Property Makler
Advanced analytics for residential real estate investing

Kahului-Wailuku-Lahaina, HI housing market

Housing market indicators

Indicator	2022	2023	2024	2025*	2022	2023	2024	YTD
Median Listing Price per Square Feet	$994	$1,195	$1,110	$968	4.9%	20.2%	-7.1%	-12.8%
Active Listing Count	496	616	1,125	1,290	45.9%	24.2%	82.6%	14.7%
Median Days on Market	64	61	100	115	56.1%	-4.7%	63.9%	15%
Share of listings with price increase	0.7%	0.4%	0.3%	0.3%
Share of listings with price decrease	8.5%	9.2%	12.8%	14.5%

* last available value

Note: 12M MA - 12 months moving average, Permits - New Private Housing Structures Authorized by Building Permits. Source: FRED

Area	City/town	Population	Density	Income (high/low/...)	Quality of Schools (Great Schools rating range)	Crime level	Property tax (%)	Comments
Central Maui	Kahului	28,219 (2020)	1,329 people/sq mi	Median	5-8	Moderate	0.35	Retail hub, airport nearby, Queen Kaahumanu Center
Central Maui	Wailuku	17,697 (2020 est.)	1,200 people/sq mi	Median-low	4-7	Moderate-high	0.35	County seat, historic sites, urban core
West Maui	Lahaina	12,702 (2020)	800 people/sq mi	High	6-9	Low-moderate	0.35	Tourism center, fire recovery ongoing post-2023
North Shore	Kihei	21,423 (2020 est.)	1,500 people/sq mi	High	7-9	Low	0.35	Beaches, growing residential, vacation rentals
Upcountry	Pukalani/Makawao	11,404 (2020 est.)	400 people/sq mi	High	8-10	Low	0.35	Rural feel, agriculture, family-oriented

To view all table columns, please open this table on a laptop or desktop screen.

The Kahului-Wailuku-Lahaina MSA equals Maui County plus Kalawao County.
Total population: 164,264 (2023 ACS), down -0.3% from 2020.
Land area: 1,173.5 sq mi, density 140/sq mi overall.
Key regions: Central Maui (urban core), West Maui (tourist), South Maui (Kihei beaches), Upcountry (rural), Hana (remote east).
No local personal income tax; state tax applies uniformly.
Property tax rate: 0.35% effective for Maui County.

Median household income: $91,000 (2023), above national average.
Per capita income: $45,200, with 12% poverty rate.
Income distribution: 25% households over $150k, 20% under $50k.
Housing cost burden: 45% spend >30% income on housing.
Education: 32% bachelor's degree or higher, 25% high school only.
93% high school graduate rate, strong Asian/Pacific Islander demographics drive attainment.
Age median: 42.4 years, 21% under 18, 19% over 65.
Racial makeup: 53% Asian, 25% multiracial, 11% White, 9% Pacific Islander.

Tourism: 60% economy, 30,000 jobs in hotels, resorts, Lahaina/Kaanapali core.
Retail/Trade: Kahului malls, Queen Kaahumanu Center, serves locals/tourists.
Agriculture: Upcountry ranches, pineapple legacy, small-scale diversified farms.
Construction: Post-fire rebuilds, residential growth.
Healthcare/Education: Maui Health, University of Hawaii Maui College.
Government: County services in Wailuku.
Real estate/Vacation rentals: Short-term rentals key revenue.

Zoning: Strict land use laws, 70% land agricultural/conservation, limits urban sprawl.
Regulatory strictness: High environmental reviews, coastal setbacks, historic preservation slow permits.
Construction costs: Elevated at $500/sq ft due to import materials, union labor, terrain challenges.
Workforce shortage: Local labor tight, reliance on mainland crews post-2023 fires.
Inventory low: Only 2-3 months supply, new builds 500 units/year vs. 1,000 demand.
Water scarcity: Upcountry/uphill developments capped by allocations.
Vacation home conversions reduce long-term rental stock.

Net migration: -0.3% pop decline 2020-2023, out-migration of locals due to costs.
In-migration: Remote workers, retirees drawn to lifestyle, +2% annual from mainland.
Growing sectors: Construction/rebuilds post-Lahaina fire boost jobs +15%.
Tourism recovery: Visitor arrivals rebound to 3M/year, sustains high-end demand.
Declining: Sugar industry gone, minor agriculture dip -5% jobs.
Wealthy buyer influx: Median sale price $1.1M, cash buys 40% transactions.
Family demand steady in Upcountry, affordability pushes to outskirts.

Affordability crisis: Median home $1.1M, rent $2,800/month, 8x income ratio.
Lahaina fire impact: 2,200 homes destroyed 2023, displaced 12,000, rebuild delays.
Short-term rental saturation: 40% units STRs, reduces family housing by 20%.
Land constraints: Island geography limits expansion, ag land protections.
Insurance crisis: Wildfire risk hikes premiums 300%, some carriers exit.
Homelessness: 600+ unsheltered, tied to housing shortage.
Labor mobility: High costs drive workers off-island, slows construction.

Area	Appreciation potential	Risk	Key drivers
West Maui (Lahaina/Kaanapali)	High	High	Fire rebuild, tourism rebound, luxury resorts; insurance/volatility risks
South Maui (Kihei/Wailea)	High	Medium	Beach proximity, condo demand, steady retirees; water limits supply
Upcountry (Pukalani/Makawao)	Medium-high	Low	Affordable relative, family growth, rural appeal; slower liquidity
Central Maui (Kahului/Wailuku)	Medium	Medium	Urban convenience, job access; density/crime pressures
Hana/East Maui	Low	High	Remote, eco-tourism niche; access/infra poor

To view all table columns, please open this table on a laptop or desktop screen.