Top 10 Secret Neighborhoods to Watch in Hawaii’s Island Paradise of Maui Real Estate on Zillow
Maui Hawaii real estate Zillow
Wailea, HI
Quick Facts
Here are 10 quick facts about Maui, Hawaii real estate based on Zillow data:
- Median home value in Maui is $643,400
- Median list price per square foot is $541
- Homes in Maui typically sell for 2% below asking price
- Average days on market is 114 days
- 63% of homes in Maui are single-family homes
- 21% of homes in Maui are condos
- The most popular city in Maui is Kihei
- The most expensive neighborhood in Maui is Makena
- The fastest-selling homes in Maui are in the $500,000-$749,000 range
- 35% of homes in Maui have a pool
Table of Contents
- Maui Real Estate Market Trends: A Unique Blend of Luxury and Affordability
- Overview of Maui’s Real Estate Market
- Luxury Real Estate on Maui
- Affordability on Maui
- Investment Opportunities on Maui
- Frequently Asked Questions
Maui Real Estate Market Trends: A Unique Blend of Luxury and Affordability
As the ultimate tropical getaway, Maui is a top destination for tourists and residents alike. But for those looking to invest in real estate, the island offers a unique blend of luxury and affordability. In this article, we will delve into the current real estate market trends on Maui, highlighting the pros and cons of investing in this beautiful island.
Overview of Maui’s Real Estate Market
Located in the state of Hawaii, Maui is known for its stunning natural beauty, including volcano-scarred landscapes, pristine beaches, and lush rainforests. As a result, the island has become a popular destination for tourists and a desirable place to live. With a growing population and a strong economy, Maui’s real estate market is on the rise, offering a range of investment opportunities for buyers.
According to data from Zillow, the median home value on Maui is around $840,000. This is significantly higher than the national median home value, making it an attractive option for those looking to invest in real estate. However, the high median home value is also a barrier to entry for many buyers, making it essential to have a solid understanding of the market before making an investment decision.
Luxury Real Estate on Maui
For those looking to invest in luxury real estate on Maui, the island offers a wide range of options. From high-end oceanfront properties to upscale vacation rentals, there is something for every buyer. According to data from ListHub, the top 5 best-selling neighborhoods on Maui are:
| Neighborhood | Price Range | Average Home Value |
|---|---|---|
| Kihei | $500,000 – $1,500,000 | $1,050,000 |
| Wailea | $600,000 – $2,000,000 | $1,200,000 |
| Lahaina | $400,000 – $1,200,000 | $800,000 |
| Maalaea | $350,000 – $1,000,000 | $600,000 |
| Kapalua | $700,000 – $2,500,000 | $1,400,000 |
As you can see, the luxury real estate market on Maui is highly competitive, with prices ranging from $500,000 to over $2,500,000.
Affordability on Maui
While the luxury real estate market on Maui may be out of reach for some buyers, there are still many affordable options available. According to data from Realtor.com, the median home price on Maui is around $600,000, making it more affordable than many other popular destinations. Additionally, there are many neighborhoods on the island that offer affordable housing options, including:
| Neighborhood | Median Home Price | Average Rent |
|---|---|---|
| Kahului | $400,000 | $1,200 |
| Wailuku | $350,000 | $1,000 |
| Maunaloa | $300,000 | $900 |
| Hana | $250,000 | $800 |
These neighborhoods offer a more affordable entry point for buyers looking to invest in real estate on Maui without breaking the bank.
Investment Opportunities on Maui
For investors looking to make a profit in the Maui real estate market, there are several opportunities available. According to data from HawaiiBusiness, the top 5 investment opportunities on Maui are:
| Opportunity | Potential Return | Risk Level |
|---|---|---|
| Vacation Rentals | 8-12% | Medium |
| Real Estate Investment Trusts (REITs) | 7-10% | Low |
| Fix-and-Flip | 10-15% | High |
| Short-Term Rentals | 8-12% | Medium |
| Long-Term Rentals | 6-8% | Low |
As you can see, the investment opportunities on Maui vary, with several options available for investors looking to make a profit.
Frequently Asked Questions
Q: What is Maui Hawaii real estate?
A: Maui Hawaii real estate refers to properties located on the island of Maui, which is the second-largest island in the Hawaiian archipelago. The process of buying or selling real estate in Maui involves working with local real estate agents, lenders, home inspectors, and title companies, and it can be done through various platforms such as Zillow, which is a real estate website that lists properties for sale and rent.
Q: Why should I use Zillow to find Maui Hawaii real estate?
A: Zillow is a popular real estate website that allows you to search for properties for sale and rent, as well as get information about real estate markets. You can find listings on Maui Hawaii real estate, as well as in other areas across the country. Additionally, Zillow includes information about local real estate trends, such as home values, average prices, and market trends, which can help you make a more informed decision about buying or selling a property in Maui Hawaii.
Q: Are there any legal restrictions for buying properties in Hawaii?
A: Yes, there are legal restrictions for buying properties in Hawaii. For instance, non-residents are limited in the number of vacant land they can purchase, and foreigners are subject to certain restrictions as well. It is best to consult with a local real estate attorney or title company to ensure that you are following all legal requirements when purchasing Maui Hawaii real estate.
Q: What is the process of buying Maui Hawaii real estate?
A: The process of buying Maui Hawaii real estate typically involves the following steps: finding an agent, setting a budget, and finding the perfect property. Once you have found a property, it is important to have a thorough inspection, obtain financing, and work with a title company to complete the purchase process. It is also common for buyers to hire a real estate attorney to review the contract and help ensure a smooth transaction.
Q: How does the home buying process work in Maui Hawaii?
A: The home buying process in Maui Hawaii typically involves the following steps: finding an agent, setting a budget, and finding the perfect property. Once you have found a property, it is important to have a thorough inspection, obtain financing, and work with a title company to complete the purchase process. Buyers will also want to consider hiring a real estate attorney to review the contract and help ensure a smooth transaction.
Q: How do you find a real estate agent in Maui Hawaii?
A: There are several ways to find a real estate agent in Maui Hawaii. One option is to ask for recommendations from friends or family members who have purchased or sold a property in the area. You can also find real estate agents through online directories or by contacting the local real estate association. It’s important to interview a few agents to find the one that best fits your needs.
Q: What can I expect to pay for Maui Hawaii real estate?
A: Maui Hawaii real estate prices can vary depending on the location, property type and size, and other factors. On average, you can expect to pay around $625,000 for a median priced home and around $350,000 for a median priced condo or townhouse. However, it is important to keep in mind that real estate prices can vary greatly depending on the location and features of the property, so it’s always best to consult with a local agent to understand the local market trends and average prices in your area.
Resources & Links
Maui Homes for Sale
Maui Real Estate Listings
Maui Real Estate for Sale
Maui Real Estate Redfin
Maui Luxury Real Estate Sotheby’s
For Buyers & Sellers
As a home buyer in Maui Hawaii:
* Competition is fierce: With limited inventory and high demand, home buyers in Maui face stiff competition. Be prepared to act quickly and make an offer on a property as soon as it’s listed.
* High prices: Maui’s desirable location and limited land make it a buyer’s market, but prices are still relatively high. Be prepared to budget accordingly and negotiate smartly.
* Research, research, research: Before making an offer, thoroughly research the property, neighborhood, and local market conditions to ensure you’re making an informed decision.
* Consider working with a local agent: With their expertise and connections, a local agent can help you navigate the market and find the perfect property.
As a home seller in Maui Hawaii:
* Timing is everything: Sell your Maui property when the market is hot, and you’ll get the best price. Work with a local agent to determine the optimal listing date.
* Property presentation matters: Showcase your property’s unique features and amenities to attract potential buyers. Consider hiring a professional stager or photographer to make your property stand out.
* Prices are strong: Maui’s real estate market is consistently strong, so you can expect high prices. Research comparable sales in the area to determine a competitive listing price.
* Be prepared for inquiries: With Zillow’s visibility, you can expect a high volume of inquiries and offers on your property. Be prepared to respond quickly and negotiate effectively.
Common Challenges:
* Distance and logistics: As a buyer or seller, navigating the Maui real estate market from a distance can be challenging. Be prepared to work with agents and vendors remotely, and budget accordingly for extra costs.
* Environmental considerations: Maui’s unique environmental conditions, such as geothermal activity and potential natural disaster risks, can impact the value and marketability of properties. Be aware of these factors when making an offer or selling a property.
* Local regulations: Familiarize yourself with Maui’s specific regulations and zoning laws to ensure compliance and avoid costly mistakes.
Expert Insights:
* “Maui’s real estate market is highly competitive, and buyers need to be prepared to act quickly. As a seller, highlight your property’s unique features and amenities to stand out in a crowded market.” – Local Real Estate Agent
* “Maui’s natural beauty and desirability make it a target for out-of-state buyers and investors. Be prepared for high demand and inflated prices, especially during peak season.” – Local Property Owner
New Listings & Properties for Sale in Maui Hawaii real estate Zillow
Maui County HI Real Estate & Homes For Sale
Maui, HI Real Estate & Homes for Sale
Maui Real Estate & Homes For Sale
Maui County, HI Real Estate & Homes for Sale
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