Vacation home purchases in Hawaii dropped 78% from 2021 to 2025, with Maui’s Kahului area seeing an 85% decline. The collapse follows the pandemic-era buying boom and reflects broader economic pressures.
- Hawaii ranks second nationally for vacation home purchase declines, falling from 2,156 mortgaged purchases in 2021 to just 478 in 2025.
- Kahului metro area experienced an 85.2% drop in vacation home sales, among the steepest declines nationwide.
- Despite the decline, vacation homes still represent 4.9% of all Hawaii mortgage originations with a median value of $990,000.
- The drop reflects reduced consumer confidence and affordability pressures even among higher-income buyers.
- About 5.6% of Hawaii’s total housing stock is classified as seasonal or recreational use properties.
Source: Maui Now
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