MAUI VACATION RENTAL (TRANSIENT ACCOMMODATIONS) & SHORT TERM RENTAL UPDATE: MAY 2024

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.

Since the fire, the Hawaii State Legislature passed SB2919 on May 2, 2024.  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

WAILEA CONDOMINIUM MARKET UPDATE: Q1 2024

Wailea Resort Condominiums

Wailea Condominiums

Wailea is home to several different condominium resorts, including the Andaz, Grand Champions, Ho'olei, Kai Malu, Kanani Wailea, Keala O Wailea, Palms at Wailea, Wailea Palms, Makalii, Papali, Polo Beach Club, Wailea Beach Villas, Wailea Ekahi, Wailea Ekolu, Wailea Elua, Wailea Fairway Villas, Wailea Point, and Wailea Town Center.

Makena is home to the Makena Golf & Beach Club, Makena Surf, Na Hale O Makena

KAANAPALI CONDOMINIUM MARKET UPDATE: Q1 2024

Kaanapali Resort Condominiums

Kaanapali Condominiums

Kaanapali is home to several different condominium communities, with offerings ranging from studios to four-bedroom condominiums.  Located along Kaanapali Beach are the Kaanapali Alii and Whaler, and located on Kahekili are the Maui Kaanapali Villas, Honua Kai, Mahana and Maui Kai.  Surrounding the Golf Course, you'll find the Maui Eldorado, the Masters, Kaanapali Plantation, International Colony Club and Vintage.

Update May 15, 2024
The rates have been finalized by the county council with some changes:  Read Maui Property Tax Rates 2024-2025

Maui Property Taxes: What is proposed for this year?

Each year the county council reviews the proposed budget and sets property tax rates for the fiscal year (July 1, 2024-June 30, 2025)

This year, the Mayor of Maui County has proposed increases to the Owner Occupant Rate, Residential Rate (real property improved with a dwelling, as defined in the comprehensive zoning ordinance, that would not be classified as “owner-occupied”, “hotel and resort”, “time share”, “short-term rental”, “commercial”, “industrial” or “commercialized residential”), Short Term Rental Rate.

There are no proposed changes to the Long Term

KAPALUA MARKET UPDATE: Q1 2024

The view from Ironwoods 62, a highly upgraded ocean view residence, currently listed for sale

Kapalua Condominiums:  Q1 2024 and a historical summary of sales

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 report notes:

U.S. existing-home sales improved for the second month in a row, jumping 9.5% to a seasonally adjusted annual rate of 4.38 million units, exceeding economists’ expectations and marking the largest monthly gain in a year, according to the National Association of REALTORS®(NAR).

The rebound in home sales comes amid fluctuating mortgage rates and elevated sales prices, indicating there is plenty of buyer demand heading into the spring selling season.

New Listings increased 19.8 percent for Single Family homes and 46.5 percent for Condominium homes. Pending Sales decreased 4.3 percent for Single Family homes and 1.1 percent for

Introducing Alaeloa 44

Alaeloa is a hidden gem nestled along the picturesque coastline of Napili.  This tranquil and idyllic enclave is home to just 42 residences situated on 13 beautifully landscaped oceanfront acres.  

Alaeloa 44 is a beautifully renovated two bedroom residence with vaulted ceilings and a spacious lanai with views of the ocean and the neighboring island of Molokai.  Nestled in a mango grove, the property has the charm and feel of Old Hawaii.

Stunning Views  Stacking glass doors create a seamless living experience between the living room and lanai, with a focus on the view of the Napili  coastline and Molokai.

The kitchen is a dream beautifully remodeled to create a large kitchen island with seating for four, the

Spotlight on Launiupoko: One of West Maui's most popular neighborhoods

What is the Launiupoko Neighborhood like?

Nestled on the picturesque slopes of West Maui, Launiupoko is an enclave of large homesites with stunning views. This idyllic community is known for its sprawling acreage, stunning ocean views, and a tranquil lifestyle that blends open space with the charm of island living. The area is zoned agricultural, providing a perfect blend of natural beauty and rural living, making it one of Maui's most sought-after locations. 

In Launiupoko, you will note the presence of many CPR "Condominium Property Regime" Properties.  The CPR process allows a property owner to create a minimum of two separate condominiums (most typically a main home lot

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

The report notes:

U.S. existing-home sales grew 3.1% month-over-month to a seasonally adjusted annual rate of 4.00 million, exceeding economists’ expectations and marking the strongest sales pace since August 2023, according to the National Association of REALTORS® (NAR). Falling interest rates late last year, coupled with a recent uptick in inventory, helped existing-home sales to climb following last month’s decline, with monthly gains reported in the Midwest, South, and West regions.

New Listings increased 2.4 percent for Single Family homes and 52.1 percent for Condominium homes. Pending Sales decreased 5.1 percent for Single Family homes but

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

"U.S. existing-home sales slipped 1.0% month-over-month and were down 6.2% year-over-year as of last measure, while pending sales jumped 8.3% from the previous month, marking the largest gain since June 2020, according to the National Association of REALTORS® (NAR). Mortgage rates have dropped significantly from their peak last fall, and homebuyers are beginning to come out of the woodwork, with NAR forecasting a 13% increase in existing-home sales this year compared to 2023.

New Listings increased 41.7 percent for Single Family homes and 10.2 percent for Condominium homes. Pending Sales increased 35.6 percent for Single Family homes