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.
Listed By: Maui Real Estate Advisors LLC Office Contact: 808-875-4444
The Revered Halama Street Oceanfront Neighborhood, An Approximate Five-block Stretch Of South Kihei Coastline, Is A Well-kept And Treasured Secret. Theaters, The Post Office, Fine Dining, Hardware Stores, Grocery Stores, Tennis, Kayaking, Golf, Eclectic Sho...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-283-2222
Oceanfront Home And Cottage In A Highly Desirable Private And Quiet Kuau Neighborhood On Maui’s Renowned North Shore. This Unique Offering Is Ideally Situated In The Perfect Location, Just Minutes Away From Sandy Beaches, Kuau Store, Mama’s Fish House, And ...
4000 Wailea Alanui Dr, Unit 2502, Wailea/makena, HI
MLS® #401515
Listed By: Wailea Point Realty, Inc. Office Contact: realty@waileapoint.com
Outstanding Value For One Of Wailea Point's Most Fabulous View Units. This Is The Highly Sought After Upper Level D Plan, Wailea Point’s Second Largest Standard Floor Plan Located On The Top 2 Floors Of A 4-story Building; 2 Levels, 3 Bedrooms, 4 Bathrooms....
Exclusive And Rarely Available Beachfront Property On Kihei Maui’s South Shore. With Breathtaking Panoramic Views From The South Shore Of Kihei Maui. Gaze Out At Dramatic Island Views Of Lanai, Kahoolawe, West Maui And Molokini With Your Favorite Cup Of J...
Listed By: Real Broker LLC Office Contact: josh@joshuabroady.com
Welcome To 1470 Halama Street, A Rare Beachfront Estate On Maui’s Coveted Halama Street . This One-of-a-kind Property Offers Unparalleled Luxury, Tranquility, And Investment Opportunities. With Maui County Granting Vacation Rental Use—no Permit Required—thi...
Welcome To 23 Nalu Pl., The Epitome Of Beachfront Living In Paia Town. This Enchanting Beach House Offers Complete Privacy Along A Pristine White Sand Beach Just Beyond The Gated Backyard. Despite Its Seclusion, It Remains Conveniently Close To The Eclectic...
Wow! First Time On The Market! This Iconic 3-bedroom, 2-bath Oceanfront Home Perched Over The Pailolo Channel Is Being Offered By The Original Owners Who Spared No Expense On This Perfect Maui Retreat. With Deliberate Views Of The Islands Of Molokai And Lan...
Introducing A Masterpiece Of Modern Architecture Nestled Along The Breathtaking Oceanfront Of Maui’s North Shore, This Stunning Property Offers A Seamless Blend Of Sustainable Living And Timeless Design. Embodying The Elegance Of Simplicity, The Residence I...
Being Offered For The First Time By The Original Occupants, 24 Coconut Grove Represents A Rare Opportunity On Maui To Own A Pre-eminent Luxury Beachfront Condominium. Coconut Grove Is A Private Community Nestled In Beautiful Kapalua Bay, World Renowned For ...
4000 Wailea Alanui Dr, Unit 801, Wailea/makena, HI
MLS® #400755
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-870-4073
Revel In Luxury From An Expansive And Private Oceanfront Condo With The Best Amenities In Its Class. The Spacious, Elegant, And Bright Two-story Residence Offers A Large Floor Plan Available To The Low Density, Gated Community Of Wailea Point Village. With ...
320 Paani Pl, Unit 6c, Spreckelsville/paia/kuau, HI
MLS® #403996
Listed By: The Maui Real Estate Team Inc Office Contact: Cell: 808-283-6377
It Has Been Over 8 Years Since A Front-row Beachfront Single Unit At Sugar Cove Became Available. Now Is Your Chance. Unit 6c Is An Exquisitely Renovated, 2,111 Square Foot Residence That Includes 3 Bedrooms 3.5 Baths + An Office. This Fully Furnished Resid...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-250-1583
Rare Opportunity To Own One Or Two Contiguous Beachfront Homes On One Of South Maui's Favorite Beaches. Consolidation Of The Lots Located At 1598 And 1606 Halama Street Would Create An Estate Site Of Over 32,000 Square Feet. The Property Is Being Sold For ...
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
