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.
Listed By: Real Broker LLC Office Contact: mark@beachologyinc.com
Wow! The Views!! Discover The Epitome Of Beachfront Living In This Meticulously Appointed 9th-floor, End Unit At The Prestigious Maui Kai, Where Panoramic Ocean Views And The Sounds Of Gentle Waves Create Your Daily Symphony Of Paradise. This Well-appointe...
3823 Lower Honoapiilani Rd, Unit 209, Napili/kahana/honokowai, HI
MLS® #405606
Listed By: Hawaii Life (W) Office Contact: Cell: 808-870-3434
There's Oceanfront, And Then There's Oceanfront. This Rarely Available, Two-bedroom Two-bath Oceanfront, End Unit At Hale Ono Loa Sits Right Above The Beautiful Blue Pacific. From Your Covered Lanai (and Almost Anywhere In The Unit) Watch The Whales (season...
Hotel Zoned*lowest Priced Condo At The Resort. This One-bedroom, One-bath Condo Located In The Hotel Zone At Honua Kai Resort Offers A Prime Opportunity For Those Seeking A Vacation Rental Property With Excellent Amenities And A Great Location. Positioned O...
3875 Lower Honoapiilani Rd, Unit B402, Napili/kahana/honokowai, HI
MLS® #403923
Listed By: Real Broker LLC Office Contact: janice@buyandsellmaui.com
Welcome To Hale Mahina B402. This Spacious 2 Bedroom Unit Is Nicely Upgraded And Just Steps From The Warm And Crystal Clear Ocean. Enjoy Views Of Lanai, Molokai, Sea Turtles, And Whales, During Whale Season. This Condo At 1440 Square Feet And Features Many ...
3445 Lower Honoapiilani Rd, Unit 361, Kaanapali, HI
MLS® #404283
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-205-2787
Discover The Ultimate Beachfront Lifestyle In This Rarely Available 2 Bed 2 Bath Oceanfront Condo At Kaanapali Shores. Located In One Of The Best Locations In The Complex, Unit 361 Has Significant Upgrades And All New Modern Furnishings, While Offering Unob...
Listed By: Susan Jackson Real Estate Office Contact: Cell: 865-206-1234
Don’t Miss This Fabulous Opportunity To Own At Honua Kai. This Very Large One-bedroom (765 Sq Ft) Has It All! Wake Up To Gorgeous Sunrises Over The Maui Mountains. Sip Your Coffee From Your Spacious Lanai And Enjoy The West Maui Rainbows. Then Off To Th...
Listed By: Hawaii Life (KAP) Office Contact: Cell: 808-205-3995
Hokulani 424 In The Honua Kai Resort Is Ka'anapali Living At Its Finest. This 1 Bedroom/1 Bathroom Unit Has Beautiful West Maui Mountains Views. Enjoy Indoor/outdoor Living With Nano Doors In The Living Room, Allowing You To Seamlessly Flow Inside And Out....
5295 Lower Honoapiilani Rd, Unit B35, Napili/kahana/honokowai, HI
MLS® #405407
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-463-2445
This Beautifully Upgraded One-bedroom, One-bathroom Condo Offers Stunning Views Perched Above Honokeana Bay, With Expansive Panoramas Of Lanai And Molokai. It's The Ideal Spot To Soak In Maui's Legendary Sunsets And, During The Season, Watch Migrating Whale...
Welcome To Whaler 415, A Beautifully Upgraded Studio Residence Ideally Located On The World-famous Kaanapali Beach. Positioned In The Sought-after North Tower And Facing Into The Peaceful Courtyard, This Unit Captures Stunning Year-round Sunset Views Across...
3445 Lower Honoapiilani Rd, Unit 423, Kaanapali, HI
MLS® #405396
Listed By: Century 21 Island Homes
Experience The Epitome Of Beachfront Living At Aston Kaanapali Shores #423. Hotel Zoned And Located Perfectly On The Fourth Floor, This Resort Style Condominium Offers Two Bedrooms, Two Bathrooms, And Accommodations For Up To Six Guests. A Spacious Private...
3445 Lower Honoapiilani Rd, Unit 652, Kaanapali, HI
MLS® #405755
Listed By: Maui Luxury Real Estate LLC
Welcome To Kaanapali Shores—a Premier Hotel-zoned Beachfront Resort That Seamlessly Combines Tropical Elegance, Comfort, And Convenience. This Inviting 2-bedroom, 2-bathroom End Unit Boasts Ocean Views And A Floor Plan That Allows For Abundant Natural Light...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-276-6061
There Is A Virtual Tour Link Attached For A Great Perspective On The Location, As Well As The Grounds And Amenities. There Is A Lovely Large Swimming Pool, Wonderful Spa, Tennis Courts, Shuffle Board, And A Bbq Area, With Gas Grills. The Kitchen And Bath A...
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
