Maui Oceanfront Market Update: January 2020

Posted by Courtney M. Brown on Monday, January 27th, 2020 at 12:57pm.

MAUI OCEANFRONT HOMES
Market Update, January 2020

Maui Oceanfront home for sale

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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.

View Current Home Listings: Oceanfront, Beachfront and Across the Street from the Ocean

386 Properties Found. Page 9 of 33

Attractively Priced! Looking For That Special U...

REDUCED 7% Photo of Listing #400847

$2,700,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 28.11 Acres
  • 1,401 ft²

Residential

4000 Wailea Alanui Dr, Unit 3403, Wailea/makena, HI

MLS® #400847

Listed By: Hawaii Life (W)
Office Contact: Cell: 808-264-5136

Attractively Priced! Looking For That Special Unit In An Oceanfront Community For Under $3m? You Have Found It! This 2 Bedroom/ 2 Bath Condo Home Is In The Exclusive Wailea Point Community With All The Amenities It Has To Offer Including 4 Pools, 2 Hot Tubs...

A Very Rare Location At The Mahana, A Direct Oc...

REDUCED 2% Photo of Listing #403873

$2,699,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 5.01 Acres
  • 1,214 ft²

Residential

110 Kaanapali Shores Pl, Unit 109, Kaanapali, HI

MLS® #403873

Listed By: Keller Williams Realty Maui-L
Office Contact: Cell: 808-385-1528

A Very Rare Location At The Mahana, A Direct Oceanfront, Corner Ground Floor 2 Bed/2 Bath Condominium. This Luxury Condo Is Truly One Of A Kind Offering An Extra Sense Of Privacy On This Quiet, Corner Location, Surrounded By Tropical Gardens For A Peaceful ...

This Is The Beachfront Unit You Have Been Waiti...

Photo of Listing #404206

$2,699,000 Active Fee Simple

  • 3 Beds
  • 3 Baths
  • 7.32 Acres
  • 2,085 ft²

Residential

4299 Lower Honoapiilani Rd, Unit 171, Napili/kahana/honokowai, HI

MLS® #404206

Listed By: Keller Williams Realty Maui-Ka
Office Contact: Cell: 808-250-0205

This Is The Beachfront Unit You Have Been Waiting For! Located On The 7th Floor, This Beautifully Updated Corner Unit Boasts Marble Floors, 3 Bedrooms, 3 Bathrooms And A Lanai Off Each Bedroom So You Can Wake Up To The Soothing Sounds And Majestic Views Of...

?enjoy Luxury Condo Living With All Your Favori...

Photo of Listing #401393

$2,690,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 34.82 Acres
  • 1,215 ft²

Residential

130 Kai Malina Pkwy, Unit Nr 1020, Kaanapali, HI

MLS® #401393

Listed By: Welcome Hawaii Properties
Office Contact: Cell: 808-280-2480

?enjoy Luxury Condo Living With All Your Favorite Resort Amenities. Honua Kai Resort & Spa Is Frequently Named One Of Maui's Premier Residential Beachfront Properties.  Located On A Gorgeous Stretch Of Golden White Sand, This Slice Of Paradise Offers Some...

Prime 7th Floor 2 Bed 2 Bath Corner Apartment W...

Photo of Listing #402715

$2,650,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 5.01 Acres
  • 1,178 ft²

Residential

110 Kaanapali Shores Pl, Unit 711, Kaanapali, HI

MLS® #402715

Listed By: Keller Williams Realty Maui-L
Office Contact: Cell: 808-264-4617

Prime 7th Floor 2 Bed 2 Bath Corner Apartment With The Bonus Of A Large 240 Sq. Ft. Extended Lanai. Relax And Enjoy Spectacular Sunsets, With Bi-island Views Of Molokai And Lanai. Watch The Amazing Humpback Whales Breaching During The Winter Season Along Wi...

Discover Your Dream Escape In Konea 1026, A Top...

Photo of Listing #403955

$2,650,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 34.82 Acres
  • 1,285 ft²

Residential

130 Kai Malina Pkwy, Unit Nr1026, Kaanapali, HI

MLS® #403955

Listed By: Maui Westside Properties

Discover Your Dream Escape In Konea 1026, A Top-floor Haven Nestled In The Honua Kai Resort In Kaanapali Maui. This Exquisite 1285 Sq Ft Condo Offers Two Bedrooms And Two Baths, With Stunning Ocean And Mountain Views From Its 10th-floor Vantage Point. Step...

Kaanapali Shores 456. Hotel Zoned Property Per ...

Photo of Listing #400495

$2,600,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 10.1 Acres
  • 1,364 ft²

Residential

3445 Lower Honoapiilani Rd, Unit 456, Kaanapali, HI

MLS® #400495

Listed By: Keller Williams Realty Maui-L
Office Contact: Cell: 808-870-2525

Kaanapali Shores 456. 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...

Mahana 609 - Hotel Zoned Property Per County Re...

REDUCED 6% Photo of Listing #401686

$2,595,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 5.01 Acres
  • 1,214 ft²

Residential

110 Kaanapali Shores Pl, Unit 609, Kaanapali, HI

MLS® #401686

Listed By: Keller Williams Realty Maui-L
Office Contact: Cell: 808-357-0958

Mahana 609 - Hotel Zoned Property Per County Records. Introducing A Stunning Two-bedroom, Two-bathroom Direct Oceanfront Residence Spanning 1,214 Sq. Ft. This Spacious Corner Unit Boasts A Generously Sized Patio With Extra Windows Enhancing The Unit With Na...

Three Generations Have Cherished This Incredibl...

NEW Photo of Listing #404362

$2,595,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 5.01 Acres
  • 1,178 ft²

Residential

110 Kaanapali Shores Pl, Unit 211, Kaanapali, HI

MLS® #404362

Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-276-6061

Three Generations Have Cherished This Incredible Spot For Over 45 Years. This A Fabulous Place To Call Home, For So Many Reasons!! A Home On The Water In Kaanapali Beach Couldn’t Be Touched For Less Than $15 Million Dollars. This Family Cherished Property, ...

Sensational Spacious Corner Beachfront Condo Lo...

Photo of Listing #403400

$2,550,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 7.32 Acres
  • 1,660 ft²

Residential

4299 Lower Honoapiilani Rd, Unit 324, Napili/kahana/honokowai, HI

MLS® #403400

Listed By: Sullivan Properties Inc

Sensational Spacious Corner Beachfront Condo Located On The Third Floor At The Sands Of Kahana. Impeccable Remodel And Beautifully Appointed Condo Which Has Two Master Bedroom Suites, Central Ac., All Contained Within A Palatial 1660 Interior Sq. Ft. Plus T...

This 5th Floor Sr536 Corner Units Offers Not On...

REDUCED 7% Photo of Listing #402069

$2,545,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 39.84 Acres
  • 1,240 ft²

Residential

130 Kai Malina Pkwy, Unit Sr536, Kaanapali, HI

MLS® #402069

Listed By: Kaanapali Resort Realty LLC

This 5th Floor Sr536 Corner Units Offers Not Only An Ocean View, But Also The Beautiful Green West Maui Mountains. Just Below You Have The Large Expansive Green Beltway Lawn Area. This Sought After Corner Location Truly Brings The Outdoors In. Very Large La...

Unit #2-101 (#211) Is The Most Sought After Gr...

Photo of Listing #400810

$2,525,000 Active Fee Simple

  • 1 Beds
  • 2 Baths
  • 8.01 Acres
  • 1,452 ft²

Residential

50 Nohea Kai Dr, Unit 2-101, Kaanapali, HI

MLS® #400810

Listed By: Kaanapali Resort Realty LLC

Unit #2-101 (#211) Is The Most Sought After Ground-floor Inner Courtyard Side Unit. Primarily Because You Have The Convenience Of The Ground Floor Offering You The Luxury Of Walking In And Out, But It Also Offers The Most Privacy For Ground Floor Units As...

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

 

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