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.
4327 Lower Honoapiilani Rd, Unit 802, Napili/kahana/honokowai, HI
MLS® #406088
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-870-0674
Oceanfront Opportunity In Hotel-zoned Resort! Wake Up To Panoramic Ocean Views From This 1-bed, 1-bath Condo At Valley Isle Resort In Kahana. This Spacious 768 Sq. Ft. Unit Features A Murphy Bed In The Living Area For Added Flexibility And Offers Stunning V...
3543 Lower Honoapiilani Rd, Unit C107, Napili/kahana/honokowai, HI
MLS® #403866
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-344-2677
Located In One Of West Maui Exclusive Oceanfront Condominium Communities, Papakea C107 Is The Perfect, Ground Floor Studio Property. Offering 454 Sq.ft. Of Living Area, This Property Is Centrally Located Within The Community And Offers Ocean, Resort And Gar...
4471 Lower Honoapiilani Rd, Unit 214, Napili/kahana/honokowai, HI
MLS® #405106
Listed By: Maui Ohana Real Estate LLC Office Contact: 808-280-1090
From Sunrise Coffee To Champagne Sunsets, Kahana Reef 214 Delivers Oceanfront Living So Close, You Can Taste The Salt In The Air. This Isn’t Just Real Estate — It’s Your Private Front-row Seat To Nature’s Best Show. Watch Whale Breaches, Turtles Cruise By, ...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-740-4180
Kauhale Makai, Unit 102 - Beachfront Property! This Great Little Studio Sleeps 4 And Is Steps Away From The Ocean. Conveniently Located On The Ground Floor, Sold Fully Furnished And Turn-key, Ready For You And Your Guests! This Beautifully Maintained Prop...
4909 Lower Honoapiilani Rd, Unit E2e, Napili/kahana/honokowai, HI
MLS® #407279
Listed By: Berkshire Hathaway Maui Prop-L
Welcome To Kahana Sunset E2e- This Beautifully Remodeled One-bedroom, One-bathroom Condominium Features An Open And Spacious Floor Plan, Perfect For Relaxed Island Living. Nestled In A Quiet And Serene Beachfront Setting, Unit E2e Offers Comfort And Style...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-357-4219
Ma’alaea Mermaid Condominium – Your Slice Of Paradise Experience The Charm Of Ma’alaea In This Beautifully Maintained Ocean-view Condominium At The Ma’alaea Mermaid. This Unit Offers A Seamless Open-concept Design That Lives Like A 2 Bedroom With Extensive...
Enjoy Panoramic, Unobstructed Views Of Molokai And Lanai From This Direct Oceanfront 4th-floor Studio At Valley Isle Resort. Take In Magnificent Ocean And Tropical Scenery From Your Private Lanai, With Easy Access To Swimming, Kayaking, And Stand-up Paddle ...
3875 Lower Honoapiilani Rd, Unit B204, Napili/kahana/honokowai, HI
MLS® #404296
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-268-0557
Welcome Home To Your Beachfront Oasis At Hale Mahina Or “house Of The Moon” In Hawaiian. Enjoy The Ocean Views, Trade Winds And Seasonal Whale Watching From Your Own Private Tropical Lanai. Hale Mahina Is Conveniently Tucked Between The Kaanapali And Kapu...
Wake Up To The Sights And Sounds Of The Pacific In This Beautifully Positioned Ground-floor Studio Condominium, Perfectly Perched On Kahana Beach. This Unit Offers Uninterrupted, Front-row Views Of The Ocean, With The Islands Of Lana‘i And Moloka‘i On The H...
26 Napili Pl, Unit 223, Napili/kahana/honokowai, HI
MLS® #407077
Listed By: Schyler B Church Office Contact: schyler@schylerchurch.com
Beautifully Renovated 400 Sqft Studio Condo Steps From Napili Bay Combines Island Charm With Modern Comfort. The Entire Unit Has Been Thoroughly Updated With New Flooring, Appliances, Plumbing And Light Fixtures, Etc. The Condo Is Being Sold Mostly Furnish...
4365 Lower Honoapiilani Rd, Unit 802, Napili/kahana/honokowai, HI
MLS® #405184
Listed By: Hawaii Life (KAP) Office Contact: Cell: 808-205-3995
Experience Island Living At Its Finest In Premium Studio 802 At The Royal Kahana Resort. Positioned In The Sought-after ‘02’ Stack, This Upgraded Studio Boasts Stunning North-facing Ocean Views From Its Private Lanai, Where You Can Take In Breathtaking Vist...
3785 Lower Honoapiilani Rd, Unit 103, Napili/kahana/honokowai, HI
MLS® #405992
Listed By: Chris Bakeman Realty LLC
Local Family Owned Since 1991, Used For Their Family. It Has Never Been Rented Out Since Then. Ground Floor, Easy Beach Access. Stacked Washer And Dryer In The Unit. Bath Vanity Updated, Kitchen Cabinets And Applicances Up Dated. New Carpet Throughout...
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
