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.
3959 Lower Honoapiilani Rd, Unit 302, Napili/kahana/honokowai, HI
MLS® #403798
Listed By: Real Broker LLC Office Contact: Ethan@ethankaleiopu.com
Welcome To Unit 302 At The Highly Sought-after Kuleana Resort, Located At 3959 Lower Honoapiilani Rd. In Lahaina. This Beautiful First-floor, 1 Bedroom, 1 Bath Condo Offers Breathtaking Ocean Views And Modern Conveniences. Step Into A Bright And Open Living...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-276-7766
Interior Designer Inspired Complete Remodeled Ocean-view Condo. This Is The Largest 1 Bedroom Floor Plan Available In The Complex.! Size Does Matter. This Unit Is Being Sold Fully Furnished And Turn-key. You'll Appreciate The Modern Beach Chic Aesthetic To ...
Westside Story Is Unit 114 At Mahinahina Beach With 1 Bedroom, One And Half Baths, And 859 Square Feet Interior Offering An Oceanfront Location With A Residential Resort Lifestyle. This Is A Rare Offering At This Boutique Community With 32 Units Situated In...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-280-2055
Maalaea Kai 216 Is A Beautifully Decorated 1 Bed, 1 Bath Oceanfront Condo Offering Stunning Ocean Views The Moment You Step Inside. This Charming Unit Features Tropical Decor, An Inviting Layout, And A Private Lanai Perfect For Enjoying Maui’s Breathtaking ...
4471 Lower Honoapiilani Rd, Unit 410, Napili/kahana/honokowai, HI
MLS® #403208
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-250-1163
Discover Paradise At Kahana Reef#410, Where Oceanfront Living Reaches New Heights Of Luxury And Tranquility. This Top-floor Unit Offers An Unparalleled Experience With Its Sweeping Views Of The Pacific Ocean, Providing The Perfect Vantage Point For Whale Wa...
3723 Lower Honoapiilani Rd, Unit 104, Napili/kahana/honokowai, HI
MLS® #403278
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-891-8989
Do You Like Cruises? If Yes, You'll Love This Ground Floor Vacation Rental On The Front Row At Nohonani, Because When You Look Out The Window You'll Think You're On A Cruise Ship, Except That You Can Go Outside And Play In The Grass! Spectacular Ocean And O...
4365 Lower Honoapiilani Rd, Unit 115, Napili/kahana/honokowai, HI
MLS® #403929
Listed By: Kokua Realty LLC
Lovely One Bedroom, One Bath Home Conveniently Located On The First Floor Of The Royal Kahana Resort With A View Of The Ocean From Lanai And Bedroom. This Oceanfront Resort Is One Of Maui's Best-kept Secrets. The Home Is Currently Used For A Short-term Rent...
3691 Lower Honoapiilani Rd, Unit 110, Napili/kahana/honokowai, HI
MLS® #405317
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-264-3337
Hawaiiana Living At Its Best In This Small Low-rise Complex. Located Next To Honokowai Park Makes For Great Views And Lots Of Green Space. Easy Ocean Access Is Awesome For Families. Located Just North Of Kaanapali Resort Beaches And Whalers Village. Close T...
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: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-866-2334
Spectacular One Bed/bath Oceanfront Beach Condo In Highly Desirable kauhale Makai Resort In North kihei. Commanding Ocean Views Are The Theme In This Extensively Renovated Unit With Great Attention To Detail And Well Thought Out Appointments. Interior Has B...
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Discover Lahaina Shores, A Rare Oceanfront Gem Nestled In The Heart Of Lahaina Town. Unit 523, Perched On The 5th Floor, Offers Breathtaking Views Of The Pacific Ocean And The Picturesque Island Of Lanai, Visible From The Balcony, Kitchen, And Living Areas....
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
