Molokai Market December Snapshot and 2025 Year-End Review

Molokai real estate doesn’t move in straight lines, and December is usually a good reminder of that. Activity tends to slow at the end of the year, one or two sales can skew the numbers, and headlines don’t always tell the full story. That’s why pairing the December snapshot with a look back at the full year provides better perspective.

December 2025 and Year-End Review

As we begin 2026, the takeaway from December and the year as a whole is consistent with what we have been seeing for much of 2025: inventory remains elevated, buyers are taking their time, and properties that are priced and presented well continue to stand out.

December 2025 Snapshot

Single-Family Homes

December finished with one single-family home sale, matching the activity seen in December 2024 and reflecting the typically quieter pace at year end. Inventory remained steady at 24 homes for sale, up modestly from 21 homes on the market one year earlier.

With only one sale, pricing metrics need to be viewed carefully. Both the median and average sold price came in at $455,000, lower than late-fall numbers and lower than December of last year. That shift reflects the specific home that sold rather than a broader change in values.

What stands out more is how that home sold. It closed at 102% of its list price, a reminder that even in a slower, buyer-leaning market, well-priced homes can still generate strong results. Months of inventory ended December at 24 months, reinforcing that the single-family segment remains firmly in buyer’s-market territory.

Condos

Condominiums recorded four sales in December, a slower pace than earlier in the fall but a noticeable improvement over December 2024, which saw just one sale. Inventory continued to trend lower, ending the year at 37 condos for sale, compared to 49 at the end of 2024.

Prices held relatively steady. The median condo sold price on Molokai was $157,000, while the average sold price came in at $154,000, both higher than the prior year’s December figures. Where condos continue to tell an important story is in negotiation, with December sales closing at approximately 81% of list price, signaling that buyers remain selective.

One underlying factor influencing the condo market is the uncertainty surrounding Maui County Council Bill 9, which restricts short-term vacation rentals in apartment-zoned buildings. While only two of Molokai’s five condominium complexes are directly affected, the lack of final clarity has created hesitation across the broader condo market, impacting buyer sentiment even in complexes not subject to the bill.

Land

Vacant land on Molokai posted two sales in December, modest activity but an improvement over the same month last year. Inventory closed the year at 40 active land listings, down from 47 one year earlier.

Prices pulled back from some of the higher land sales seen earlier in the fall, but still finished well above last year’s December levels. The median and average sold price both came in at $140,000, reflecting the specific parcels that sold. Land closed at about 94% of list price, showing continued negotiation, but also steady interest for the right properties.

Months of inventory ended December at 20 months, keeping land squarely in buyer’s-market conditions despite improved year-over-year inventory levels.

Looking Back at 2025

When we step away from the month-to-month noise, the full-year picture becomes clearer for Molokai real estate.

Single-Family Homes slowed in 2025, with 26 total sales, down from 36 in 2024. Prices softened slightly but remained relatively stable overall. The median sold price finished at $483,000, and homes sold at about 96% of list price on average. The most noticeable change was time, as homes generally took longer to sell compared to the prior year.

Condominiums were the most active segment by volume in 2025, closing 31 sales, up from 22 the year before. At the same time, prices moved lower overall, suggesting a shift in the mix of units sold rather than a lack of demand. Buyers were active but selective, and days on market increased, reinforcing the importance of pricing and condition. Added to this was ongoing uncertainty around short-term rental regulations. Although Bill 9 applies to only a limited number of Molokai complexes, questions around implementation and long-term impacts contributed to more cautious decision-making across the condo market as a whole.

Vacant Land showed quiet improvement. The year closed with 17 land sales, up from 14 in 2024, while inventory declined. Both median and average land prices finished higher than the year before, pointing to continued long-term interest in Molokai land, even as buyers remained cautious and diligent.

Market Takeaway

If there is a single theme running through December and all of 2025, it is this: Molokai remains a functioning market, but not a rushed one.

Buyers have options and time. Sellers who prepare carefully and price realistically are still seeing solid results. The gap between successful sales and listings that linger often comes down to expectations set at the beginning.

Let’s Connect

Whether you are considering buying, selling, or simply trying to understand how these trends apply to a specific property or neighborhood, I am always happy to talk story and help put the data into context. On Molokai, the numbers matter most when they are paired with local insight.

Aloha,
Rob Stephenson
Hawai‘i Life Real Estate Advisor
Molokai