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: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-344-0180
This Beautifully Updated 1 Bedroom, 2 Bathroom Condo Is Ground Floor With Great Garden Views And A Peek-a-boo Ocean View. It Has A Fully Equipped Kitchen, Washer And Dryer, Window Unit Air Conditioning In Both Master Bedroom And Living Room, And Ceiling Fan...
3445 Lower Honoapiilani Rd, Unit 231, Kaanapali, HI
MLS® #404995
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 231 - Welcome To This Charming One-bedroom, One-bath Condominium Located On The Second Level Of Kaanapali Shores. This Prime Unit Offers Convenient Parking And Access To The Outdoor Activities. From The Lanai You Will Find Beautiful Views O...
4365 Lower Honoapiilani Rd, Unit 907, Napili/kahana/honokowai, HI
MLS® #405378
Listed By: Berkshire Hathaway Maui Prop-L
Royal Kahana 907 Is A Beautifully Upgraded Fee Simple Oceanfront Condominium Offering Stunning, Unobstructed Views Of The Pacific Ocean And The Outer Islands From Its Desirable 9th-floor Location. This Spacious And Bright Residence Features An Open Floor Pl...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-446-5350
Fantastic "remodeled" Beachfront Condo Located At Sugar Beach Resort. Zoned Hotel/resort. Remodel Includes: Quartz Countertops And Back Splashes In Kitchen And Bathrooms. Complete Interior Paint, New Exterior Storage Door, New Lighting Fixtures, Blinds, Rem...
The Pikake Maui Is A Charming Boutique Complex Of Only 12 Condos Located In The Honokowai Area Of West Maui. This Fee Simple Property Allows For Both Short-term And Long-term Rentals, Making It A Flexible Investment Or Personal Retreat. Opportunities To Own...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-870-8668
Welcome To Kihei Sands! This Quaint, Ground Floor Garden View Unit Has A Corridor Ocean View From The Lanai And Has Been Completely Upgraded (2022) With Tile Flooring Throughout, Newer Kitchen Cabinets And Granite Counter Tops. Walk -in Tile Shower And New...
3445 Lower Honoapiilani Rd, Unit 530, Kaanapali, HI
MLS® #406390
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 530 - This Exquisite Fifth-floor Ocean View One-bedroom One-bath Unit Is Situated In A Great Location At The Beachfront Resort Of Kaanapali Shores, Making It The Ideal Retreat For Both Family Vacations And Full-time Living. The Property Fea...
Wake Up To The Sound Of Waves And Step Directly From Your Lanai Onto The Oceanfront Lawn—island Sands 104 Offers A Front-row Seat To Maalaea Bay, With Sweeping Views Of Haleakala And The West Maui Mountains. From Morning Sunrises To Seasonal Whale Watching,...
Experience The Ultimate Maui Lifestyle At Lahaina Shores #617, A Rare Hotel-zoned, Beachfront Resort Residence Just Steps From The Sand. This Stunning Studio, 1-bath Condo Has Been Beautifully Reimagined With Modern Coastal Décor Curated By One Of Maui’s To...
Oceanfront Property! Easy To Show Beautifully Upgraded Corner Unit With The Largest One-bedroom Floor Plan In This Popular Oceanfront Complex. The Kitchen And Bathroom Have Gone Through Extensive Remodel Over The Years. Enjoy Your Breakfast And Watch The W...
Discover Kauhale Makai 403 - Super Easy To Show As This Unit Has Stayed Vacant And Pristine, Only Used By Family And Friends. This Beautifully Renovated 1-bedroom, 1-bathroom Condo Spans 686 Square Feet With A Completely Renovated Open Kitchen, Bathroom, An...
Panoramic Ocean Views Of Maalaea Bay And Sweeping Mountain Views Of Haleakala And The West Maui Mountains Await From This Direct Oceanfront Unit At Maalaea Banyans. This Fully Furnished One-bedroom, One-bath Condo Features Tile Flooring In Kitchen And Bathr...
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
