Maui Oceanfront Homes: Market Overview November 2019
Posted
by Courtney M. Brown
on Saturday, November 30th, 2019 at 3:13pm.
MAUI OCEANFRONT HOMES Market Update, November 2019
1437 Front Street is an oceanfront home for sale in the heart of Lahaina, on historic front street View More Information
Update 1/27/2020: Since this post was written, the classification of 6 sales in Makena was changed from Beachfront to Across the Street from the Ocean. These sales totaled $60,162,136. As they were developer sales the escrow could only close once construction was complete, so they had a very high Days on Market Count, averaging 1202 days on market.
As such, the statistics and summary below have changed. Please see the post written 1/27/2020 for updated statistics.
Maui has several areas with oceanfront homes: West Maui, South Maui, North Shore, East Maui and Central Maui. As you will see below, the home prices tend to be highest in the resort areas of West and South Maui.
There are broad fluctuations in price depending on whether the property is beachfront or oceanfront; whether it is on a rocky shoreline or cliffside without water access; and the age, condition and size of the home.
Over the past five years, oceanfront home sales have consistently seen a volume of around 20/year, with a low of 13 sales in 2015, and a high of 25 sales in 2017. Looking at this year (YTD vs. 2018), the average sales price remains fairly consistent, yet the average Sales Price ($) per square foot has increased to $1902/sq. ft. It is interesting to note, that oceanfront homes are selling at a lower percentage of the asking price than the prior year as well as with a longer average days on market.
Maui Oceanfront Homes: Market Snapshot by Area
Active Listings, Pending Sales and YTD Sales
Oceanfront Homes
All Maui
West Maui
South Maui
North Shore
East Maui
Central Maui
Active Listings
50
17
14
12
7
0
Low List Price
$750,000
$2,200,000
$3,500,000
$999,000
$750,000
Average List Price
$7,962,899
$11,359,705
$9,963,785
$4,006,416
$2,494,285
High List Price
$37,500,000
$37,500,000
$29,750,000
$12,000,000
$6,500,000
Average LP/Sq. Ft.
$2183
$2869
$2497
$1261
NA
NA
Pending Sales
4
0
2
2
0
0
Average List Price
$3,699,500
NA
$3,724,000
$3,675,000
NA
NA
Supply of Inventory*
27.5 months
37.4 months
17.1 months
44 months
91 months
NA
2019 YTD Sales
20
5
2
3
NA
3
Low Sales Price
$321,300
$600,000
$3,450,000
$3,400,000
$321,300
Average Sales Price
$6,318,559
$4,184,999
$9,801,348
$5,341,666
$403,016
High Sales Price
$13,950,000
$9,000,000
$13,950,000
$8,600,000
$565,000
Sales Volume 2019 YTD
$126,371,185
$20,924,999
$17,400,000
$16,250,000
0
$1,209,050
Average SP/Sq. Ft.
$1902
$1382
$2813
$1705
$234
*based on past 11 months of sales, with the exception of East Maui, which required going back to 2018. With only one sale in 2018, the sale was then multiplied by a factor of 13
There is often a misperception that we see more sales in the Wailea/Makena Market. What is important to note is that there are far fewer oceanfront homes in resort areas in West Maui than in Wailea/Makena. For example, there are only 6 oceanfront homesites in Kaanapali's only oceanfront residential neighborhood, Kai Ala Place. Similarly, there are just five oceanfront homesites in Kapalua Place, Kapalua's only oceanfront residential neighborhood. Wailea/Makena are larger-scale resorts, with more oceanfront residential communities such as Keawekapu Beach, Maluhia, Makena Place, the Makena Beach Cottages, and Black Sands, as well as homes scattered along the Makena Coastline that aren't part of a formal subdivision. Kihei's Halama Street is also a popular area with beachfront homes stretching along the shoreline.
Maui Oceanfront Home Sales: Key Metrics 2014 to Present
Year
Sales
Volume
Avg SP
Avg SP$/sq. ft.
Avg DOM
SP/LP
2014
21
$90,443,000
$4,306,810
$1504
287
91%
2015
13 | -62%
$55,075,000 |-64%
$4,235,538 | -2%
$1793 | 16%
214 | -34%
93%
2016
22 | 41%
$139,062,000 | 60%
$6,321,000 | 33%
$2878 | 38%
219 | 2%
84%
2017
25 | 12%
$146,765,387 | 5%
$5,870,615 | -8%
$1533 | -88%
274 | 20%
92%
2018
23 | -9%
$148,197,545 | 1%
$6,443,372 | 9%
$1759 | 13%
222 | -23%
91%
2019 YTD
20 | -15%
$126,371,185 | -17%
$6,318,550 | -2%
$1902 | 8%
554 | 50%
88%
The highest-priced listing on the island is located in the Kapalua Resort: 9 Bay Drive is an 8B/8.5 acre estate situated on 9.97 acres. It is currently offered at $37,500,000, reduced from $49,000,000. This compares with a high sales price of $27,000,000 for an oceanfront estate in 2011 in Makena. 7150 Makena Road is a 4B/5.5B home on 1.69 acres. To date, the largest sale on Maui for a private residence that was actually across the street from the ocean, in Keauhou, Makena $41,750,000 in 2015 (not in MLS) .
It should be noted--with such a small sampling, the statistics can vary widely at any given time, and the above are MLS statistics. Additional properties have changed hands privately and are not entered in MLS. For more information on all areas of Maui read: Maui Real Estate Statistics.
4909 Lower Honoapiilani Rd, Unit A7, Napili/kahana/honokowai, HI
MLS® #404355
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-359-4245
Discover This Exceptional Direct Oceanfront Location With Unobstructed Ocean And Sunset Views And Views Of The Outer Islands Of Molokai And Lanai. Enter A Spacious Chef’s Kitchen That Opens To An Elegant Dining / Living Room And Outdoor Space. There Is A H...
Listed By: Maui Real Estate Advisors LLC Office Contact: 808-875-4444
Welcome To Your Beautiful Ocean And Mountain Views From This Beautiful 2-bedroom, 2-bathroom Condo In South Maui. This Is A Hotel-zoned Oceanfront Condominium Complex. Currently Operating As A Highly Rated Vacation Rental With Consistent "exceptional" Guest...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-250-5948
One Of The Most Highly Desirable 1 Bedroom 2 Full Bath Floor Plans At Mahana. Fabulous 3rd Floor Offers A Unique Perspective Of The Beach And Sea Life With Amazing Ocean Views And The Neighbor Islands Of Lana'i And Moloka'i. Panoramic Views Of The Pacific O...
5295 Lower Honoapiilani Rd, Unit B35, Napili/kahana/honokowai, HI
MLS® #405407
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-463-2445
This Beautifully Upgraded One-bedroom, One-bathroom Condo Offers Stunning Views Perched Above Honokeana Bay, With Expansive Panoramas Of Lanai And Molokai. It's The Ideal Spot To Soak In Maui's Legendary Sunsets And, During The Season, Watch Migrating Whale...
3445 Lower Honoapiilani Rd, Unit 102, Kaanapali, HI
MLS® #403603
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 102. Discover Your Paradise In This Exquisite 2-bedroom, 2-bathroom Condo, Boasting Over 1,500 Sq. Ft. Of Luxury Living. The Master Bedroom Offers Breathtaking Ocean Views, While The Second Bedroom Also Gazes Out To The Sparkling Waves. Enj...
3445 Lower Honoapiilani Rd, Unit 423, Kaanapali, HI
MLS® #405396
Listed By: Century 21 Island Homes
Experience The Epitome Of Beachfront Living At Aston Kaanapali Shores #423. Hotel Zoned And Located Perfectly On The Fourth Floor, This Resort Style Condominium Offers Two Bedrooms, Two Bathrooms, And Accommodations For Up To Six Guests. A Spacious Private...
3445 Lower Honoapiilani Rd, Unit 304, Kaanapali, HI
MLS® #405204
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-276-8776
Kaanapali Shores 304 - If You Are Looking For A Luxurious Oceanfront Condo At A Price Point From Four Years Ago, You’ve Found It! From Your Private Lanai, You Will Enjoy Watching And Hearing The Waves Break. If You Love The Idea Of Being Lulled To Sleep By ...
Brilliant, Breathtaking, Stunning—all Words To Describe The Twin Island And Year-round Sunset Views You’ll Experience When Entering This Remodeled And Fully Furnished 1 Bedroom, 2 Bath Condominium In The Mahana--one Of Maui’s Most Sought After Beachfront Re...
3445 Lower Honoapiilani Rd, Unit 204, Kaanapali, HI
MLS® #404636
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-357-0958
Kaanapali Shores 204 - Available To See On April 20th Experience Luxurious Beachfront Living In This Exquisite Two-bedroom, Two-bathroom Unit At Kaanapali Shores. Perfectly Situated For Stunning Ocean Views, This Condo Features A Spacious And Stylish Full-s...
Wake Up To Stunning Panorama Views In This Oceanfront Condo In Highly Desired Luana Kai. Watch The Spectacular Sunsets And The Whales As They Swim By Or Take In The Views Of Lanai, Kahoolawe, Molokini, Maalaea Bay And The West Maui Mountains. This Unit Is ...
Live And Love Direct Beachfront Kaanapali: Maui Life At Mahana #508 Features Unsurpassed Views And Oceanic Sensory Experience. Envision Floor To Ceiling: Ocean, Outer Island, Year-round Sunsets, And Seasonal Whale Watching. Muse On Swaying Palm Trees, Liste...
4365 Lower Honoapiilani Rd, Unit 520, Napili/kahana/honokowai, HI
MLS® #403709
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-283-3055
Royal Kahana Is A Unique Oceanfront Property, A Classic Hotel Zoned Resort. 520 Offers A Stunning Remodeled Interior, Luxury, Comfort And Style Meet An Oceanfront Playground. The Spacious Open Floor Plan Offers Two Bedrooms And Two Baths, Separated By The L...
This information is provided by the Realtor's Association of Maui. It is believed accurate, but subject to change. Readers are advised to do their own due diligence. vision figures for both condos and home sites. Some condo and some homesites have been combined to be one property. This is not reflected in the number above. Above information on total properties is provided by Fidelity National Title and is believed to be accurate but is subject to change.
Courtney M. Brown, R(S) & Team Vice President Island Sotheby's International Realty
