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.
4327 Lower Honoapiilani Rd, Unit 1203, Napili/kahana/honokowai, HI
MLS® #401846
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-280-2255
Ocean And Outer Island Views From This Top Floor Remodeled 2 Bedroom, 2 Bath Villa. Like Waking Up On The Bow Of A Boat The Primary Bedroom Has Stunning Views And You Can Hear The Sounds Of Gently Rolling Waves Lapping Against The Shoreline. Spacious And ...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-866-2334
Location, Location, Location! This Spectacular 5th Floor Ocean Facing One Bed, One Bath Condo Toward The Front Of The Complex Is Overlooking The Inner Courtyard Which Is The Ideal Setting For Maximum Ocean Views From The Main Living Spaces, Bedroom And Spac...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-446-5350
Fantastic "remodeled" Beachfront Condo Located At Sugar Beach Resort. Zoned Hotel/resort. Remodel Includes: Quartz Countertops And Back Splashes In Kitchen And Bathrooms. Complete Interior Paint, New Exterior Storage Door, New Lighting Fixtures, Blinds, Rem...
3823 Lower Honoapiilani Rd, Unit 208, Napili/kahana/honokowai, HI
MLS® #404772
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-281-7313
Great Location In Hale Ono Loa, Located 1 Unit Back From The Ocean There Is The Sound Of The Surf And The Cool Trade Wind Breezes That Make This A Very Comfortable Space With Open Floor Plan. 208 Is Located Close Enough To The Water To Watch Turtles On The ...
Listed By: The Agency Maui Office Contact: Cell: 808-344-0330
An Elegant Beachfront Condo. Priced To Sell! Massive Renovation 2022. Heavily Booked 1 Bedroom 1 Bath Vacation Rental Condo In South Maui. Located On One Of The Most Beautiful, Peaceful, And Quiet Beaches. Near Very Active Community Pickle Ball Courts An...
3445 Lower Honoapiilani Rd, Unit 731, Kaanapali, HI
MLS® #403210
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 731 - Hotel Zoned Property Per County Records. Central Location On The 7th Floor, This 1b/1b Unit Offers Direct Oceanview's That Will Take Your Breath Away. This Spacious Floorplan Featuring An Upgraded Kitchen, Custom Cabinets, And High-en...
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...
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Hotel Zoned With Breathtaking Ocean And Pool Views, Plus Serene Kealia Pond Views On The Mountainside. Immerse Yourself In A Resort Like Atmosphere With Meticulously Maintained Grounds And An Array Of Amenities. Relax By The Heated Pool, Unwind In The Sauna...
Must See This Stunning Beachfront Condo And Experience True Resort Style Living! Step Right Outside The Elevator And Enter Into This 5th Floor Unit Located On The Courtyard Side Boasting Views Of The Ocean, Pool, Mountains, And Unobstructed Sunset Views As ...
3445 Lower Honoapiilani Rd, Unit 741, Kaanapali, HI
MLS® #401601
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 741- Hotel Zoned Property Per County Records. Nestled On The 7th Floor Of A Coveted West Maui Location, This 1b/1b Unit Offers Beautiful Oceanview's That Will Leave You In Awe. Step Inside To Discover A Spacious Floorplan Featuring Granite ...
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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
