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.
3300 Wailea Alanui Dr, Unit 13f, Wailea/makena, HI
MLS® #405218
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-385-3992
Wailea Ekahi 13f – A Premier 1 Bed, 2 Bath Corner Unit Condo In A Prime Lower Village Location With Breathtaking Ocean Views And A Serene, Private Setting. This Large And Spacious 966 Sq. Ft. Residence Features An Enclosed Extension In The Bedroom, Where On...
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...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-7736
Discover Unparalleled Elegance In This Exquisite 1-bedroom Condominium At The Ritz Carlton Kapalua Residences. Designed For Those Who Seek The Ultimate In Luxury And Convenience, This Property Offers A Island Lifestyle With World-class Amenities At Your Fin...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Whaler 1119- Available To See On 4/30. Welcome To Your Dream Getaway At The Prestigious Whaler On Kaanapali Beach! This Exquisite 11th-floor, 1b/1b Unit Boasts A Prime Ocean View Location Overlooking The Serene Center Courtyard, Complete With Breathtaking O...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-7736
Experience The Ultimate Luxury And Privacy In A Newly Reimagined Ritz Carlton Kaplaua Residences After A Perfect Maui Day. This Ground-floor Unit Opens Up Onto A Large Lawn And Is One Of The Most Private Settings In The Complex. This Popular Vacation Rental...
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-345-7654
Discover Kapalua Bay Villas On Maui, Where It Is All About The View. This Beautifully Renovated One Bedroom Condo Offers A Captivating View Of The Pacific Ocean And Molokai. Perched Perfectly To Capture Stunning Sunsets And The Serene Sounds Of The Waves, T...
Oceanfront Opportunity With Expansive Views Toward Molokai, Plantation And Hawea Point. This One Bedroom, One Bath Unit Comes With A Bonus Den For Additional Living Space. Walk Out Onto Your Lawn With Beach Chairs And Watch The Sunset Year-round From Lanai ...
3300 Wailea Alanui Dr, Unit 13d, Wailea/makena, HI
MLS® #404511
Listed By: Island Sotheby's Int'l Rlty(W) Office Contact: Cell: 808-264-1695
Ocean Views! Experience Paradise In Wailea Ekahi Unit 13d, A Stunning One Bedroom Condo With Vaulted Ceilings And Breathtaking Panoramic Ocean Views. Located In A Luxurious Beachfront Complex, This Immaculate Unit Has Been Lovingly Maintained And Thoughtful...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-357-6980
Welcome To Unit 423, A Seamless Blend Of Contemporary Elegance And Island Serenity. Situated In The Sought-after Hokulani Tower, This Fully Furnished Unit Is Designed For Effortless Living. Thoughtfully Upgraded With Premium Bosch Appliances, A Brand-new Ge...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-757-5113
Amazing Opportunity To Own An Ocean-view 1 Bedroom At The Whaler On Kaanapali Beach! Beachfront Living At Its Finest On One Of The Best Beaches In The World. Spend Your Winters Looking At Maui's Beautiful Humpback Whales Breaching In The Distance. The Whale...
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-276-7878
This Is It! New Price Reduction, Good Until May 31, 2025! Prestigious Beachfront, Ocean View, Tastefully Remodeled In 2024, Highly Sought After Bridge Level Entry With "no Stairs", One Level Kapalua Bay Villa 1 Bed 1 Bath, Is The Epitome Of Luxurious Bliss....
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Welcome To Unit 333 At The Exquisite Honua Kai Resort. This Luxurious Condominium Boasts Premium Bosch Appliances, A Brand-new Luxury Bed, Granite Countertops, An In Unit Washer And Dryer, Expansive Bifold Doors, And Brand New Lanai Furnishings That Seaml...
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
