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: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-276-8776
This Beautifully Remodeled Studio At The Whaler Offers An Exceptional Living Experience, Seamlessly Blending Modern Sophistication With The Tranquility Of Nature. Unit 316’s Design Is An Artful Fusion Of Contemporary Elements, Featuring Vibrant Monstera Lea...
3445 Lower Honoapiilani Rd, Unit 529, Kaanapali, HI
MLS® #405416
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 529 - Discover The Perfect Blend Of Comfort And Luxury In This 2-bedroom, 2-bath Unit Located At The Beachfront Resort Of Kaanapali Shores. With Breathtaking Views Of The Pacific Ocean And Molokai And Lanai In The Background, This Mid-level...
3543 Lower Honoapiilani Rd, Unit G407, Napili/kahana/honokowai, HI
MLS® #405304
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-281-7313
Papakea G407 Is The Perfect Place For A Family Vacation Or A Romantic Escape. From Your Fourth-floor Lanai, You Have 180-degree, Beautiful Views Of The Ocean, Shuffleboard Court, Pool/jacuzzi/barbecue Area, Putting Green, Tropical Gardens, Koi Ponds, And Th...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-276-7766
Enjoy The Ocean View And Adjacent Pickle Ball Courts! Beautifully Upgraded 2 Bedroom 2 Bath End Unit With Double Size Lanai. This Condo Has Been Tastefully Updated With Granite Slab Counters, Stone Flooring, Custom Cabinetry, Upgraded Appliances, Air-condit...
Welcome To Lauloa 209, Where The Sound Of The Waves And Endless Ocean Views Greet You The Moment You Walk Through The Door. Fully Renovated, The Space Feels Fresh And Thoughtfully Designed, With Wide-plank Floors, Solid Wood Cabinetry, New Countertops, And ...
3543 Lower Honoapiilani Rd, Unit G103, Napili/kahana/honokowai, HI
MLS® #402352
Listed By: Hawaii Life (W) Office Contact: Cell: 808-269-7841
If You’re Looking For Beachfront Living At It’s Finest, Then Look No Further Than Unit G103 At Papakea Resort. This Exceptional 2 Bedroom, 2 Bath, Ground Floor Unit Will Have You Enjoying Paradise Living As Soon As You Enter. Remodeled In 2018, Unit G103 Wa...
3543 Lower Honoapiilani Rd, Unit A307, Napili/kahana/honokowai, HI
MLS® #404333
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-281-7313
Experience The Beauty Of Maui From This Private 3rd-floor One Bedroom Condo, Papakea A307, Offering Breathtaking Oceanfront Views. Facing West, It Boasts Stunning Sunsets, Whales Breaching Seasonally, And Picturesque Views Of Lanai And The Majestic Island O...
4327 Lower Honoapiilani Rd, Unit 208, Napili/kahana/honokowai, HI
MLS® #403387
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-344-2677
Meticulously Maintained And Renovated, This Single-level Unit Is Spaciously Laid Across 1,040 Sq. Ft. Of Living Area. In Addition To 2-bedroom, 2-bathroom, This Property Also Includes A Murphy Bed, Perfect For More Friends And Family To Join You In Paradise...
4299 Lower Honoapiilani Rd, Unit 231, Napili/kahana/honokowai, HI
MLS® #404057
Listed By: Sullivan Properties Inc
Awesome Oceanfront Living: This Expansive One-bedroom, Two-bathroom Gem Is A Rare Find In The Kahana Area. Nestled By The Beachfront, This Corner Unit Has Approximately 835 Square Feet Of Indoor Space, Accompanied By Not One, But Two Lanais, Offering An Add...
Welcome To Your Maui Getaway! This Spacious One-bedroom Pet Friendly Condo, Located On The Third Floor Of The Aloha Tower At Maui Kaanapali Villas, Offers A Quintessential Hawaiian Experience. Just Steps From The Pristine White Sands Of Kaanapali Beach And ...
4909 Lower Honoapiilani Rd, Unit D6, Napili/kahana/honokowai, HI
MLS® #405754
Listed By: ZT Hawaii LLC
Centrally Located In The Desirable D-building, This Beautifully Remodeled Unit At Kahana Sunset Offers One Of The Most Breathtaking Ocean Views In The Complex, Overlooking Lush, Meticulously Maintained Grounds. A Full Tear-out And Custom Renovation In 2015 ...
Spectacular Year-round Sunsets And Ocean Views Greet You At This Unique, Oceanfront Concrete Condominium. With Easy Elevator Access, Off-street Parking, And A Beautiful, Sheltered Pool And Hot Tub Area, This Popular Destination Resort Offers A Truly Luxurio...
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
