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Issue 1199 | March 24th, 2026
Aloha ,
The Ripple Effect: How One Tower Created 500+ Homes
Aloha!
Is more construction the key to better affordability? According to new research from the University of Hawaiʻi Economic Research Organization (UHERO), the answer is a resounding yes.
By tracking a single 512-unit project, researchers found that the "chain reaction" of moves actually created over 500 vacancies island-wide—many of which were larger, more affordable single-family homes. In today’s update, we break down why building new units is essential for freeing up the older housing stock our community needs and how this "ripple effect" impacts the market for everyone.
Read more on UHERO’s website.
Key Takeaways from the UHERO Study:
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The Chain Reaction: One new building created 500+ total vacancies island-wide within 3 years.
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Cost Factor: The "freed up" homes were, on average, 40% less expensive per square foot.
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Family Impact: Households moving into new condos often left behind 3+ bedroom single-family homes.
Mahalo Nui Loa,
Ken Smith R(S), Melissa Smith R(B), and Gregory P Smith R(B)
The Smith Team
P.S. County of Maui offices to close Thursday for Prince Kūhiō Day holiday
Market Watch
| |
Active |
Pending |
Sold |
Change |
| Homes |
453 (394) |
126 (99) |
715 (523) |
-3 |
| Condos |
915 (344) |
110 (36) |
718 (203) |
-10 |
| Land |
213 (81) |
21 (6) |
152 (46) |
-2 |
| Total |
1581 (819) |
257 (141) |
1585 (772) |
-8 |
1. Numbers in parentheses reflect listings over $1M
2. Sold listings are for the previous 12 months
3. Change is the increase/decrease from the previous week
January 2026
February 2026
Market Statistics
Updated list of all bank-owned and short-sale properties:
Bank-owned
Short sale
Homes Over $1M
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10 PAKAU Pl
Kahului
$1.199M (FS)
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Welcome home to this beautifully remodeled 3 bedroom 2.5 bath home located in the heart of Kahului. Perfectly positioned within a short distance to schools, shopping, and the mall. This centrally located home offers the ideal blend of comfort, style and convenience. Inside is a freshly painted interior complemented by new waterproof vinyl plank flooring throughout, creating a clean, modern feel that's both stylish and low maintenance.
Customer Listing Synopsis
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634 Laniolu Pl
Kihei
$2.888M (FS)
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A treasure chest of wonder can be yours in this enchanting Maui Meadows Crown Jewel. Perched at the crest of a quiet cul-de-sac, offering unmatched privacy, this panoramic estate offers a masterclass in island living, an experience rarely found in South Maui.
Customer Listing Synopsis
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35 Ohia Lehua Pl
Makawao
$4.995M (FS)
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When HOME is the destination. Set in an IDEAL UPCOUNTRY location, this RETREAT is where luxury, RESORT INSPIRED amenities, and Maui’s natural beauty merge in harmony. Upon entry, OCEAN AND MOUNTAIN vistas unfold like nature’s own work of art. Thoughtfully renovated and expanded in 2025, the home was re-imagined as a place of beauty, recreation, and restoration.
Customer Listing Synopsis
Video Tour
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519 Hana Hwy
Paia
$5M (FS)
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Classic North Shore Maui. Situated on the ocean in Ku’au, these two homes, offer a peaceful escape just minutes from Pa’ia Town. The beachfront house boasts sweeping ocean views, and a front-row seat to Tavares Bay surf action, while the primary suite offers a breathtaking vantage point – imagine watching turtles and whales right from you bed!
Customer Listing Synopsis
Video Tour
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Homes Under $1M
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639 Kainalu Pl
Wailuku
$570K (FS)
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SOLD
Great opportunity in Central Maui! This single-level 4 bedroom, 2 bath home offers excellent potential for homeowners or investors. Situated on a level lot with a nice-sized backyard, the home is currently used as a 3 bed, 1 bath main living area with a separate 1 bed, 1 bath space, perfect for multi-generational living or rental income possibilities.
Customer Listing Synopsis
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182 IKEA Pl
Makawao
$870K (FS)
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Welcome to 182 Ikea Place Unit A, a rare upcountry opportunity offering space, views, and room to make it your own. Located at the end of Ikea Place, this 4-bedroom, 1-bath home sits on Lot A of a three-unit residential CPR and offers approximately 1,140 square feet of interior living space on a generous 10,000 square foot lot.
Customer Listing Synopsis
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63 Wilipohaku Rd
Wailuku
$950K (FS)
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Welcome to this beautifully renovated 3-bedroom, 1.5-bathroom single-level home located in desirable Waihe'e. Thoughtfully upgraded throughout, this move-in ready property blends modern convenience with clean island-inspired finishes.
Customer Listing Synopsis
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101 Ulana St
Makawao
$999K (FS)
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Welcome to Maui Uplands! This beautiful 2-bedroom, 2-bath home with views of the West Maui mountains was fully renovated in 2023. Luxury vinyl flooring, custom bathrooms, a bright and functional kitchen are just some of the wonderful features of this spacious 1,012 sqft home.
Customer Listing Synopsis
Video Tour
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Vacation Condos Over $1M
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Honua Kai - Hoku Lani # SR 716
Kaanapali
$1.099M (FS)
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Honua Kai Hokulani 716 is a beautifully appointed one-bedroom, one-bathroom luxury condominium located on world-famous Ka’anapali North Beach. Perched on the 7th floor of the south-facing Hokulani Tower, this residence offers captivating ocean and sunset views with the island of Lana’i as a stunning backdrop—perfect for seasonal whale watching right from your private lanai.
Customer Listing Synopsis
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Kapalua Bay Villas I # 32G-5
Kapalua
$1.295M (FS)
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Kapalua Bay Villa 32G-5 is a 1bd/2bth end unit on the ground floor with a nice lawn area outside the front door, for outdoor enjoyment. This villa is a townhouse style which affords you even better ocean views from the primary bedroom.
Customer Listing Synopsis
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Polo Beach Club # 107
Wailea
$3.999M (FS)
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Ideally positioned just one residence off the front row, Polo Beach 107 captures exceptional ocean views while offering the convenience of true ground-floor, walk-out access. From your lanai, step directly onto an expansive greenbelt that seamlessly extends your living space and leads just moments to the white sands of Polo Beach.
Customer Listing Synopsis
Video Tour
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Wailea Beach Villas # PH-209
Wailea
$5.750M (FS)
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Welcome to Wailea Beach Villas Penthouse 209, one of Wailea’s most prestigious gated, Hotel-Zoned beachfront communities. This spacious 3 Bedroom, 3 Bathroom + DEN (configured as a 4th bedroom) offers 2,521 sq. ft. of SINGLE-LEVEL Luxury with refined finishes, open-concept design and seamless indoor-outdoor living. Secure elevator access to your penthouse.
Customer Listing Synopsis
Video Tour
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Vacation Condos Under $1M
Kalama Terrace # L-204
Kihei
$299K (FS)
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PENDING - CONT. TO SHOW
Welcome to this charming 1-bedroom, 1-bathroom condo located in the desirable Kalama Terrace complex. This fully furnished unit offers a perfect blend of comfort and style, making it ideal for full-time living, a vacation getaway, or a rental investment. The kitchen features a newer gas stove and refrigerator, along with beautiful granite countertops and updated wood cabinetry.
Customer Listing Synopsis
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Paki Maui I II # 418
Napili
$350K (FS)
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Offered at an exceptional value of $350,000, this charming 1-bedroom, 1-bath residence at Paki Maui presents a wonderful opportunity to own on Maui’s oceanfront. Located on the top (fourth) floor with convenient elevator access, the unit is bright, clean, and well-maintained, featuring an open layout and peaceful views of the lush tropical gardens.
Customer Listing Synopsis
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Haleakala Shores # 205 B
Kihei
$625K (FS)
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Excellent location. Experience the ultimate island lifestyle in this beautifully maintained 2-bedroom, 2-bath, single-level condominium at Haleakala Shores, ideally situated just across from the beach. This spacious unit offers serene Haleakala views and features a bright, open floor plan with tile flooring, upgraded cabinetry, granite countertops, and upgraded appliances.
Customer Listing Synopsis
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Maui Kai # 506
Kaanapali
$650K (FS)
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Hotel-zoned and perched on North Ka'anapali Beach, Maui Kai 506 is a beautifully remodeled oceanfront studio/1-bath offering panoramic views of Moloka'i and Lana'i. Enjoy stunning blue-water views from nearly every angle and a private lanai—perfect for morning coffee or sunset evenings with the sound of the surf below.
Customer Listing Synopsis
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Kihei Alii Kai # A206
Kihei
$650K (FS)
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HOTEL-ZONED – SHORT-TERM VACATION RENTALS ALLOWED. Welcome to Kihei Alii Kai A-206, ideally situated in the heart of South Kihei, just moments from the soft white sands of Kamaole Beach Park I. This residence offers the perfect blend of relaxed island living and exceptional investment potential.
Customer Listing Synopsis
Video Tour
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Residential Condos Over $1M
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Paradise Ridge Estates # 801
Kihei
$1.088M (FS)
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Tranquility awaits at Paradise Ridge Estates! Live your best life at South Maui's newest, exclusive gated community. Start your day on your covered lanai, perfectly perched at the front of the community, gazing upon the glimmering waters of the beautiful blue Pacific Ocean.
Customer Listing Synopsis
Video Tour
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Wailea Point I II III # 1404
Wailea
$10.500M (FS)
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Wailea Point 1404 is a front-row, 3 bedroom / 3 bath oceanfront masterpiece—an inspired blend of refined design, master craftsmanship, and timeless elegance in one of Maui’s most exclusive communities. Reimagined through an extensive, no-expense-spared renovation, this one-of-a-kind residence offers sweeping views of white sand beaches, dramatic coastline, and the neighboring islands of Molokini, Kaho‘olawe, and Lana‘i.
Customer Listing Synopsis
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Residential Condos Under $1M
Harbor Lights # C404
Kahului
$149K (FS)
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Ideally situated at the end of the top floor, this Harbor Lights residence offers an open canvas for your next project. The interior has been cleared to its essential layout, saving you the time and effort of initial demolition and allowing for a personalized floor plan from day one.
Customer Listing Synopsis
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Maui Gardens # F 201
Kihei
$498K (FS)
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Step into Maui living at its finest with this fully remodeled corner unit at Maui Gardens F-201 — a rare 2nd-floor gem just one block from the beach! Every detail has been thoughtfully upgraded since the 2019 full renovation, creating a space that blends modern comfort with island charm.
Customer Listing Synopsis
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Haleakala Gardens # 12E
Kihei
$675K (FS)
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Welcome to Haleakala Gardens, a pet-friendly complex just one block from the ocean and steps to Kalepolepo Beach and Waipulani Beach Park. Nestled in lush tropical landscaping, this top-floor, garden-view unit in Building 12 offers peace and privacy with a beautifully remodeled interior. This spacious 3-bedroom, 2-bathroom home features soaring vaulted ceilings and a thoughtful full renovation from top to bottom.
Customer Listing Synopsis
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Kehalani Gardens # 102
Wailuku
$710K (FS)
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Welcome to Kehalani Gardens #102, where comfort meets convenience in Central Maui. This 3-bedroom, 2.5-bathroom condo is a thoughtful blend of style and function. Plantation shutters, cork flooring, oak stair treads, recessed kitchen lighting, and outlets with built-in USB ports bring both character and modern convenience, while a sleek dining room light fixture sets the ambiance.
Customer Listing Synopsis
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Vacant Land
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Hokiokio Pl
Haiku
$865K (FS)
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Nestled within the prestigious gated community of Pu‘u Noa Estates in the highly desirable Launiupoko area of Lahaina, this property is truly one of a kind. While located behind the Pu‘u Noa gates, it is not part of the HOA, offering the rare benefit of privacy and flexibility without the full restrictions. Instead, the property enjoys secure gate and roadway access for a reduced fee of only $140 per month.
Customer Listing Synopsis
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