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

357 Properties Found. Page 29 of 30

Amazing Beachfront Location With Resort Ameniti...

Photo of Listing #403783

$495,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 12.28 Acres
  • 506 ft²

Residential

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...

Discover The Perfect Retreat In This Premium On...

REDUCED 10% Photo of Listing #402868

$475,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 12.28 Acres
  • 506 ft²

Residential

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 Fr...

REDUCED 2% Photo of Listing #403051

$475,000 Active Leasehold

  • 1 Baths
  • 3.46 Acres
  • 431 ft²

Residential

4365 Lower Honoapiilani Rd, Unit 603, Napili/kahana/honokowai, HI

MLS® #403051

Listed By: Compass
Office Contact: Cell: 808-633-3936

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...

Welcome To Paki Maui #318, Your Perfect Opportu...

Photo of Listing #403965

$469,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 12.28 Acres
  • 506 ft²

Residential

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...

Paki Maui Offers A Quintessential Oceanfront Lo...

Photo of Listing #403931

$467,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 2.88 Acres
  • 506 ft²

Residential

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-f...

REDUCED 8% Photo of Listing #401863

$459,000 Active Leasehold

  • 1 Beds
  • 1 Baths
  • 1.24 Acres
  • 557 ft²

Residential

50 Hauoli St, Unit 409, Maalaea, HI

MLS® #401863

Listed By: Compass
Office Contact: Cell: 808-268-8873

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 ...

Maui Beachfront Str With Seller Financing! Comp...

REDUCED 7% Photo of Listing #403081

$456,000 Active Leasehold

  • 1 Beds
  • 1 Baths
  • 0.45 Acres
  • 602 ft²

Residential

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...

Oceanfront Oasis! Welcome To Your Seaside Sanc...

Photo of Listing #402156

$435,000 Active Leasehold

  • 1 Beds
  • 1 Baths
  • 0.45 Acres
  • 602 ft²

Residential

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 ...

Effortlessly Live The Maui Lifestyle In This Be...

Photo of Listing #403731

$429,000 Active Leasehold

  • 1 Beds
  • 1 Baths
  • 1.27 Acres
  • 586 ft²

Residential

30 Hauoli St, Unit 304, Maalaea, HI

MLS® #403731

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 Tha...

Photo of Listing #403005

$410,000 Active Leasehold

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

Residential

3543 Lower Honoapiilani Rd, Unit H201, Napili/kahana/honokowai, HI

MLS® #403005

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

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...

This Is A Fully Remodeled 2-bedroom, 1-bath Lea...

REDUCED 9% Photo of Listing #401386

$400,000 Active Leasehold

  • 2 Beds
  • 1 Baths
  • 2.74 Acres
  • 888 ft²

Residential

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...

Maui Sands 6c Is A Ground Floor, 2 Bedroom And ...

Photo of Listing #403345

$399,000 Active Leasehold

  • 2 Beds
  • 1 Baths
  • 2.74 Acres
  • 888 ft²

Residential

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

 

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