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.
4095 Lower Honoapiilani Rd, Unit 109, Napili/kahana/honokowai, HI
MLS® #403163
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-345-7654
Rare Offering. This Special 1 Bedroom, 1 Bath Condominium At Noelani Was One Of The First Picks By The Original Owners In 1975 And Has Been In The Family Ever Since. Its Location Is Perfect: Private With A Park-like Setting, Yet Close To The Gated Pool And ...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-250-9356
Enjoy True Tropical Living In This Highly Desirable 2 Bedroom 2 Bathroom Ground Floor Apartment. Luana Kai Is A Short Distance To The Ocean. Take In Some Of The Most Beautiful Maui Sunsets, Or Watch The Whales Swim By In The Channel With Views Of Lanai. Thi...
Welcome To Your Dream Oceanfront Getaway In Beautiful Maui! This Fully Furnished Vacation Rental Condo Is A True Gem, Boasting A Fresh Coat Of Paint That Enhances Its Coastal Charm. Embrace The Convenience Of Modern Living With Brand-new Appliances, Includi...
3543 Lower Honoapiilani Rd, Unit G201, Napili/kahana/honokowai, HI
MLS® #401929
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-281-7313
Relax On The Lanai Of Papakea G201, Nestled Above The Tranquil Koi Ponds, You Look Out Over One Of The Two Pools Putting Green Of The Resort And Enjoy Views Of The Blue Pacific And The Majestic Island Of Molokai. The Condo Features Granite Countertops Throu...
Come View One Of The Largest 1-bedroom Floorplans On The Market! Experience Maui Beachfront Living With This Beautifully Renovated 1-bedroom, 1-bathroom Condo At Kauhale Makai. Located On The Fourth Floor, Unit 429 Offers Ocean Views And Gentle Breezes. Rec...
3543 Lower Honoapiilani Rd, Unit G107, Napili/kahana/honokowai, HI
MLS® #403292
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-281-7313
Paradise Found Only 50' From The Ocean! When The Owners First Visited Papakea They Knew They Had Found Their Home In Paradise. Papakea Resort Is An Oceanfront Resort With A True Feeling Of Aloha, From The Ground Floor Unit, In The Desirable G Building, You ...
3445 Lower Honoapiilani Rd, Unit 612, Kaanapali, HI
MLS® #403879
Listed By: Real Broker LLC Office Contact: ReneSellsMaui@gmail.com
Hotel Zoned. This One-bedroom, One-bath Ocean & Mountain View Unit Is Located On The North-facing Quiet Side Of Kaanapali Shores. The Owner Has Upgraded The Entire Lanai Sliding Door And Side Windows And Updated The Bathroom Ceiling With Led Lighting. Oc...
3543 Lower Honoapiilani Rd, Unit C206, Napili/kahana/honokowai, HI
MLS® #402267
Listed By: Carrington Real Estate Svc US Office Contact: Cell: 808-357-4181
Relax On The Lanai Of Papakea C206, Nestled Above Serene Koi Ponds, With A Breathtaking View Of The Blue Pacific Ocean And The Majestic Island Of Moloka'i. Overlooking One Of The Resort's Two Pools And A Lush Putting Green, This Condo Offers A Tranquil Ret...
Unit C-203 Recently Underwent A Full Renovation As Of October 2022 . This 1 Bedroom, 1 Bath Ocean View Unit On The 2nd Floor Is Located In One Of The Most Desirable Locations In The Complex. The Unit Is Situated In A Quiet Location Away From South Kihei Roa...
4909 Lower Honoapiilani Rd, Unit D4, Napili/kahana/honokowai, HI
MLS® #402690
Listed By: 808 Maui Realty & Prop Mgmt LLC
Unique Opportunity To Own At Kahana Sunset. Updated Condo, Beautiful Sandy Beach, A Favorite Vacation Rental Property. Possible Owner Financing Buyer To Do Due Diligence Regarding Possible Assessment For Beach Reclamation Project.
3445 Lower Honoapiilani Rd, Unit 817, Kaanapali, HI
MLS® #402860
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 817. This Is A Leasehold Hotel Zoned Property. Spectacular Location. 8th Floor 2 Bedroom 2 Bathroom. Excellent Ocean Views From The Remodeled Suite. Offering Granite Counter Tops, New Carpeting Throughout, And Custom Cabinetry. If You Are ...
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Discover A Hidden Gem In Maalaea: Makani A Kai, Is A Charming Boutique Beachfront Complex. This Exceptional Property Features A Prime Location, Offering Seamless Access To South Maui, West Maui, And Central Maui. Close To Shopping, Restaurants And Beaches. ...
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
