Update 11 Jan 2016 In latest Google Maps Android (version 9.18.2 2015) there is now an "Add Label" feature/command available when you view a saved/starred place. See Give a place a private label for detailed instructions.
Old workaround (no longer necessary) After starring a place in Google Maps Android, you can open Google Bookmarks webapps to display your bookmarks. Sort by date to show your latest bookmark and clicking on the
Edit button allows you to edit that place bookmark title. The new title would display in
My Places (now shown as
Your Places) on Google Maps Android. Not an ideal solution, but a workaround involving additional webapps.
Update 13 July 2015 Unfortunately latest Google Maps Android (version 9.11.0 2015) doesn't show the place bookmark titles that you have edited in Google Bookmarks webapps.
- Google Maps Support - Google Maps Mobile - Give a place a private label
- Arstechnica - Google Maps for Android finally adds custom names for places - 22 July 2015
- Android Forum - Google Maps - Label Starred Locations? - 9 April 2010 - provides three workarounds: #9 add suffix "(Title)" to address in Google Maps webapps before starring (not editing on Android); #11 use Google Bookmarks to edit title (solution I chose above); #14 add to contacts and edit contacts names (will search each time use the address in contacts).
- Google Mobile Android Forum - Why can't I edit the name of a "Starred" place on google maps? - 1 June 2011 - mentioned bookmark & contacts solutions above, also registering an address as a business place, then can edit the title.