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.
4471 Lower Honoapiilani Rd, Unit 202, Napili/kahana/honokowai, HI
MLS® #406083
Listed By: Equity Hawaii Real Estate LLC
Direct Ocean Front. The Monthly Hoa Fee For Unit 202 Is Scheduled To Be $1,225.00, Effective October 1, 2025. Your Front Row Seat To Whale Watching And Incredible Sunsets From Your Private Second Floor Lanai. Fully Furnished - All Bedroom, Living Room, Kitc...
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4471 Lower Honoapi'ilani Rd, Unit 118, Napili/kahana/honokowai, HI
MLS® #406765
Listed By: Hawaii Life (L) Office Contact: Cell: 808-280-1390
Kahana Reef! Welcome To Your Ground Floor Getaway Located On The Quiet North End Of The Property, Just Steps To The Beach Access In Kahana. After A Day Out Golfing In Kapalua Or Swimming With The Turtles Out Front, Throw Your Fresh Ahi On The Bbq Grills And...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-344-0180
Hotel Zoned, Vacation Rental, Ocean Front Property .... What More Could You Ask For! This 1 Bed, 2 Bath Condo Sits On One Of The Longest Stretches Of Beach In South Maul. Call Your Favorite Realtor Today Lo Schedule A Private Showing
Enjoy The Wide Open Ocean Views, Natural Light, And Beautiful Breezes From This Third Floor Home. This Nicely Renovated Unit Includes A Gourmet Kitchen For All Your Cooking Needs, Spacious Living Area And The Relaxing Outdoor Lanai To Enjoy The Views. The S...
3741 Lower Honoapiilani Rd, Unit 104, Napili/kahana/honokowai, HI
MLS® #405099
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-280-5054
Unobstructed Panoramic Ocean And Island Views Await! This Ground-floor, Oceanfront Unit At Kulakane Is Your Personal Slice Of Paradise, Offering Breathtaking Year-round Sunsets, Mesmerizing Vistas Of The Blue Pacific, And Front-row Seats To Seasonal Whale W...
3823 Lower Honoapiilani Rd, Unit 302, Napili/kahana/honokowai, HI
MLS® #406011
Listed By: Berkshire Hathaway Maui Prop-L
*seller Financing Available* Hale Ono Loa Residence 302 Is A Beautifully Renovated, Fee Simple One-bedroom, One-bathroom Vacation Rental Condominium On Maui’s West Side. This Third-floor Unit Offers Panoramic Pacific Ocean Views, Year-round Sunsets, Seasona...
Located At The Beautiful Kuleana Resort In West Maui This Oceanfront Ground Floor 1 Bedroom Luxury Condo Welcomes You To A Tropical World Of Calm And Relaxation Which Offers An Unparalleled Attention To Detail Throughout The Condo - All With The Objective T...
3445 Lower Honoapiilani Rd, Unit 442, Kaanapali, HI
MLS® #406577
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-250-5073
Kaanapali Shores 442 Is A Garden View Studio Unit Featuring A Full Kitchen, One Bathroom And Covered Lanai. This Unit Is Located On The North Side Of The Building Allowing The Flow Of Cool Trade Winds. Enjoy Views Of Honokowai Stream While Having Your Morni...
3445 Lower Honoapiilani Rd, Unit 817, Kaanapali, HI
MLS® #402860
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 817. This Is A Leasehold Hotel Zoned Property Comes With A 2010 Acura Rdx. Spectacular Location. 8th Floor 2 Bedroom 2 Bathroom. Excellent Ocean Views From The Remodeled Suite. Offering Granite Counter Tops, New Carpeting Throughout, And C...
3785 Lower Honoapiilani Rd, Unit 107, Napili/kahana/honokowai, HI
MLS® #403738
Listed By: Hawaii Life (W) Office Contact: Cell: 808-250-2178
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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
