The Realtors Association of Maui just released April 2026 data, and the numbers tell a pretty clear story: this is a buyer's market. Single-family home closings dropped 30% year-over-year, prices are softening, and inventory is still climbing. On the condo side, things actually moved in a more positive direction. Here's the full breakdown — no spin, just the real picture.

The Headline Numbers: April 2026

The RAM data for April is now official. Here's what the market delivered:

• Single-family median price: $1,290,000 — down 6.4% from $1,377,500 in April 2025
• Single-family closings: 49 — down 30% from 70 closings in April 2025
• SFH days on market: 107 days — up 23% year-over-year
• Condo median price: $651,250 — down 8.9% from $715,000 in April 2025
• Condo closings: 70 — up 4.5% from 67 in April 2025
• Condo days on market: 128 days — up 22% year-over-year

The contrast between single-family and condo performance is the most interesting part of this month's data. While SFH sales cratered, condos actually gained ground in volume — even as prices continued to soften across the board.

What's Driving the SFH Slowdown?

Thirty percent fewer homes closing month-over-month isn't a blip — it reflects a few compounding pressures:

• Affordability ceiling. Even with a 6.4% price drop, a $1.29M median is still a significant commitment. With jumbo rates hovering around 6.6%, monthly carrying costs remain high for many buyers.
• Seller price expectations. A lot of sellers are still anchored to 2023–2024 peak comps. Properties priced at peak are sitting — sometimes 6 months or longer. Well-priced homes are still moving.
• Insurance and taxes. Maui property insurance has risen sharply post-Lahaina fires, and the 2025–2026 property tax rates — especially for non-owner-occupied tiers — have pushed some investors to the sidelines.

Why Condos Are Holding Volume (Even as Prices Drop)

The condo market tells a different story. Volume is actually up 4.5% — buyers are moving on condos even though median prices fell nearly 9%. Here's why that makes sense:

• Entry price point. At a $651K median, condos remain more accessible to a broader buyer pool than single-family homes.
• Bill 9 reality check. Some Minatoya-list condo sellers who were holding for top dollar are now accepting market-rate offers, knowing the STR phase-out clock is ticking. That's creating motivated sellers and softer prices — which draws buyers in.
• Long-term rental appeal. With Maui rents still elevated, buyers are finding the long-term rental yield math more attractive at $651K than it was at $715K.

Neighborhood Snapshot: Where the Action Is

Not all of Maui is moving the same way. Here's how the key areas are shaping up through April:

Haiku / Pa'ia (North Shore)

My home turf continues to be one of the more resilient pockets on the island. North Shore properties with privacy, land, and character are attracting buyers who want authenticity over amenities. Median prices here are actually holding slightly positive YoY at around $1.5M. The lifestyle premium is real and durable.

Wailea / South Maui

The luxury end of Wailea — oceanfront estates and resort-adjacent condos — is still attracting serious buyers. The negotiating gap has widened to 3–7% below asking on condos that have been on market 90+ days. Buyers who are ready to move are finding good deals. Sellers who price right are still closing.

Kihei Condos

This is where the Bill 9 pressure is most visible. Minatoya-list complexes are seeing the steepest price reductions as STR uncertainty weighs on value. Non-Minatoya-list complexes — hotel-zoned and owner-occupied — are holding up considerably better. Know your zoning before you buy.

West Maui (Kapalua / Lāhainā)

West Maui is slowly returning. Rebuilding activity in Lāhainā has brought some renewed buyer interest, and Kapalua luxury properties continue to attract long-term buyers who want the best of West Maui without the uncertainty. Inventory is thin, which is actually supporting prices in this pocket.

For Buyers: This Is the Window

I've been in this market for decades, and right now is genuinely one of the more favorable buying environments I've seen since 2019. Here's why:

• Inventory is at multi-year highs — you have real choice
• Sellers are open to negotiation on price, credits, and closing costs
• Days on market are long — you have time to do proper due diligence
• Motivated sellers are emerging, especially in the condo segment

The caveat: the right properties still move. Well-priced, well-maintained homes in desirable locations — North Shore, Wailea, West Maui luxury — are not sitting for 128 days. You still need to be ready to act when the right one shows up.

For Sellers: Price Is Everything Right Now

If you're thinking about selling, the most important thing I can tell you is this: the market will find the right price whether you lead with it or not. Properties that come in at fair market value are moving. Properties priced to peak 2024 comps are sitting and eventually price-reducing anyway — often to a lower number than if they'd priced it right on day one.

My team has been consistently selling at or above list for well-priced properties. Strategic pricing, drone photography, and targeted marketing still deliver results. But you have to start with the right number.

FAQ

Is Maui real estate crashing in 2026?

No. Prices are softening — SFH down 6.4%, condos down 8.9% YoY as of April — but that's a correction from pandemic-era peaks, not a crash. Maui's land constraints, strong long-term demand, and limited new supply mean this is a recalibration, not a collapse.

Are Maui home prices going to keep dropping?

Short-term pressure will likely persist through mid-2026 as inventory digests and interest rates stay elevated. But Maui's fundamentals — scarcity, desirability, global demand — support prices long-term.

What's the best area to buy on Maui in 2026?

It depends on your goals. For lifestyle and land, the North Shore (Haiku, Pa'ia) remains a compelling long-term hold. For condo value with long-term rental potential, Kihei non-Minatoya properties offer attractive entry pricing. For luxury with appreciation upside, West Maui and Wailea continue to attract high-net-worth buyers.

How do I find active Maui listings?

Until I get my direct IDX feed live (coming very soon), you can browse all active Maui MLS listings through Villa Group's property search →. Or just call me at 808-343-1721 and I'll send you exactly what fits your criteria directly from the MLS.

We just came through a wild stretch of weather. Those back-to-back Kona storms in March dumped some of the heaviest rain we've seen in years — Upcountry caught over 40 inches in spots, and Puʻu Kukui out West nearly hit 30. For a few weeks it was all red mud and saturated ground. But the trades are back, the sun's poking through, and we're finally on the other side of it.

Funny thing is, the fog lifting off the mountains kind of mirrors what's happening in our real estate market right now. The picture is getting a lot clearer — and if you've been waiting on the sidelines, you'll want to read this.

The New Reality in the Maui Housing Market

The days of the frenzy are officially behind us. We've moved into a balanced-to-buyer-leaning market — one defined by strategy instead of speed. Here's what the last 60 days are actually showing:

• Median prices are cooling. For the first time in a while we're seeing a year-over-year dip. The median single-family home price on Maui fell roughly 10–12%, landing around $1,250,000.
• Buyers are taking their time. Median days on market has climbed to 156–164 days. If a home isn't priced right or has deferred maintenance, it sits. Plain and simple.
• Inventory is building. We're sitting on nearly an 8-month supply of single-family homes and over 15 months for condos. That hands buyers real leverage — to negotiate repairs, credits, or straight price reductions.

Hyper-Local Highlights

Haʻiku & the North Shore

Even in a slower market, Haʻiku stays a target for people chasing space and privacy — it's a special pocket of the island and always will be. But buyers here are sharp on comparable sales. Recent closings have come in anywhere from 4% to 12% below asking, which tells you aspirational pricing isn't flying anymore. That said, if it's a true home-run property, sellers can still aim high and get it.

Kaʻanapali & West Maui

The luxury segment out West is resilient but analytical. Buyers have moved away from speculative flips and toward high-quality, turnkey legacy properties — the kind you hold, not flip. Interest is still strong in areas like Lanikeha, but the closing process is taking longer as due diligence gets more thorough.

The Takeaway

The cost of holding is the big conversation right now, especially with the 2025–2026 property tax assessments landing in mailboxes. Between rising insurance premiums and higher tax tiers on non-owner-occupied properties, a lot of owners are sitting down and asking whether it's time to move their equity into a different asset.

The silver lining? For buyers who've been waiting years, this is the most negotiable market we've seen since 2019. Sellers are open to conversations about rate buydowns and closing-cost credits that were unthinkable two years ago.

FAQ

Is now a good time to buy a home on Maui?

If you've been waiting for negotiating room, yes — inventory is up, days on market are long, and sellers are far more flexible than they were a year or two ago. The right move always depends on your situation, but the leverage has shifted toward buyers.

Are Maui home prices going down in 2026?

Median single-family prices have dipped roughly 10–12% year-over-year as of spring 2026, landing near $1.25M. It's a cooling, not a crash — well-priced, well-maintained homes still move.

How long are Maui homes taking to sell?

Median days on market is running 156–164 days for single-family homes. Overpriced or deferred-maintenance listings sit much longer.

Aloha from the Valley Isle. There's a rainy-day stillness here today, the kind that makes you slow down and actually look at where the luxury market is heading. While most of the headlines are stuck on condo regulations and interest rates, Maui's luxury segment is quietly charting its own course — and I'm seeing some subtle but real shifts in how buyers and sellers are moving.

Here are four trends shaping Maui luxury real estate right now that deserve your attention.

1. The West Maui Refinement

The aggressive bidding wars in West Maui's luxury market are gone. What's replaced them is something I call selective confidence. In Kapalua and Kaʻanapali, buyers are deliberate — they're focused on privacy and build quality, not rushing to outbid the next person.

• Buyers are prioritizing homes that offer real seclusion and thoughtful design.
• There's a growing appreciation for craftsmanship and durable materials — the stuff that holds up to salt air and time.
• Sellers who lead with those qualities are attracting serious offers without the frenzy.

A recent Kapalua listing leaned into custom woodwork and soundproofing and drew buyers who wanted a genuine quiet retreat over flashy amenities. That's a maturing market — quality over quantity.

2. Launiupoko: The Modern Frontier

Launiupoko has become the go-to for luxury new builds. It's the island's engine for modern, sleek estates that blend contemporary architecture with those sweeping West Maui mountain and ocean views.

• Buyers who want brand-new craftsmanship without a long build wait are landing here.
• The homes tend to feature open floor plans, big glass walls, and eco-friendly materials.
• It's a fresh take on island luxury — nature and modern design in the same breath.

3. The Kula Sanctuary Scarcity

Upcountry, and Kula especially, stays a hidden gem for anyone after a private luxury sanctuary. Crisp air, bi-coastal views, and a timelessness that appeals to legacy buyers who are choosing a lifestyle, not chasing a trend.

• The market moves slower up here — by design. It reflects a way of life.
• Properties often come with large lots, mature landscaping, and serious privacy.
• Kula has proven resilient as an asset class, holding value even when other segments wobble.

4. The Wailea / Kihei Negotiation Gap

South Maui is showing a new dynamic: a widening gap between asking and sales prices, running 3% to 7%. That's a shift from a wait-and-see mindset to a negotiate-and-secure one.

• Buyers have more room to negotiate, especially on listings that have lingered.
• Sellers need to price realistically and stay open to offers to close.
• The market's balancing out after a long run of fast price growth.

One Wailea condo that started at $2.5M recently closed at $2.35M after a few weeks on market. That gap rewards buyers who are ready to act decisively.

FAQ

Is Maui luxury real estate still a good investment in 2026?

Yes — but the game has changed from speculation to substance. Buyers are rewarding quality, privacy, and turnkey condition. Well-built homes in Kapalua, Launiupoko, and Kula continue to hold value.

Where are the best luxury neighborhoods on Maui?

It depends on your style: West Maui (Kapalua, Kaʻanapali) for refined oceanfront living, Launiupoko for modern new builds, Kula for upcountry privacy and views, and Wailea for resort-caliber South Maui condos.

Maui's luxury market is evolving. Buyers are more discerning, the market is balancing, and new areas are stepping into the spotlight. Substance and serenity are outshining spectacle — and honestly, that's always been the real Maui.

In late 2025, Maui County passed Bill 9 — a major new law that could reshape the future of thousands of short-term rental properties across the island. Since then, the first lawsuit has been filed against the County, and owners and buyers keep asking me the same question: what does this actually mean right now?

Let me break it down clean and simple.

What Is the Minatoya List?

The Minatoya List refers to condo properties that are zoned for apartment use but have been legally allowed to operate as short-term rentals for decades — going back to a long-standing county legal interpretation from the early 2000s.

Because of that, a lot of owners bought these units specifically for vacation-rental use, often paying higher prices based on that income potential.

What Does Bill 9 Do?

Bill 9 changes that long-standing policy. Under the new law:

• Short-term rental use for Minatoya List properties in West Maui is scheduled to end on January 1, 2029.
• Short-term rental use for the rest of Maui County is scheduled to end on January 1, 2031.

The County's goal is to move these units back into the long-term housing pool to help address Maui's housing shortage — something that got a lot more urgent after the 2023 Lahaina wildfires.

The First Lawsuit Has Been Filed

As expected, Bill 9 is now being challenged in court. In December 2025, owners of units at Kāʻanapali Royal filed the first lawsuit against Maui County. The suit argues that Bill 9:

• Is wrongful, oppressive, and unreasonable as applied to their property rights.
• Removes a legally relied-upon right to operate short-term rentals that existed for decades under county practice.
• Denies them viable economic use of their property — rising to the level of an unconstitutional regulatory taking without just compensation, which is prohibited under both the Hawaiʻi and U.S. Constitutions.

In short: they argue that because these units operated as short-term rentals for nearly 45 years under longstanding county practice, eliminating that use now amounts to an improper taking. The plaintiffs are asking the court to block enforcement while the case is reviewed. More lawsuits are expected, and some may seek class-action status for all Minatoya List owners.

What This Means Right Now

• Bill 9 is law — but it's being actively challenged.
• The phase-out dates are still several years out.
• Court rulings could delay, change, or overturn parts of the law.

For buyers and sellers, uncertainty is the biggest factor. Pricing, demand, and financing for Minatoya List properties may keep shifting as the legal challenges move forward.

Why This Shouldn't Scare Buyers

Here's the part that gets lost in the headlines: not all short-term rentals on Maui are affected. Hotel-zoned properties aren't part of Bill 9, and roughly 50% of currently permitted short-term rentals across Maui aren't even on the Minatoya List. There are still plenty of legal, stable options for buyers who want vacation-rental use without the uncertainty.

For informed buyers, this moment can actually be an opportunity. Uncertainty tends to bring softer pricing, motivated sellers, and less competition — especially for well-located properties that fall outside the Bill 9 phase-out.

And honestly? Buying on Maui has always been about more than the numbers. When you buy a home here, you're buying a way of life — the beaches, the outdoor living, the community, the rhythm of island living. We always aim for strong financial fundamentals, but lifestyle value matters just as much.

FAQ

Is Bill 9 final, or can it still change?

It's law as of late 2025, but it's being challenged in court starting with the Kāʻanapali Royal lawsuit filed in December 2025. Rulings could delay or alter how and when it's enforced.

When do Maui short-term rentals on the Minatoya List have to stop?

As written: West Maui by January 1, 2029, and the rest of Maui County by January 1, 2031 — pending the outcome of legal challenges.

Are all Maui vacation rentals affected by Bill 9?

No. Hotel-zoned properties are exempt, and about half of permitted short-term rentals aren't on the Minatoya List at all.

A recent National Association of Realtors survey points to a growing divide in the housing market — one that's reshaping how both first-time and repeat buyers move through today's landscape. Here's what's happening nationally, how it connects to Maui, and why knowing your local market makes all the difference.

The National Trends Shaping the Market

• First-time buyers made up just 21% of all buyers this past year — the lowest share since records began in 1981.
• The median age of first-time buyers has reached 40, showing how long it now takes many people to get in.
• Cash purchases remain historically high at 26% of all transactions.
• Homeowners are holding longer — a median of 11 years before selling.
• Repeat buyers are leaning on built-up equity, while first-timers rely more on savings.

What It Means for Buyers

For first-time buyers, the path can feel steep. Limited inventory, higher prices, and more cash buyers make for real competition. But it's not impossible — there are opportunities for people who plan ahead, get prequalified, and stay informed.

For repeat buyers and investors, the current market often works in your favor. Equity, cash flexibility, and prior ownership experience are a strong edge in a fast-moving environment.

How This Applies to Maui

Here on Maui, the market mirrors these national patterns — but with local twists. From the North Shore to Upcountry, South to West Maui, every region has its own character, price point, and value potential.

• First-time buyers can still find great opportunities when they're prepared and working with the right local guidance.
• Sellers benefit from strategic marketing and pricing, especially in high-demand areas like Wailea and Kaʻanapali.
• Repeat buyers and investors continue to lead in the cash and second-home markets — but selective, informed buying still yields strong returns.

A Positive Outlook

Today's market has challenges, but it's far from discouraging. Inventory is slowly shifting, rates are stabilizing, and motivated buyers who understand the process can absolutely succeed. Opportunity is there for people willing to take the first step — and that starts with education.

Working with the right lender to get prequalified is key. It's free, and it tells you exactly where you stand before you start your search. A lot of first-time buyers don't realize how straightforward that first step really is.

I remember being in that same spot once — unsure how to begin or what I could actually afford. Once I went through prequalification, it wasn't nearly as intimidating as I'd built it up to be. That one step opened the door to real opportunities, and I often wish I'd done it sooner.

Professional Guidance Makes the Difference

Whether you're buying your first home or selling a luxury condo, working with an agent who actually understands Maui's micro-markets — from the pockets of value Upcountry and on the North Shore to the luxury inventory in South and West Maui — matters. With trends shifting, guidance from someone who knows both the data and the island helps you make smart, confident decisions.

FAQ

Can first-time buyers still afford a home on Maui?

It's challenging but doable. The key is preparation — getting prequalified early, understanding which neighborhoods fit your budget, and working with local guidance to spot the right opportunities.

What's the first step to buying a home on Maui?

Get prequalified with a trusted lender. It's free, it clarifies your budget, and it puts you in a stronger position when the right property comes up.

There's been a lot of buzz around Bill 9 — the county proposal that could phase out short-term rentals in apartment-zoned complexes across Maui. It's been one of the biggest ongoing conversations in local real estate, and the discussion shifted again in recent weeks.

Here's a quick breakdown of what's happening, what the proposed exemption list means, and where things might go from here.

A Quick Recap

Bill 9 was introduced to limit short-term rentals in apartment-zoned properties, with the goal of returning more housing to full-time residents. The original proposal would have impacted thousands of condos currently used as vacation rentals across the island.

The New Developments

A Temporary Investigative Group (TIG) recently released updated recommendations — including a potential exemption list: a group of apartment-zoned complexes that might be allowed to keep operating as short-term rentals.

There's also talk of creating new "hotel" zoning (sometimes called H-3 or H-4) for certain properties on that exemption list. If that moves forward, some complexes could be reclassified to allow short-term rental use permanently under the new zone type.

That's a big deal, because it means not every apartment-zoned complex would be affected the same way.

What It Means for Owners

If your property lands on the exemption list, your complex may be able to continue short-term rentals — but nothing's official until the County finalizes the bill and zoning updates.

If your property isn't on the list, short-term rental use could be phased out over a multi-year period. That would mean transitioning to long-term rental use, selling, or exploring rezoning options where available.

Either way, this is a good moment for owners to understand exactly where their property stands and start planning ahead.

What It Means for Buyers

For buyers eyeing Maui condos — especially in Kihei and Wailea — this adds another layer to weigh. Complexes that land on the exemption list could keep seeing strong demand from vacation-rental buyers, while others may shift toward resident or long-term rental use.

In other words, it's shaping the market in real time. Expect the price and demand gap between "exempt" and "non-exempt" properties to widen as things get clearer.

What Happens Next

1. The Housing & Land Use Committee reviews the TIG's recommendations.
2. It heads to the full County Council for a vote.
3. Then to the Mayor for approval or veto — and given how vocal he's been on this, odds are he'd approve it if it reaches his desk.

If it passes, the County will roll out timelines and enforcement procedures, likely with transition periods built in.

FAQ

What is the Bill 9 exemption list?

It's a proposed group of apartment-zoned complexes that may be allowed to continue short-term rental operation — potentially through new hotel-style zoning (H-3/H-4). It wasn't finalized at the time of this update.

How do I know if my condo is affected by Bill 9?

Start with your zoning and whether your complex appears on the Minatoya List or any proposed exemption list. If you're not sure, reach out and I'll help you check where your specific property stands.

If you own property on Maui — or you're thinking about buying — you'll want to understand the county's property tax rates. These apply for the fiscal year July 1, 2025 through June 30, 2026, and they vary a lot depending on whether your property is your primary home, a rental, or an investment.

Here's a straightforward guide to make sense of it.

How Property Taxes Work on Maui

Taxes are based on your property's assessed value and its classification (how the property is used). The county charges a rate per $1,000 of value, but the easiest way to think about it is as a percentage of your property's value.

Owner-Occupied Homes (Primary Residence)

If this is your full-time home, you get the lowest rates:

• Up to $1.3M → 0.165%
• $1.3M–$4.5M → 0.18%
• Over $4.5M → 0.575%

Example: a $1M primary home runs about $1,650 a year.

Non-Owner-Occupied Homes (Second Homes, Investments)

• Up to $1M → 0.587%
• $1M–$3M → 0.86%
• Over $3M → 1.7%

Example: a $1M second home runs about $5,870 a year.

Short-Term Rentals (Vacation Rentals)

Vacation rentals like Airbnb or VRBO are among the highest-taxed properties:

• Up to $1M → 1.25%
• $1M–$3M → 1.4%
• Over $3M → 1.555%

Example: a $1M vacation rental runs about $12,500 a year.

Long-Term Rentals

To encourage housing, the county offers lower rates for long-term rentals:

• Up to $1.3M → 0.295%
• $1.3M–$3M → 0.5%
• Over $3M → 0.85%

Example: a $1M long-term rental runs about $2,950 a year.

Other Property Categories

• Hotel & Resort → 1.18%
• Time Share → 1.47%
• Commercial → 0.605%
• Industrial → 0.705%
• Commercial Residential → 0.2%–1.0% depending on value
• Agricultural → 0.574%
• Conservation → 0.643%
• Apartments → 0.35%

Important Tax Deadlines

• August 20, 2025 — First half of property taxes due
• December 31, 2025 — Deadline to file exemptions and ownership documents
• February 20, 2026 — Second half of property taxes due

The Bottom Line

• Primary residents get some of the lowest rates in the country.
• Second homes and short-term rentals pay significantly more.
• Long-term rentals get a tax break to support local housing.

Your property's classification makes all the difference. Double-check with Maui County to confirm you're in the right category — it can save you thousands of dollars a year.

FAQ

How much are property taxes on Maui?

It depends entirely on classification. A $1M primary home is about $1,650/year, while the same value as a short-term rental is about $12,500/year. Rates scale with both use and assessed value.

How do I lower my Maui property taxes?

Make sure your property is classified correctly — filing the owner-occupant exemption (deadline December 31) is the biggest lever for most homeowners. Long-term rental classification also carries a meaningful break.

Bill 9 is a major piece of legislation in Maui County aimed at phasing out transient vacation rentals — Airbnb, VRBO, short-term rentals — in apartment-zoned condos, specifically those on the Minatoya List. The intent is to shift these units back into the long-term housing pool to help with Maui's ongoing housing shortage, which got more critical after the 2023 Lahaina wildfires. This doesn't apply to all vacation-rental condos — just those currently zoned as apartments.

What Bill 9 Proposes

The bill aims to ease housing and condo pricing, help local workers find more available housing, and strengthen community stability. At the same time, it could reduce visitor accommodations and meaningfully impact owners' rental income — reshaping a tourism-driven economy. The whole debate centers on balancing local housing needs against the financial realities of an island that runs on tourism.

Phase-out timelines under the law:

• West Maui: short-term rental use ends by January 1, 2029.
• Rest of Maui County: ends by January 1, 2031.

Legal challenges from current owners were always likely — and as I've covered in more recent posts, they've since materialized.

The Minatoya List Explained

The Minatoya List includes roughly 7,000 apartment-zoned condos that have historically been allowed to operate as short-term rentals, thanks to a 2001 legal opinion by Deputy Corporation Counsel Richard Minatoya.

The list includes popular complexes like Wailea Ekolu, Wailea Ekahi, and Grand Champions. They're apartment-zoned — traditionally meant for long-term residential use — but have operated as vacation rentals for decades under that exemption. Bill 9 directly targets these properties by phasing out that use.

Why Zoning Matters

Zoning determines what's legally allowed on a property.

• Hotel/Resort zoning → designed for visitor accommodations. Short-term rental use is permitted and largely unaffected by Bill 9.
• Apartment zoning → intended for residential housing. Short-term rentals here were allowed under Minatoya's interpretation but are now targeted for phase-out.

For buyers and sellers, zoning is critical — it affects rental income potential, financing, property value, and resale demand.

Market Trends and Impact

Since Bill 9 was introduced, the market for apartment-zoned condos has shifted noticeably:

• Inventory is up — many owners are listing ahead of the changes.
• Sales volume is down — fewer buyers want to commit amid the uncertainty.
• Prices have softened — in some areas, median prices for apartment-zoned condos are down 10–25% year-over-year. Average sold price per square foot for Minatoya condos dropped from about $1,322 to $1,112 (roughly a 15–16% decrease), and West Maui's median condo price fell about 12% year-over-year.

That's created a buyer's market in this segment — more negotiating power for buyers, more pressure on sellers.

What This Means for Buyers

• Do your due diligence: confirm zoning, Minatoya and Bill 9 status, and any pending county actions with your agent.
• Plan for the future: don't assume short-term rental income lasts forever. Understand the difference between nightly rentals and long-term leases.
• Look for opportunity: if you're comfortable with the changes, this market offers more inventory, softer pricing, and leverage — whether you want a vacation rental or a long-term residence.

What This Means for Sellers

• Be transparent: clearly disclose zoning and Minatoya List status.
• Price realistically and market competitively: the phase-out may narrow the investor pool, but your property can still attract strong interest by leaning into its location, features, and lifestyle benefits.
• Stay informed: follow your HOA or association efforts around rezoning or potential exemptions.

The Bottom Line

Bill 9 is a significant shift for Maui's condo market, especially apartment-zoned properties on the Minatoya List. It impacts owners, travelers, and the broader Maui economy. For sellers, it means adjusting expectations and pricing to reality. For buyers, it's both a risk and an opportunity. Hotel- and resort-zoned condos remain more stable, but the broader adjustment is still being felt.

FAQ

What is the Minatoya List?

It's a group of roughly 7,000 apartment-zoned Maui condos historically allowed to operate as short-term rentals under a 2001 county legal opinion. Bill 9 targets these properties for a short-term rental phase-out.

Does Bill 9 affect hotel-zoned condos?

No. Hotel- and resort-zoned properties are designed for visitor accommodations and are largely unaffected. Bill 9 specifically targets apartment-zoned units on the Minatoya List.