The West Maui residential market has seen significant shifts over the past five years, with home prices reaching record highs despite declining sales volume. So far this year, the median sold price surged to $2.93 million, marking a 42.7% increase from 2024. However, total sales volume has declined significantly, reflecting a market constrained by both economic conditions and inventory shortages in the entry market.
West Maui Home Sales Trends (2021–2025)
A look at the historical data reveals a fascinating pattern:
| Year | Median Sold Price | MSP Growth % | Avg Sold Price | ASP Growth % | Total Sales Volume | TS Growth % | Homes Sold |
|---|---|---|---|---|---|---|---|
| 2025 | $2,925,000 | +42.7% | $3,039,583 | -1.5% | $36.47M | -6.7% | 12 |
| 2024 | $2,050,000 | -7.1% | $3,085,485 | -8.3% | $234.50M | -24.2% | 76 |
| 2023 | $2,207,500 | +22.0% | $3,363,624 | +31.9% | $309.45M | -10.1% | 92 |
| 2022 | $1,810,000 | -10.8% | $2,549,605 | -7.0% | $344.20M | -22.6% | 135 |
| 2021 | $2,030,000 | +72.8% | $2,740,367 | +36.9% | $444.61M | +34.6% | 238 |
Key Takeaways from Winter 2025’s West Maui Residential Market
1. Home Prices Have Reached Record Highs
- The median sold price skyrocketed to $2.93M, an increase of 42.7% from 2024.
- While average sold prices dipped slightly (-1.5%), the upward trajectory in median pricing suggests strong demand for higher-end properties.
2. Sales Volume Has Declined Sharply
- Only 12 homes sold so far in 2025, another significant drop (-5.3%) from an already declining market that has seen massive declines in the past 3 consecutive years.
- The total dollar volume of sales fell 6.7% from 2024, continuing the downward trend from previous years.
3. Homes Are Taking Longer to Sell
- Days on market (DOM) increased to 141 in 2025, up from 134 in 2024, signaling a shift toward a slower-moving luxury market. And this was even cushioned by from faster moving sales generated by immediate post fire demand in 2024.
- In contrast, homes sold in just 122 days in 2022, showing how conditions have tightened in recent years.
4. Long-Term Trends Show a Market in Transition
- The market peaked in 2021, with 238 homes sold and total sales of $444.6M—the highest in recent history.
- Since then, sales volume has consistently declined, reflecting economic uncertainty, rising mortgage rates, and a supply-constrained market.
What’s Driving These Market Trends?
1. Limited Inventory in the Entry Market
In West Maui, entry price currently means anything under $2M. With fewer homes on the market under $2M, local buyers are competing for very limited inventory, which is driving up prices despite fewer overall transactions.
2. Interest Rate Sensitivity
Higher borrowing costs have pushed some potential buyers out of the market, particularly in the entry/mid-tier home segment.
3. Luxury Demand Remains Strong
Despite overall market contraction, demand for newer and/or modern high-end properties in West Maui remains resilient, contributing to rising median prices.
What’s Next for Buyers and Sellers?
For Buyers:
- For the immediate near future, expect to pay a premium. With prices at record highs, securing a home in West Maui will require competitive offers.
- Limited inventory means fewer choices. Buyers may need to act quickly when a desirable home becomes available.
- Higher mortgage rates are absolutely impacting affordability. Staying informed on rate trends will be crucial for financing strategies.
For Sellers:
- While it may appear fewer homes are on the market, this is only evident in the entry market. There is an abundance of available inventory in the $3M+ luxury category.
- Longer days on market. Even in a high-priced environment, homes are taking longer to sell, so patience is key.
- Luxury demand remains strong. Well-positioned, newer, more modern high-end homes continue to attract serious buyers.
Final Thoughts
The West Maui real estate market is at a turning point—while home prices are soaring, the number of transactions is shrinking. This shift suggests a transition to a highly selective, however inventory-abundant luxury market.
For buyers, opportunities are limited, and competition remains fierce for well-positioned properties. For sellers, pricing strategy and patience will be key in maximizing value.
As 2025 unfolds, it will be essential to watch how inventory levels, interest rates, and broader economic conditions influence the next phase of West Maui’s housing market.
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.
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