Posted
by Courtney M. Brown
on Monday, January 27th, 2020 at 12:57pm.
MAUI OCEANFRONT HOMES Market Update, January 2020
View Goals! 1437 Front Street is an oceanfront home for sale in the heart of Lahaina, on historic front street View More Information
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 and activity tend to be highest in the resort areas of West and South Maui, and along the North Shore.
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. Comparing 2019 with 2018, it's noteworthy that the number of sales is down 30% and the sales volume down 57%.
Please note the 2019 statistics no longer include 6 sales in the Makena Resort by Discovery Land Co. that were reclassified in our MLS from Beachfront to Across the Street from the Ocean on 12/13/2019. This removed $60,162,136 million from the oceanfront home sales statistics that were previously posted in the blog post on 11/30/2019. That inventory had increased the average Days on Markets stat as escrow could only close when construction was complete. In addition, the average Sales Price and SP/Sq. Ft. dropped.
It is also worth noting 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. This can mean great opportunities for buyers of oceanfront properties as the inventory has built considerably, with approximately 3 years worth of inventory.
We are already starting to see more pending escrows with 8 homes pending now vs. 4 in 11/2019. It is interesting to note that all but one of the pending sales is under $5,000,000, with a high sale pending at $10,880,000.
Maui Oceanfront Home Sales: Key Metrics 2014 to Present
Year
Sales
Volume
Avg SP
Avg SP$/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
16 | -30%
$64,454,049 | -57%
$4,028,378 | -37%
$1288 | -27%
285 | 28%
88%
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
48
15
14
12
6
1
Low List Price
$750,000
$2,200,000
$3,298,000
$999,000
$750,000
$1,900,000
Average List Price
$8,140,937
$10,882,000
$11,259,571
$4,390,833
$2,551,833
$1,900,000
High List Price
$37,500,000
$37,500,000
$27,498,000
$12,000,000
$6,500,000
$1,900,000
Average LP/Sq. Ft.
$2408
$2889
$3,469
$1178
NA
NA
Pending Sales
8
3
1
4
0
0
Average List Price
$3,671,237
$5,558,333
$3,350,000
$2,336,225
0
0
Supply of Inventory*
36 months
45 months
42 months
48 months
NA
NA
2020 YTD Sales
0
NA
NA
NA
NA
NA
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.
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. The highest asking price in South Maui is $27,498,000.
These compare 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: Island Sotheby's Int'l Rlty(W) Office Contact: Cell: 808-283-7965
An Exclusive Opportunity Awaits To Own A Legacy Property Nestled Upon The Pristine Sands Of Keawakapu Beach. Spread On Over 5,000 Square Feet Of Interior Living Space, This Trophy Estate Offers Unrivaled Panoramic Views Of Year-round Sunsets, Gentle Waves, ...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-870-2001
This Rare Opportunity To Acquire A First-time Listed Beachfront Trophy Estate On Makena Road Presents An Exclusive Chance To Own A Coveted Piece Of Maui's Coastline. Whether Seeking A Primary Residence Or An Idyllic Vacation Retreat, Immerse Yourself In The...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-250-1583
Boasting Nearly Ten Captivating Acres Of Oceanfront, 9 Bay Drive Is The Crown Jewel Of Conservation Land Known As Hawea Point In West Maui. Nestled Into The Prime Location Within Kapalua Resort, This Gated Legacy Property, Along With The Adjacent 12+ Acre O...
Originally Handpicked As The Best Location On The Island To Build A Home Due To Its Superior Setting, Panoramic Vistas, And Pristine Beauty, This Exclusive Property Stands As A Testament To The Island's Most Prestigious Offering. Lanai Is Renowned Worldwide...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-250-1583
Embrace The Essence Of Private Island Living In This Beachfront Beauty Located In Exclusive Kapalua Resort On Kapalua Place, West Maui’s Only Gated Beachfront Residential Community. 7 Kapalua Place Is One Of Only Five Oceanfront Estates Located In This Magn...
4000 Wailea Alanui Dr, Unit 1202/1204, Wailea/makena, HI
MLS® #400595
Listed By: Maui Real Estate Advisors LLC Office Contact: 808-875-4444
A 'work Of Art’. A 'legacy Property'. An ‘equity Location’. A Luxurious Marriage Of Two Wailea Point Oceanfront Units At Maui's Finest Condominium Project! When A Lifelong Collector With Her Heart In The Arts Collaborates With A World-class Interior Designe...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-283-2222
Hawaiiana Meets Contemporary Design With This Exceptional Estate On The Pristine Shores Of Keawakapu Beach In Maui. Beyond The Gated Entrance Lies A World Of Relaxation And Rejuvenation, Where Quality Adjoins An Unrivaled Location. Upon Entering The Propert...
4000 Wailea Alanui Dr, Unit 1602, Wailea/makena, HI
MLS® #400259
Listed By: Wailea Point Realty, Inc. Office Contact: realty@waileapoint.com
Totally Unique In Location, Quality And Floor Plan, There Has Never Been Another Property Like Wailea Point Residence 1602. perhaps The Finest Condominium Residence In Hawaii, No Expense Was Spared To Set This Exclusive Maui Home Apart. Unsurpassed World ...
3800 Wailea Alanui Blvd, Unit B102, Wailea/makena, HI
MLS® #400500
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-463-8485
Incredible Direct Beachfront Villa B102 At The Prestigious Wailea Beach Villas! Seize This Rare Opportunity To Own Arguably The Best Positioned, Privately Situated, Direct Beach Front, Remodeled, Corner Unit Villa In The Entire Complex. This Is A Legacy Pr...
4000 Wailea Alanui Dr, Unit 102, Wailea/makena, HI
MLS® #400005
Listed By: Wailea Point Realty, Inc. Office Contact: realty@waileapoint.com
For The Finest Condominium Residence In Hawaii, Look No Further. The Location Is 75 Feet From The Surveyed Shoreline And 56 Feet Above Sea Level. Views Expand More Than 180 Degrees And Exceed Any Superlatives. You Feel Like You “own” Magnificent Wailea Beac...
This Is Your Exclusive Chance To Own A Front Row Direct Beachfront Villa. The Beachfront Villa @ Wailea Beach Villas Is Where Unparalleled Contemporary Luxury Meets A Rare Investment Opportunity To Generate Significant Vacation Rental Income When Not Enjoy...
4851 Lower Honoapiilani Rd, Napili/kahana/honokowai, HI
MLS® #400048
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-250-1583
This Contemporary Polynesian-style Oceanfront Gated Estate Is Architecturally Designed To Maximize Ocean Views. 4851 Lower Honoapiilani Road Is Built With The Highest Quality, High-tech Materials, And Finishes. 10-foot Motorized Pocket Doors Create Seamless...
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.
Courtney M. Brown, R(S) & Team Vice President Island Sotheby's International Realty
