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.
3765 Lower Honoapiilani Rd, Unit 307, Napili/kahana/honokowai, HI
MLS® #402370
Listed By: Kapalua Properties Ltd
Location,location,location.wow. Here Is Your Chance For Year Round Sunsets And Crystal Blue Waters From The Shore To Lanai And Molokai In A Direct Oceanfront Residence. 3 Bedrooms, 2.5 Bathrooms With Central A/c Ready To Live In Or See It As A Clean Pallet ...
3833 Lower Honoapiilani Rd, Unit A205, Napili/kahana/honokowai, HI
MLS® #405480
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-344-4167
Welcome To Lokelani A205. This Extremely Rare Direct Oceanfront 2 Bedroom/2 Baths Unit Is Located In One Of The Most Sought-after Condo Complex In West Maui. The Spacious Two-story Unit Boasts 2 Direct Oceanfront Lanais Where You Will Be Able To Enjoy Yea...
3300 Wailea Alanui Dr, Unit 46a, Wailea/makena, HI
MLS® #405772
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-866-2334
Welcome To Ekahi 46a, Privately Tucked Away Along The Serene Greenbelt Just Steps From The Upper Pool, This Beautifully, Recently Renovated Wailea Ekahi Condo Offers The Perfect Blend Of Modern Design And Tropical Tranquility. The Interior Features A Though...
Listed By: Susan Jackson Real Estate Office Contact: Cell: 865-206-1234
Take Advantage Of The Rare Opportunity To Own One Of The Larger One-bedroom Homes At Honua Kai. This Home Offers Every View Imaginable, From A Garden View To A Majestic Mountain View To Even A Partial Ocean View! Konea 510 Has It All! Meticulously Cared ...
Top-floor One-bedroom, One-bath Condo At Honua Kai Resort – Luxury Living In Kaanapali's Hotel Zone. Embrace Island Living At Its Finest In This Stunning Top-floor One-bedroom, One-bath Condo At The Luxurious Honua Kai Resort, Nestled In The North Part Of K...
4909 Lower Honoapiilani Rd, Unit A8, Napili/kahana/honokowai, HI
MLS® #404094
Listed By: Lilikoi Realty
This Is An Active Vacation Rental. This Complex Is Not On The Minatoya List. Stunning Views Await You! This Condo At Kahana Sunset Resort Is Nestled In Its Tropical Paradise On The Beach. It's Close To Napili Market Place, Located Between Kahana And Kapal...
3875 Lower Honoapiilani Rd, Unit A-401, Napili/kahana/honokowai, HI
MLS® #404234
Listed By: Coldwell Banker Island Prop(Ka) Office Contact: Cell: 808-385-4665
Extremely Rare Opportunity To Own The One And Only 3bd/3bth, Corner Penthouse Unit At The Oceanfront Vacation Rental Complex Of Hale Mahina. Upon Entry You Are Greeted With Impressive Vaulted Ceilings. Immediately Your Eyes Will Be Drawn To Your Private Lan...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-3067
Unit 108 At Maui Ka'anapali Villas Is A Beautifully Furnished 2 Bedroom, 2.5 Bathroom Ground-floor Condo Located In The Sought-after Aloha Tower. This Spacious And Inviting Residence Combines The Ease Of Condominium Living With The Feel Of A Luxury Resort, ...
110 Kaanapali Shores Pl, Unit 806, Napili/kahana/honokowai, HI
MLS® #405621
Listed By: Welcome Hawaii Properties Office Contact: Cell: 808-280-2480
Mahana #806 Is A Stylish West Maui Residence Where Panoramic Ocean Views Await At Every Turn, And The Lap Of The Waves Is Your Daily Soundtrack. Sitting Right On West Maui's Famed Golden Sands In The Sought-after Mahana At Kaanapali Building Within The Fu...
Listed By: Susan Jackson Real Estate Office Contact: Cell: 865-206-1234
Take Advantage Of The Rare Opportunity To Own A Full Sized One-bedroom Home At Honua Kai Which Boasts Majestic Mountain, Resort And Ocean Views. Situated On The Southern Side Of The Hokulani Tower, This Home Has It All! Meticulously Cared For, 714 Offers ...
Get Away From It All At Hana's Only Vacation Rental Complex. Fall Asleep To The Crashing Of The Waves, As The Rocks Graze The Shore At Waikoloa Beach. Fully Furnished, Turnkey Studio Offers Jaw Dropping Views From The Lanai And Excellent Rental Income. List...
4909 Lower Honoapiilani Rd, Unit A4, Napili/kahana/honokowai, HI
MLS® #404805
Listed By: Sullivan Properties Inc
Stunning Ocean Views! This 2 Bedroom 2.5 Bath Remodeled Townhouse Is In Building "a" At Kahana Sunset Which Is Located On Pristine Keonenui Bay In The Kahana Area Just South Of Napili/kapalua. Enjoy The Panoramic Views Of The West Maui Sunsets To The Winter...
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
