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-KP Office Contact: Cell: 808-757-5113
Amazing Opportunity To Own An Ocean-view 1 Bedroom At The Whaler On Kaanapali Beach! Beachfront Living At Its Finest On One Of The Best Beaches In The World. Spend Your Winters Looking At Maui's Beautiful Humpback Whales Breaching In The Distance. The Whale...
Menehune Shores #619 – Rare Oceanfront Penthouse In Hotel (h-m) Zone! Welcome To Menehune Shores #619, A Rarely Available Top-floor Penthouse Offering Breathtaking Direct Oceanfront Views. This Exceptional Property Boasts Panoramic Vistas Of The Pacific, C...
The Maui Beachfront Condo Dream Comes True At Kamaole One #10. Gorgeous, Wide Expanse Of Golden Sand On One Of Maui's Best Beaches, Charley Young Beach (north End Of Kamaole 1 Beach) Beckon, As Well As The Blue Ocean Beyond, Visible From This 2 Bedroom/2 B...
3445 Lower Honoapiilani Rd, Unit 102, Kaanapali, HI
MLS® #403603
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 102. Discover Your Paradise In This Exquisite 2-bedroom, 2-bathroom Condo, Boasting Over 1,500 Sq. Ft. Of Luxury Living. The Master Bedroom Offers Breathtaking Ocean Views, While The Second Bedroom Also Gazes Out To The Sparkling Waves. Enj...
4909 Lower Honoapiilani Rd, Unit A8, Napili/kahana/honokowai, HI
MLS® #404094
Listed By: Lilikoi Realty
This Is An Active Vacation Rental. Stunning Views Await You! This Condo At Kahana Sunset Resort Is Nestled In Its Tropical Paradise On The Beach. It's Close To Napili Market Place, Located Between Kahana And Kapalua. From Beautiful Sunsets To A Lovely Sand...
Kailani Suite At Hana Kai Resort. Spectacular 1 Bedroom 1 Bathroom Ocean Front Property Condo In Hana. Top Floor Corner Unit. Panoramic Ocean View With Sounds Of The Ocean From Every Room. Maintenance Fee Includes Electric, Refuse, Water, Common Areas, Laun...
Konea 110 Is A Unique Opportunity To Own A Spacious One-bedroom Ground-floor Residence At The Coveted Honua Kai Resort Zonned Hotel So Now Worries About Being Able To Rent. It Is The First Ground-floor One-bedroom Unit To Become Available Since March 2022, ...
Listed By: Susan Jackson Real Estate Office Contact: Cell: 865-206-1234
Take Advantage Of The Rare Opportunity To Own A Full Sized One-bedroom Home At Honua Kai Which Boasts Majestic Mountain, Resort And Ocean Views. Situated On The Southern Side Of The Hokulani Tower, This Home Has It All! Meticulously Cared For, 714 Offers ...
3543 Lower Honoapiilani Rd, Unit L205, Napili/kahana/honokowai, HI
MLS® #403212
Listed By: Maui Rentals and Realty LLC
Completely Unobstructed Views Of The Ocean, Lana'i And Moloka'i From Both The Master Bedroom And The Lanai From Papakea L205! This Second Floor Two Bedroom, Two Bath Unit, Features Granite Countertops, Custom Cabinetry, Newer Window Treatments, Split Zone A...
Listed By: The Maui Real Estate Team Inc Office Contact: Cell: 808-283-3868
A Beautiful, Uncrowded Stretch Of Coastline. A Quiet Pool Area By A Small Cobblestone Beach. Charming Cottages Nestled Among Soaring Coconut Palms And Majestic Monkey Pod Trees. It Kind Of Sounds Like A Bygone Era Doesn't It? For The Lucky Owners At Alaeloa...
3765 Lower Honoapiilani Rd, Unit 307, Napili/kahana/honokowai, HI
MLS® #402370
Listed By: Kapalua Properties Ltd
Location,location,location.wow. Here Is Your Chance For Year Round Sunsets And Crystal Blue Waters From The Shore To Lanai And Molokai In A Direct Oceanfront Residence. 3 Bedrooms, 2.5 Bathrooms With Central A/c Ready To Live In Or See It As A Clean Pallet ...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-870-4899
Hokulani 244 Has Been Recently Updated With Bosch Appliances, Water Heater, Newer Carpet And Living Room Furniture. Excellent Rental History On This Partial Ocean View Property! This Ocean View Property Is Ready To Become Your Home At Honua Kai. Enjoy Your ...
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
