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.
3615 Lower Honoapiilani Rd, Unit 123, Napili/kahana/honokowai, HI
MLS® #404211
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-359-4245
Listen To The Soothing Sounds Of The Ocean And Breathe The Fresh Salt Air. This Larger Two-bedroom Two-bath Floor Plan Features Two Ocean View Lanais. There Is Plenty Of Room To Spread Out Whether You Are Working From Home Or Gathering Around The Large Dini...
Spectacular Year-round Sunsets And Ocean Views Greet You At This Unique, Oceanfront Concrete Condominium. With Easy Elevator Access, Off-street Parking, And A Beautiful, Sheltered Pool And Hot Tub Area, This Popular Destination Resort Offers A Truly Luxurio...
Listed By: Island Sotheby's Int'l Rlty(W) Office Contact: Cell: 808-280-0086
Hotel Zoned. Breathe In This Coastal Chic Brand New Remodel (2023). Absolutely Stunning Renovation Complete With Quartz Countertops, Lux Appliances, Brushed Moderne Brass Fixtures And Custom Wood Working Throughout. En Suite Laundry. Pets Of All Sizes Allow...
4007 Lower Honoapiilani Rd, Unit 113, Napili/kahana/honokowai, HI
MLS® #404826
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-345-7654
Mahinahina Beach Presents A Pet-friendly Residential Oceanfront Community With Resort-style Amenities. This Fully Furnished Two-bedroom, Two-bath Single-level Condominium Is Turnkey And Offers The Comfort Of A Single-family Home. The Kitchen Features Stainl...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-357-5000
Welcome To Wailea Ekahi #3d, A Rare Studio Offering Known As The “treehouse Retreat”. Nestled On The Second Level, This Charming Unit Boasts High Vaulted Ceilings And A Lanai Surrounded By Lush Greenery, Including Plumeria Flowers, Hibiscus, And Palm Trees ...
Listed By: Maui Real Estate Advisors LLC Office Contact: 808-875-4444
Imagine Waking Up To The Sound Of Waves, Stepping Onto Your Private Lanai, And Being Greeted By Blue Ocean Views. Welcome To Sugar Beach Resort#408, A Beautiful Hotel Zoned Beachfront Retreat Where Your Maui Beach Lifestyle Thrives. From The Moment You Ente...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-276-5330
Stunning Oceanfront Retreat At Koa Lagoon. Experience Breathtaking Ocean Views From This Third-floor Koa Lagoon Condo! The Property Boasts A Prime Location With A Heated Pool And Lush Open Space, All With A Panoramic View Of The Ocean. The Condo Embraces A ...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-250-6754
Welcome To Kamaole Nalu, Located In The Heart Of Kihei Right Between Kamaole Beach 1 And Kamaole Beach 2. This Is A 2 Bed And 2 Bath Oceanfront Hotel Zoned Vacation Rental Property. The Unit Is Fully Furnished And Ready For Occupancy, Featuring A New Sleepe...
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...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-446-5350
Zoned Hotel/resort......wonderful Opportunity To Own A Sunset Ocean View Beachfront Condo On The Sand At Sugar Beach Resort. #406 Features A Very Short Stroll Right On The Grass To The Beach. An Oceanview With Year Around Western Exposure Sunsets. Watch The...
4401 Lower Honoapiilani Rd, Unit A-103, Napili/kahana/honokowai, HI
MLS® #403984
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-357-4000
Wonderfully Remodeled Ground Floor 2bd Unit At Hololani, With An Expanded Kitchen To Allow More Counter Space And More Storage. The Floorplan Was Reconfigured To Allow Larger Bedrooms And More Functional Bathrooms. There Really Isn't Another Unit Like A103...
Listed By: Island Sotheby's Int'l Rlty(W) Office Contact: Cell: 808-344-4714
Fresh, Breezy And Refreshing, This Second Level Corner Unit Is Beaming With Sunlight As It Sits Perfectly With A Broad View Of The Pacific Ocean. Enjoy Both The Mountain And Ocean View From The Expansive Lanai Off The Living Room, While Cooking In The Kitc...
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
