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.
4327 Lower Honoapiilani Rd, Unit 403, Napili/kahana/honokowai, HI
MLS® #406906
Listed By: Real Broker LLC Office Contact: Cell: 808-298-2030
Hotel Zoned!! Valley Isle Resort B403 – Oceanfront Paradise In Kahana Welcome To Valley Isle B403, A Double Ocean View (both Living Room And Primary Bedroom) Sandy Beachfront Condo Perched Directly On Kahana Beach, Where Panoramic Views Of The Pacific Stre...
Perched On The Shores Of North Kaanapali Beach, Maui Kai 805 Offers Breathtaking Panoramic Views Of The Pacific With Molokai And Lanai On The Horizon. This Spacious 1-bedroom, 1-bath Condo Is Hotel-zoned, Meaning It Is Not Part Of The Proposed Short-term Re...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-463-2445
This Beautifully Upgraded One-bedroom Condo In The Heart Of Lahaina Offers Stunning West Maui Mountain And Ocean Views From Two Private Lanais. The Building Was Recently Refreshed With New Paint, Landscaping, And Hallway Carpet. The Fully Furnished Unit I...
3445 Lower Honoapiilani Rd, Unit 741, Kaanapali, HI
MLS® #401601
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 741- Hotel Zoned Property Per County Records. Nestled On The 7th Floor Of A Coveted West Maui Location, This 1b/1b Unit Offers Beautiful Oceanview's That Will Leave You In Awe. Step Inside To Discover A Spacious Floorplan Featuring Granite ...
Set Your Sights On Paradise At Polynesian Shores #213 — Your Perfect Maui Escape! Nestled In A Peaceful Oceanfront Community In West Maui, This Two-story Vacation Rental Townhome Offers The Ultimate Blend Of Tranquility, Natural Beauty, And Island Adventur...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-2420
The Mahana Resort Is Generally Considered As One Of The Premium Vacation Rental Complexes In Upper West Maui, And When You View The Complex And The Unit, Hopefully You Will Understand Why. The Mahana Consists Of Two 12 Floor Buildings With Slightly Over 200...
3823 Lower Honoapiilani Rd, Unit 205, Napili/kahana/honokowai, HI
MLS® #405215
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-345-7654
Welcome To Hale Ono Loa! A Captivating View Greets You The Moment You Walk In The Door Of Unit 205 Which Underwent A Complete Renovation In 2021. The Interior And Lanai Floors Were Upgraded With Ceramic Tile, And The Kitchen And Bathroom Countertops Were Re...
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-276-6473
Priced To Sell, Check ** Hotel Zoned, Check ** Beach Front Location, Check ** Ocean Views, Check ** 2bd/2ba, Check ** Airbnb Ready, Check ** And The List Goes On! Aloha And E Komo Mai (welcome) To Nani Kai Hale, Translated In English To Your "beautifu...
3445 Lower Honoapiilani Rd, Unit 428, Kaanapali, HI
MLS® #405509
Listed By: Hawaii Life (W) Office Contact: Cell: 808-283-2222
Kaanapali Shores Is A Hotel-zoned Beachfront Condominium. Sold Fully-furnished And Turn-key As A Short-term Rental Property, Second Home Or Primary Residence. This Popular Beachfront Condominium Complex Spans Over 10 Acres And Has Breathtaking Year-round Su...
3445 Lower Honoapiilani Rd, Unit 921, Kaanapali, HI
MLS® #405175
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 921 - Welcome To Your Stunning Ninth-floor Studio At Kaanapali Shores, Where Every Moment Feels Like A Vacation! This Beautifully Appointed Space Boasts Spectacular Views Of The Lush Courtyard And The Sparkling Ocean, Framed By The Enchanti...
4909 Lower Honoapiilani Rd, Unit D6, Napili/kahana/honokowai, HI
MLS® #405754
Listed By: ZT Hawaii LLC
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Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Mahana 1203 - Welcome To Your Penthouse Dream Beachfront Sanctuary, Perched On The Top Floor With Mesmerizing Direct Oceanfront Views Of Lanai And Molokai. Relax On Your Private Balcony As You Watch Majestic Whales And Turtles Swim By And Indulge In Spectac...
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
