Updated May 19, 2023 Market Glance for Vacation Condos
$1,717,500 Median asking price
$1,806.88 Median asking price per square foot
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Essential things to know about vacation condos on Maui
There are more than 300 different condo communities on Maui but it's important to know that fewer than half of those communities (only about 130) allow short term vacation rentals. When shopping for a condo on Maui it's vital that you work with an expert who knows how to differentiate between condos that can be vacation rented and those that are for long term use only.
The Sayles Team: Your vacation condo experts
We have been been helping clients buy and sell vacation condos since 1985 and have developed special tools and resources to help you find just the right property. Take a look at our featured listings and explore some of our beautiful communities.
How much more does a vacation condo cost?
The short answer is that you will pay on average between 40% to 60% more for a condo that allows vacation rental use. As you can see from the chart in this section, the average sales price in 2022 for a vacation condo on Maui was $1,299,183 which is 44.29% more than the price for a regular (long term use) condo which was $900,342 in 2022.
The price difference will vary significantly depending on the size of the unit. For example, the price for 3 bedroom vacation condos has risen significantly in the last two years due to high demand for that lager style of unit. As a result, the average sales price for a 3 bedroom vacation condo was $4,265,337 in 2022 which is 190% above the price for a regular 3br condo (2022 average was $1,467,575).
Why are vacation condos on Maui are so desirable?
Great Locations
Vacation condominiums on Maui have some of the very best beachfront and ocenfront locations where the coastline is just a short distance away from the units. Communities that are not direct oceanfront, whether it's just across the street or further inland, still have prime locations to offer great views or other important benefits.
Premium On-site Amenities
Vacation condos tend to have larger and higher quality pools as well as more on-site amenities including tennis courts, fitness centers, clubhouses and barbecue areas.
Access to the best of Maui
Because vacation condos are located in the most popular areas that cater to visitors, many of the best shops, restaurants and activities are conveniently close by and easy to access.
Ready to Buy or Sell a vacation condo?
Maui has some of the finest vacation condos communities in the entire State of Hawaii. If you or anyone you know is ready to work with the Top Realtor on Maui for vacation condos please contact us today!
