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.
3300 Wailea Alanui Dr, Unit 13d, Wailea/makena, HI
MLS® #404511
Listed By: Island Sotheby's Int'l Rlty(W) Office Contact: Cell: 808-264-1695
Ocean Views! Experience Paradise In Wailea Ekahi Unit 13d, A Stunning One Bedroom Condo With Vaulted Ceilings And Breathtaking Panoramic Ocean Views. Located In A Luxurious Beachfront Complex, This Immaculate Unit Has Been Lovingly Maintained And Thoughtful...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-357-6980
Welcome To Unit 423, A Seamless Blend Of Contemporary Elegance And Island Serenity. Situated In The Sought-after Hokulani Tower, This Fully Furnished Unit Is Designed For Effortless Living. Thoughtfully Upgraded With Premium Bosch Appliances, A Brand-new Ge...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-757-5113
Amazing Opportunity To Own An Ocean-view 1 Bedroom At The Whaler On Kaanapali Beach! Beachfront Living At Its Finest On One Of The Best Beaches In The World. Spend Your Winters Looking At Maui's Beautiful Humpback Whales Breaching In The Distance. The Whale...
Menehune Shores #619 – Rare Oceanfront Penthouse In Hotel (h-m) Zone! Welcome To Menehune Shores #619, A Rarely Available Top-floor Penthouse Offering Breathtaking Direct Oceanfront Views. This Exceptional Property Boasts Panoramic Vistas Of The Pacific, C...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-344-0180
Welcome To Unit 333 At The Exquisite Honua Kai Resort. This Luxurious Condominium Boasts Premium Bosch Appliances, A Brand-new Luxury Bed, Granite Countertops, An In Unit Washer And Dryer, Expansive Bifold Doors, And Brand New Lanai Furnishings That Seaml...
Experience The Ultimate Ocean View And Luxury Living In This Stunning Beachfront Property With High-end Finishes. Welcome To Maui Sunset B420, An Exceptional 2-bedroom, 2-bathroom Oceanfront Condo That Offers The Perfect Blend Of Comfort, Style, And Breatht...
5255 Lower Honoapiilani Rd, Unit 119, Napili/kahana/honokowai, HI
MLS® #405496
Listed By: Hawaii Life (L) Office Contact: Cell: 808-357-2998
Unit 119 At Honokeana Cove Offers An Exceptional Opportunity To Own A True Oceanfront 1-bedroom, 1-bathroom Condominium In One Of West Maui’s Most Iconic Locations. Situated In The Only Direct Oceanfront Building On The Property, This Ground-floor Unit Feat...
3300 Wailea Alanui Dr, Unit 47a, Wailea/makena, HI
MLS® #405098
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-276-5330
Welcome To This Charming 1-bedroom, 2-bath Condo In The Coveted Wailea Ekahi Oceanfront Complex. This Ground-floor Unit Offers Seamless Indoor-outdoor Living With No Stairs And A Private Covered Lanai Which Connects To A Lush Greenbelt That Has Wonderful V...
Experience The Magic Of Private Oceanfront Living With This Exceptional 3-bedroom, 2-bathroom Hawaiian Plantation-style Home—maui's Most Affordable Oceanfront Property! Situated On A 3/4 Acre Point, This Unique Retreat Offers Unparalleled Privacy And Breath...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-344-2677
If You Crave Hawaiian Island Luxury Living That Includes World-class Hospitality Experience That Is Second To None, Your Time Is Now. The Ritz Carlton Hotel Suites 1502 Is 1 Bedroom, 1 Bathroom Spaciously Spread Across 872 Sq. Ft. Of Single-level Living Sit...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-283-5460
Hotel Zoned, One-of-a-kind Stunning Remodel At Menehune Shores. Ocean, Maalae'a And West Maui Mountain Views Abound As You Step Through The Front Door. So Many Luxury Touches Throughout Make This Condo Live Like A Home. The Chef Inspired Kitchen Has Been Co...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Whaler 720- Available To See On April 24 And April 25. Welcome To Whaler At Kaanapali Beach! This Stunning Seventh-floor Unit Offers Breathtaking Ocean Views That Stretch Out Towards The Enchanting Island Of Molokai, Promising A Unique And Captivating Scene...
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
