Kaanapali Real Estate Market Report November 2025
It’s no secret that Ka’anapali is one of the best resort areas anywhere in the world. Located on one of the most beautiful stretches of beach in all of Hawaii, Ka’anapali is a small slice of island resort paradise featuring a wide variety of ownership opportunities, including gated, luxury single-family residences in neighborhoods like Lanikeha and Ka’anapali Coffee Farms, oceanfront vacation rental condominium complexes such as the Whaler, and longer-term, residential condo complexes like the Masters.
The last two years have been a bumpy ride for the real estate market on Maui. Fortunately, Ka’anapali has fared better than most areas around the island, and values haven’t taken as large a hit as other areas. Ka’anapali continues to navigate a range of challenges in the aftermath of the Lahaina fire in 2023, including higher mortgage rates, rising HOA fees, and lower STR occupancy rates. All of which have weighed heavily on buyer demand and, in turn, values and closed sales.
But the market may finally be bottoming as we enter the traditionally busier winter buying season on Maui. Kaanapali has seen a roughly 16 year-over-year decline in median condo sale prices, while residential sale prices are up 14.
Ka’anapali Condos Median Sales Price
Ka’anapali Single-Family Median Sales Price
Closed Homes and Condos in Ka’anapali
The Luxury Residential Market in Kaanapali
Throughout 2025, in the residential sector of the real estate market in Kaaanapali, there have been 19 closed sales, ranging from 1.9M to 7.6M, that resulted in a median sold price of 4.4M. The Ka’anapali residential market has been remarkably resilient amid falling prices in the condo category and other areas of the market.
One reason the luxury home market in Ka’anapali has stayed strong is that Lanikeha, the newest luxury subdivision, has had several great newer homes on the market that have inspired buyers to act. Buyers have remained focused on finding move-in-ready homes with high-end finishes and pools. Lanikeha has all of these things.
Ka’anapali Condo Market
Through October of 2025, there have been 57 condo sales in Ka’anapali, ranging from $285,000 for a leasehold condo at Ka’anapali Shores to $6,000,000 for one of the very best units at Ka’anapali Alii on Ka’anapali Beach. The average sales price for a condo in Ka’anapali in 2025 was $1.62M, with a median price of $1.15M.
Values have been declining in the condo market in Ka’anapali due to lower occupancy and lower nightly rates in the short-term rental complexes, combined with increasing HOA fees due to rising insurance premiums. Even the hotel-zoned condos, unaffected by the proposed ban on apartment-zoned STRs, have seen declines, creating opportunities for buyers to get in at better prices.
