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COVID-19 Impacts West Maui Market: Evokes Good News, Bad News Situation

Wondering how COVID-19 will impact the Hawaii real estate market? Check out this breakdown on the West Maui real estate statistics!
April 03, 2020

As concerns grow around the COVID-19, also known as coronavirus, so do the concerns about our overall economy and how it will be impacted during the duration of the pandemic.

According to the latest Hawaii real estate statistics, new listings on the island of Maui decreased to almost 18 percent for single-family homes, and there was a slight decrease in condos to about 5.6%. However, as mortgage rates are dropping it seems as if house sales may have the potential to increase. Buyers are being advised to purchase now. Pending sales on the island as a whole increased to about 19% for single-family homes and a little over 21% for condo apartments. 

Here is the breakdown for West Maui real estate:

Kapalua Real Estate

  • Single-family Kapalua home sales went for a median price of $2,450,000 in February 2020. That's an increase of $430,000 from January but overall sales are down in this area compared to the same time last year. 

  • As for Kapalua condos for sale, there was one condo sold for $4,200,000. That’s a high price tag compared to January’s median sales price in this area where four houses sold for a median sales price of $972,500. 

Kaanapali Real Estate

Lahaina Real Estate

  • In Lahaina, homes sold for a median sales price of $1,971,610 dollars. Six sold in January and seven sold during the same time last year. Looks like prices are up in this area however which is good news. 

  • As for condo apartments, 13 sold for a median sales price of $514,120. 

Honokowai, Napili, and Kahana Real Estate

  • There were three homes sold for a median sales price of $797,500. That price is down from the same time last year. 

  • As for condo apartments in this area, sales continue to remain steady with around 23 condos sold here in February. 

For more information about how the coronavirus may impact the overall housing market this year, please keep checking back to our blog where we report on the latest monthly statistics each month. If you have any questions about real estate on Maui, please do not hesitate to contact us. Have a great week and stay healthy!

Blogs for April 2020

Why Investors Look to Kapalua Real Estate for Sale in Hawaii

Posted on April 24, 2020


When it comes to buying homes in Maui, no place will capture your attention quite like Kapalua real estate. 

Whether you have been eyeing property on the island’s north shore, upcountry area, south side, or beyond, you will want to add West Maui real estate… Continue Reading

A Luxurious Lifestyle Awaits You At This Hawaii Million-Dollar Mansion

Posted on April 17, 2020


Have you been keeping an eye on the low-interest mortgage rates that are available right now during this COVID-19 pandemic? With all this free time on your hands now is a great time to start looking at properties for sale on Maui so when you… Continue Reading

How to Protect Your Home & Family from COVID-19

Posted on April 10, 2020


Right now, we are all facing the same concerns around the world about the effects of the coronavirus, or COVID-19. This on-going, fastly spreading pandemic is impacting the world’s health, our overall economy, and our well being. 

Number one, we encourage you to stay safe,… Continue Reading

COVID-19 Impacts West Maui Market: Evokes Good News, Bad News Situation

Posted on April 03, 2020

As concerns grow around the COVID-19, also known as coronavirus, so do the concerns about our overall economy and how it will be impacted during the duration of the pandemic.

According to the latest Hawaii real estate statistics, new listings on the island of Maui decreased… Continue Reading

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