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.
3875 Lower Honoapiilani Rd, Unit B402, Napili/kahana/honokowai, HI
MLS® #403923
Listed By: Real Broker LLC Office Contact: janice@buyandsellmaui.com
Welcome To Hale Mahina B402. This Spacious 2 Bedroom Unit Is Nicely Upgraded And Just Steps From The Warm And Crystal Clear Ocean. Enjoy Views Of Lanai, Molokai, Sea Turtles, And Whales, During Whale Season. This Condo At 1440 Square Feet And Features Many ...
110 Kaanapali Shores Pl, Unit 108, Napili/kahana/honokowai, HI
MLS® #404096
Listed By: Greg Smith Broker Inc
Oceanfront And Sunset Views: Beautiful Remodeled Ground Floor Condo. This Convenient Ground Floor Unit Mahana 108 Is Exquisitely Furnished To Provide The Ultimate In Kaanapali Luxury On The Quiet North End Of The Development In The Molokai Building. Both T...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-866-8084
Gorgeous Oceanfront Views Of Maalaea Bay - Off The Beaten Path. Away From Crowds. Oceanfront Condo – Renovated – Fee Simple – 2bed/2 Bath – Currently Being Used For Short Term Vacation Rentals As Allowed By The Minatoya Act – Which May Change. This 4th Flo...
3543 Lower Honoapiilani Rd, Unit A-301, Napili/kahana/honokowai, HI
MLS® #402250
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-2420
Papakea Is A Vacation Resort Oceanfront Complex, Zoned A-2, At The North End Of World Famous Kaanapali That "has It All" ...two Pools, Tennis/pickleball Courts, Hot Tubs, Gazebos And Two "real Grass" Putting Lawns. A-301 Is Considered To Be Located In One O...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-987-2490
Watch The Whales Play And Turtles Nest From Your Own Oceanfront Condo. Maalaea Banyans Unit 412 Gives You Breathtaking Views Of The Shoreline All The Way To Makena And To The Outer Islands Of Kahoolawe And Lanai. It Is Spectacular! The Owners Remodeled An...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-866-2334
Spectacular Beachfront Two Bed/two Bath Condo In Highly Desirable Kauhale Makai Resort In North Kihei. Extensive Renovation Completed Early 2024 With Custom Curated Finishes Throughout To Create A Contemporary, Modern Feel Complimenting Quintessential Maui ...
4909 Lower Honoapiilani Rd, Unit D6, Napili/kahana/honokowai, HI
MLS® #402823
Listed By: Realty ONE Group Pacifica Office Contact: Cell: 808-250-6901
Located Centrally In D-building, This Unit Offers One Of The Most Stunning Ocean Views At Kahana Sunset, Overlooking The Beautifully Maintained Grounds. A Comprehensive Tear-out And Remodel In 2015 Resulted In A Design That Is Unique To Kahana Sunset. Notab...
3543 Lower Honoapiilani Rd, Unit G407, Napili/kahana/honokowai, HI
MLS® #403216
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-281-7313
Papakea G407 Is The Perfect Place For A Family Vacation Or A Romantic Escape.this Is A Fully Remodeled 851 Square Foot 2 Bedroom 2 Bath, The Second Bedroom Is A Loft Bedroom. From Your Fourth-floor Lanai, You Have 180-degree, Beautiful Views Of The Ocean, S...
Discover The Unparalleled Tranquility Of Mahinahina Beach Condos, An Exclusive Enclave In West Maui Where Only 32 Units Ensure A Serene, Resort-like Atmosphere Free From Short-term Rentals. Rarely Available, This First-floor Oceanfront Unit Offers An Expans...
4007 Lower Honoapiilani Rd, Unit 212, Napili/kahana/honokowai, HI
MLS® #404149
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-7873
This Condo Was Taken Down To The Studs And Brilliantly Remodeled In 2023 With Full Time Living In Mind. The Mahinahina Beach Condos, With Only 32 Units, Is The Only Oceanfront Condominium Complex That Does Not Allow Short Term Rentals In West Maui, Creating...
Listed By: Island Sotheby's Int'l Rlty(W) Office Contact: Cell: 808-385-6564
This Beautifully Remodeled 2nd Floor Unit Is Oceanfront And Hotel-zoned Making It A Perfect Vacation Spot. Koa Lagoon Offers Spectacular Ocean And West Maui Mountain Views With Lush Landscaped Grounds And A Sandy Beach. It's Got It All! Upon Entering You Ar...
3543 Lower Honoapiilani Rd, Unit G302, Napili/kahana/honokowai, HI
MLS® #402831
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-281-7313
Relax On Your Own Private Lanai And Enjoy Spectacular Blue Pacific Ocean Views. Papakea G302 Is A Two-bedroom Two-bath Fully Furnished Condominium And Features The Highly Sought After One-level Floor Plan With The Master Bedroom On The Oceanfront Side Which...
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
