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.
4365 Lower Honoapiilani Rd, Unit 115, Napili/kahana/honokowai, HI
MLS® #403929
Listed By: Kokua Realty LLC
Hotel Zoned Fee Simple Resort Property Located Oceanfront In The Heart Of Kahana. Shopping, World Class Golf Courses And Beaches, Restaurants, And Hiking Are Moments Away. This Unit Has Been A Successful Vacation Rental For Years With New And Returning Gues...
4365 Lower Honoapiilani Rd, Unit 312, Napili/kahana/honokowai, HI
MLS® #403627
Listed By: Living Maui Real Estate LLC Office Contact: Cell: 808-359-1161
Experience The Magic Of Maui At Royal Kahana, Where Stunning Natural Beauty Meets World-class Hospitality. Nestled Along The Pristine Pacific Shoreline, This Resort Offers Breathtaking Views Of The Ocean And The Neighboring Islands Of Lanai And Molokai. Uni...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-344-0180
Hotel Zoned, Vacation Rental, Ocean Front Property .... What More Could You Ask For! This 1 Bed, 2 Bath Condo Sits On One Of The Longest Stretches Of Beach In South Maul. Call Your Favorite Realtor Today Lo Schedule A Private Showing, This Sale Is Continge...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-870-8668
Seller Is Open To Owner Financing! One Of Maalaea’s Finest Beachfront Buildings, Kanai A Nalu Is Just Steps From Sugar Beach - Maui’s Longest Stretch Of Sandy Beach. This 2nd Floor Unit Is Fully Furnished And Ready For Occupancy Or Use As A Rental. Enjoy ...
4471 Lower Honoapiilani Rd, Unit 215, Napili/kahana/honokowai, HI
MLS® #402007
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-2420
The Kahana Reef Complex, Zoned A-2, Is A Direct Oceanfront Complex, Consisting Of 88 Units On Four Floors In Three Connected Buildings. This Unit Has Been Tastefully Remodeled Throughout And, With 611 Interior Square Feet (plus An Additional 99 Square Feet ...
3833 Lower Honoapiilani Rd, Unit B-103, Napili/kahana/honokowai, HI
MLS® #402332
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-264-4617
Location, Location, Location! This Newly Painted Remodeled Unit Boasts A Direct Oceanfront Setting, Which Allows For Year-round Picturesque Sunsets And Bi-island Views. Enjoy Frolicking Whales, Dancing Dolphins And Majestic Sea Turtles, All Right In Front O...
4471 Lower Honoapiilani Rd, Unit 317, Napili/kahana/honokowai, HI
MLS® #404082
Listed By: Living Maui Real Estate LLC Office Contact: Cell: 808-359-1161
Discover The Enchantment Of Oceanfront Living At Kahana Reef #317, Where Breathtaking Pacific Ocean Views Set The Stage For Whale Watching And Spectacular Sunsets. This Third Corner Unit Boasts The Largest Floor Plan In The Complex, A Private Lanai, Elevato...
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-385-7116
Hotel Zoned & A Delightful Gem Situated On The Shores Of Sugar Beach. This 1-bedroom, 1-bathroom Condo Boasts A Beachfront Location And A Welcoming Atmosphere, Accommodating Up To Four Guests. Whether You're Looking For A Tranquil Retreat Or A Fantastic Sho...
3975 Lower Honoapiilani Rd, Unit 120, Napili/kahana/honokowai, HI
MLS® #403282
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-385-2918
Welcome To This Quaint Oceanfront Property. Beautiful Views Of Molokai And Lanai. This Unit Has Been Remodeled And Updated With New Siding, Windows, Security Screen Doors And New Front Doors With Security Locks. A Newer Hot Tub Has Been Added To The Pool Ar...
3959 Lower Honoapiilani Rd, Unit 302, Napili/kahana/honokowai, HI
MLS® #403798
Listed By: Carrington Real Estate Svc US Office Contact: Cell: 808-269-8033
Welcome To Unit 302 At The Highly Sought-after Kuleana Resort, Located At 3959 Lower Honoapiilani Rd. In Lahaina. This Beautiful First-floor, 1 Bedroom, 1 Bath Condo Offers Breathtaking Ocean Views And Modern Conveniences. Step Into A Bright And Open Living...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-276-7766
This Is A Must-see Fully Remodeled Ocean-view Condo In The Sought After Kauhale Makai Resort With The Largest 1 Bedroom Floor Plan Available In The Complex. This Unit Is Being Sold Fully Furnished And Turn-key, And Was Not Rented During The Seller’s Ownersh...
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
