. Everyone loves a comeback.

If you were driving, riding or walking the South end of Front Street during the morning or evening, there is a good chance you’ve run into us.

With that said, and whether my physical presence is on Maui, or in Montana or in Florida (yeah, that’s how it’s been) my healing needs normality in my daily real estate profession again. I/We need to get back to being okay with enthusiastically having a regular voice/opinion in this industry and sharing with my West Maui community. I know what’s happened. I was there on Aug 8th, from start to finish. 

While the 13 mile stretch of West Maui has been my work & playground for 23 years, the 1.5 mile bubble of Lahaina Town fed my soul. I was/am proud to call it my neighborhood and my community. My personal life, my business all revolved around Town. SO, to even talk about real estate in such an environment has been very difficult and has been very sensitive to me (yes even as a real estate broker). It’s been hard to live normal let alone work normal. Before I was Hawaii Life Jeff, I have always been Lahaina Life Jeff.

However, the subject is not taboo, it’s real. And we need the real, not the speculation. I believe the community needs to see the West Maui real estate market through a different lens than just the marketing postcards, general media and property searches of Zillow, Redfin and Realtor.com.

Listings and sales transactions are happening. So should engagement.

I am sharing information and value, not marketing and sales pitches (or politics).

So for those that want some insight into the West Maui single-family home market and what impact the Lahaina Town fires have had on the surrounding areas home sales prices, days on market, volume and what the active and available market looks like please read the article below, and follow future editions. Aloha – Jeff

Artwork by Lahaina Artist Jim Kingwell

As it is my commitment to keeping the local community informed, I am pleased to share with you the most recent West Maui home, land, and condo sales report(s) and commentary for your review — covering Kaanapali, Kapalua, Lahaina, and Launiupoko. You’ll find real estate sales volume, days on market, list versus sold price, price per square foot, and more.

2024 West Maui Single Family Home Sales Headlines

For further details on any of the statements below, please refer to the included sales report(s).

2024 SOLD PROPERTIES | Single Family Residential (1/1/24 thru 5/15/24)

• 27 Sales
• $2.2M Avg Sales Price
• 127 avg days on market 
• 0 sales > $5M
• 4 sales for > $3.5M
• Single Family Residential made up 17.5% of WM sales

The Active Home Market in West Maui

Hands down the active home market should steal several dinner table conversations over the next month and into the summer. Even as we hear about higher interest rates, it has not slowed Seller’s expectations. From a pricing standpoint, I believe West Maui has entered uncharted territory as the numbers on home sale prices will snap your head faster than a (insert your preference)…

MAY 15, 2024 ACTIVELY LISTED | Single Family Residential (SFR)

• 63 homes actively listed
• 45 listed > $3.5M (4 years of inventory)
• $6.5M average list price
• 128 avg days on market

Compare West Maui to Other Maui Real Estate Markets

Here are the current average home sale prices other Maui areas. The lack of inventory combined with demand has created this “BUMP FACTOR” in list pricing.

–South Maui: 65 Active | $5.4M  Avg List Price 

–Central Maui: 29 Active | $1.66M Avg List Price 

–UpCountry: 41 Active | $$3.3M Avg List Price 

In the past I would generally never comment or write on the “active market” as it’s all speculation, crystal ball shit…and in my opinion doesn’t really represent the market like actual sales do.

However, when you look at what’s “available” in the active market and what is actually moving as represented in this year’s sales you’ll see that there is major disparity, a complete contrast between the environment of the “ask” and what the current sales market is turning out. The market is moving at around $2M, yet there are only a few listed in this price range. There have been 0 sales over $5M in 2024, but there are 30 properties currently listed for sale priced at $5M+.

The good news for those looking is that there are an abundance of luxury residential offerings for sale currently West Maui, possibly deals to be had. The other parts of the island are feeling this West Maui bump factor as well. South Maui had a 2023 average sales price of $2.4M, but now the average list is $5.4M. We will keep a watch on this.

Absorption Rate for Single-Family Homes on Maui

Absorption Rate = The rate at which available homes are sold in a specific market over a specific time. This figure shows how long it will take to exhaust the current inventory supply. In this month’s update, there are 63 active homes listed in West Maui and 84 sold in the past 12 months.

• West Maui Single Family Residential | 9 months of inventory
• West Maui SFR Lux $5M+ | 25 months of inventory

Want to Know More?

If you are in the market for buying or selling West Maui real estate or have any questions about the area or the market in general, please feel free to contact me. I welcome the opportunity to give you information on my previous sales performance and marketing strategies. Or if you’re curious about what your property is worth in today’s market, it would be my pleasure to provide you with property information and a value assessments.