MAUI VACATION RENTAL (TRANSIENT ACCOMMODATIONS) & SHORT TERM RENTAL UPDATE: February, 2025

Maui, like many places around the US that are popular vacation destinations, has grappled with affordable housing and workforce housing for decades. The wildfire that swept through Lahaina town on August 8, 2023 has highlighted the critical need for affordable housing in Maui County.  

On May 4, 2024, the Hawaii State Legislature passed SB2919 and it was signed into law by Governor Josh Green on May 4, 2024. 

Per the governor's website,  "By addressing the issue of illegal short-term rentals, SB 2919 aims to alleviate Hawaiʻi’s housing crisis and increase housing levels throughout the state. This bill provides counties with home rule authority to see that

KAPALUA REAL ESTATE MARKET: 2024 IN REVIEW

The view from Kapalua Bay Villa 23B3, an oceanfront residence, currently listed for sale

Kapalua Condominiums:  A five year sales history

The Kapalua Resort is home to several different condominium communities, with offerings ranging from one to four-bedroom condominiums.  The Kapalua Bay Villas, Kapalua Ironwoods, The Coconut Grove on Kapalua Bay, the Montage Residences Kapalua Bay and the Ritz-Carlton Kapalua Residences are all oceanfront properties nestled along the Kapalua Resort's spectacular shoreline.  The Kapalua Ridge Villas and Kapalua Golf Villas both are located on the Kapalua Bay Course with ocean and golf course views. 

Kapalua Resort Condo Market*

Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market. 

The Maui Real Estate Report for the first month of 2025 notes:

U.S. existing-home sales advanced for the third straight month, climbing 2.2% to a seasonally adjusted annual rate of 4.24 million units, a 10-month high, according to the National Association of REALTORS® (NAR). Sales were up 9.3% year-over-year, driven largely by purchases of homes priced $500,000 and above. Month-over-month, sales rose in the South, Northeast, and the West but fell in the Midwest, with all four regions reporting year-over-year gains.

New Listings decreased 6.4 percent for Single Family homes but increased 8.6 percent for Condominium homes. Pending Sales decreased

Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market. 

The Year End MAUI Real Estate Statistics for 2024 report notes:

U.S. existing-home sales improved for the second consecutive month, rising 4.8% to a seasonally adjusted annual rate of 4.15 million units, an eight-month high, according to the National Association of REALTORS® (NAR). Sales were up 6.1% compared to the same time last year, marking the largest year-over-year increase since June 2021. Economists had forecast existing-home sales would come in at an annual rate of 4.07 million units for the month.

New Listings increased 13.4 percent for Single Family homes but decreased 7.7 percent for Condominium homes. Pending Sales decreased 32.8

Masters at Kaanapali Hillside: Residence 1004

The Masters at Kaanapali Hillside has long been one of Kaanapali's most desirable condominium communities.  Nestled along the Royal Kaanapali golf course, the low-density development is comprised of 200 one, two and three-bedroom residences on close to 38 acres.

Building 10 is perched overlooking the Royal Kaanapali golf course, and enjoys one of the best view locations at the property.  The unique vantage point overlooks the Kaanapali Resort and extends far to the North, with Molokai featured prominently.

The owners of Masters 1004 have made thoughtful additions to the interior, creating a relaxed and comfortable space.  The second-floor location features few stairs to enter, and vaulted

Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market. 

The October MAUI Real Estate Statistics report notes:

U.S. existing-home sales unexpectedly slipped 1.0% month-over-month and 3.5% year-over-year to a seasonally adjusted annual rate of 3.84 million, the lowest level in more than a decade, according to the National Association of REATORS® (NAR). Prospective buyers have pulled back in recent months, despite lower mortgage rates and more home choices compared to the same time last year.

New Listings decreased 4.8 percent for Single Family homes but increased 13.0 percent for Condominium homes. Pending Sales increased 24.0 percent for Single Family homes and 3.1 percent for Condominium homes.

Market Spotlight: Kapalua Ironwoods #62

Beautifully Remodeled Ocean View Condominium Residence for Sale

An aerial view of the Ironwoods, overlooking Kapalua Bay Course and Oneloa Bay to the South

The Ironwoods is a small gated community comprised of just 10 buildings, each with four residences (in building 9, the two top floor residences were combined to make one larger residence).  Each residence has a detached garage, a rarity for oceanfront condominiums on Maui.

Amenities at the gated Ironwoods community include a fitness center, recreation room, solar heated swimming pool and spa, as well as tennis courts and an onsite resident manager.  

Ironwoods 62 Upgrades and Finishes

Incomparable and casually elegant, this stylish and spacious

Each month, the Realtor's Association of Maui publishes updates on the Maui real estate market. 

The report notes:

U.S. existing-home sales fell for the second month in a row, sliding 1.9% month-over-month and 1.9% year-over-year, according to the National Association of REALTORS® (NAR), with sales down in all four regions of the country. Higher borrowing costs and accelerating home prices continue to weigh on demand, pushing some prospective buyers to the sidelines and causing market activity to slump ahead of summer.

New Listings decreased 4.3 percent for Single Family homes but increased 101.9 percent for Condominium homes. Pending Sales decreased 18.3 percent for Single Family homes and 34.6 percent for Condominium homes. Inventory increased

Introducing Kapalua Bay Villa 37B2-4, Kapalua Resort, Maui

Where are the Kapalua Bay Villas located?

Situated along the dramatic West Maui coastline, you'll find the Kapalua Bay Villas.

The Kapalua Bay Villas has long been one of the Kapalua Resort’s favorite condominium communities. Consisting of 141 residences in 27 buildings, the Bay Villas are situated on 16.5 oceanfront acres in the heart of the Kapalua Resort.

Built in 1977, the floorplans include spacious single-level living as well as townhouse-style one and two bedroom residences. The oceanfront and ocean view villas overlook the Pacific ocean and the Kapalua coastline, with direct beach access to Oneloa Bay.  Amenities in this gated community include 3 swimming pools and two

Maui Property Taxes Fiscal Year July 1, 2024-June 30, 2025
Changes: Classifications & Rates

Each year, Maui County does two things: assesses the value of the property AND sets new rates for the upcoming fiscal year, which runs from July 1st-June 30th.  The Maui County Council has proposed the rates below for 2024-2025 as well as a summary of how they've changed over the years.

Maui County Property Tax Rates 2024 vs Prior Years

Rates are per $1000 of assessed value.  In 2020, the County introduced a new Tiered assessment.  Prior to that, there was a flat rate per the classification.