With fewer homes on the market, median sales price for single-family homes on Maui increased by 19.5% to $1,777,500 in March 2022 — a record high for the island. 

In March 2021, median sales prices for single-family homes on Maui were $985,000.

In January, the previous record for single-family homes on Maui was set at $1.16 million. 

These numbers come from the Realtors Association of Maui. 

Additionally, a home was sold in March for $18.5 million on South Maui, making it the most expensive home sale on Maui for the year so far, according to Maui Now.  

Median sales prices for condominium homes in March on Maui increased by 27.6% percent to $820,000 — another record high for the island. 

In March 2021, median sales prices for condos on Maui were $642,500.

In February, the previous record for condos on Maui was set at $730,500. 

The inventory of homes for sale decreased by 25.7%. In March 2022, there were 188 homes for sales, compared to March 2021 when there were 253. 

For condos, the change was even more drastic, with 385 condos for sale in March 2021, compared with only 153 in March 2022, which is a 60.3% decrease. 

These numbers show how low the inventory of homes and condos have been on Maui, which may be fueling the higher prices. 

The average number of days that single-family homes were on the market decreased 11.2%. This means that in March 2021, homes were on the market for an average of 116 days before being sold, compared to March 2022, when they were on the market for 103 days.

For condos, the number of days on the market decreased even more drastically by 53.1%. This means that in March 2021, condos were on the market for an average of 147 days before being sold, compared to March 2022, when they were on the market for only 69 days.

The high price of housing is part of the reason that there has been a lack of medical workers on Maui. The Maui City Council is also discussing limiting the number of vacation rentals allowed on the island, which might help with the high cost of housing.