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.
3741 Lower Honoapiilani Rd, Unit 104, Napili/kahana/honokowai, HI
MLS® #405099
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-280-5054
Unobstructed Panoramic Ocean And Island Views Await! This Ground-floor, Oceanfront Unit At Kulakane Is Your Personal Slice Of Paradise, Offering Breathtaking Year-round Sunsets, Mesmerizing Vistas Of The Blue Pacific, And Front-row Seats To Seasonal Whale W...
4471 Lower Honoapiilani Rd, Unit 214, Napili/kahana/honokowai, HI
MLS® #405106
Listed By: Maui Ohana Real Estate LLC Office Contact: 808-280-1090
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 And The Serene Beauty Of The Neighboring Islands, Lanai And Molok...
Listed By: Maui Real Estate Advisors LLC Office Contact: 808-875-4444
Maui Kai 402 Is Located In The Heart Of Kaanapali With Some Of The Most Amazing Ocean And Outer Island Views. Relax On Your Covered Lanai Surrounded By The Sounds Of The Surf And The Rolling Waves While Enjoy The Turtles Below And The Whales Actively Playi...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-283-3055
The Perfect Location: An Oceanfront Coastal Experience, Enjoy Sailing At The Maalaea Yacht Marina, While Turtle And Whale Watching. The Expansive Ocean Views And The Islands Of Molokini And Kaho’olawe Are Breathtaking, View Sunrises Over Haleakala, And View...
4435 Lower Honoapiilani Rd, Unit 212, Napili/kahana/honokowai, HI
MLS® #405159
Listed By: Maui Real Estate Advisors LLC Office Contact: 808-875-4444
Pohailani 212 Is A Stunning Ocean Front Unit With Jaw Dropping Views. You Will Spend Hours Watching The Whales Breach And The Sea Turtles Grazing Along The Expansive Reef With The Waves Rolling Across. Inside, You Will Discover A Well Appointed And Highly...
3875 Lower Honoapiilani Rd, Unit A104, Napili/kahana/honokowai, HI
MLS® #402264
Listed By: Living Maui Real Estate LLC Office Contact: Cell: 808-359-1161
Residents And Guests Alike Relish The Experience Of Living At Hale Mahina. This Oceanfront Complex Boasts A Low Density, With Fewer Than 60 Owners, Ensuring Ample Space To Soak In The Stunning West Maui Sunsets, Enjoy Expansive Lanais, And Revel In The Priv...
4327 Lower Honoapiilani Rd, Unit 502, Napili/kahana/honokowai, HI
MLS® #404147
Listed By: Compass Office Contact: 808-283-0492
The Swaying Palms Of Paradise Await At Valley Isle Resort Residence 502. This Turnkey 1-bedroom, 1-bathroom Oceanfront Home Is Hotel Zoned And Accommodates 4 Guests, Making It The Perfect Getaway. Savor Your Morning Coffee Or Unwind From The Day's Adventure...
3445 Lower Honoapiilani Rd, Unit 817, Kaanapali, HI
MLS® #402860
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 817. This Is A Leasehold Hotel Zoned Property. Spectacular Location. 8th Floor 2 Bedroom 2 Bathroom. Excellent Ocean Views From The Remodeled Suite. Offering Granite Counter Tops, New Carpeting Throughout, And Custom Cabinetry. If You Are ...
4095 Lower Honoapiilani Rd, Unit 117, Napili/kahana/honokowai, HI
MLS® #404286
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-345-7654
Excellent Value. Noelani Is A Boutique Condominium Community Situated On The Shoreline Near S Turns Beach, A Popular Beach And Surf Spot. This Studio Unit Has A Front Row Seat For Your Ocean View Experience Of Turtle Watching, Seasonal Whale Watching, And Y...
3959 Lower Honoapiilani Rd, Unit 310, Napili/kahana/honokowai, HI
MLS® #405017
Listed By: AA Oceanfront Rentals & Sales Office Contact: valkyrie@aaoceanfront.com
Kuleana Ii Is An Oceanfront Property And Unit 310 Is Nicely Appointed Overlooking The Pool With Ocean Views. This One Bedroom One Bath Turnkey Unit Is Sold Furnished. The Unit Has Been Recently Updated And Has Been Used As A Short Term Rental. Property Feat...
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MLS® #405588
Listed By: NextHome Hometown Realty Group
Wake Up To The Sound Of Gentle Waves And Panoramic Views Of The Pacific From This Beautifully Furnished Studio Condo At The Valley Isle Resort In Scenic Kahana Maui. Located On The Seventh Floor, This Unit Offers sweeping Beachfront And Ocean Views, Perfect...
When This Fifth Floor Condo Was Remodeled It Was Done By One Of Oldest And Most Respected Firms In West Maui And Condo Looks Like Was Redone Yesterday. Maple Cabinets, Granite, Stainless Steel Tilefloors And Mirrored Closet Doors. The High Quality Of This...
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
