Maui Real Estate Market Overview and Buyer Statistics: 2021
Many Sellers want to know where buyers of Maui County real estate call home (in this case, their legal residence). Historically, buyers originate largely from the state of Hawaii. In total, there were just 55 sales to foreign nationals out of 3,044 in 2021, accounting for just 2% of the sales volume (number of sales) and 3% of the dollar volume ($). Buyers from the US represented 98% of the sales volume and 97% of the dollar volume.
The majority of Maui's buyers are Hawaiian residents, representing 64% of the sales volume (number of sales) and 50% of the sales volume ($). California runs second with 15% of the sales volume and 19% of the dollar volume ($). Washington follows as a distant third with 4% of the sales volume and 7% of the dollar volume ($).
There is often a misperception that the majority of our foreign buyers come from Asia. While this might be true for Oahu's market (particularly Honolulu), it hasn't been the case for Maui County, which includes the islands of Molokai and Lanai, Kauai, and the Big Island.
Each year, Title Guaranty, one of Hawaii's most reputable Title and Escrow Companies, provides us with Buyer statistics.
MAUI BUYER STATISTICS: TOP FOREIGN AND US BUYERS
In 2021, we saw a similar pattern of where Buyers of Maui real estate originate, both from abroad and the mainland US.
When looking at statewide statistics, the top five countries where buyers originate are Japan, Canada, Korea, Singapore and China. However, Canada continues to be the primary foreign feeder market for Maui Real Estate.
The feeder markets for Maui within the US are Hawaii, California, Washington, Colorado, Texas, Oregon, Arizona, Nevada, Utah, Illinois, and Massachusetts. This parallels the statewide statistics with the exception of Massachusetts, which is bested by New York.
MAUI REAL ESTATE BY AREA
When looking at our mainland markets, the largest mainland feeder markets are California, Washington and Colorado. This particularly holds true in the resort markets in West Maui (Kapalua, Kaanapali) and South Maui (Makena, Wailea, Kihei).
Please feel free to contact me any time with questions or for more detailed information on a market that interests you.
Courtney M. Brown, R(S) & Team
Island Sotheby's International Realty