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-KP Office Contact: Cell: 808-397-7234
Whale Watchers Delight!!! This Kapalua Bay Villa 2 Bedroom 3 Bath Bridge Level Unit Boasts Incredible Ocean Views. Short Walk To World Class Beaches, Fine Dining, And All The Amenities Of The Kapalua Resort, Newly Remodeled In 2022, This Is A Must See.
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-250-1583
Alaeloa 26 Is A Rare, Highly Sought After, Stand-alone Oceanfront Residence With Breathtaking Ocean Views And Views Of The Neighbor Island Of Molokai. It Is A Two Bedroom, Two And One-half Bath Residence With A Large Green Grass Yard. It Features A Light ...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-3067
This One Bedroom, Two Bath Unit At Kaanapali Alii Includes A Den Currently Being Utilized As A Second Bedroom. This Unit Has A Prime Location With Spectacular Ocean Views Overlooking The World Famous Kaanapali Beach, Black Rock, And The Majestic West Maui M...
Listed By: Susan Jackson Real Estate Office Contact: Cell: 865-206-1234
Three Words Best Describe Hokulani 749. View, View, View! The Unobstructed Ocean Views Of Are Unparalleled. Top Floor With The Pacific Ocean As Your Nextdoor Neighbor! If You’re Looking For The Best, Look No Further. It’s Hokulani 749. Enjoy Watching Th...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-385-1528
Undoubtedly One Of The Best Locations In All Of West Maui! Mahana 719 Is A Very Rare Location On The Southern Oceanfront Corner Of The Lana'i Tower Offering Amazing Ocean Views Of North Kaanapali Beach, Black Rock, And The Neighbor Islands Of Lana'i And Mol...
Welcome To Hokulani 836, A Prized Gem In The Renowned Honua Kai Resort In Kaanapali. Located On The 8th Floor Of The Hokulani Tower, This 2 Bedroom, 2 Bath, 1240 Sq Ft Corner Unit Offers A Unique Vantage Point With Panoramic Ocean Views Stretching From The ...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-276-6061
This Stunning Corner Unit With Phenomenal Views Of The Crystal Clear Kaanapali Waters Lapping Up On The Beach Below, Also Features The Bi-island Views Of The Molokai And Lanai As A Backdrop. The Orientation Of This Luxury Apartment Allows For Delicious Trad...
Listed By: Hawaii Life (L) Office Contact: Cell: 808-281-2178
Mahana #811 Is Today's Best Opportunity To Own A 2bd/2ba Direct Beachfront, Corner Residence Hotel Zoned Maui Vacation Rental. Jaw Dropping Unobstructed Views And Stellar Historical Income Production Gets You Off The Fence To Invest Today. She's Stunning Wi...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-276-6443
Enjoy The Ka'anapali Beach Lifestyle In This Immaculate 2-bedroom/2-bath Unit At The Highly Desired Ka'anapali Alii Luxury Condominium Resort. This Turn-key, Fully Furnished Condo Has Recently Been Enhanced With Beautiful New Artwork In Every Room And The ...
Modern Sophistication Meets The Ka’anapali Luxury Lifestyle In This Stunning Residence. Combined With Exquisite Finishes, Modern Furnishings And Panoramic Views Of The West Maui Mountains, Unit 2-806 Is The Perfect Combination Of Contemporary Elegance And C...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Alii 4-501 "welcome To Your Oceanfront Paradise! This Unit Has Been Uniquely Remodeled To Feature 3 Separate Sleeping Spaces. Originally Designed As A One Bedroom + Spacious Den, The Owner Has Extensively Reconfigured The Space. This Stunning Cond...
Discover Your Dream Escape In Konea 1026, A Top-floor Haven Nestled In The Honua Kai Resort In Kaanapali Maui. This Exquisite 1285 Sq Ft Condo Offers Two Bedrooms And Two Baths, With Stunning Ocean And Mountain Views From Its 10th-floor Vantage Point. Step...
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
