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.
3600 Wailea Alanui Dr, Unit 1101, Wailea/makena, HI
MLS® #402591
Listed By: Maui Real Estate Advisors LLC Office Contact: 808-875-4444
Wailea Elua Is A Revered, Hotel Resort Zoned, 24-acre Oceanfront Veritable Garden Of Eden! This World-class Low-density Property Enjoys An Unparalleled Amount Of Direct Ocean/beach & ‘wailea Walkway’ Frontage! It Is 1 Of 2 Esteemed Guard-gated Wailea Condom...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Hokulani 547 Welcome To Your Dream Beachfront Luxury Condominium! Hotel Zoned Property Per County Records. This Stunning 2b/2b Unit Offers An Unparalleled Living Experience In One Of The Most Sought-after Locations In Kaanapali. The Interior Features Plush ...
Listed By: Oceanfront Sotheby's International Realty
Here It Is. Almost 3/4 Acres On Waikoloa's Black Sand Beach! Hear The Waves Crash All Day And Night. Are You Interested? If You Are Read On.... This Is The Only Home For Sale On The Sand! It's Pure Serenity In Hana! This Legacy Property Consists Of A Spaci...
Listed By: Real Broker LLC Office Contact: hawaiisbest1@gmail.com
Get Ready To Fall In Love! This Direct Oceanfront Condominium At The Exclusive Kapalua Bay Villas Is More Than Just A Home—it's A Front-row Seat To The Stunning Beauty Of Maui, Hawaii. Whether You're Sipping Your Morning Coffee Or Unwinding At Sunset, The B...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-3067
This Beautiful 1 Bedroom, 2 Bath Ocean View Unit Has A Prime Location With Spectacular Ocean Views Overlooking The World-famous Ka’anapali Beach And The Majestic West Maui Mountains. Unit 1-702 Is Highly Remodeled With Custom Granite Countertops Accompanied...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-276-6443
Enjoy The Kaanapali Beach Lifestyle In This Immaculate 2-bedroom/2-bath Corner Unit At The Highly Desired Kaanapali Alii Luxury Condominium Resort. This Turn Key, Fully Furnished And Meticulously Maintained Corner Unit Is Ideally Positioned On The 6th Floor...
Expansive Penthouse Residence Exemplifies Ka'anapali Ali'i's Exclusive Resort Lifestyle. Enjoy Authentic Maui In Your Luxurious Beachside Resort Home Nestled Among 8 Acres Of Lush, Manicured Grounds. The Resort Boasts Some Of The Largest Condo Units To Be F...
Hokulani 247 Is A Large 1100 Square Foot 2 Bedroom / 2 Bath Ocean And Resort View Unit. Located In The Main Hokulani Tower's Inner Courtyard With A Large Private Lanai Just Over The Open Green Space. World Famous A'ina Gourmet Store Along With Full Access T...
3300 Wailea Alanui Dr, Unit 39f, Wailea/makena, HI
MLS® #404324
Listed By: Hawaii Life (W) Office Contact: Cell: 808-280-2055
Welcome To Wailea Ekahi 39f, A Beautifully Appointed 2-bedroom, 2-bathroom Condo That Offers Breathtaking Ocean Views From Nearly Every Room. This Condo Comfortably Sleeps Up To 6 Guests, With A Unique Bunk Bed Nook In One Of The Two Spacious Bedrooms. Whet...
Driving Down Kaanapali Shores Place Under The Canopy Shade Of The Magnificent Monkeypod Trees, You Feel Time Has Slowed Down And You Have Stepped Into The Tropical Paradise Of Yesteryear. The Mahana Is One Of The Most Luxurious Direct Oceanfront Properties ...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Alii 4-501 "welcome To Your Oceanfront Paradise! Hotel Zoned Property Per County Records. This Unit Has Been Uniquely Remodeled To Feature 3 Separate Sleeping Spaces. Originally Designed As A One Bedroom + Spacious Den, The Owner Has Extensively R...
3445 Lower Honoapiilani Rd, Unit 457, Kaanapali, HI
MLS® #400496
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 457. Hotel Zoned Property Per County Records. Rare Top Floor 2 Bedroom 2 Bathroom With A Loft That Is Being Used As A Full Third Bedroom And A Den Plus Extra Storage Closet. Excellent Ocean Views From The Remodeled Suite. Granite Counter To...
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
