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.
4909 Lower Honoapiilani Rd, Unit D3, Napili/kahana/honokowai, HI
MLS® #399736
Listed By: Hawaiian Islands Mgmt LLC
Just Reduced!!! - $900,000-ocean Front Complex. Kahana Sunset D-3 Located On Keonenui Bay, Steps Away From The Beach, 2 Bedrooms, 2.5 Baths , Beautifuly Remodeled New Furniture. Upgraded Front Door And Guest Bedroom Window!! Ac Upgraded!! One Master Bedro...
4909 Lower Honoapiilani Rd, Unit D7, Napili/kahana/honokowai, HI
MLS® #404589
Listed By: Sullivan Properties Inc
Kahana Sunset D7 Is A Remodeled Two Bedroom Two Bath Townhouse Condo Which Looks Out Over The Pool And Courtyard And Beyond To The Island Of Molokai Along With Spectacular West Maui Sunsets! Enjoy The Comfort Of The Split System Air Conditioning Which Servi...
4401 Lower Honoapiilani Rd, Unit A-103, Napili/kahana/honokowai, HI
MLS® #403984
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-357-4000
Wonderfully Remodeled Ground Floor 2bd Unit At Hololani, With An Expanded Kitchen To Allow More Counter Space And More Storage. The Floorplan Was Reconfigured To Allow Larger Bedrooms And More Functional Bathrooms. There Really Isn't Another Unit Like A103...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-987-2490
Location, Location, Location! This Direct Oceanfront Small Condominium Development Sets Between Charley Young Beach And The Cove Surf Beach And Offers Mesmerizing Views Of Outer Islands And Gorgeous Maui Sunsets You Will Never Tire Of. Step Inside The Recen...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-357-5000
Welcome To Wailea Ekahi #3d, A Rare Studio Offering Known As The “treehouse Retreat”. Nestled On The Second Level, This Charming Unit Boasts High Vaulted Ceilings And A Lanai Surrounded By Lush Greenery, Including Plumeria Flowers, Hibiscus, And Palm Trees ...
3543 Lower Honoapiilani Rd, Unit L304, Napili/kahana/honokowai, HI
MLS® #406328
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-281-7313
Watch The Whales Breach, From This Very Private, Third Floor One Bedroom Condo. Papakea L304 Has A Direct Oceanfront Location And Faces West With Fabulous Sunsets, Whales Breaching And Views Of The Islands Of Molokai And Lanai. Twenty-four Hours Of Waves To...
3543 Lower Honoapiilani Rd, Unit J105, Napili/kahana/honokowai, HI
MLS® #406668
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-3067
Welcome To Papakea J105, A Beautifully Remodeled Ground-floor 2-bedroom, 2-bathroom Condo Offering Comfort, Privacy, And Convenience In One Of West Maui’s Most Desirable Oceanfront Resorts. This Fully Furnished Unit Boasts Tranquil Garden Views, High-speed ...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-866-2334
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Prepare To Be Mesmerized By The Unobstructed Ocean Views Showcased Through The Expansive Windows Of This Exceptional Unit - A Sight That Will Truly Take Your Breath Away! Perfectly Situated In A Prime Central Location, You'll Have Easy Access To Maui's Sout...
4401 Lower Honoapiilani Rd, Unit B501, Napili/kahana/honokowai, HI
MLS® #405348
Listed By: Jeffrey Samuels Realty
Hoa Covers All Your Utilities. Imagine Waking Up To The Gentle Sound Of Waves And The Breathtaking Sight Of Molokai Across The Sparkling Blue Waters. Now Is Your Chance To Own A Beautifully Remodeled Fifth-floor Condo At The Hololani Resort, Where Comfort M...
3445 Lower Honoapiilani Rd, Unit 311, Kaanapali, HI
MLS® #405991
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MLS® #402225
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-250-3834
You've Got To Come And See Your New Home, Or Your Home Away From Home! There Is No Escaping The Incredible Ocean Views This Condo Has Waiting For You. The View From This Condo Makes The Ocean Look Like It's Your Swimming Pool, Whether You're Sitting On The ...
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
