Maui Oceanfront Homes: Market Overview November 2019

Posted by Courtney Brown on Saturday, November 30th, 2019 at 3:13pm.

MAUI OCEANFRONT HOMES
Market Update, November 2019

Lahaina Oceanfront Home for Sale

1437 Front Street is an oceanfront home for sale in the heart of Lahaina, on historic front street
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Update 1/27/2020:  Since this post was written, the classification of 6 sales in Makena was changed from Beachfront to Across the Street from the Ocean.  These sales totaled $60,162,136.  As they were developer sales the escrow could only close once construction was complete, so they had a very high Days on Market Count, averaging 1202 days on market.

As such, the statistics and summary below have changed.  Please see the post written 1/27/2020 for updated statistics.

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 tend to be highest in the resort areas of West and South Maui. 

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.  Looking at this year (YTD vs. 2018), the average sales price remains fairly consistent, yet the average Sales Price ($) per square foot has increased to $1902/sq. ft.  It is interesting to note, 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.

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 50 17 14 12 7 0
Low List Price $750,000 $2,200,000 $3,500,000 $999,000 $750,000  
Average List Price $7,962,899 $11,359,705 $9,963,785 $4,006,416 $2,494,285  
High List Price $37,500,000  $37,500,000 $29,750,000 $12,000,000 $6,500,000  
Average LP/Sq. Ft. $2183 $2869 $2497  $1261 NA NA 
Pending Sales 4 0 2 2 0 0
Average List Price $3,699,500 NA $3,724,000 $3,675,000 NA NA
Supply of Inventory* 27.5 months 37.4 months 17.1 months 44 months 91 months NA
2019 YTD Sales 20  5 2 3 NA 3
Low Sales Price $321,300  $600,000 $3,450,000 $3,400,000   $321,300
Average Sales Price $6,318,559 $4,184,999 $9,801,348 $5,341,666   $403,016
High Sales Price $13,950,000  $9,000,000 $13,950,000 $8,600,000   $565,000
Sales Volume 2019 YTD $126,371,185  $20,924,999 $17,400,000 $16,250,000  0 $1,209,050
Average SP/Sq. Ft. $1902 $1382 $2813 $1705    $234 

*based on past 11 months of sales, with the exception of East Maui, which required going back to 2018.  With only one sale in 2018, the sale was then multiplied by a factor of 13

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.

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 YTD  20 | -15% $126,371,185 | -17%  $6,318,550 | -2% $1902 | 8% 554 | 50% 88%

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.  This compares 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

75 Properties Found. Page 1 of 7

Boasting Nearly Ten Captivating Acres Of Oceanf...

Photo of Listing #384865

$37,500,000 Active Fee Simple

  • 8 Beds
  • Baths
  • 9.96 Acres
  • 6,645 ft²

Residential

9 Bay Dr, Kapalua, Hawaii

MLS® #384865

Listed By: Hawaii Life (KAP)

Boasting Nearly Ten Captivating Acres Of Oceanfront, 9 Bay Drive Is The Crown Jewel Of Conservation Land Known As Hawea Point In West Maui. Nestled Into The Prime Location Within Kapalua Resort, This Gated Legacy Property, Along With The Adjacent 12+ Acre O...

A Hotel-zone Architectural Masterpiece Is Final...

Photo of Listing #385437

$27,498,000 Active Fee Simple

  • 4 Beds
  • Baths
  • 0.44 Acres
  • 5,065 ft²

Residential

4508 Makena Rd, Wailea/makena, Hawaii

MLS® #385437

Listed By: Island Sotheby's Int'l Rlty(W)

A Hotel-zone Architectural Masterpiece Is Finally On The Market. Ideally Located On One Of The Most Coveted Beaches In The World, This Newly Constructed 4 Bedroom / 5.5. Bathroom Fully-furnished Beachfront Estate Offers A Quiet Getaway While Being Within Wa...

Kaanapali’s Beachfront Masterpiece! Located On ...

Photo of Listing #384903

$24,500,000 Active Fee Simple

  • 8 Beds
  • Baths
  • 0.98 Acres
  • 11,076 ft²

Residential

20 Kai Ala Dr, Kaanapali, Hawaii

MLS® #384903

Listed By: Hawaii Life (KAP)

Kaanapali’s Beachfront Masterpiece! Located On Close To One Acre Of Land, Just North Of Black Rock And The Sheraton Hotel, This Exquisite Estate Boasts Stunning Views Of The Ocean And Sunsets, As Well As Whale Watching In Season. This Legacy Property Of Ove...

Rare Keauhou At Makena Estate Offers Sophistica...

Photo of Listing #385175

$23,000,000 Active Fee Simple

  • 5 Beds
  • Baths
  • 3.14 Acres
  • 5,882 ft²

Residential

4557 Makena Rd, Wailea/makena, Hawaii

MLS® #385175

Listed By: Coldwell Banker Island Prop(S)

Rare Keauhou At Makena Estate Offers Sophisticated, Contemporary Flair And Over Three Acres Of Manicured Tropical Landscaping Making It Both An Ideal Private Retreat And A Home For Those Who Love To Entertain. Positioned Peacefully Above The White Sand Of P...

Stunning Contemporary Direct Oceanfront Estate ...

Photo of Listing #385480

$19,995,000 Active Fee Simple

  • 5 Beds
  • Baths
  • 0.51 Acres
  • 9,176 ft²

Residential

5050 Makena Rd, Wailea/makena, Hawaii

MLS® #385480

Listed By: Coldwell Banker Pacific Prop.

Stunning Contemporary Direct Oceanfront Estate Perfectly Situated On An Intimate Cove On The Makena Maui Shoreline. Striking Ocean And Coastal Views With Whales And Turtles Cruising Right Off The Property. Set On Over 22,190 Square Feet Of Land This Exquisi...

Never Before Offered! Incredibly Rare Opportuni...

REDUCED 16% Photo of Listing #381993

$18,000,000 Active Fee Simple

  • 3 Beds
  • 4 Baths
  • 0.52 Acres
  • 3,469 ft²

Residential

4478 Makena Rd, Wailea/makena, Hawaii

MLS® #381993

Listed By: The Wailea Group LLC

Never Before Offered! Incredibly Rare Opportunity To Own One Of Makena's Finest Beachfront Homes. Enjoy Over 150 Feet Of Prime Ocean Frontage With Breathtaking Postcard Outer Island Vistas. Lush, Mature Garden Landscaping With Private Gate To White Sand Bea...

Kapalua Beachfront - This Is One Of Only 4 Beac...

REDUCED 8% Photo of Listing #383337

$16,500,000 Active Fee Simple

  • 6 Beds
  • Baths
  • 0.64 Acres
  • 6,631 ft²

Residential

3 Kapalua Pl 3, Kapalua, Hawaii

MLS® #383337

Listed By: Keller Williams Realty Maui-L

Kapalua Beachfront - This Is One Of Only 4 Beachfront Homes In Kapalua - A Rare Opportunity To Own A Stunning Island Contemporary Architectural Masterpiece By Award-winning Hawaii Architect, Jeffrey Long. Situated On 28,000 Square Feet Of Pristine Beachfron...

This Alluring Oceanfront West Maui Estate Rests...

Photo of Listing #386443

$15,500,000 Active Fee Simple

  • 7 Beds
  • Baths
  • 0.51 Acres
  • 8,412 ft²

Residential

4809 Lower Honoapiilani Rd, Napili/kahana/honokowai, Hawaii

MLS® #386443

Listed By: Hawaii Life (KAP)

This Alluring Oceanfront West Maui Estate Rests On 1/2 Acre Of Prime Land In Kahana With Over 250 Feet Of Lineal Ocean Frontage Providing Panoramic Ocean Views, Sweeping Views Of The Neighbor Island Of Lanai And Glimpses Of Molokai. Perfectly Located Betwe...

Hale Makana Ola Is An Oceanside Property Design...

Photo of Listing #386433

$12,990,000 Active Fee Simple

  • 3 Beds
  • Baths
  • 0.57 Acres
  • 3,919 ft²

Residential

7381 Makena Rd, Wailea/makena, Hawaii

MLS® #386433

Listed By: Hawaii Life (W)

Hale Makana Ola Is An Oceanside Property Designed For Wellness, Relaxation, Privacy, And Sublime Pacific Views. Molikini, Kaho’olawe, And Lanai Are A Highlight Of The Ocean Scenery With Views From The Kitchen, Living Areas, Master Bedroom And Saltwater Spa....

Situated Atop Over An Acre Of The Most Sought-a...

Photo of Listing #383405

$12,900,000 Active Fee Simple

  • 3 Beds
  • Baths
  • 1.16 Acres
  • 2,742 ft²

Residential

4680 Makena Rd, Wailea/makena, Hawaii

MLS® #383405

Listed By: Island Sotheby's Int'l Rlty(W)

Situated Atop Over An Acre Of The Most Sought-after Real Estate In South Maui, 4680 Makena Road Offers A Rare Balance Of Unrivaled Privacy, Convenient Access To Some Of Hawaii’s Finest Amenities, Beachfront Access To One Of Maui’s Most Revered Beaches, And ...

A Rare Opportunity Is Now Available On Maui’s S...

Photo of Listing #385506

$12,500,000 Active Fee Simple

  • 2 Beds
  • Baths
  • 0.55 Acres
  • 976 ft²

Residential

3016 S Kihei Rd, Kihei, Hawaii

MLS® #385506

Listed By: Coldwell Banker Island Prop(S)

A Rare Opportunity Is Now Available On Maui’s South Shore And World Famous Keawakapu Beach. This Property Is Being Sold With Approved Permits And Ready To Build. The Original Structure Will Become A Beautiful Outdoor Kitchen, Bbq, Living Area Along With 1 B...

This Home Affords One Of The Most Powerful View...

Photo of Listing #383338

$11,750,000 Active Fee Simple

  • 5 Beds
  • Baths
  • 0.82 Acres
  • 5,485 ft²

Residential

5490 Makena Rd, Wailea/makena, Hawaii

MLS® #383338

Listed By: Hawaii Life (W)

This Home Affords One Of The Most Powerful View Locations In All Of South Maui. The Premier View Home Site Of This Gated 7 Lot Oceanfront Compound Is Nothing Short Of Remarkable. From The Landmark Pu'u, Rust Red Cinder Cone, Rising Out Of The Deep Blue Oce...

Corrected and Revised 1/27/2020

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.
vision figures for both condos and home sites.  Some condo and some homesites have been combined to be one property.  This is not reflected in the number above.
Above information on total properties is provided by Fidelity National Title and is believed to be accurate but is subject to change.

Courtney M. Brown, R(S)
Vice President
Island Sotheby's International Realty

 

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