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 26 of 35

Are You Looking For An Immaculate Beachfront Va...

Photo of Listing #404718

$799,900 Active Fee Simple

  • 1 Beds
  • 2 Baths
  • 5.69 Acres
  • 681 ft²

Residential

1032 S Kihei Rd, Unit A514, Kihei, HI

MLS® #404718

Listed By: Coldwell Banker Island Prop(S)
Office Contact: Cell: 808-891-8989

Are You Looking For An Immaculate Beachfront Vacation Rental With Spectacular Views Of The Sparkling Blue Pacific? Well, You Just Found It! This Roomy, Turn-key 1-bedroom Penthouse Unit Has A Large Lanai, 2-baths, In-unit Laundry, Newer Stainless Appliances...

Maalaea: Makani A Kai Is A Charming Boutique Be...

REDUCED 3% Photo of Listing #403744

$799,000 Pending Fee Simple

  • 2 Beds
  • 2 Baths
  • 0.95 Acres
  • 930 ft²

Residential

300 Hauoli St, Unit B-11, Maalaea, HI

MLS® #403744

Listed By: Keller Williams Realty Maui-Ki
Office Contact: Cell: 808-344-3584

Maalaea: Makani A Kai Is A Charming Boutique Beachfront Complex. This Exceptional Property Features A Prime Location, Offering Seamless Access To South Maui, West Maui, And Central Maui. Close To Shopping, Restaurants And Beaches. 2 Handler Split System Ac ...

The Kahana Reef Complex Is All About The Direct...

REDUCED 3% Photo of Listing #404191

$799,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 1.96 Acres
  • 611 ft²

Residential

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...

Experience Island Living At Its Finest In This ...

Photo of Listing #404783

$799,000 Active Fee Simple

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

Residential

940 S Kihei Rd, Unit B109, Kihei, HI

MLS® #404783

Listed By: Coldwell Banker Island Prop(S)
Office Contact: Cell: 808-281-1751

Experience Island Living At Its Finest In This Beautifully Updated Ground-floor Unit At Luana Kai On Maui. This Move-in-ready Gem Offers An Open And Inviting Layout, With Modern Upgrades Throughout, Including Updated Flooring, Fixtures, And A Sleek, Remode...

Please Note That Napili Shores Is Zoned As H-1 ...

REDUCED 5% Photo of Listing #402845

$789,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 6.3 Acres
  • 602 ft²

Residential

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...

Discover Paradise At Kahana Reef#410, Where Oce...

Photo of Listing #403208

$789,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 1.96 Acres
  • 611 ft²

Residential

4471 Lower Honoapiilani Rd, Unit 410, Napili/kahana/honokowai, HI

MLS® #403208

Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-250-1163

Discover Paradise At Kahana Reef#410, Where Oceanfront Living Reaches New Heights Of Luxury And Tranquility. This Top-floor Unit Offers An Unparalleled Experience With Its Sweeping Views Of The Pacific Ocean, Providing The Perfect Vantage Point For Whale Wa...

Welcome To The Penthouse. This Is A 4th Floor C...

REDUCED 11% Photo of Listing #401593

$779,000 Active Leasehold

  • 2 Beds
  • 2 Baths
  • 2.59 Acres
  • 952 ft²

Residential

250 Hauoli St, Unit 404, Maalaea, HI

MLS® #401593

Listed By: Hawaii Life (W)
Office Contact: Cell: 808-870-8668

Welcome To The Penthouse. This Is A 4th Floor Corner Unit Offering Outstanding Ocean And Outer Island Views As Well As Beautiful Sunrises Over Haleakala. Tastefully Remodeled Featuring New Appliances, Fans And Lighting. Tile Flooring In Kitchen, Living Area...

Upgraded In November 2024 With Vinyl Flooring ,...

REDUCED 7% Photo of Listing #401820

$779,000 Pending Fee Simple

  • 2 Beds
  • 2 Baths
  • 3.05 Acres
  • 1,040 ft²

Residential

4327 Lower Honoapiilani Rd, Unit 1003b, Napili/kahana/honokowai, HI

MLS® #401820

Listed By: Maui Luxury Realty LLC
Office Contact: Cell: 808-740-5740

Upgraded In November 2024 With Vinyl Flooring , A Split-trio Mitsubishi Ac System, And Fresh Paint Throughout. Escape To Your Own Personal Oasis In West Maui With This Charming Two Bedroom, Two Bath Oceanfront Retreat. Wake Up To Breathtaking Ocean Views An...

Ka’anapali Shores 324 Offers The New Owner The ...

REDUCED 3% Photo of Listing #404158

$779,000 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 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 A Popcorn Ceil...

Kaanapali Shores 817. This Is A Leasehold Hotel...

REDUCED 14% Photo of Listing #402860

$775,000 Active Leasehold

  • 2 Beds
  • 2 Baths
  • 10.1 Acres
  • 1,004 ft²

Residential

3445 Lower Honoapiilani Rd, Unit 817, Kaanapali, HI

MLS® #402860

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

Kaanapali Shores 817. This Is A Leasehold Hotel Zoned Property. Spectacular Location. 8th Floor 2 Bedroom 2 Bathroom. Excellent Ocean Views From The Remodeled Suite. Offering Granite Counter Tops, New Carpeting Throughout, And Custom Cabinetry. If You Are ...

Welcome To Hale Kai I, A Boutique, Ocean Front ...

Photo of Listing #404045

$775,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 1.29 Acres
  • 600 ft²

Residential

3695 Lower Honoapiilani Rd, Unit 117, Napili/kahana/honokowai, HI

MLS® #404045

Listed By: Compass
Office Contact: 808-633-7543

Welcome To Hale Kai I, A Boutique, Ocean Front Community, Conveniently Located On The Beautiful West Maui Shoreline, Between Kaanapali And Napili. One Of Only 40 Units In This Intimate, Polynesian Style Complex, #117 Offers Owners And Vacationers 600sq.ft. ...

Westside Story Is Unit 114 At Mahinahina Beach ...

Photo of Listing #404996

$775,000 Active Fee Simple

  • 1 Beds
  • Baths
  • 1.83 Acres
  • 859 ft²

Residential

4007 Lower Honoapiilani Rd, Unit 114, Napili/kahana/honokowai, HI

MLS® #404996

Listed By: Dinits Realty
Office Contact: 808-874-0600

Westside Story Is Unit 114 At Mahinahina Beach With 1 Bedroom, One And Half Baths, And 859 Square Feet Interior Offering An Oceanfront Location With A Residential Resort Lifestyle. This Is A Rare Offering At This Boutique Community With 32 Units Situated In...

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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