Maui Oceanfront Homes: Market Overview November 2019
Posted
by Courtney M. Brown
on Saturday, November 30th, 2019 at 3:13pm.
MAUI OCEANFRONT HOMES Market Update, November 2019
1437 Front Street is an oceanfront home for sale in the heart of Lahaina, on historic front street View More Information
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.
Welcome To The Whaler Kaanapali, Maui, Unit 720, Where Laid-back Luxury Meets Comfort And Convenience In Kaanapali. This 1-bedroom, 1-bathroom Luxurious Condo Spans 901 Square Feet And Is The Perfect Blend Of Style And Relaxation. Located On Iconic Kaanapa...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-9007
Beautiful, Quiet & Spacious Are A Few Of The Words That Come To Mind For This 'gem Of A Unit' At The Beachfront Ritz-carlton Maui, Kapalua. Gorgeous Ocean & Mountain Views. This Is A Great Place To Unwind And Relax On One Of The Two Spacious Covered Lanais ...
Whaler 769 Has Been Owned By One Family For The Last 35 Years. It's Never Been In A Rental Program And It Shows. The Property Is Offered Turnkey For Rentals Or Is Ready As Your Own Retreat. Its Location High On The South Side Of Tower 2 Offers Views Of T...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-268-0691
This Rare Location With Breathtaking Ocean Views Is A Must See! Ma'alaea Surf Is A Low Density, 59 Units Over 5 Acres Hidden Gem On The Beach. Enjoy Walking Miles Of Sugar Beach All The Way To Ma'alaea Harbor! The Resort Has Two In-ground Pools, Basketball...
Konea 110 Is A Unique Opportunity To Own A Spacious One-bedroom Ground-floor Residence At The Coveted Honua Kai Resort. It Is The First Ground-floor One-bedroom Unit To Become Available Since March 2022, Making It A Truly Rare Find. Ground-floor Living Off...
Listed By: Susan Jackson Real Estate Office Contact: Cell: 865-206-1234
A Konea Studio Is Now Available For Sale! You Can Own This Spacious Home Located On The Fourth Floor Of The Konea Building And Enjoy Its Private Lanai With Fabulous Ocean And Lush Resort Garden Views! It's Equipped With A Full Cook's Kitchen, Along With A ...
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-276-6473
Darling I Love You, But Give Me A Maui View...any Day, Anytime!! Opportunity Knocks...hotel-zoned Airbnb! Walk In And Experience The Oohs And Aaahs Of Maui Beachfront Living In This Gorgeous, Updated 2bed/2bath Condo Here At Menehune Shores, In Kihei! To...
4909 Lower Honoapiilani Rd, Unit D3, Napili/kahana/honokowai, HI
MLS® #399736
Listed By: Hawaiian Islands Mgmt. LLC
Ocean Front Complex. Kahana Sunset D-3 Located On Keonenui Bay, Steps Away From The Beach, 2 Bed, 2.5 Baths , Beautifuly Remodeled.one Master Bedroom Is Located Upstairs With Full Ocean Views And Lanai.2nd Master Bedroom Is Also Upstairs. Each Bedroom Has I...
5290 Lower Honoapiilani Rd, Unit A-1, Napili/kahana/honokowai, HI
MLS® #401970
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-280-6359
Napili Point I Boasts An Exceptional Oceanfront Location On The West Side Of Maui, Offering Breathtaking Views. This One-bedroom, One-bathroom Unit Is Positioned On "the Point," Making It The Closest Unit To The Footpath Leading To Crescent-shaped Napili Ba...
Hale Hui Kai Is Directly On Keawakapu Beach Offering 40 Boutique Vacation Rental Condos In A Very Convenient Location. Rarely Available, At The Time Of This Listing, It Is The Only Condo Active On The Market. Enjoy Stunning And Panoramic Ocean And Sunset Vi...
3445 Lower Honoapiilani Rd, Unit 737, Kaanapali, HI
MLS® #401512
Listed By: Hawaii Lani Realty
This Luxurious 2 Bedrooms, 2 Bathrooms, Bright Ambient Living Room Area With Fully Furnished Kitchen, Equipped With Glass Cook-top Electric Range W/oven, Microwave, Dishwasher, Granite Countertops, Custom Kitchenware Cabinetry, Complimented With An Island G...
Kailani Suite At Hana Kai Resort. Spectacular 1 Bedroom 1 Bathroom Ocean Front Property Condo In Hana. Top Floor Corner Unit. Panoramic Ocean View With Sounds Of The Ocean From Every Room. Maintenance Fee Includes Electric, Refuse, Water, Common Areas, Laun...
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) & Team Vice President Island Sotheby's International Realty
