The Kahului, HI metro area housing market in February 2025 presents a complex landscape characterized by significant shifts in pricing and sales dynamics. The Median Sales Price has surged to $1,250,000, marking a substantial year-over-year increase of 31.6%. This rise indicates a strong demand for homes, despite other indicators suggesting a cooling market.

Conversely, the Median List Price has decreased by 13.6% year-over-year, now standing at $1,050,000. This decline suggests that sellers may be adjusting their expectations in response to changing market conditions. The median Price Per Square Foot has increased by 10.2% to $947.71, while the Median List Price per square foot has decreased by 12.4% to $953.07, reflecting a divergence between buyer and seller expectations.

Sales activity has slowed, with the number of Homes Sold dropping by 23.6% year-over-year to 97 units. Pending Sales have also decreased by 19.6%, totaling 148. This decline in sales activity is further highlighted by the increase in inventory, which has risen by 47.2% to 1,291 homes. The Months of Supply have dramatically increased by 640% to 13.3 months, indicating a shift towards a buyer's market.

The Median Days on Market have increased by 34% to 101 days, suggesting that homes are taking longer to sell. The average sale to list ratio has slightly decreased by 0.7% to 96.1%, indicating that homes are selling closer to their list prices. The percentage of Homes Sold above list price has decreased by 2.6% to 12.4%, further emphasizing the cooling market conditions.

Price Drops have increased by 6.6% to 19.4%, indicating that sellers are more frequently reducing prices to attract buyers. Additionally, the percentage of homes going off the market within two weeks has decreased by 15.1% to 20.3%, suggesting a slower pace of transactions.

Overall, the Kahului housing market is experiencing a period of adjustment, with rising sales prices juxtaposed against declining list prices and sales activity. This environment presents both challenges and opportunities for buyers and sellers navigating the current market dynamics.