Maui Oceanfront Market Update: January 2020

Posted by Courtney M. Brown on Monday, January 27th, 2020 at 12:57pm.

MAUI OCEANFRONT HOMES
Market Update, January 2020

Maui Oceanfront home for sale

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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.

View Current Home Listings: Oceanfront, Beachfront and Across the Street from the Ocean

388 Properties Found. Page 23 of 33

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REDUCED 5% Photo of Listing #401850

$875,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 3.46 Acres
  • 777 ft²

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4365 Lower Honoapiilani Rd, Unit 907, Napili/kahana/honokowai, HI

MLS® #401850

Listed By: West Maui Luxury Property

Visitors To Royal Kahana Are Enchanted By The Resort's Unique Blend Of Natural Beauty And Unparalleled Hospitality. Nestled Along The Pristine Shores Of The Pacific Ocean, This Tranquil Getaway Provides Breathtaking Views Of The Azure Waters And The Nearby ...

Welcome To Paradise At Luana Kai B111 In Beauti...

Photo of Listing #403284

$875,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 3.97 Acres
  • 643 ft²

Residential

940 S Kihei Rd, Unit B111, Kihei, HI

MLS® #403284

Listed By: Maui International R E Srvs

Welcome To Paradise At Luana Kai B111 In Beautiful Kihei, Maui! This Spacious And Airy Condo Offers A Relaxing Retreat With Stunning Garden Views And Cool Island Breezes. Enjoy Resort-style Living With Amenities Such As A Sparkling Pool, Hot Tub, And Barbec...

Royal Kahana 607 Is A Fee Simple Vacation Renta...

REDUCED 4% Photo of Listing #401318

$870,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 3.46 Acres
  • 777 ft²

Residential

4365 Lower Honoapiilani Rd, Unit 607, Napili/kahana/honokowai, HI

MLS® #401318

Listed By: Berkshire Hathaway Maui Prop-L

Royal Kahana 607 Is A Fee Simple Vacation Rental Condominium Located On The North West Wing Of The Building. Unit 607 Has An Open And Bright Floor Plan With Spectacular Views Of The Pacific Ocean And Outer Islands. The Unit Is Appointed With Island Style F...

Ocean & Sunset Views! Designer Condo With Cust...

REDUCED 10% Photo of Listing #401460

$869,999 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 4.51 Acres
  • 613 ft²

Residential

145 N Kihei Rd, Unit 210, Kihei, HI

MLS® #401460

Listed By: Maui International R E Srvs

Ocean & Sunset Views! Designer Condo With Custom Details – One Of The Best Remodels At Sugar Beach Resort. This Gorgeous Unit Was Completely Renovated From Top To Bottom. Contemporary Design With All The Modern Touches Provide A Lasting Impression On Eve...

Welcome To Your Dream Retreat At The Beautiful ...

Photo of Listing #403756

$850,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 2.67 Acres
  • 768 ft²

Residential

3959 Lower Honoapiilani Rd, Unit 207, Napili/kahana/honokowai, HI

MLS® #403756

Listed By: Carrington Real Estate Svc US
Office Contact: Cell: 808-269-8033

Welcome To Your Dream Retreat At The Beautiful Kuleana Resort! This Charming 1-bedroom, 1-bath Condo On The Second Floor Offers Breathtaking Ocean Views That Will Make Every Morning Feel Like A Vacation. Step Into A Bright, Open Living Space Featuring Stain...

Rarely Available Upper-level, Directly West Fac...

Photo of Listing #404020

$850,000 Active Fee Simple

  • 1 Beds
  • Baths
  • 1.83 Acres
  • 859 ft²

Residential

4007 Lower Honoapiilani Rd, Unit 215, Napili/kahana/honokowai, HI

MLS® #404020

Listed By: Redfin Corporation
Office Contact: Main: 808-518-3429

Rarely Available Upper-level, Directly West Facing Unit In The Mahinahina Beach Oceanfront Complex! Recent Updates Include Flooring, Bathroom Updates, Kitchen Updates, And Lighting Improvements, And More. Vacation Rentals Are Prohibited Which Keeps The Comp...

Prepare To Be Mesmerized By The Unobstructed Oc...

REDUCED 5% Photo of Listing #403270

$849,900 Active Leasehold

  • 1 Beds
  • 2 Baths
  • 1.24 Acres
  • 1,088 ft²

Residential

50 Hauoli St, Unit 408, Maalaea, HI

MLS® #403270

Listed By: Coldwell Banker Island Prop(Ka)
Office Contact: Cell: 808-281-4240

Prepare To Be Mesmerized By The Unobstructed Ocean Views From The Expansive Windows This Exceptional Unit Offers, It Will Leave You Breathless! Perfectly Situated In A Prime Central Location, You’ll Enjoy Convenient Access To The South, West, And North Shor...

Don't Miss Out On This Ground Floor Oceanfront ...

REDUCED 15% Photo of Listing #400609

$849,000 Pending Fee Simple

  • 2 Beds
  • 1 Baths
  • 0.52 Acres
  • 811 ft²

Residential

998 S Kihei Rd, Unit 105, Kihei, HI

MLS® #400609

Listed By: Hawaii Life (W)
Office Contact: Cell: 808-264-4123

Don't Miss Out On This Ground Floor Oceanfront 2bd/1bth Vacation Rentable Unit At Leinaala! Unit 105 Features Both A Beautiful Ocean View, As Well As A Personal Lanai With Access To The Large Grassy Lawn Leading To The Ocean In Front Of The Complex. This Be...

Experience The Beauty Of Maui From This Private...

Photo of Listing #403525

$844,000 Active Fee Simple

  • 1 Baths
  • 5.01 Acres
  • 456 ft²

Residential

110 Kaanapali Shores Pl, Unit 913, Kaanapali, HI

MLS® #403525

Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-281-7313

Experience The Beauty Of Maui From This Private 9th-floor Studio Condo, Mahana 913, Offering Breathtaking Oceanfront Views. Facing West, It Boasts Stunning Sunsets, Whales Breaching Seasonally, And Picturesque Views Of Lanai And The Majestic Island Of Molok...

The Mahana Resort Is Generally Considered As On...

Photo of Listing #401908

$839,000 Active Fee Simple

  • 1 Baths
  • 5.01 Acres
  • 456 ft²

Residential

110 Kaanapali Shores Pl Pl, Unit 513, Kaanapali, HI

MLS® #401908

Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-283-2420

The Mahana Resort Is Generally Considered As One Of The Premium Vacation Rental Complexes In Upper West Maui, And When You View The Complex And The Unit, Hopefully You Will Understand Why. The Mahana Consists Of Two 12 Floor Buildings With Slightly Over 200...

Noelani 219c - Wait No More! Noelani 219c Is Y...

Photo of Listing #403223

$839,000 Active Fee Simple

  • 1 Baths
  • 1.42 Acres
  • 420 ft²

Residential

4095 Lower Honoapiilani Rd, Unit 219c, Napili/kahana/honokowai, HI

MLS® #403223

Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-344-2677

Noelani 219c - Wait No More! Noelani 219c Is Your Tropical Oceanfront Studio Oasis! This 2nd Floor, Direct Ocean Front Studio Consists Of 420 Living Sq. Ft. And 54 Sq. Ft. Lanai. This Corner Unit Offers Privacy As Well As Expansive Panoramic Ocean Views! F...

Ka’anapali Shores 324 Is Turnkey And Offers The...

Photo of Listing #404158

$835,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 10.1 Acres
  • 717 ft²

Residential

3445 Lower Honoapiilani Rd, Unit 324, Kaanapali, HI

MLS® #404158

Listed By: eXp Realty
Office Contact: Cell: 808-269-8633

Ka’anapali Shores 324 Is Turnkey And Offers The New Owner The Benefits Of Many Recent Upgrades, Including A New Range (2024), Dishwasher (2024), Washer/dryer (2024), Refrigerator (2023), And Microwave (2021). Other Upgrades Since 2012 Include The Removal Of...

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

 

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