Roof repairs cost $8,000. Termite control costs several hundred dollars each year. When you add in air conditioning replacements and plumbing repairs, annual expenses can quickly add up. A retiree who has maintained a single-family home in Kahului for over 20 years said he has grown tired of these recurring expenses in recent years. After hearing that moving to a condo could consolidate these costs into a single management fee, he began to seriously explore this option. He realized that being able to predict monthly expenses provides a sense of stability that is surprisingly significant at his age. His biggest concern was that unexpected expenses could disrupt his retirement funding plan. He has increasingly come to the conclusion that paying a fixed monthly management fee would be more comforting.

First, let's look at electricity costs. The residential electricity rate in Kahului is 44.17 cents per kilowatt-hour, which is 6.3% higher than the Hawaii state average of 41.55 cents. Maui Electric supplies the power, and rates tend to be a few cents higher than those on Oahu. In Maui, costs associated with maintaining the roof, exterior walls, and plumbing are considered more significant variables than cooling expenses. Due to the humid and warm climate, issues with termites and mold are common challenges faced by single-family homeowners in Maui.

Next, we consider home prices. As of May 2026, the median price for single-family homes in Maui is $1,174,500, while condos are priced at $597,000. Although these statistics are for all of Maui and may differ from individual Kahului prices, they are worth noting. Compared to a year ago, single-family home prices have decreased by 3.6%, and condo prices have dropped by 20.3%. The significant decline in condo prices has led some to view this as an opportune time to switch to a condo. However, rather than making a hasty decision based solely on short-term price drops, it is essential to factor in the monthly maintenance and management fees as well.

There are three main items to check before retirement.

• Annual maintenance costs: Sum up significant recurring expenses such as roof repairs, termite control, and HVAC replacements based on the last five years for single-family homes.
• HOA fees: If moving to a condo or townhome, check what items are included in the management fees for each listing.
• Property tax exemption: Verify the application status and amount for the homeowner exemption in Maui County.

There is a reason to check these items in order. Maintenance costs can vary each year, but averaging them provides a basis for comparison with condo management fees. HOA fees can vary significantly by complex, so it is necessary to review them individually. The exemption is money that will be missed if not applied for, so it should be addressed last.

Let's take a closer look at the last item. Maui County offers a homeowner exemption that deducts $200,000 from the assessed value for homeowners aged 60 and over. Unlike other Hawaii counties, this exemption applies uniformly regardless of age. The property tax rate is approximately $1.65 per $1,000 of assessed value for owner-occupied homes. Additionally, if the homeowner exemption has been maintained for over five years and property taxes exceed 2% of annual income, a circuit breaker refund can also be applied for. Even if moving to a condo or townhome, this exemption remains applicable as long as the homeowner is 60 or older and resides in the property, so selling a single-family home and moving to a condo does not eliminate this benefit.

Ultimately, in Kahului, it seems that confirming maintenance costs and the applicability of exemptions should take precedence over differences in sale prices. The application deadline is December 31 each year to be effective for the next tax year, so it is crucial not to miss this schedule. After checking these three items in order, a different picture may emerge compared to just looking at sale price differences. In areas like Maui, where materials and labor costs are higher than on the mainland, following this order is especially important. This is not investment or legal advice, and it is recommended to consult with professionals before making any actual contracts.