Maui Property Market and Real Estate Guide

(Maui, Hawaii - HI, USA)

Image showing an aerial view of MauiHawaii's most romantic island, Maui is awash with beautiful beaches, hidden waterfalls and volcanic peaks. In an archipelago known for attracting seasonal residents, Maui is a particularly popular place to buy or rent.

Local properties are expensive, and the cost of living is just as high. For many, the chance to live in the world's quintessential island paradise justifies any expense. Most of the properties for sale or rent on Maui are on the west coast and enjoy convenient beach access. Kahului, Kapalua and Kihei are especially popular communities. Windsurfing, scuba diving and surfing are favourite outdoor pursuits among residents.

While the recent economic downturn affected the housing market on Maui, property values here are relatively stable. Condominiums depreciate with time, but they are periodically refurbished. Buying a condominium before it is renovated allows for dramatic short-term turnaround.

Renting Serviced Apartments

Serviced apartments generally take the form of condominiums. These are typically stylish and amenities-focused, although they don't necessarily offer savings over traditional hotel rooms. Instead, Maui serviced apartments create a sanctuary away from the commotion of touristy areas, giving guests the chance to relax in an environment that has been customised to suit their own preferences.

Rates are higher than those of regular apartments and condominiums, and there is usually no minimum stay. Staying in a serviced condominium for more than a week may incur a saving of 15 to 20 percent. Amenities including parking and wireless Internet access may incur a premium.

Buying Apartments and Houses

The most affordable properties for sale in Maui are older condominiums on leasehold land. Properties like this can be purchased by expats for a period of several decades, after which time a new lease must be negotiated. This is part of an agenda to preserve Hawaiian heritage and culture, and to keep foreign interests in check.

Leasehold land can be a good investment. The least expensive properties are usually on a lease that is about to expire. A buyer who purchases one of these may inherit a substantial price increase when the lease is renegotiated. There are still many houses and condominiums not held by a lease ('fee simple') that can be purchased or sold at will.

Real Estate Agents

Finding a trustworthy real estate agent in Maui is an important part of securing the best property deal. Interpreting lease laws and differentiating between leasehold and fee-simple properties can be confusing for newcomers or first-time buyers. Be sure to pick an agent who is well acquainted with the market that most interests you.

Check out the following Maui realtors and real estate agents:

Bello Realty
Address: 115 East Lipoa Street, Suite 101, Kihei, Hawaii HI, 96753, USA
Tel: +1 800 541 3060
Bello Realty specialises in vacation rentals around the island. Its portfolio includes properties in several resort communities, and it organises time-shares and outright purchases in addition to rentals.

Ken Smith Realty
Address: 3750 Wailea Alanui Drive, Suite B-35, Wailea, Hawaii HI, 96753, USA
Tel: +1 808 572 0866
The Smith team has more than two decades of experience finding properties for buyers in Maui. They maintain an impressive portfolio with rentals, condominiums and houses available across the island.

ERA Pacific Properties
Address: 225 Piikea Avenue, Suite 92, Kihei, Hawaii HI, 96753, USA
Tel: +1 808 879 1511
ERA boasts some 20 years' experience on Maui. Its agents speak multiple languages including English, German, Spanish, Japanese and Tagalog, and staff are especially well versed in dealing with international clients.