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.
5315 Lower Honoapiilani Rd, Unit E-141, Napili/kahana/honokowai, HI
MLS® #402845
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-2420
Please Note That Napili Shores Is Zoned As H-1 (aka Nbcid... Napili Bay Civic Improvement District) The Napili Shores Complex Is Comprised Of 162 Units On Over Six Acres Of Land, Directly Abutting The Pacific Ocean. Its Lush Grounds And In-ground Pool, Cou...
3601 Lower Honoapiilani Rd, Unit 210, Napili/kahana/honokowai, HI
MLS® #402168
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-359-4245
Find Your Sweet Tropical Escape Right On The Ocean. Smell The Clean Salt Air And Feel The Gentle Breeze While Sipping Your Maui Coffee And Meditating To The Sounds Of The Surf. With Tile Flooring Throughout And White Wood Panel Detailing, This Oceanfront 1...
4471 Lower Honoapiilani Rd, Unit 415, Napili/kahana/honokowai, HI
MLS® #404191
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-2420
The Kahana Reef Complex Is All About The Direct Oceanfront Views, And This One Bedroom, One Bath Fully Furnished Unit Is Perhaps Positioned In The Premier Location (on The Top Floor... Often Described As A Penthouse). The View Is Directly To The West, With...
3543 Lower Honoapiilani Rd, Unit G101, Napili/kahana/honokowai, HI
MLS® #403065
Listed By: Epic Realty LLC
Highly Motivated Owner Says, "i Will Consider All Offers" And Needs His Unit Sold Now! Unit G101 Is Steps Away From All Of Your Favorite Activities. With 2 Pools, 2 Jacuzzies, 2 Tennis Courts, 2 Pickle-ball Courts, 2 Shuffle Board Courts, 2 12-hole Puttin...
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-268-2115
Maui Sunset Is A Great Complex Off S.kihei Rd And The Pacific Ocean! Beautiful Tropical Grounds Are Well Kept With Lots Of Amenities Such As, In Ground Heated Pool, Jacuzzi, Bar-b-que's, Putting Green, Shuffleboard, Small Garden, Workout Room And An On-site...
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-281-3121
Introducing A Fee Simple 1-bedroom, 1-bath Condo With Direct Oceanfront Access, Offering Stunning Panoramic Ocean Views. This Exceptional Property Features A Heated Pool, The Only Hot Tub In Maalaea, A Bbq Area, An Elevator, And Storage For Surfboards And K...
4365 Lower Honoapiilani Rd, Unit 315, Napili/kahana/honokowai, HI
MLS® #402625
Listed By: Epic Realty LLC
Re-discover Royal Kahana! This Oceanfront Hotel Zoned, Vacation-rentable Property Is Perfectly Located Between Kapalua And Kaanapali. Unit 315 Features Upgraded Vinyl Plank Floors, Popcorn-free Ceilings, New Tv In The Primary Room And New Kitchen Stools. ...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-866-2334
Spectacular One Bed/bath Oceanfront Beach Condo In Highly Desirable kauhale Makai Resort In North kihei. Commanding Ocean Views Are The Theme In This Extensively Renovated Unit With Great Attention To Detail And Well Thought Out Appointments. Interior Has B...
3723 Lower Honoapiilani Rd, Unit 104, Napili/kahana/honokowai, HI
MLS® #403278
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-891-8989
Do You Like Cruises? If Yes, You'll Love This Ground Floor Vacation Rental On The Ocean At Nohonani, Because When You Look Out The Window You'll Think You're On A Cruise Ship! But You Can Go Outside And Play In The Grass! Spectacular Ocean Views Islands Of ...
The Freshest Offering That The Hotel Zoned Royal Kahana Has Seen In Years - Royal Kahana #213. This Incredible Condo Is A Full Ocean View One-bedroom Residence With An Extensive Contemporary 2021 Remodel. It Is Perfect For Whale Watching, People Watching Ov...
Listed By: Living Maui Real Estate LLC Office Contact: Cell: 808-359-1161
Welcome To Mahana At Kaanapali, An Exclusive Oceanfront Resort Nestled In The Heart Of Maui's Stunning Kaanapali Coast. Studio #502, Located On The 5th Floor, Offers Expansive, Panoramic Views Of The Ocean. This Beautifully Designed Unit Features A Fully Eq...
3445 Lower Honoapiilani Rd, Unit 339, Kaanapali, HI
MLS® #402373
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 339- Located On The Third Floor, Unit 339 Overlooks The Quiet, Tropical Gardens And Peaceful Koi Pond. You Can Sit On Your Private Lanai And Enjoy The Early Morning Tropical Birds Or The Sunset Colors Of The Evening Sky. Your Large, Comfort...
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
