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

Quick Answer: Molokaʻi real estate has the lowest single-family median of any area in Maui County. According to the REALTORS® Association of Maui, Molokaʻi’s single-family median was $491,500 on 20 sales from January through September 2026, versus $1,219,000 countywide. Lānaʻi recorded just six single-family sales at a $672,500 median. Small samples make medians volatile.

I’m Benjamin Finnerty, a REALTOR® in Kīhei with Keller Williams Realty Maui. Most of my work is on Maui island, but Molokaʻi and Lānaʻi are part of Maui County, and I regularly get questions from buyers who see their prices and wonder what the catch is. Here’s what the 2026 data shows, what’s new on each island, and what to check before you buy.

How much do homes cost on Molokaʻi and Lānaʻi in 2026?

Far less than on Maui island in most cases. Here are the year-to-date figures from the REALTORS® Association of Maui (RAM) September 2026 report:

January–September	Sales 2026	Sales 2025	Median 2026	Median 2025
Molokaʻi single-family	20	22	$491,500	$515,000
Molokaʻi condo	24	18	$195,000	$209,988
Lānaʻi single-family	6	5	$672,500	$550,000
Lānaʻi condo	5	1	$2,575,000	$188,000
Maui County single-family (all areas)	537	527	$1,219,000	$1,300,000
Maui County condo (all areas)	620	512	$655,000	$702,500

Read the Lānaʻi condo line with care. Five sales at a $2,575,000 median, compared with one sale last year, tells you which units happened to sell, not what a typical Lānaʻi condo is worth. The same caution applies to any area with a handful of sales.

Always confirm whether a specific listing is fee simple or leasehold; leasehold properties often sell for less because the land is leased rather than owned. I explain the difference in my post on leasehold vs fee simple on Maui.

What is the Molokaʻi Voluntary Deed Restriction program?

It’s a County of Maui pilot that pays eligible Molokaʻi homeowners up to $100,000 in exchange for a 25-year deed restriction on future sales. The County Department of Housing opened applications May 4, 2026, with a May 29 deadline, and said it expected to serve about five households, using a lottery to set the order of review.

Per the County’s announcement, as reported by Maui Now, The Maui News and Hawaiʻi Public Radio:

• Owners had to occupy the home as their primary residence, own no other residential property and have household income below 140% of the County’s area median income.
• The restriction runs with the property for 25 years and binds later owners.
• During that period, a sale must go to an income-qualified Maui County resident household at a price the County calculates, and the County has a right of first refusal.

Why this matters to a buyer: if you’re looking at Molokaʻi homes, a title report will show whether a property carries a deed restriction like this. A restricted home can be a good fit for an eligible buyer, but it isn’t the same as an unrestricted resale.

What housing is being built on Lānaʻi?

Lānaʻi’s notable 2026 project is Kaiāulu O Lānaʻi, a 72-unit rent-to-own development. Hawaii News Now called it the island’s first for-sale affordable housing project in more than 35 years. Hawaiʻi Public Radio reported that a blessing was held February 18, 2026, that construction was expected to begin in 2026, and that residents can rent for 15 years and then buy. Eligibility and pricing are set by the program, so check with the County Department of Housing for current details.

Do Bill 9 and other Maui County rules apply on Molokaʻi and Lānaʻi?

Yes. Bill 9 (Ordinance 5909), signed December 15, 2025, applies countywide. Outside West Maui, apartment-zoned Minatoya List units lose their vacation rental use on January 1, 2031, unless rezoned. If you’re considering a condo for rental income on either island, confirm its zoning and status with the County before you count on any rental scenario. My Bill 9 market guide explains the phase-out.

What should you check before buying on Molokaʻi or Lānaʻi?

Beyond price, logistics drive the decision. These are the property-level questions I’d answer first:

• Access: Both islands are reached by inter-island flights, and Lānaʻi also has passenger ferry service from Maui. Check current schedules and costs for how often you’ll travel.
• Water and wastewater: Confirm the water source, any meter or service limits, and whether the home is on sewer, septic or a cesspool.
• Contractors and materials: Repairs and renovations can take longer and cost more when crews and supplies come from another island. Get bids before you close if work is needed.
• Insurance and financing: Get homeowners insurance quotes early, and confirm with your lender that the property and any condo project qualify.
• Internet and services: Confirm the actual internet service available at the address, plus distance to medical care, groceries and fuel.

My Take: What I’m Telling Buyers

The lower prices on Molokaʻi and Lānaʻi are real, but the sample sizes are tiny. Twenty Molokaʻi home sales in nine months means one or two unusual sales can move the median. I’d look at individual comparable sales near the property, not the island-wide median, before deciding what a fair offer is.

I’d also treat these as “visit first” markets. Spend time on the island, see how the trip works in practice, and talk with local contractors and insurers before committing. For deed-restricted or program homes, read the restriction documents line by line with your attorney.

If you’re comparing a Molokaʻi or Lānaʻi home with options on Maui island, my Maui home prices by area guide is a good next read.

General information, not tax or legal advice; confirm deed restrictions, zoning and title matters with a Hawaiʻi attorney.

Frequently Asked Questions

What is the median home price on Molokaʻi in 2026?
$491,500 for single-family homes, January through September 2026, on 20 sales, per the REALTORS® Association of Maui.

Are Molokaʻi and Lānaʻi part of Maui County?
Yes. Both islands are in Maui County, and county rules such as Bill 9 apply there.

Can I still apply for the Molokaʻi deed restriction grant?
The 2026 pilot application window closed May 29, 2026. Check the County Department of Housing for any future rounds.

Why is Lānaʻi’s condo median so high?
Only five condos sold through September 2026, so the median reflects those specific sales, not a typical unit.

Ask Benjamin

If you’re comparing islands within Maui County, I can help you look at the numbers and the logistics side by side. I’m Benjamin Finnerty, a REALTOR® in Kīhei with Keller Williams Realty Maui. Call or text 808-481-9748 or email benjamin@the808team.com.

Sources: REALTORS® Association of Maui (September 2026 and year-to-date report); County of Maui Department of Housing via Maui Now (May 5, 2026), The Maui News and Hawaiʻi Public Radio (May 8, 2026); Hawaii News Now (March 4, 2026); Hawaiʻi Public Radio (March 5, 2026); County of Maui (Ordinance 5909).