Is Maui's real estate crash a golden opportunity? 🤔

I’ve been keeping an eye on property prices, and it looks like Maui’s market is taking a major hit. A year ago, one property I looked at dropped from $800K to $550K in just one year—and it's still falling. So, is this a buying opportunity or a red flag? 🤨 Maui's property values were already high due to tourism and the beautiful environment, but after last year's devastating wildfires, things have changed. The government’s new restrictions on short-term rentals are making a lot of properties drop in price. I almost pulled the trigger on an investment property, but the high mortgage rates, expensive insurance, and HOA fees made me hesitate. Despite the potential for rent increases, I just couldn’t make it work with the costs involved. Would you risk it and buy, or is this just too much to take on right now? 🤷‍♀️ #MauiRealEstate #InvestmentOpportunities #PropertyMarket