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.
4850 Makena Alanui Rd, Unit C106, Wailea/makena, HI
MLS® #400364
Listed By: Hawaii Life (W) Office Contact: Cell: 808-283-6791
Enjoy Breathtaking Unobstructed Ocean, Outer Island, And Sunset Views From The Living Area, The Kitchen, And The Spacious Lanai Of This Extra-large, Elegantly Renovated, Two-bedroom, Two-bath Makena Surf Condo! This 1,600 Square Foot Unit Feels Even Larger...
Rare, Turnkey 5th Floor Elevation Hotel Residence At Montage Kapalua Bay- One Of The Highest Locations On The Property, Offering A "premier Oceanview Residence" Category. This Home Is Hotel-zoned For Nightly Rentals In A 5-star Resort Allowing Access To Mon...
Listed By: Island Sotheby's Int'l Rlty(W) Office Contact: Cell: 808-385-6564
Welcome To Hokulani 325! This Stunning Oceanfront Condo Offers Unparalleled Views And Luxurious Living In One Of The Most Sought-after Resort Areas In Kaanapali. From The Moment You Step Inside, You'll Be Greeted By An Open-concept Design That Maximizes The...
A Unique And Family-friendly Dwelling Perched Right Above The Primary Pool Offers A Perfect Spot To Savor Your Morning Coffee Or A Refreshing Fruity Cocktail, Depending On The Time Of Day, As Your Children Or Grandchildren Revel In The Pool Below. This Unit...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-3067
Gorgeous Views From This Prime Corner 7th Floor Unit With Inner-courtyard Ocean Views. This 2-bed 2-bath 1,650 Sq Ft Unit With A 138 Sq Ft Lanai Has A Prime Location With Spectacular Ocean Views Overlooking The World-famous Ka’anapali Beach And The Majestic...
Located In A Private And Serene Portion Of The Luxury Resort Known As The Montage Residences Kapalua Bay, Unit 2202 Awaits Your Arrival! Conveniently Located On The Ground Floor, This Grand Residence 3-bedroom, Den, 3.5 Bathroom Property Is Centrally Locate...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-385-1336
Best Possible News For Discerning Beach Lovers: Exquisite Polo Beach Club 408 Has Come To Market. It Is Like None Other. The Creative, Extensive And Elegant Remodel Redefines The Interior Living Experience. Open Gourmet Kitchen Features A Granite Island Wit...
Listed By: Susan Jackson Real Estate Office Contact: Cell: 865-206-1234
Konea 549 (a Three Bedroom / Three Bath Home) Is Now Available For Sale! Full Unobstructed Ocean View. It Is The Lowest Priced Three Bedroom That Is Available For Sale By More Than $500,000! This Spacious (1930 Sq Ft) Home Comes Loaded With Recent Upgrade...
4000 Wailea Alanui Dr, Unit 2004, Wailea/makena, HI
MLS® #402135
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-870-4899
Wailea Point #2004 Is A Singularly Magnificent Villa Overlooking The Beautiful Main Pool Pavilion With Grand Ocean Views. It’s Excellent Location Is Just Steps To The Many On-site Amenities And Wailea’s Famous Oceanfront Path. Vaulted Ceilings With Custom R...
3600 Wailea Alanui Dr, Unit 708, Wailea/makena, HI
MLS® #403534
Listed By: Hawaii Life (W) Office Contact: Cell: 808-357-5000
Welcome To Wailea Elua Unit #708 – A Hotel Zoned, Stunning 2-bedroom, 2-bathroom Top-floor Condo With Breathtaking Ocean Views. Located In The Highly Sought-after Wailea Resort, This Fully Furnished Vacation Rental Unit Features High Vaulted Ceilings, Reces...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-3067
Don't Miss The Rare Opportunity To Own This Unit With Stunning Inner-courtyard Ocean Views Looking Out To The Neighboring Island Of Lana'i And Views To The West Maui Mountains. This Turnkey Well-maintained Fully Furnished 2-bedroom, 2-bath 1,523 Sq Ft 9th F...
4000 Wailea Alanui Dr, Unit 1904, Wailea/makena, HI
MLS® #403855
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-870-4899
Wailea Point 1904 Is Perfectly Situated On Over 26 Acres Of Some Of The Most Highly Sought After Oceanfront Real Estate In Maui, Hawaii. In Addition To Its Prime Location, Wailea Point 1904 Offers Exceptional Design And Craftsmanship With Unmatched Attentio...
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