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.
3875 Lower Honoapiilani Rd, Unit B204, Napili/kahana/honokowai, HI
MLS® #404296
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-268-0557
Welcome Home To Your Beachfront Oasis At Hale Mahina Or “house Of The Moon” In Hawaiian. Enjoy The Ocean Views, Trade Winds And Seasonal Whale Watching From Your Own Private Tropical Lanai. Hale Mahina Is Conveniently Tucked Between The Kaanapali And Kapu...
3543 Lower Honoapiilani Rd, Unit A107, Napili/kahana/honokowai, HI
MLS® #404316
Listed By: Hawaii Life (MA) Office Contact: Cell: 808-280-7809
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Priced Well Below Last Sale! Welcome To Kanai A Nalu 407! The Orientation Of This Top Floor Ocean View Unit Offers Incredible Sunrises Over Haleakala And Remains Cooler In The Afternoons. Renovations From 2018 To Present Include New Appliances, Kitchen Remo...
4365 Lower Honoapiilani Rd, Unit 802, Napili/kahana/honokowai, HI
MLS® #405184
Listed By: Hawaii Life (KAP) Office Contact: Cell: 808-205-3995
Experience Island Living At Its Finest In Premium Studio 802 At The Royal Kahana Resort. Positioned In The Sought-after ‘02’ Stack, This Upgraded Studio Boasts Stunning North-facing Ocean Views From Its Private Lanai, Where You Can Take In Breathtaking Vist...
Opportunity Knocks Your Chance To Own A Top Floor One Bedroom, One Bath 851 Square Foot Papakea With Direct Ocean Views. A Magnificent Property With Wide Open Spaces, Two Oceanside Pools, Bbq's, Putting Greens, Whirlpools, Oceanside Cabanas, Pickle Ball Co...
4327 Lower Honoapiilani Rd, Unit 506, Napili/kahana/honokowai, HI
MLS® #404007
Listed By: Compass Office Contact: 808-283-0492
Welcome To Paradise, Where Breathtaking Ocean Views, Stunning Sunsets And The Soothing Sounds Of The Ocean Offer The Perfect Backdrop To Living The Maui Dream. Just Steps From The Beach, The Sparkling Turquoise Waters Of West Maui Greet You For A Day Well S...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-357-4219
Ma’alaea Mermaid Condominium – Your Slice Of Paradise Experience The Charm Of Ma’alaea In This Beautifully Maintained Ocean-view Condominium At The Ma’alaea Mermaid. This Unit Offers A Seamless Open-concept Design That Lives Like A 2 Bedroom With Extensive...
4909 Lower Honoapiilani Rd, Unit B3b, Napili/kahana/honokowai, HI
MLS® #405252
Listed By: Sullivan Properties Inc
Kahana Sunset Is A Beloved Landmark Property In West Maui. Unit B3b Is Perfectly Situated On Keone Nui Bay, Offering Breathtaking Sunset Views And Stunning Vistas Of Molokai And Lanai From The Beach Area. This Fully Furnished And Well-equipped One-bedroom, ...
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MLS® #405284
Listed By: Maui Westside Properties
J403 Is A Spacious Top-floor, Unit With Stunning Ocean Views. 2 Bedrooms 2 Bathrooms And A Loft. Quad-zone Split Unit Air Conditioning. The Property Is Situated On 13 Tropical Acres And Features Two Oceanside Swimming Pools And Spas, Two Tennis/pickleball C...
Bring All Offers - Presenting Hale Mahina A207 – House Of The Moon, Truly A Haven In Paradise, Your Personal Oceanfront Escape On Maui. Perfectly Located Between Kaanapali And Kapalua Resorts, Hale Mahina Is A Beachfront, Low-rise Complex Featuring An In-...
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MLS® #404648
Listed By: Chris Bakeman Realty LLC
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MLS® #402172
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-359-4245
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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
