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 A303, Napili/kahana/honokowai, HI
MLS® #402773
Listed By: Greg Smith Broker Inc
Hololani Is A Low Density Property With Only 64 Units Located In 2 Eight Story Buildings. The Hawaiian Word Hololani Translates To "gone To Heaven" Or "heaven". It Can Evoke Images Of Tranquility And Celestial Beauty, And Some Say It Embodies The Essence Of...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-866-3074
Enjoy The Ocean Breeze From Your Own Lanai Here On South Maui. This Charming One-bedroom, One-bathroom Unit Is Located On The 2nd Floor And Is Nestled In A Perfect Tropical Oasis For Your Home Or Dream Vacation. The Unique Amenity-rich, Beachfront Paradis...
Fantastic Ocean View From This Fully Furnished One Bedroom, One Bath Unit. Papakea Is A Friendly Oceanfront Resort Known For Its Lush Tropical Landscaping, Swimming Pools, Bbqs, Jacuzzis, Putting Greens, Shuffleboard Etc. Units Here Are Individually Owned A...
Sugar Beach Resort On Maui's South Shore Rests On Five Miles Of Sandy Beach. This Hotel Zoned Resort (which Allows For Vacation Rentals) Has Been Updated To A Modern Refreshing Home Away From Home And Is Sold Turn-key. An End-unit It Boast An Additional Win...
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...
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 E205, Napili/kahana/honokowai, HI
MLS® #405145
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-359-4245
Experience The Beauty Of Maui From This Nicely Updated Vacation Rental With Breathtaking Ocean Views. Stay Cool And Comfortable Year-round With A Split-system Ac In Both The Living Room And Bedroom, Updated Window Coverings, And New Sliding Glass Doors. Nes...
5315 Lower Honoapiilani Rd, Unit H165, Napili/kahana/honokowai, HI
MLS® #405180
Listed By: Hawaii Life (W) Office Contact: Cell: 808-283-2222
This Pristine and Updated One-bedroom, One-bathroom Condo Offers A Perfect Mix Of Resort-style Living And Hawaiian Charm In One Of Maui's Most Coveted Locations. Napili Shores' Hotel Zoning Provides Remarkable Flexibility For Both Personal Use And Generatin...
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...
Turn Your Compass To Napili Shores F-252 Where You Will Find, Beautifully Kept Hotel Zoned One-bedroom Ocean View Condo That Is 100 Yards To Napili Bay. This Vacation Rental Residence Features Ocean, Molokai Island, Gazebo Restaurant, And Verdant Mauna Kah...
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MLS® #399736
Listed By: Hawaiian Islands Mgmt LLC
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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
