Commercial Real Estate Market in Makawao, HI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
16 active listings and 134 off-market properties in Makawao, HI. Commercial property asks $6,948/SF to buy and $12.00/SF/Yr to lease.
Market Trends
Makawao, HI spans 43.3 square miles in Maui County, Hawaii. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Makawao, HI runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Makawao, HI runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Makawao, HI runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Makawao, HI runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Market overview
Demographics & Economy
Makawao, HI has 18,512 residents in 6,816 households. Density runs 428 people per square mile. Median household income here is $105,942 and median gross rent $1,794 a month.
18,512
Population
6,816
Households
2.7
Avg Household Size
42
Median Age
33%
College-Educated
95%
High-School Grad
43.3 sq mi
ZIP Area
428
Density / Sq Mi
$105,942
Median Household Income
$47,226
Median Earnings
$1,794
Median Rent
$905,400
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Makawao?
Commercial property in Makawao, HI asks an average of $6,948 per square foot. The 3 most recent recorded sales traded at a median of $285/SF, so asking sits 2342% above the achieved median.
How much does it cost to lease commercial space in Makawao?
Asking lease rates in Makawao, HI average $12.00 per square foot per year.
Where does Realmo's Makawao market data come from?
Realmo compiles Makawao, HI figures from 5 recent recorded sales, 15 active sale listings, 1 active lease listings, 134 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 October 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 15 active for-sale and 1 active for-lease listings in Makawao, HI. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level, industrial vacancy is reported at West region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
