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 202, Napili/kahana/honokowai, HI
MLS® #406083
Listed By: Equity Hawaii Real Estate LLC
Direct Ocean Front. Your Front Row Seat To Whale Watching And Incredible Sunsets From Your Private Second Floor Lanai. Fully Furnished - All Bedroom, Living Room, Kitchen, Lanai Furnishings Including A Sleeper Sofa. Tastefully Renovated With A Fully Equipp...
4365 Lower Honoapiilani Rd 518, Napili/kahana/honokowai, HI
MLS® #405222
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-463-2445
Experience Beachfront Living With This Beautifully Renovated 5th-floor Studio At The Royal Kahana. The Unit Was Fully Updated In December 2022, Featuring Brand-new Floors, A Sleek New Kitchen, A Modern Bathroom With A Walk In Shower, And Updated Appliances ...
3975 Lower Honoapiilani Rd 114, Napili/kahana/honokowai, HI
MLS® #407879
Listed By: Living Maui Real Estate LLC Office Contact: Cell: 808-359-1161
Polynesian Shores Is A Well-situated, Low-density Oceanfront Community In West Maui, Offering The Perfect Blend Of Relaxed Residential Living And Desirable Rental Potential. Unit #114 Is A Thoughtfully Renovated Ground-level One-bedroom Residence With Conve...
3823 Lower Honoapiilani Rd 105, Napili/kahana/honokowai, HI
MLS® #407965
Listed By: Island Sotheby's Int'l Rlty(W) Office Contact: Cell: 808-269-8033
Welcome To Hale Ono Loa 105, A Beautifully Remodeled, Ground-floor Oceanfront Condominium Located In The Highly Desired Honokowai Area Of West Maui. This Single-level Residence Offers Seamless Indoor/outdoor Living With Direct Access To The Lawn And Oceanfr...
3959 Lower Honoapiilani Rd 310, Napili/kahana/honokowai, HI
MLS® #407216
Listed By: Hawaii Life (L) Office Contact: Cell: 808-280-4881
Oceanview Island Retreat At Kuleana - Modern 1bd/1ba 2nd-floor Condo With 493 Sq Ft, Thoughtfully Remodeled In Island-inspired Style. Enjoy Ocean And Moloka‘i Views Overlooking The Pool, With A Private Lanai Perfect For Sunsets. Turnkey Furnished, With Cura...
5315 Lower Honoapiilani Rd C122, Napili/kahana/honokowai, HI
MLS® #408573
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-269-7999
Located On World-renowned Napili Bay, Napili Shores Remains One Of West Maui's Most Desirable And Enduring Oceanfront Destinations For Both Owners And Guests. The Resort's Mature Landscaping, Classic Lava-rock Design, And Direct Beach Access Continue To Att...
Westside Story Is Unit 114 At Mahinahina Beach With 1 Bedroom, One And Half Baths, And 859 Square Feet Interior Offering An Oceanfront Location With A Residential Resort Lifestyle. This Is Easy To Show And A Rare Offering At This Boutique Community With Onl...
Waiohuli Beach Hale Is A Small Oceanfront Complex Located In Kihei. This Property Has A Great Aloha Feeling With A Relaxed And Quiet Atmosphere. Each Unit Is Steps From The Ocean And Is Centrally Located To Great Shopping, Restaurants, And Beaches. Addition...
Discover Your Slice Of Paradise At Napili Shores, One Of West Maui’s Most Beloved Oceanfront Resorts. This Charming, Hotel Zoned Studio Offers The Perfect Blend Of Island Comfort, Resort Amenities, And An Unbeatable Location. Napili Shores Is Prized For Its...
3823 Lower Honoapiilani Rd 401, Napili/kahana/honokowai, HI
MLS® #408068
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-205-5201
Discover The Magic Of Island Living In This Rarely Available Top Floor, One-bedroom, One-bath Condo Nestled In The Heart Of West Maui. Located In Honokowai And Offered Fully Furnished And Turnkey, Hale Ono Loa 401 Offers A Perfect Balance Of Comfort And Con...
4327 Lower Honoapiilani Rd 801, Napili/kahana/honokowai, HI
MLS® #406294
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-870-0674
Experience The Best Of Maui From This Rare Oceanfront Corner Unit At Valley Isle Resort In Kahana. This Spacious 1-bed, 1-bath Condo Offers Panoramic Ocean Views From Both The Living Room And Bedroom — Plus Additional Sightlines Of The West Maui Mountains F...
3445 Lower Honoapiilani Rd 644, Napili/kahana/honokowai, HI
MLS® #407304
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-280-5676
Experience The Best Of This Hotel Zoned Resort In West Maui In This Beautiful 1 Bed / 1 Bath Ocean View Unit, Ideally Located Just Minutes From The Kaanapali Beach And Whalers Village. Enjoy Easy Access To Pristine Beaches, Upscale Shopping, Award-winning D...
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
