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 B3b, Napili/kahana/honokowai, HI
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Listed By: Sullivan Properties Inc
Kahana Sunset Is A Beloved Landmark Property In West Maui. Unit B3b Is Perfectly Situated On Keone Nui Bay, Offering Breathtaking Sunset Views And Stunning Vistas Of Molokai And Lanai From The Beach Area. This Fully Furnished And Well-equipped One-bedroom, ...
3543 Lower Honoapiilani Rd, Unit J403, Napili/kahana/honokowai, HI
MLS® #405284
Listed By: Maui Westside Properties
J403 Is A Spacious Top-floor, Unit With Stunning Ocean Views. 2 Bedrooms 2 Bathrooms And A Loft. Quad-zone Split Unit Air Conditioning. The Property Is Situated On 13 Tropical Acres And Features Two Oceanside Swimming Pools And Spas, Two Tennis/pickleball C...
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4327 Lower Honoapiilani Rd, Unit 904b, Napili/kahana/honokowai, HI
MLS® #404648
Listed By: Chris Bakeman Realty LLC
Beachfront 1 Bed 1 Bath Short Term Rental, Pool, Bbq, Hotel Zoned. This Is A Great Value. Tenant Occupied Until February 28,, 2025. Buy It Now And Enjoy Your Condo And Watch The Whales In March. Seller Also Selling 903 B Accurate Monthly Hoa Fee Will...
3543 Lower Honoapiilani Rd, Unit H401, Napili/kahana/honokowai, HI
MLS® #402172
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-359-4245
Experience This Stunning Top-floor Corner Unit With A Captivating Loft And Soaring Wood Beam Ceilings. Sweeping Ocean Views From The Comfort Of This Beauty, Set Against The Backdrop Of Lush Tropical Surroundings. Renovated From Top To Bottom, This Residence...
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-281-3553
Step Into Island Living At Hono Kai Unit A16, A 555 Sq Ft, 1-bedroom, 1-bathroom Ground-floor Condo Located In The Heart Of Maalaea, Maui. This Unit Boasts A Private Lanai With A Peaceful Garden View, Providing Seamless Access To The Grass Lawn, Pool, And J...
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...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-318-0833
Welcome To Your Serene Retreat At Hono Kai In Maalaea, Maui! This Beautifully Appointed Ground Floor Condo Offers The Perfect Blend Of Comfort And Style. The One-bedroom Unit Features Modern Amenities Including Cool Split Air Conditioning, Elegant Granite C...
4365 Lower Honoapiilani Rd, Unit 405, Napili/kahana/honokowai, HI
MLS® #402959
Listed By: Quam Properties Hawaii Inc Office Contact: 808-665-1315
A Well-appointed Quaint Studio Condominium Situated On Kahana Beach Shoreline. Royal Kahana Is A Beachfront Resort On The West Side Between The Ka’anapali And Kapalua! This 431 Sq. Ft. Studio Unit Has A King Bed And Twin Sleeper Sofa. Fully Equipped Kitchen...
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Welcome To Waipuilani Condominiums Unit #209 – Your Oceanfront Oasis In Kihei! This Beautifully Updated 1-bedroom, 1-bath Condo Offers A Spacious 680 Square Feet Of Living Space, Enhanced By A Cleverly Converted Lanai That Creates A Bright, Open Main Living...
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MLS® #405327
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-264-4617
Priced To Sell! This 2-bed 2-bath Leasehold Condominium Apartment Has Been Remodeled Throughout With New Kitchen Countertops, Cabinets And Stainless-steel Kenmore Appliances. Both Master And Guest Bathrooms Have Walk In Showers With Decorative Tile Work. Ne...
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MLS® #404940
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This Beautifully Remodeled 1-bedroom, 1-bath Unit At Paki Maui Offers A Bright, Open Floor Plan With Stunning Views Of The Lush Garden. Located On The Top (fourth) Floor With Easy Elevator Access, The Unit Is Ideally Situated Near Shopping, Public Transport...
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
