Maui Oceanfront Market Update: January 2020

Posted by Courtney M. Brown on Monday, January 27th, 2020 at 12:57pm.

MAUI OCEANFRONT HOMES
Market Update, January 2020

Maui Oceanfront home for sale

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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.

View Current Home Listings: Oceanfront, Beachfront and Across the Street from the Ocean

410 Properties Found. Page 11 of 35

Whaler 974-a Premier, Corner Unit On The 9th Fl...

Photo of Listing #406296

$1,775,000 Active Fee Simple

  • 1 Beds
  • 2 Baths
  • 6.67 Acres
  • 905 ft²

Residential

2481 Kaanapali Pkwy, Unit 974, Kaanapali, HI

MLS® #406296

Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-757-5113

Whaler 974-a Premier, Corner Unit On The 9th Floor Of Tower 2. This Beautiful 1 Bed-2 Bath Unit Features A Spacious Wrap-around Lanai With Stunning Views Of The West Maui Mountains As Well As A Serene Ocean View Across The Whaler Courtyard To The Maui Chann...

Tropical Modern Oceanfront Villa With One Of Th...

Photo of Listing #404488

$1,750,000 Pending Fee Simple

  • 2 Beds
  • 2 Baths
  • 1.92 Acres
  • 955 ft²

Residential

5295 Lower Honoapiilani Rd, Unit C-32, Napili/kahana/honokowai, HI

MLS® #404488

Listed By: eXp Realty
Office Contact: Cell: 808-497-2083

Tropical Modern Oceanfront Villa With One Of The Greatest Sunset Views On All Of Maui. Enjoy The Ever Changing Play Of Nature Unfolding From Dawn Till Dusk With The Islands Of Molokai And Lanai Piercing The Horizon. Sea Turtles, Dolphins, Whales And Rainbow...

Gorgeous Penthouse Condo At The Whaler On Kaana...

REDUCED 3% Photo of Listing #405264

$1,750,000 Active Fee Simple

  • 1 Beds
  • 2 Baths
  • 6.67 Acres
  • 905 ft²

Residential

2481 Kaanapali Pkwy, Unit 1269, Kaanapali, HI

MLS® #405264

Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-446-5841

Gorgeous Penthouse Condo At The Whaler On Kaanapali Beach. This One Bedroom, Two Bath Condominium On The Top Floor Of Tower Ii Provides Stunning Views Of The Ocean, Kaanapali Beach, Golf Course And The Majestic West Maui Mountains. The Whaler On Kaanapali B...

Discover The Serene Beauty And Old Hawaiian Cha...

Photo of Listing #405601

$1,750,000 Active Leasehold

  • 2 Beds
  • 2 Baths
  • 13.36 Acres
  • 1,128 ft²

Residential

20 Hui Rd I, Unit 42, Napili/kahana/honokowai, HI

MLS® #405601

Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-250-1583

Discover The Serene Beauty And Old Hawaiian Charm Of Alaeloa In This Gorgeous Two Bedroom, Two Bath Duplex. Alaeloa 42 Is Situated On The Uppermost Row, Offering Exceptional Views Of The Ocean And Molokai. The Property Features A Well-designed Kitchen And A...

Hokulani 734 - Experience Breathtaking Mountain...

REDUCED 3% Photo of Listing #405359

$1,749,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 39.84 Acres
  • 1,080 ft²

Residential

130 Kai Malina Pkwy, Unit Sr 734, Kaanapali, HI

MLS® #405359

Listed By: Keller Williams Realty Maui-L
Office Contact: Cell: 808-870-2525

Hokulani 734 - Experience Breathtaking Mountain Views From The Seventh-floor Corner Unit Of The Luxurious Honua Kai Resort. This Two-bedroom, Two-bathroom Residence Boasts Floor-to-ceiling Windows That Showcase The Magnificent West Maui Mountains From Both ...

Discover A Rare Opportunity To Own A 2-bedroom,...

Photo of Listing #406377

$1,700,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 5.17 Acres
  • 1,101 ft²

Residential

12 S Kihei Rd, Unit C9, Kihei, HI

MLS® #406377

Listed By: Coldwell Banker Island Prop-Ku
Office Contact: Cell: 808-268-0691

Discover A Rare Opportunity To Own A 2-bedroom, 2-bath Condo Steps From The Beach In A Warm Welcoming Oceanfront Community Where Guests Return Year After Year-some For Over 40 Years! This Well Loved Property Offers Breathtaking Ocean Views, Easy Access To M...

Beautifully Renovated 915 Square Foot Unit With...

REDUCED 3% Photo of Listing #404231

$1,699,000 Active Fee Simple

  • 2 Beds
  • 1 Baths
  • 34.82 Acres
  • 915 ft²

Residential

130 Kai Malina Pkwy, Unit Nr312, Kaanapali, HI

MLS® #404231

Listed By: Maui Westside Properties

Beautifully Renovated 915 Square Foot Unit With Upgraded Designer Furnishings, Porcelain Tile Flooring And A Queen Bed In The Private Den With West Maui Mountain And Waterfall Views! Great Location Only Steps To The Elevator For Easy Access To The 3 Pool...

Hokulani 422 Welcome To Your Dream Oasis! This ...

REDUCED 6% Photo of Listing #405124

$1,698,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 39.84 Acres
  • 1,080 ft²

Residential

130 Kai Malina Pkwy, Unit Sr 422, Kaanapali, HI

MLS® #405124

Listed By: Keller Williams Realty Maui-L
Office Contact: Cell: 808-870-2525

Hokulani 422 Welcome To Your Dream Oasis! This Exquisite Two-bedroom, Two-bathroom Condominium Unit Boasts Breathtaking Mountain Views And An Expansive Lanai That Fills The Space With Natural Light Through Extra Side Windows. The Open-concept Living Area Fe...

Welcome To Unit 209 At Mana Kai Maui, A Beautif...

REDUCED 16% Photo of Listing #406372

$1,695,000 Active Fee Simple

  • 2 Beds
  • 2 Baths
  • 2 Acres
  • 767 ft²

Residential

2960 S Kihei Rd, Unit 209, Kihei, HI

MLS® #406372

Listed By: Compass-W

Welcome To Unit 209 At Mana Kai Maui, A Beautifully Upgraded And Fully Furnished 2-bedroom, 2-bath Beachfront Condo With Stunning Panoramic Views Of The Pacific Ocean, Molokini, And The West Maui Mountains. Perfectly Positioned On World-renowned Keawakapu B...

Enjoy Stunning Panoramic Ocean, Outer Island, A...

REDUCED 1% Photo of Listing #405316

$1,675,000 Active Fee Simple

  • 1 Beds
  • 2 Baths
  • 13.2 Acres
  • 960 ft²

Residential

3300 Wailea Alanui Dr, Unit 17d, Wailea/makena, HI

MLS® #405316

Listed By: Coldwell Banker Island Prop(S)
Office Contact: Cell: 808-463-8485

Enjoy Stunning Panoramic Ocean, Outer Island, And Haleakala Views From This Incredibly Private, Top Floor, Corner Unit In Highly Sought After 17 Building At Wailea Ekahi! Villa Is Offered Furnished And Is Also Recently Remodeled With All New Plush Carpets, ...

Unit 35 In Alaeloa, Napili, Embodies The Essenc...

REDUCED 6% Photo of Listing #401691

$1,650,000 Active Leasehold

  • 3 Beds
  • 2 Baths
  • 13.36 Acres
  • 1,276 ft²

Residential

20 Hui I Rd, Unit 35, Napili/kahana/honokowai, HI

MLS® #401691

Listed By: Real Broker LLC
Office Contact: hawaiisbest1@gmail.com

Unit 35 In Alaeloa, Napili, Embodies The Essence Of Vintage Hawaiiana With Its Charming Three-bed, Two-bath Cottage Nestled In This Iconic Community. Surrounded By The Breathtaking Scenery Of The Ocean And Molokai, This Freestanding Home Offers A Tranquil R...

Public Remarks: Nestled On Five Flat Acres Of S...

Photo of Listing #406300

$1,625,000 Active Fee Simple

  • 1 Beds
  • 1 Baths
  • 5.17 Acres
  • 759 ft²

Residential

12 S Kihei Rd, Unit E2, Kihei, HI

MLS® #406300

Listed By: Coldwell Banker Island Prop-Ku
Office Contact: 808-281-8083

Public Remarks: Nestled On Five Flat Acres Of Spectacular Oceanfront, This Stunning One-bedroom, One-bath Condo Offers Breathtaking Ocean Views And Resort Style Amenities, All Just Steps From The Beach. High End Finishes Throughout Combined With Unobstructe...

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

 

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