Steven Tyler — Topless in Maui

A newly engaged Steven Tyler exercised his right to bare chest yesterday in Maui — celebrating the New Year with a topless Speedo-clad snorkeling excursion … not far from his new fiancee.

Steven and his lady Erin Brady have been spending a lot of time in Maui recently — and as TMZ first reported … even hired a local spiritual leader to come bless their new Hawaiian home.

TMZ broke the story … Steven and Erin got engaged on the DL last month — and Steven’s family was pissed they got left out of the loop.