Homeowners contest inflated condo appraisals during Lahaina meeting

The Maui County Council meeting on May 27, 2025, highlighted significant concerns regarding property appraisals in a local condominium complex. During the public testimony, a resident, Mr. Cook, raised issues about the appraisal process used for his property and others in the Grand Champion complex.

Mr. Cook explained that the appraisals were based on outdated sales data from a period of inflated prices, specifically referencing a lack of recent sales for one and two-bedroom units. He noted that the only comparable sale was from a year prior, which occurred before the Lahaina fires and during a market peak. This led to concerns that the current appraisals did not accurately reflect the current market conditions.

He further detailed that the appraised values for his unit were significantly higher than expected, with assessments reportedly inflated by as much as $800,000. Mr. Cook expressed frustration that the homeowners association had not addressed these appraisal discrepancies and mentioned that only a few residents had appealed their assessments, despite many being elderly and facing challenges in navigating the process.

The discussion underscored the broader implications of property valuation practices in Maui County, particularly in light of recent economic shifts and natural disasters. The council members acknowledged Mr. Cook's concerns and indicated a willingness to look into the matter further, emphasizing the need for fair and accurate property assessments in the community.