Posted
by Courtney M. Brown
on Monday, January 27th, 2020 at 12:57pm.
MAUI OCEANFRONT HOMES Market Update, January 2020
View Goals! 1437 Front Street is an oceanfront home for sale in the heart of Lahaina, on historic front street View More Information
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 and activity tend to be highest in the resort areas of West and South Maui, and along the North Shore.
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. Comparing 2019 with 2018, it's noteworthy that the number of sales is down 30% and the sales volume down 57%.
Please note the 2019 statistics no longer include 6 sales in the Makena Resort by Discovery Land Co. that were reclassified in our MLS from Beachfront to Across the Street from the Ocean on 12/13/2019. This removed $60,162,136 million from the oceanfront home sales statistics that were previously posted in the blog post on 11/30/2019. That inventory had increased the average Days on Markets stat as escrow could only close when construction was complete. In addition, the average Sales Price and SP/Sq. Ft. dropped.
It is also worth noting 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. This can mean great opportunities for buyers of oceanfront properties as the inventory has built considerably, with approximately 3 years worth of inventory.
We are already starting to see more pending escrows with 8 homes pending now vs. 4 in 11/2019. It is interesting to note that all but one of the pending sales is under $5,000,000, with a high sale pending at $10,880,000.
Maui Oceanfront Home Sales: Key Metrics 2014 to Present
Year
Sales
Volume
Avg SP
Avg SP$/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
16 | -30%
$64,454,049 | -57%
$4,028,378 | -37%
$1288 | -27%
285 | 28%
88%
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
48
15
14
12
6
1
Low List Price
$750,000
$2,200,000
$3,298,000
$999,000
$750,000
$1,900,000
Average List Price
$8,140,937
$10,882,000
$11,259,571
$4,390,833
$2,551,833
$1,900,000
High List Price
$37,500,000
$37,500,000
$27,498,000
$12,000,000
$6,500,000
$1,900,000
Average LP/Sq. Ft.
$2408
$2889
$3,469
$1178
NA
NA
Pending Sales
8
3
1
4
0
0
Average List Price
$3,671,237
$5,558,333
$3,350,000
$2,336,225
0
0
Supply of Inventory*
36 months
45 months
42 months
48 months
NA
NA
2020 YTD Sales
0
NA
NA
NA
NA
NA
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.
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. The highest asking price in South Maui is $27,498,000.
These compare 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.
Listed By: Coldwell Banker Island Prop-Ku Office Contact: 808-281-8083
Luxury Living At Its Finest, Experience Honua Kai Resort And Spa. World Class Amenities Include, 3 Swimming Pools, 5 Hot Tubs, State Of The Art Fitness Center Valet And Underground Parking. Multiple Poolside Bbq’s, Dukes Beach House, Whalers General Store A...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-250-6754
Welcome To Royal Mauian 612, Where The Soothing Sound Of Waves And Breathtaking Ocean Views Create The Perfect Backdrop For Your Next Chapter. As You Step Inside This Beautifully Renovated 2-bedroom, 2-bathroom Condo, You'll Immediately Feel The Warmth And ...
4531 Lower Honoapiilani Rd, Unit 2b1 (12), Napili/kahana/honokowai, HI
MLS® #402020
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-344-2677
Rarely Does A 3-bedroom, Single-level Beachfront Property Becomes Available…..until Now. Kahana Village 12 Is A 3-bedroom, 2-bathroom, Single-level Leasehold Condominium In A Community That Allows Transient Vacation Rentals.. Sold Furnished With Exceptions....
Listed By: Living Maui Real Estate LLC Office Contact: Cell: 808-359-1161
Welcome To Your Maui Paradise At Kaanapali Alii—turnkey Furnished, Ready For You To Move In. Nestled In The Heart Of Maui's Breathtaking Kaanapali Beach, Kaanapali Alii Resort Combines Luxury And Tranquility To Create An Unparalleled Island Lifestyle. This ...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-757-5113
Whaler 974 - A Premier, Corner Unit On The 9th Floor Of Tower Ii. This Beautiful 1 Bedroom/2 Baths Unit Features An Extra Spacious Wrap-around Lanai With Stunning Views Of The West Maui Mountains, As Well As A Serene Ocean View Across Over The Whaler's Cour...
Listed By: Island Sotheby's Int'l Rlty(W) Office Contact: Cell: 808-283-7965
Look No Further For Your Island Paradise Than This Exceptional Two-bedroom, Two-bath Property, Priced Under $2 Million. Experience The Ultimate In Luxury Living With 1,080 Square Feet Of Thoughtfully Designed Space, Hotel-zoned To Continue As A Successful S...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-250-5948
Welcome To Your Dream Vacation Rental Condominium At Kaanapali Alii, Where Paradise Meets Luxury. This Exquisite Penthouse 2-bedroom, 2-bathroom Condo Offers The Perfect Blend Of Comfort, Convenience, And Breathtaking Mountain Views And Is A Leasehold Prope...
Listed By: Susan Jackson Real Estate Office Contact: Cell: 865-206-1234
We Are Proud To Offer The Ali’i 212 For Sale. Experience The Pure Elegance Of This Completely Renovated Home. Situated On The Highly Desired Ground Floor, This Home Is Located At The Very Popular Ka’anapali Ali’i, One Of Hawaii's Finest Ocean Front Condom...
4531 Lower Honoapiilani Rd, Unit 18 (3b1), Napili/kahana/honokowai, HI
MLS® #402843
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-2420
The Small Kahana Village Leasehold Complex, Zoned A-1, Consists Of Only 28 Two Bedroom And 14 Three Bedroom Units On Over Three Acres Of Land. This Downstairs Three Bedroom, Two Bath Unit Is Quite Spacious (1566 Square Feet And An Additional 196 Square Feet...
3765 Lower Honoapiilani Rd, Unit 308, Napili/kahana/honokowai, HI
MLS® #404187
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-446-4551
Experience Year Around Sunsets With Breathtaking Views Of Crystal Blue Waters Along With Both The Islands Lana'i And Moloka'i From This Direct Oceanfront Residence! Now Available For Your Personal Ownership, Makani Sands #308, Enjoys A Spacious Floor Plan W...
Beautifully Renovated 915 Square Foot Unit With Upgraded Designer Furnishings, Porcelain Tile Flooring And A Queen Bed In The Private Den With West Maui Mountain And Waterfall Views! Great Location Only Steps To The Elevator For Easy Access To The 3 Pool...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-283-6791
Hotel Zoning! Enjoy Spectacular Ocean Views From Both Sides Of This Wonderful Two Bedroom, Two Bath Condominium Unit! From The Living Area, The Main Bedroom, And The Spacious Lanai, There Are Breathtaking Ocean, Keawakapu Beach, Molokini, Kahoolawe, And U...
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.
Courtney M. Brown, R(S) & Team Vice President Island Sotheby's International Realty
