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.
4401 Lower Honoapiilani Rd, Unit B 701, Napili/kahana/honokowai, HI
MLS® #404087
Listed By: Keller Williams Realty Maui-Ki Office Contact: Cell: 808-344-3584
This Beautiful 2-bedroom Corner Unit On The 7th Floor Of Hololani’s B Building Offers Breathtaking Ocean With Molokai And Lanai Views. West Maui Mountain Views From The Second Bedroom.enjoy Beautiful Sunsets And Whale Watching From Your Lani. This Unit Feat...
4401 Lower Honoapiilani Rd, Unit A704, Napili/kahana/honokowai, HI
MLS® #403918
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-463-2445
Experience This 2 Bedroom, 2 Bath Corner Unit At Hololani With Oceanfront Living. Located On The Seventh Floor, This Condo Offers Year-round Sunset Views And Breathtaking Vistas Of Molokai And Lanai. Enjoy Watching Whales, Turtles, And Surfers Right From Yo...
3300 Wailea Alanui Dr, Unit 25c, Wailea/makena, HI
MLS® #405315
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-250-6754
This Charming, Private Ground-floor 1-bedroom, 1-bathroom End-unit Is Flooded With Natural Light And Has Been Meticulously Maintained. From The Spacious Living Area, Kitchen, And Extended Tiled Lanai, You'll Enjoy Beautiful Views Of The Lush Garden. The Uni...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-357-4219
Experience The Tranquility Of Maui In This Beautifully Appointed Two-bedroom Condominium At Menehune Shores, This Oceanfront Retreat Offers Stunning South-facing Views Of The Pacific Ocean, Perfect For Watching Sunsets And Enjoying The Gentle Ocean Breeze. ...
Total Luxury At Pikake. This Beachfront Downstairs Condo Offers A True Oceanfront Oasis. Escape To Paradise With Our Newly Remodeled Ground Floor Condo At The Pikake In Maui! Experience True Luxury With This One-bedroom, One-bathroom Beachfront Oasis Locate...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-250-9356
Enjoy Spectacular Ocean Views From This Highly Desirable 2 Bedroom 2 Bathroom Oceanfront Condominium. Take In Some Of The Most Beautiful Maui Sunsets, Or Watch The Whales Swim By In The Channel With Views Of Lanai. This Completely Remodeled Apartment Offer ...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-891-8989
Did You Say You Want Ocean View? Well, Here You Go! This Upgraded Maui Sunset 2 Br/2 Ba Condo With Huge Views Of The Ocean, Maalaea Harbor, West Maui Mountains, The Island Of Lanai, And Amazing Views Of Haleakala From The Bedrooms! From Your Kitchen, Living...
3543 Lower Honoapiilani Rd, Unit J401, Napili/kahana/honokowai, HI
MLS® #403529
Listed By: Maui Westside Properties
J401 Is A Beautiful Top-floor, Corner Unit With Stunning Ocean Views That Is Well-maintained With Yearly Improvements. Most Recently, New Lvp Flooring Was Installed Throughout The Condo, Along With Double-pane Windows, New Furniture, And A Tri-zone Split Un...
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...
Listed By: Island Sotheby's Int'l Rlty(M) Office Contact: Cell: 808-283-9613
Experience The Ultimate Beachfront Lifestyle With This Stunning Direct Oceanfront Condo At Sugar Beach Resort! Located On The Tranquil Shores Of North Kihei, This Property Offers Breathtaking, Unobstructed Views Of The Pacific Ocean, Miles Of Golden Sand, A...
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MLS® #405416
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 529 - Discover The Perfect Blend Of Comfort And Luxury In This 2-bedroom, 2-bath Unit Located At The Beachfront Resort Of Kaanapali Shores. With Breathtaking Views Of The Pacific Ocean And Molokai And Lanai In The Background, This Mid-level...
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
