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.
4000 Wailea Alanui Dr, Unit 3003, Wailea/makena, HI
MLS® #406458
Listed By: Wailea Point Realty, Inc. Office Contact: realty@waileapoint.com
Breathtaking Ocean Views From 103 Feet Above The Sea. Facing Sw To Molokini Island, With Polo Beach, The Makena Coastline And Even A Bit Of Haleakala. This Is The Gold Coast Of Wailea Point View Units. The New, Mitered Glass Bay Windows Majestically Frame T...
4000 Wailea Alanui Dr, Unit 801, Wailea/makena, HI
MLS® #400755
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-870-4073
Revel In Luxury From An Expansive And Private Oceanfront Condo With The Best Amenities In Its Class. The Spacious, Elegant, And Bright Two-story Residence Offers A Large Floor Plan Available To The Low Density, Gated Community Of Wailea Point Village. With ...
4000 Wailea Alanui Dr, Unit 2502, Wailea/makena, HI
MLS® #401515
Listed By: Wailea Point Realty, Inc. Office Contact: realty@waileapoint.com
Outstanding Value For One Of Wailea Point's Most Fabulous View Units. This Is The Highly Sought After Upper Level D Plan, Wailea Point’s Second Largest Standard Floor Plan Located On The Top 2 Floors Of A 4-story Building; 2 Levels, 3 Bedrooms, 4 Bathrooms....
Escape To Your Own Private Paradise In The Serene Coastal Town Of Hana, Maui. This Custom-built 3-bedroom, 3.5 Bathroom Home Is A Testament To Luxury And Tranquility, Offering An Expansive 3295 Square Feet Of Carefully Crafted Living Space. Upon Entering, Y...
4850 Makena Alanui Rd, Unit E-205, Wailea/makena, HI
MLS® #404657
Listed By: Hawaii Life (W) Office Contact: Cell: 808-870-8668
Welcome To Makena Surf E-205! This Rare Beachfront Condominium Is Perfectly Positioned In The Complex And Is Perched Above One Of Makena's Finest Beaches. Enjoy Panoramic Ocean And Outer Island Views Form This Beautifully Furnished & Decorated 2 Bedroom, 2...
Listed By: Island Sotheby's Int'l Rlty(M) Office Contact: Cell: 808-283-9613
Situated On The Ocean In Kuau, These Two Homes (each With Its Own Water Meter!) Offer A Peaceful Escape Just Minutes From Paia Town. The Beachfront House Boasts Sweeping Ocean Views And A Front-row Seat To The Tavares Bay Surf Break, While The Primary Suite...
Listed By: Island Sotheby's Int'l Rlty(W) Office Contact: Cell: 808-385-8880
Serenity Found!! This Extraordinary Oceanfront Estate Offers Privacy, Self-sustainability And Creative Inspiration In Equal Measures. Overlooking Breathtaking Waipio Bay In Magical Huelo, These 2 Acres, Fully Permitted, 5 Structure Tropical Retreat Has It A...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-870-4899
Epic Properties Like This Seldom Become Available. Hotel Zoned In One Of The Only 5-star Resorts In The State Of Hawaii. Enjoy The Pinnacle Of Penthouse Living At Montage Kapalua Villa 6401. This Rare Offering Is The Largest And Most Coveted 3 Bedroom, 3.5 ...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-283-2222
Experience The Ultimate Beachfront Lifestyle On Maui's North Shore With This Meticulously Maintained Landmark Property. Located In Vibrant Paia At Paia Bay, This Fully Gated Four-building Oceanfront Compound Features Two Complete Houses Totaling 3 Bedrooms ...
4850 Makena Alanui Rd, Unit F-108, Wailea/makena, HI
MLS® #405073
Listed By: Hawaii Life (W) Office Contact: Cell: 808-870-8668
Welcome To Makena Surf F-108. This Ground Floor 2-bedroom, 2-bathroom Luxury Condominium Is Just Steps To The Beach With Unobstructed Ocean Views. Features Include A Spacious Open Floor Plan With The Living, Dining And Kitchen Areas Opening To An Expansive ...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-283-3436
Rare, Turnkey 5th Floor Elevation Hotel Residence At Montage Kapalua Bay- One Of The Highest Locations On The Property, Offering A "premier Oceanview Residence" Category. This Home Is Hotel-zoned For Nightly Rentals In A 5-star Resort Allowing Access To Mon...
Listed By: Keller Williams Realty Maui-Ki Office Contact: Cell: 808-859-2086
Perched Above The Pristine Waters Of Honokeana Cove, 34 Papaua Place Offers A Front-row Seat To Maui’s Breathtaking Coastline And An Extraordinary Opportunity To Create Your Dream Home. This Ocean Front Architect Designed Masterpiece Is The Perfect Canvas F...
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
