By Benjamin Finnerty (S), REALTOR® (RS-83812) with Keller Williams Realty Maui · Kīhei, Maui · 808-481-9748

Quick Answer: Freddie Mac’s October 1, 2026 survey put the average 30-year fixed rate at 7.28%, up from 6.34% a year ago. Maui’s August 2026 single-family median fell 7.9% to $1,200,000, yet with 20% down the principal and interest is about $6,568 a month, roughly $90 more than last year. At the $564,950 condo median, it’s about $140 cheaper.

I’m Benjamin Finnerty, a REALTOR® in Kīhei with Keller Williams Realty Maui, and the question I hear most this fall is simple: prices came down, so why doesn’t it feel cheaper? The answer is in the monthly payment, not the sticker price. Below I walk through how lower Maui prices and higher mortgage rates balance out for a home and for a condo.

What is the 30-year mortgage rate right now?

As of Freddie Mac’s Primary Mortgage Market Survey for Thursday, October 1, 2026, the national average 30-year fixed rate was 7.28%. That compares with 7.03% the week before and 6.34% a year earlier.

Loan type (Freddie Mac, Oct. 1, 2026)	This week	Prior week	A year ago
30-year fixed	7.28%	7.03%	6.34%
15-year fixed	6.60%	6.42%	n/a

National coverage of the survey described the 30-year average as the highest since November 2023. Long-term bond yields climbed after the Federal Reserve’s mid-September rate hike, and mortgage rates followed. Keep in mind these are national averages; jumbo loans and individual borrowers can see different rates.

What is the median home price on Maui right now?

As of August 2026, the REALTORS® Association of Maui (RAM) reported a single-family median of $1,200,000 and a condo median of $564,950, as covered by Maui Now and The Maui News. Both were down from August 2025, while sales counts rose.

	August 2026	August 2025	Change
Single-family median	$1,200,000	$1,302,500	-7.9%
Single-family sales	64	62	+3.2%
Condo median	$564,950	$650,000	-13.1%
Condo sales	68	57	+19.3%

More homes are selling at lower prices. In my read of these numbers, sellers who price to the current market are finding buyers.

Maui home affordability: what is the monthly payment on a median home and condo?

At today’s rates, the median Maui single-family home costs about $6,568 a month in principal and interest with 20% down, and the median condo about $3,092. These are my own comparison calculations: principal and interest only, 30-year fixed, 20% down, using the RAM medians and Freddie Mac averages above. They are not a loan quote.

Scenario	Loan amount	Rate	Monthly P&I
Median single-family, Aug 2025	$1,042,000	6.34%	~$6,477
Median single-family, now	$960,000	7.28%	~$6,568
Median condo, Aug 2025	$520,000	6.34%	~$3,232
Median condo, now	$451,960	7.28%	~$3,092

Three things stand out to me:

• On a single-family home, higher rates have mostly cancelled out the price drop. A $102,500 lower median still leaves the monthly payment about $90 higher than a year ago.
• Condos have become slightly more affordable. The condo median fell enough to more than offset the rate increase.
• One week of rate movement adds up. On a $960,000 loan, going from 7.03% to 7.28% adds about $160 a month.

Property tax, homeowners or HO-6 insurance, and HOA dues (often significant for Maui condos) all come on top of principal and interest. Your actual rate will also depend on your credit, down payment and loan type.

Should Maui buyers wait for mortgage rates to fall?

Nobody can reliably predict rates, so I don’t build a plan around guessing them. Here is the framework I use instead:

• If you plan to stay five years or more, buying at a lower price with a higher rate leaves you the option to refinance later if rates fall, while the purchase price is locked in. If rates were to fall sharply, more buyers would likely come back, and prices have tended to firm up in that scenario.
• Negotiating power has shifted toward buyers. With longer days on market in August (128 days for single-family and 171 for condos), sellers are more open to price reductions, closing credits or a paid rate buydown.
• Get pre-approved at today’s rate, not last month’s. A quarter-point jump can change how much you can borrow.

What do higher rates mean for Maui sellers?

Buyers are shopping by monthly payment, not just price, so pricing correctly from day one matters more than it did a year ago. A seller credit toward a rate buydown can sometimes do more for a buyer’s payment than an equal price cut, which is worth discussing with your agent before you list.

My Take: What I’m Telling Buyers and Sellers

For condo shoppers, the payment math is a little friendlier than it was in August 2025, but I’d look at the full monthly cost before celebrating. HOA dues and insurance vary a lot from building to building, and they can erase a $140 advantage quickly. I ask for the association budget and an insurance quote early, before an offer gets emotional.

For single-family buyers, the lower median hasn’t translated into a lower payment yet. Where I see room is in negotiation: with homes taking 128 days to sell in August, a closing credit or rate buydown is a reasonable ask, and it can move your monthly number more than a small price cut.

For sellers, I’d plan around the buyer’s payment. If your home sits, a buydown credit may be a better tool than another price reduction. Either way, run the numbers with a local lender at today’s rate.

Frequently Asked Questions

What is the 30-year mortgage rate right now?

Freddie Mac’s October 1, 2026 survey reported a national average of 7.28% for a 30-year fixed loan. Rates for jumbo loans and for individual borrowers can be different.

What is the median home price on Maui?

For August 2026, RAM reported a single-family median of $1,200,000 and a condo median of $564,950 for Maui County.

Is it cheaper to buy a Maui condo now than a year ago?

On principal and interest alone, slightly. At the median price with 20% down, the payment is about $140 a month lower than last August, even with higher rates. HOA dues and insurance can change that picture a lot from one building to the next.

How much does a quarter-point rate change cost on a Maui home?

On a $960,000 loan, the 20%-down loan amount at the August 2026 single-family median, each quarter point adds or subtracts roughly $160 a month in principal and interest.

For more context, see my breakdown of Maui’s August 2026 home and condo sales numbers, my look at Maui homeowners insurance costs before you make an offer, and how Maui’s new property tax rates change the condo math.

This is general information, not lending or financial advice. Please confirm your rate and payment with a licensed mortgage lender.

Ask Benjamin

The math is changing week to week, and every buyer’s situation is different. I’m Benjamin Finnerty, and I’m glad to put together a side-by-side of what a home or condo in your price range would really cost each month, including taxes, insurance and HOA dues, with a trusted local lender. Call or text me at 808-481-9748 or email benjamin@the808team.com.

Sources: Freddie Mac Primary Mortgage Market Survey (Oct. 1 and Sept. 24, 2026), REALTORS® Association of Maui via Maui Now and The Maui News (August 2026 data), Fox Business, CNN.