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 43b, Wailea/makena, HI
MLS® #400900
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-450-4975
Stationed Between Heaven And Earth This Illustrious Beachfront Resort Is The Epitome Of Good Times. An Intriguing Blend Of Tranquil Escapism And Unbridled Joy, Wailea Ekahi Embodies Tropical Elegance At Every Turn. Experience Recent Enhancements From A Mult...
Listed By: Hawaii Life (L) Office Contact: Cell: 808-281-2178
Kapalua Bay Villas 12g4 Is A Recently Remodeled ('21) And Spacious 1bd./1ba. Ocean View Residence Set In A Tranquil And Quiet Setting. Walk Directly Out To The Grassy Lawn Fronting The Property Down To The White Sand Beaches Of The Oneloa Bay Which Fronts T...
This Beautifully Appointed Condo Boasts A Flexible Floor Plan With A Unique Lockout Feature. Live In The Spacious Ocean View Section With 1 Bedroom And 1 Bath Plus A Den While Renting Out The Adjoining Studio Unit With Its Own Private Entrance, Washer/dryer...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Whaler 814 Nestled On The Shores Of Kaanapali Beach, This Exquisite Studio Unit Offers A Luxurious And Convenient Living Experience. Hotel Zoned Property Per County Records. With Stunning Ocean Views Towards Molokai And Black Rock, Residents Can Indulge In ...
4365 Lower Honoapiilani Rd, Unit 520, Napili/kahana/honokowai, HI
MLS® #401359
Listed By: Keller Williams Realty Maui-Ki Office Contact: Cell: 808-281-1320
Do You Find Maui Zoning Regulations Confusing? Invest In A Maui Property That Is Hotel Zoned And Elevate Your Real Estate Portfolio. Royal Kahana Resort Is One Of The Few Properties That Is Hotel Zoned With A Front Desk And Maui County Recognizes And Al...
4531 Lower Honoapiilani Rd, Unit 3b3 (16), Napili/kahana/honokowai, HI
MLS® #401779
Listed By: Platinum Properties Hawaii,LLC
Location! Kahana Village Is A Low Rise, Low Density Ocean Front Resort That Is Quiet And Peaceful. Located Centrally To West Maui. Golf, Dining And Shopping Are Just Minutes Away. This Property Was Fully Remodeled In 2020. No Expense Was Spared To Make This...
Whaler 1061, A Studio Residence Exquisitely Positioned In The Heart Of Kaanapali Beach, Offers A Prime Location Between The Iconic Black Rock And The World-renowned Whaler’s Village. This Residence Features Central Air Conditioning And Has Been Elegantly Up...
Indulge In Beachfront Living And Captivating Ocean Views At This Spacious 2 Bedroom, 2 Bathroom Condo In South Maui. The Property Is Located Within The Desirable Hotel Zone And Offers Convenient Access To World-class Beaches, A Variety Of Dining Options, An...
3601 Lower Honoapiilani Rd, Unit 122, Napili/kahana/honokowai, HI
MLS® #399344
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-264-4617
Own A Desired West Maui Oceanfront Property That Is Within Minutes Of The World Famous Kaanapali Resort. This 2 Bed 2 Bath Floorplan Focus Is The Up-front Master Bedroom, 2 Private Lanais With Ocean And Molokai Views. Upgraded Kitchen In 2017 With New Wirin...
3445 Lower Honoapiilani Rd, Unit 513, Kaanapali, HI
MLS® #402096
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 513 Is Zoned Hotel Per The County Records. Spectacular Location. 5th Floor 2 Bedroom 2 Bathroom. Excellent Ocean Views From The Remodeled Suite. Granite Counter Tops, Tiled Flooring Throughout, Custom Plantation Style Interior Doors. If Yo...
3543 Lower Honoapiilani Rd, Unit L401, Napili/kahana/honokowai, HI
MLS® #400895
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-280-8986
Spectacular Location And Stunning View! Papakea Unit L401 Is Direct Ocean Front And Features A 1 Bedroom Plus Loft, Including A Sleeping Area, And 2 Bathrooms. This Corner Location In The L Building Boasts Added Windows And Extra Light Making The Living Spa...
3543 W Lower Honoapiilani Rd, Unit K204, Napili/kahana/honokowai, HI
MLS® #402149
Listed By: Maui Beach Properties LLC
One Of A Kind Ocean View Two Bedroom Unit At Papakea. High End Renovations Have Been Done To This Unit That Has Beautiful Ocean Views From Both The Living Room And Master Bedroom. A Split System Central Ac System Has Been Added To The Unit. One Of The B...
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
