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Coldwell Banker Global Luxury Real Estate Market in Review 2025
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Every January, Coldwell Banker Global Luxury provides a year-in-review report for the global luxury real estate market. It is a wealth of information that provides in-depth analysis, supported by data, helping add context and color to what we are seeing here on Maui in our own luxury market.
While the general Maui real estate market has been down due to a variety of factors (bill 9, interest rates, rising insurance premiums, etc) the luxury market showed resilience while navigating the current set of geopolitical and economic factors and was able to preserve values better during this market cool-down period.
The Trend Report, as it is called, is a fairly long read and, I must say, an exceptionally well-written report. So, I’ve taken my Sunday afternoon to read it all and am going to do my best to summarize it here.
Key Themes of Luxury Real Estate in 2025
Luxury Remains Resilient
While 2025 was not a good year for the overall real estate market around the USA and on Maui, luxury properties fared better during this downturn in transactions and in value growth. Maui has echoed this feature of the global luxury market.
The values in the broader Maui real estate market declined significantly in 2025. Yet, luxury areas like Wailea, Ka’anapali, and Kapalua did not experience the same level of value declines.
It’s true that affluent buyers have become much more discerning, and there are certainly some deals to be had in the market, but premium properties will still command a premium.
Generational Wealth Creation Through Long-Term Real Estate Investments
The report notes that since 2020, wealth has increased 58.2% for those with a net worth over $ 5 million, coupled with a 59.9% growth in real estate investments.
Coldwell Banker Global Luxury projects that $4.6 trillion in real estate will be transacted around the world in the next 10 years, almost half of which will trade in the United States.
More luxury buyers are seeking a safe haven for their capital against increasingly volatile asset markets and see an opportunity to align their lifestyles with long-term wealth-creation goals for their children and grandchildren.
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The ‘Must Haves” in a Luxury Home For Buyers
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Location remains the biggest driver of luxury home buying. Having the best unit in the complex, the home with the best view in the neighborhood, or the most unforgettable oceanfront setting will always turn heads.
The luxury properties that are selling more easily are newer, more recently remodeled, and require minimal work to make them suitable for the buyer. Buyers understand that the market favors them, and they are making intentional, calculated purchases.
Inventory has been on the rise in Maui’s luxury markets. Although it has not burgeoned as much as the broader market. Buyers are enjoying more opportunities, and the discerning buyers ready to act feel like they have great options for their next acquisition.
Luxury Condo Listings Around Maui
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Understanding The Evolution of Buyer Motivations
From the Trend Report:
"The key evolution is that affluent buyers have decoupled short-term macro noise from long-term real estate strategy. Instead of reacting to the news cycle, they’ve tuned themselves to their personal economic stability, long-term financial plan, and desire for high-quality living environments. In this fashion, luxury real estate has become more of a lifestyle asset than a cyclical financial one. Even when macro conditions shift, buyers with strong liquidity and a strategic mindset treat volatility as an opening to secure standout properties, rather than a deterrent."
Luxury Prices Are Holding Firm
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Coldwell Banker's Global Luxury analysts project that 2026 will be a year of stability in the luxury real estate market. A balance has returned to the market, with good opportunities for both buyers and sellers. Nationally, the luxury market’s sales growth outpaced the traditional market’s growth, with the luxury market's sales increasing 2.9% while the traditional market’s sales increased 1.7%.
In my experience, Maui’s luxury markets are more stable because a large percentage of properties have full or majority cash equity ownership. Without the weight of a mortgage, sellers will be more reluctant to let properties go for less than what they think they are worth.
As a result, what we call ‘anomaly sales’ or ‘distressed sales’ in a luxury complex or neighborhood, where a property sells below what most would consider market value, have less of a chance to significantly affect comp values.
Browse Condos For Sale Around Maui
The Global Luxury Trend Report Cites Significance of Having the Right Agent on Your Side
"Navigating this increasingly complex market environment will place greater responsibility on agents to help their clients interpret conditions and make informed decisions. Affluent buyers and sellers aiming for the best outcomes in the year ahead will need more than transactional support.
They need strategic advisors who can contextualize market signals, assess long-term value, compare opportunities across regions, and align their guidance with both personal objectives and broader economic realities. The Coldwell Banker Global Luxury® program will continue to serve as a key resource for professionals operating in this nuanced landscape."
Sellers Have Become More Intentional in the Luxury Space
The decision to sell in the current market isn’t based on locking in gains and/or taking advantage of market conditions. Sellers have been less likely to list unless it is a calculated decision based on a need to relocate or to strategically reallocate their real estate assets.
The Trend Report indicates that “luxury sellers have started acting more like portfolio managers than reactive market participants. Their decisions are being shaped by broader financial considerations -liquidity needs, tax exposure, capital gains implications, and cost-of-capital visibility.”
In particular, on Maui, we have also seen sellers making geopolitical decisions to sell, which we haven’t really seen before. Maui has always been a destination loved by Canadians, and Maui has always loved and welcomed its Canadian friends.
Unfortunately, since the inauguration of the current US administration, Canadian owners are increasingly feeling the need to derisk their US assets, and/or are disconcerted by US leaders' threats to Canada's sovereignty.
Understandably, they have had to make tough decisions about their US real estate holdings and even their travel plans to the US. My hope is that this is just a speed bump in US/Canada relations, and we can put all of that in our rear-view mirror as soon as possible.
Wailea Homes For Sale
Kapalua Luxury Neighborhoods
Ka'anapali Homes For Sale
Minimizing Capital Risk Through Real Estate Holdings
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With market volatility and broader economic uncertainty around the impacts of tariffs, the wealthy have been doubling down on luxury real estate. Maeen Shaban, Director of Research and Analytics at Altrata, notes:
“Price appreciation, strong demand, and growing direct investment by private investors have supported steady nominal growth since 2020.”
Shaban goes on to add that:
“For ultra-high-net-worth individuals and family offices, property ownership provides stability, diversification, and a hedge against inflation while also offering strategic advantages, whether it's tax planning, residency, or intergenerational wealth preservation.
Final Thoughts
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While 2025 was the slowest year for real estate sales on Maui since the depths of the recession in 2009, it was my best year in the business personally.
I was able to close just over 40M in sales and was able to represent a wide variety of great clients on a variety of exceptional properties. Most exceptional of all was Wailea Point 101, which closed for 12.6M in April of 2025. I also represented the buyers on a beautiful, new-construction luxury home in Mahana Estates in Kapalua for close to 8M, and represented both the buyer and seller of a wonderful 2-acre estate sale in Launiupoko.
I do my best to focus on luxury properties on Maui; however, my main focus is on helping any and all clients that I’m fortunate enough to have reach out to me for assistance. So, I'm proud to sell at all price points in all communities on Maui.
Keeping the pulse of the market for both buyers and sellers is critical to helping them make informed decisions, while staying educated about local real estate planning and State/County policy decisions helps us avoid any missteps.
If you have any questions about the market or are looking for someone who will put your best interests first while representing you, please feel free to give me a call at 808-214-4799 or email me at evan@mauieliteproperty.com
Evan Harlow ranks among the best real estate agents on Maui annually and is in the top 1% of Coldwell Banker agents worldwide in production. Evan has the expertise,
experience, and work ethic to help you achieve your real estate buying and selling goals. We promise
exceptional service and support from the beginning of the process through closing and beyond. See what Evan's clients are saying on Google. Get In Touch With Evan!
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