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.
3601 Lower Honoapiilani Rd, Unit 317, Napili/kahana/honokowai, HI
MLS® #403783
Listed By: Emerald Club Realty Inc
Amazing Beachfront Location With Resort Amenities Including Oceanfront Lawn Area, A Pool & Spa, Bbq Area, Clubhouse, Conference Room, Laundry Faciliites, Elevators, And Extra Basement Storage And A Front Desk. This Is Your Opportunity To Own This Lovely Un...
3601 Lower Honoapiilani Rd, Unit 114, Napili/kahana/honokowai, HI
MLS® #402868
Listed By: Sunny Maui Vacations
Discover The Perfect Retreat In This Premium One-bedroom Unit At The Oceanfront Paki Maui Complex. Located On The North End Of The World Acclaimed Kaanapali Beach, Paki Maui Is Its Own Island Of Tranquility. Paki Maui Is A Four-story, Three Building Structu...
Immerse Yourself In Breathtaking Ocean Views From This Updated Condo At The Royal Kahana. With Direct Access To A White Sandy Beach, This Property Offers An Ideal Location For Snorkeling, Swimming, And Surfing. Enjoy The Convenience Of Walking To Nearby Res...
3601 Lower Honoapiilani Rd, Unit 318, Napili/kahana/honokowai, HI
MLS® #403965
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-870-4899
Welcome To Paki Maui #318, Your Perfect Opportunity To Own A Condo In This Popular Oceanfront Community Where You Can Savor The Comfort, Convenience And Carefree Lifestyle Of Island Living. Relax In The Shade Of The Covered Lanai, Nestled Amongst The Verdan...
3615 Lower Honoapiilani Rd, Unit 311, Napili/kahana/honokowai, HI
MLS® #403931
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-283-3055
Paki Maui Offers A Quintessential Oceanfront Location, With Resort Amenities. #311 Is A Charming Retreat. This Condo Offers A Spacious Living Room That Opens Directly Onto A Private Lanai, Making It The Perfect Place To Relax And Admire The Lush Tropical Fo...
Welcome To Unit 409 At Milowai, A Rare Fourth-floor Condo Offering Stunning Oceanfront Views. Watch The Magic Of Maui Unfold Right Before Your Eyes - Turtles Playing, Whales Frolicking, Surfers Gliding, And Boats Cruising In And Out Of Maalaea Harbor. This ...
3559 Lower Honoapiilani Rd, Unit 714, Napili/kahana/honokowai, HI
MLS® #403081
Listed By: OahuRE.com
Maui Beachfront Str With Seller Financing! Completely Renovated In 2022, This Fully Furnished Island Style Vacation Rental Property Provides The Perfect Guest Experience For Those Wishing To Getaway And Enjoy The Tranquility That Maui Has To Offer. Enjoy Vi...
3559 Lower Honoapiilani Rd, Unit 709, Napili/kahana/honokowai, HI
MLS® #402156
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-250-0205
Oceanfront Oasis! Welcome To Your Seaside Sanctuary In Paradise. This Beautifully Fully Remodeled Leasehold Short Term Rentable Condo Offers The Perfect Blend Of Luxury And Convenience, With Every Detail Carefully Crafted For Modern Coastal Living. This ...
Listed By: Coldwell Banker Island Prop(Ka) Office Contact: Cell: 808-385-4665
Effortlessly Live The Maui Lifestyle In This Beautifully Appointed 1bd/1bth Ocean View Unit In An Oceanfront Complex Centrally Located On Maui. Inside, You'll Find Tiled Floors Throughout And Thoughtfully Designed Furnishings That Blend Style And Function...
Papakea H201 Is A Stunningly Remodeled Unit That Boasts High-quality Finishes And Modern Upgrades. Situated In A Prime Location, This Leasehold Condo Offers Breathtaking Views Of The Tropical Koi Ponds, The Resort Grounds, The Ocean, And The Neighboring Isl...
3559 Lower Honoapiilani Rd, Unit 6f, Napili/kahana/honokowai, HI
MLS® #401386
Listed By: Real Broker LLC Office Contact: hawaiisbest1@gmail.com
This Is A Fully Remodeled 2-bedroom, 1-bath Leasehold Condo That Combines Modern Comfort With The Timeless Allure Of West Maui. This Exquisite Property Is Perfectly Situated In The Complex To Offer Breathtaking Ocean Views, Allowing You And Your Guests To W...
3559 Lower Honoapiilani Rd, Unit 6c, Napili/kahana/honokowai, HI
MLS® #403345
Listed By: Hawaii Life (L) Office Contact: Cell: 808-357-2998
Maui Sands 6c Is A Ground Floor, 2 Bedroom And 1 Bath Condominium Located In Honokowai Otherwise Known As The West Side Of Maui. This Leasehold, Ocean Front Complex Offers An In-ground Pool, Bbqs, Community Laundry Facilities And Lush Landscaping. There Is ...
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