South Maui Real Estate: July 13th

South Maui's real estate market is currently experiencing a slight shift. While overall sales activity for both single-family homes and condominiums remains somewhat subdued, a silver lining for certain buyers is that offers are increasingly being accepted, particularly when list prices are accurately set or have undergone strategic reductions. This willingness to negotiate on the seller's part indicates a softening in what was once a fiercely competitive market. A primary driver for this current sluggishness and uncertainty can be largely attributed to Bill 9, the proposed short-term rental (STR) bill. The ongoing debate and potential phase-out of thousands of legal short-term rental units, particularly in apartment-zoned areas of South and West Maui, has created significant apprehension among investors and property owners. This uncertainty directly impacts property values, particularly for condominiums that have historically served as vacation rentals, leading to a "wait and see" approach for many potential buyers and sellers, and consequently, a slower transactional pace.

July 13, 2025.pdf

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As always, thank you for taking the time to read these reports. Enjoy the rest of your Sunday.

Aloha,

Ken