South Maui Real Estate: Nov. 30th
- Ken Wong
- 4 days ago
- 2 min read
South Maui Real Estate Market Summary: Thanksgiving Week 2025
The South Maui real estate market—encompassing Kihei, Wailea, and Makena—appears to be operating in a balanced to buyer's market as of late 2025, characterized by cooling prices in the condo sector and increased inventory, giving buyers more negotiation leverage and time on the market.
Overall, the Maui County market context shows single-family homes with slightly softened median prices but stable sales volume, while the condominium market has experienced a more pronounced decline in median sales price (down significantly year-over-year in October 2025) largely due to increased supply, higher carrying costs, and uncertainty surrounding local short-term rental (STR) legislation (Bill 9).
Emphasis on New Listings: The 23 Thanksgiving Week Listings
The appearance of approximately 23 new listings in South Maui during the Thanksgiving week (November 2025) suggests that sellers continue to enter the market despite the holiday season and current market conditions. This influx of new inventory contributes to the overall trend of rising active listings, particularly for condos, which is driving the shift toward a buyer-favorable environment.
Diverse Price Range: These new listings cover a broad spectrum, from more entry-level condos in Kihei to multi-million dollar luxury estates in Wailea/Makena.
Kihei Condos: Many new listings fall into the condo category, with some units priced in the $400,000 to $900,000+ range. The heavy concentration of new condo units reflects the ongoing pressure on that market segment.
Luxury Tier: The high-end resort areas of Wailea and Makena also saw new listings, with prices soaring into the $3.7 million to over $10 million range for luxury homes and penthouses, indicating continued supply in the premium segment.
Property Variety: New listings include single-family homes, townhouses, and condos, demonstrating activity across all major property types. For instance, new listings were observed for single-family residences in Kihei and Maui Meadows, along with high-value resort condos in complexes like Wailea Beach Villas and Wailea Point.
Key Market Trends for South Maui (Kihei, Wailea, Makena):
Market Metric | Single-Family Homes (Maui County) | Condominiums (Maui County) | Implications |
Median Sales Price | $1.245 Million (Slight YoY decline) | $625,750 (Significant YoY decline) | Buyers have strong leverage, especially in the condo market. |
Days on Market (DOM) | ~138 Days (Stable) | ~140–160+ Days (Extended) | Slower sales pace than previous years; properties are sitting longer. |
Inventory / Supply | Increased (Growing) | Increased (Substantial Growth) | Higher selection for buyers; more competition for sellers. |
Market Condition | Stable/Softened | Strong Buyer's Market | Strategic pricing and presentation are critical for sellers. |
Key Takeaways:
Inventory is Up: The 23 new listings add to an already elevated inventory level in South Maui, which is a key driver of the buyer's market conditions.
Condo Market Volatility: Uncertainty and higher ownership costs, particularly regarding potential STR regulation changes and rising HOA/insurance, continue to put downward pressure on condo pricing.
Negotiation Room: Homes are, on average, selling for below their asking price, confirming that buyers have leverage to negotiate, a trend that is likely to be sustained by the consistent flow of new listings like those seen over Thanksgiving week.
Thank you for taking the time during this holiday week to read these reports. Should you have questions, please contact me. Happy Sunday everyone!
Aloha,
Ken
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