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.
3785 Lower Honoapiilani Rd, Unit 107, Napili/kahana/honokowai, HI
MLS® #403738
Listed By: Hawaii Life (W) Office Contact: Cell: 808-250-2178
Welcome To Kaleialoha 107, Your Stunning Oceanfront Getaway! As You Step Inside This Freshly Painted One-bedroom, One-bath Condo, You'll Be Greeted By Breathtaking Ocean Views That Set The Perfect Backdrop For Your Maui Escape. Enjoy The Convenience Of A Gr...
4365 Lower Honoapiilani Rd, Unit 806, Napili/kahana/honokowai, HI
MLS® #404085
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-264-4617
Enjoy Ocean Views And Majestic Molokai From Your Lanai While Sipping On Your Favorite Beverage. Upgrades Include Durable Simulated Wood Flooring Throughout The Unit, Kitchen And Bath Cabinets, Walk In Tiled Shower, Textured Ceilings, Work Desk And Organizer...
3975 Lower Honoapiilani Rd, Unit 107, Napili/kahana/honokowai, HI
MLS® #401924
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-359-4245
Discover Your Tropical Escape At Polynesian Shores 107. Find Peace Listening To The Soothing Sounds Of The Waves And Inspiration From Brilliant Sunsets Over The Ocean. Explore A Coastline Abundant With Turtles And Sea Life. Watch Humpback Whales Play In Th...
3823 Lower Honoapiilani Rd, Unit 215, Napili/kahana/honokowai, HI
MLS® #402819
Listed By: Berkshire Hathaway Maui Prop-L
Welcome To Hale Ono Loa Residence 215, A Captivating 1-bedroom, 1-bathroom Fee Simple Vacation Rental Condominium Offering An Idyllic Hawaiian Escape. With Its Prime West-facing Orientation, This Residence Boasts Stunning Pacific Ocean Views, Year-round Sun...
Listed By: Island Sotheby's Int'l Rlty(M) Office Contact: Cell: 808-283-9613
This Top-floor Unit At Island Sands Boasts Expansive Ocean Views That Can Be Enjoyed Year-round, Providing A Front-row Seat To The Natural Beauty Of The Pacific. During The Winter Months, You’ll Have The Unique Opportunity To Witness Seasonal Whale Watching...
4909 Lower Honoapiilani Rd, Unit C3c, Napili/kahana/honokowai, HI
MLS® #402659
Listed By: Real Broker LLC Office Contact: hawaiisbest1@gmail.com
Discover Your Maui Paradise At Kahana Sunset C3c Welcome To Kahana Sunset Unit C3c, Your Dream Getaway Just Steps Away From A Stunning Sandy Beach. This Spacious 1 Bedroom, 1 Bath Condo Offers Everything You Need For A Relaxing And Unforgettable Maui Exper...
4471 Lower Honoapiilani Rd, Unit 214, Napili/kahana/honokowai, HI
MLS® #402938
Listed By: Maui Ohana Real Estate LLC Office Contact: 808-280-1090
This Is The Uninterrupted Ocean View You Have Been Waiting For. Choose Oceanfront Kahana Reef 214 And Sea Gaze At Breathtaking Whale Breaches During The Winter, Dolphins Jumping And Turtles Swimming From Your Private Lanai. Experience Mesmerizing Sunsets ...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-870-8668
Welcome To Kanai A Nalu #118 - Beautifully Upgraded, Beachfront, Ground Floor Condo. You Can’t Get Any Closer To The Water! One Of Maalaea’s Finest Beachfront Buildings, Kanai A Nalu Is Just Steps From Sugar Beach - Maui’s Longest Stretch Of Sandy Beach. E...
4365 Lower Honoapiilani Rd, Unit 916, Napili/kahana/honokowai, HI
MLS® #403320
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-205-5201
Enjoy Breathtaking Ocean Views From This Recently Remodeled 9th-floor Studio Condo In The Exclusive “16” Stack At Royal Kahana Resort, The Closest Studio To The Water. With Hotel Zoning, It’s Perfect For Short-term Rentals Or Personal Use. This Beachfront R...
3543 Lower Honoapiilani Rd, Unit C209, Napili/kahana/honokowai, HI
MLS® #402568
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-281-7313
Papakea C209 Has A Great Location In The Resort. It Faces West So Seasonally You Will See Colorful Sunsets Over The Ocean And The Majestic Island Of Molokai. Relax On Your Own Private Lanai And Enjoy Spectacular Ocean Views And Whales Breaching During The W...
Ocean & Mountain Views That Will Never Be Obstructed! Watch The Whales From Your Covered Lanai That Stays Shady Year Round. This Renovated Fee Simple And Vacation-rentable Condo Is Being Sold Furnished And Move-in Ready, And Was Not Used As A Rental Previo...
3543 Lower Honoapiilani Rd, Unit C107, Napili/kahana/honokowai, HI
MLS® #403866
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-344-2677
Located In One Of West Maui Exclusive Oceanfront Condominium Communities, Papakea C107 Is The Perfect, Ground Floor Studio Property. Offering 454 Sq.ft. Of Living Area, This Property Is Centrally Located Within The Community And Offers Ocean, Resort And Gar...
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
