Off-island buyers push median Maui home price higher - Hawaii News Now - KGMB and KHNL

Off-island buyers push median Maui home price higher

(Image: Hawaii News Now) (Image: Hawaii News Now)

WAILUKU, Hawaii (AP) - The median price of a single-family home in Maui County has climbed to $630,000 for the first half of 2016, a sum real estate experts say is pricing locals out of the market.

The Maui News reports that Realtors Association of Maui President Jeannie Wenger says homes sales for the first half of the year have primarily been to locals for houses below the median price and to off-island buyers who can pay $600,000 and above.

At the end of 2000, the median price of a single-family home was $275,000. Prices have risen 2.3 times higher since then and Wenger says local incomes have not kept pace.

Wenger says one of the biggest problems in the county is inventory, as there are not enough single-family homes available.

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