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

412 Properties Found. Page 25 of 35

Welcome To Waipuilani Unit 314 – One Of A Kind ...

NEW Photo of Listing #405170

$849,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 1.22 Acres
  • 954 ft²

Residential

1002 S Kihei Rd, Unit 314, Kihei, HI

MLS® #405170

Listed By: eXp Realty
Office Contact: Cell: 808-315-1699

Welcome To Waipuilani Unit 314 – One Of A Kind And The Best Unit In The Complex! This Rare, Spacious Top Floor Corner Unit Boasts Unparalleled Oceanfront Views, And At 954 Sq. Ft., It’s The Largest Of Its Kind In The Complex. Located On The Serene Ocean Sid...

Located Along One Of The Longest Stretches Of B...

REDUCED 11% Photo of Listing #404518

$845,000 Active Fee Simple

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

Residential

145 N Kihei Rd, Unit Ph8, Kihei, HI

MLS® #404518

Listed By: Coldwell Banker Island Prop-Ku
Office Contact: Cell: 808-727-9837

Located Along One Of The Longest Stretches Of Beach In All Of Maui, This Penthouse Has Everything You Need To Relax Island Style. Sugar Beach Resort Is A Hotel Zoned Property Allowing The Owner Multiple Options In Occupancy Such As; Short Term (vacation Re...

Experience The Beauty Of Maui From This Private...

Photo of Listing #403525

$844,000 Pending 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...

Mahana 1203 Welcome To Your Dream Beachfront Sa...

Photo of Listing #404598

$835,000 Active Fee Simple

  • 1 Baths
  • 5.01 Acres
  • 456 ft²

Residential

110 Kaanapali Shores Pl, Unit 1203, Kaanapali, HI

MLS® #404598

Listed By: Keller Williams Realty Maui-L
Office Contact: Cell: 808-870-2525

Mahana 1203 Welcome To Your Dream Beachfront Sanctuary, Perched On The Top Floor With Mesmerizing Direct Oceanfront Views Of Lanai And Molokai. Relax On Your Private Balcony As You Watch Majestic Whales And Turtles Swim By And Indulge In Spectacular Sunsets...

Ocean Lover? The Ocean Is Only About 100' Away...

Photo of Listing #405068

$832,500 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 1.29 Acres
  • 988 ft²

Residential

3691 Lower Honoapiilani Rd, Unit 211, Napili/kahana/honokowai, HI

MLS® #405068

Listed By: La Costa Realty Hawai'i LLC

Ocean Lover? The Ocean Is Only About 100' Away. Swimming, Surfing, Or Sunbathing On The Grassy Park. This Upstairs Home Has Vaulted Ceilings And Split Ac System And With Two Bedroom, Two Bath Condominium Is Comfy And So Conveniently Located. Plus An Ext...

Find Your Sweet Tropical Escape Right On The Oc...

Photo of Listing #402168

$825,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 2.88 Acres
  • 460 ft²

Residential

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...

Kaanapali Shores 231 - Welcome To This Charming...

Photo of Listing #404995

$825,000 Active Fee Simple

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

Residential

3445 Lower Honoapiilani Rd, Unit 231, Kaanapali, HI

MLS® #404995

Listed By: Keller Williams Realty Maui-L
Office Contact: Cell: 808-870-2525

Kaanapali Shores 231 - Welcome To This Charming One-bedroom, One-bath Condominium Located On The Second Level Of Kaanapali Shores. This Prime Unit Offers Convenient Parking And Access To The Outdoor Activities. From The Lanai You Will Find Beautiful Views O...

Welcome To Hale Ono Loa! A Captivating View Gre...

NEW Photo of Listing #405215

$825,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 1.77 Acres
  • 558 ft²

Residential

3823 Lower Honoapiilani Rd, Unit 205, Napili/kahana/honokowai, HI

MLS® #405215

Listed By: Island Sotheby's International Realty(L)
Office Contact: Cell: 808-345-7654

Welcome To Hale Ono Loa! A Captivating View Greets You The Moment You Walk In The Door Of Unit 205 Which Underwent A Complete Renovation In 2021. The Interior And Lanai Floors Were Upgraded With Ceramic Tile, And The Kitchen And Bathroom Countertops Were Re...

Kaanapali Shores 921 - Welcome To Your Stunning...

NEW Photo of Listing #405175

$815,000 Active Fee Simple

  • 1 Baths
  • 10.1 Acres
  • 507 ft²

Residential

3445 Lower Honoapiilani Rd, Unit 921, Kaanapali, HI

MLS® #405175

Listed By: Keller Williams Realty Maui-L
Office Contact: Cell: 808-870-2525

Kaanapali Shores 921 - Welcome To Your Stunning Ninth-floor Studio At Kaanapali Shores, Where Every Moment Feels Like A Vacation! This Beautifully Appointed Space Boasts Spectacular Views Of The Lush Courtyard And The Sparkling Ocean, Framed By The Enchanti...

Highly Motivated Owner Says, "i Will Consider A...

REDUCED 6% Photo of Listing #403065

$810,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 12.28 Acres
  • 597 ft²

Residential

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...

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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