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

Quick Answer: Kapalua real estate sold at a median of $1,342,500 for condos and $5,450,000 for single-family homes from January through September 2026, according to the REALTORS® Association of Maui, down from $1,602,500 and $7,625,000 a year earlier. Sales were thin, 18 condos and 5 homes, and a pending water and sewer rate case is a key item to check.

I’m Benjamin Finnerty, a REALTOR® in Kīhei with Keller Williams Realty Maui, and here’s what the 2026 numbers and news mean for anyone looking at Kapalua real estate. Kapalua, at the northwest end of West Maui, is one of the island’s highest-priced areas, and in a small market like this, a few sales can swing the median a long way. That makes local due diligence even more important than the headline figure.

How much do Kapalua condos and homes cost in 2026?

Kapalua condo prices are lower than a year ago, and single-family sales have been very limited. Here’s how RAM’s year-to-date figures compare:

Kapalua (Jan-Sept)	2026 sales	2026 median	2025 sales	2025 median
Condos	18	$1,342,500	18	$1,602,500
Single-family homes	5	$5,450,000	9	$7,625,000
Maui County condos (all areas)	620	$655,000	512	$702,500
Maui County single-family (all areas)	537	$1,219,000	527	$1,300,000

Source: REALTORS® Association of Maui, Monthly Indicators, September 2026 (current as of Oct. 1, 2026).

In September 2026 alone, RAM recorded three Kapalua condo sales at a $1,489,000 median and two single-family sales at a $5,444,500 median.

With only five home sales so far this year, I wouldn’t read the 28.5% drop in the single-family median as a market-wide price cut. It mostly reflects which homes sold. The condo median, down about 16.2% on the same number of sales, is a more useful signal, but it still depends heavily on which complexes and unit sizes traded.

What’s happening with Kapalua water and sewer rates?

A rate increase request is pending before the state Public Utilities Commission. Hawaiʻi Water Service, which serves about 1,500 Kapalua customers, asked the PUC (Docket No. 2025-0220) for a $2.22 million revenue increase, about 59% over current revenues, plus pass-through charges for power costs and for water it buys from Maui Land & Pineapple’s watershed.

Maui Now reported the company’s sample bill for 15,000 gallons a month would rise from $66.41 to $134.33 for water and from $66.41 to $108.72 for wastewater, before the proposed riders. The PUC held a public hearing on February 2, 2026, and Hawaii News Now reported in March that the commission expected to decide sometime in 2026. I could not find a final decision as of October 13, 2026, so check the docket before you buy.

For buyers, the practical step is to ask how water and sewer are billed: to the owner directly, or through the association. If it’s through the HOA, ask whether the budget accounts for a possible increase.

Why was the PGA Tour event at Kapalua canceled?

The Sentry, the PGA Tour’s season opener at Kapalua’s Plantation Course, was canceled for 2026 amid drought and water restrictions that damaged the course. In April 2026, the Associated Press reported the PGA Tour would not hold an event in Hawaiʻi in 2027, the first such year in 56 years.

The Kapalua golf course owner and Maui Land & Pineapple have also been in litigation over water supply. For buyers of properties near the courses, I’d ask the association or seller how course conditions, views and any club amenities have been affected, and avoid assuming the past few years’ event-week activity will return.

Does Bill 9 affect Kapalua condos?

It can. Bill 9 (Ordinance 5909, signed December 15, 2025) phases out transient vacation rentals in apartment-zoned properties on the Minatoya List, with a January 1, 2029 deadline in West Maui, which includes Kapalua. Kapalua’s condo complexes don’t all share the same zoning or rental rules, so confirm the zoning, the association’s rental rules, and whether the complex is affected by Bill 9 or any pending hotel-rezoning resolution for the exact unit you’re considering. My Bill 9 guide explains the timeline.

My Take: What I’m Telling Kapalua Buyers and Sellers

For buyers, Kapalua’s 2026 condo prices are lower than last year’s, but with so few sales, every property needs its own comparison. When I compare condo complexes, I look at what each one offers in amenities, the association’s history of financial decisions, and the total HOA costs and what they cover. In Kapalua, I’d add two items to that list: how water and sewer are billed, and how the complex’s zoning and rental rules line up with your plans.

For sellers, a thin market means pricing needs to be built from the handful of truly comparable recent sales, not from the year-to-date median. Be ready to explain to buyers how your association is handling utility costs and insurance.

If you’re also considering nearby areas, see my guides to Kāʻanapali condos and homes and Nāpili, Kahana and Honokōwai.

Frequently Asked Questions

What is the median condo price in Kapalua in 2026?
$1,342,500 for January through September 2026, based on 18 sales, per the REALTORS® Association of Maui.

Are Kapalua water rates going up?
Hawaiʻi Water Service has requested a 59% revenue increase for its Kapalua water and wastewater divisions. The PUC’s decision is pending as far as I could confirm on October 13, 2026.

Is Kapalua affected by Bill 9?
Kapalua is in West Maui, where Bill 9’s phase-out deadline for affected apartment-zoned vacation rentals is January 1, 2029. Whether a specific complex is affected depends on its zoning and status.

Will the PGA Tour return to Kapalua?
The 2026 event was canceled, and the Tour said it will not hold a Hawaiʻi event in 2027. No return has been announced.

Ask Benjamin

If you’re considering Kapalua real estate, I can pull the recent sales for the specific complex or street you’re interested in and help you work through the zoning and HOA questions. I’m Benjamin Finnerty; call or text 808-481-9748 or email benjamin@the808team.com.

Sources: REALTORS® Association of Maui, Monthly Indicators, September 2026; Hawaiʻi Public Utilities Commission (Docket No. 2025-0220 hearing notice, Jan. 30, 2026); Maui Now (Feb. 5 and Feb. 28, 2026); Hawaii News Now (Mar. 4, 2026); Associated Press via Fox Sports (Apr. 2026); CBS Sports; County of Maui (Bill 9).