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

Quick Answer: Living in Wailea or Mākena means buying into Maui’s priciest stretch of the south shore. According to the REALTORS® Association of Maui (RAM), the Wailea/Mākena single-family median for January–September 2026 was $2,900,000 on 20 sales, down from $3,850,000 a year earlier. Condos are far more common: 66 sold at a $2,085,000 median (all condo types, including any leasehold), down from $2,500,000. Prices are lower than last year, but this is still a high-end market where building rules, association dues, insurance and zoning deserve as much attention as the view.

Wailea and Mākena sit just south of Kīhei on Maui’s dry, leeward coast. Wailea is a master-planned resort community; Mākena, farther south, is less developed and borders large areas of open land and state park. Here’s what buyers should know about property types, prices and the planning decisions shaping the area.

What is living in Wailea like?

Wailea was developed beginning in 1971 by Alexander & Baldwin and Northwestern Mutual as a master-planned resort of roughly 1,500 acres. Today it includes resort hotels, condominium communities, single-family neighborhoods, the Wailea Golf Club, and shopping and dining at The Shops at Wailea.

A paved coastal path links several beaches, including Polo, Wailea, Ulua, Mōkapu and Keawakapu. Piʻilani Highway (Route 31) connects Wailea to Kīhei and on to Central Maui, where the airport, big-box stores and county offices are.

Farther south, Mākena has fewer buildings, more open land, and Mākena State Park, home to one of Maui’s largest beaches. Mākena also has two golf courses, the North and South courses, which sit within the planned Mākena Mauka project area.

The climate is sunny and dry, and that brings practical considerations: landscaping and water use, sun exposure on finishes, and wildfire preparedness on properties next to open land.

What do homes and condos cost in Wailea and Mākena?

RAM’s September 2026 report shows:

Wailea/Mākena	Jan–Sept 2026	Jan–Sept 2025
Single-family sales	20	11
Single-family median	$2,900,000	$3,850,000
Condo sales (all types)	66	57
Condo median (all types)	$2,085,000	$2,500,000

In September alone, 10 Wailea/Mākena condos sold at a median of $2,222,500, and one single-family home sold for $5,300,000.

For context, the adjacent Maui Meadows neighborhood, which RAM tracks separately, had 13 single-family sales year to date at a $2,360,000 median. Kīhei, just to the north, had a $1,230,000 single-family median and a $596,000 condo median.

Sales volume is low, especially for single-family homes, so medians can swing sharply. Recent comparable sales for a specific community are a much better guide than the area median.

What property types are available?

• Resort and residential condominiums. These range from older low-rise complexes to newer luxury buildings with large floor plans. Monthly association dues can be substantial and cover very different things from one building to another.
• Single-family homes. These include homes within Wailea’s planned subdivisions and larger estate properties in Wailea and Mākena, many with homeowner association rules and design review.
• Vacant lots. Occasionally available in planned subdivisions, usually with architectural guidelines and building timelines.

Most Wailea and Mākena property is fee simple, but always confirm. If a listing is leasehold, the price and financing picture change significantly.

Can you vacation rent a Wailea condo?

It depends entirely on the building. Maui’s Bill 9 (Ordinance 5909), signed December 15, 2025, phases out vacation rentals in apartment-zoned buildings that rely on the 2001 Minatoya opinion, with the South Maui deadline set for the start of 2031. Resort- or hotel-zoned properties are treated differently, and the County Council is still debating which apartment-zoned complexes, mostly in Kīhei, Māʻalaea and West Maui, might be rezoned to new hotel districts.

Before buying with rental income in mind, confirm the property’s zoning, its status under Bill 9, and the association’s own rental rules.

How could Mākena Mauka change the area?

In August, the Maui Planning Commission voted 5-1 to accept the final environmental impact statement for Mākena Mauka, a proposed community of 652 homes (543 market-rate and 109 workforce units) inland of Mākena Alanui. According to Maui Now, the developer plans to build over about 30 years in three phases starting in 2028, and vacation rentals would not be allowed. The project still needs Land Use Commission, County Council and special management area approvals.

For current buyers, that means potential new homes, trails, beach parking and public access improvements in the long run, along with years of construction-related planning decisions.

What should Wailea and Mākena buyers check?

1. Association documents and budgets. Review reserves, recent special assessments and the master insurance policy.
2. Insurance and flood zones. Get quotes early, and check FEMA flood maps for oceanfront and low-lying properties.
3. Zoning and rental rules. Confirm with the County Planning Department and the association.
4. Land tenure. Confirm fee simple vs. leasehold.
5. Financing. Many purchases here exceed Maui County’s 2026 conforming loan limit of $1,299,500, so jumbo loan terms often apply.

FAQ

What is the median home price in Wailea?
RAM reports a Wailea/Mākena single-family median of $2,900,000 for January–September 2026 and a condo median of $2,085,000 (all condo types).

Are Wailea prices dropping?
Both medians are lower than in the same period of 2025, but sales volume is small, so check recent comparable sales.

Is Wailea affected by Bill 9?
Bill 9 applies to apartment-zoned properties that relied on the Minatoya opinion. Zoning varies by building, so verify each property.

What is Mākena Mauka?
A proposed 652-home community inland of Mākena Alanui that has cleared its environmental review but still needs other state and county approvals.

Considering Wailea or Mākena?

From oceanfront condos to homes in Wailea’s planned neighborhoods, every property here comes with its own set of rules and numbers. If you’d like to tour Wailea and Mākena or compare recent sales for a specific community, I’d love to help. Reach out anytime.

Sources: REALTORS® Association of Maui, September 2026 market report; County of Maui (Ordinance 5909); Maui Now (Aug. 26 and 29, 2026); FHFA 2026 conforming loan limits.