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.
3543 Lower Honoapiilani Rd, Unit C107, Napili/kahana/honokowai, HI
MLS® #403866
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-344-2677
Located In One Of West Maui Exclusive Oceanfront Condominium Communities, Papakea C107 Is The Perfect, Ground Floor Studio Property. Offering 454 Sq.ft. Of Living Area, This Property Is Centrally Located Within The Community And Offers Ocean, Resort And Gar...
4327 Lower Honoapiilani Rd, Unit 506, Napili/kahana/honokowai, HI
MLS® #404007
Listed By: Compass Office Contact: 808-283-0492
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Sweeping Ocean Views! Only A Few Swaying Palm Trees Stand Between You And The Big Blue Pacific! Located On The Third Floor, This Ocean Front End Unit Boasts Incredible Ocean And Mountain Views From Your Double Lanai Where You Can Enjoy The Sunrise As It Com...
3543 Lower Honoapiilani Rd, Unit H401, Napili/kahana/honokowai, HI
MLS® #402172
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-359-4245
Experience This Stunning Top-floor Corner Unit With A Captivating Loft And Soaring Wood Beam Ceilings. Sweeping Ocean Views From The Comfort Of This Beauty, Set Against The Backdrop Of Lush Tropical Surroundings. Renovated From Top To Bottom, This Residence...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-281-4107
Welcome To Paradise In This Charming Fee Simple Condo In An Oceanfront Complex, Just Steps Away From 4.5 Miles Of Pristine White Sandy Beach. This Impeccably Maintained Unit Showcases A Bright And Open Living Space With A Sensible Remodel. Open The Doors To...
4365 Lower Honoapiilani Rd, Unit 405, Napili/kahana/honokowai, HI
MLS® #402959
Listed By: Quam Properties Hawaii Inc Office Contact: 808-665-1315
A Well-appointed Quaint Studio Condominium Situated On Kahana Beach Shoreline. Royal Kahana Is A Beachfront Resort On The West Side Between The Ka’anapali And Kapalua! This 431 Sq. Ft. Studio Unit Has A King Bed And Twin Sleeper Sofa. Fully Equipped Kitchen...
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-205-9178
Step Into Island Living At Hono Kai Unit A16, A 555 Sq Ft, 1-bedroom, 1-bathroom Ground-floor Condo Located In The Heart Of Maalaea, Maui. This Unit Boasts A Private Lanai With A Peaceful Garden View, Providing Seamless Access To The Grass Lawn, Pool, And J...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-318-0833
Welcome To Your Serene Retreat At Hono Kai In Maalaea, Maui! This Beautifully Appointed Ground Floor Condo Offers The Perfect Blend Of Comfort And Style. The One-bedroom Unit Features Modern Amenities Including Cool Split Air Conditioning, Elegant Granite C...
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...
Listed By: Island Sotheby's Int'l Rlty(M) Office Contact: Cell: 808-870-4114
Welcome To Waipuilani Condominiums, Where Oceanfront Living Meets Convenience And Comfort! Nestled On The Top Floor, This Beautifully Updated 1-bedroom 1- Bath Condo Offers A Serene Retreat With Modern Amenities And Ample Storage Space. The Highlight Of Thi...
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MLS® #402868
Listed By: Sunny Maui Vacations
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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...
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
