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.
3445 Lower Honoapiilani Rd, Unit 612, Kaanapali, HI
MLS® #403879
Listed By: Real Broker LLC Office Contact: ReneSellsMaui@gmail.com
Hotel Zoned. This One-bedroom, One-bath Ocean & Mountain View Unit Is Located On The North-facing Quiet Side Of Kaanapali Shores. The Owner Has Upgraded The Entire Lanai Sliding Door And Side Windows And Updated The Bathroom Ceiling With Led Lighting. Oc...
4401 Lower Honoapiilani Rd, Unit A-103, Napili/kahana/honokowai, HI
MLS® #403984
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-357-4000
Wonderfully Remodeled Ground Floor 2bd Unit At Hololani, With An Expanded Kitchen To Allow More Counter Space And More Storage. The Floorplan Was Reconfigured To Allow Larger Bedrooms And More Functional Bathrooms. There Really Isn't Another Unit Like A103...
4401 Lower Honoapiilani Rd, Unit A502, Napili/kahana/honokowai, HI
MLS® #405153
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-276-6473
Hotel Zoned Airbnb!! Priced To Sell! Ocean Front 2-bedroom Unit Fee Simple Fully Turnkey. Step Into Your Island Paradise With This Stunning 5th-floor Unit At Hololani, A Popular Boutique High-rise Condo Complex Along Kahana Bay. Imagine Waking Up To Bre...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-987-2490
Location, Location, Location! This Direct Oceanfront Small Condominium Development Sets Between Charley Young Beach And The Cove Surf Beach And Offers Mesmerizing Views Of Outer Islands And Gorgeous Maui Sunsets You Will Never Tire Of. Step Inside The Recen...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-357-5000
Welcome To Wailea Ekahi #3d, A Rare Studio Offering Known As The “treehouse Retreat”. Nestled On The Second Level, This Charming Unit Boasts High Vaulted Ceilings And A Lanai Surrounded By Lush Greenery, Including Plumeria Flowers, Hibiscus, And Palm Trees ...
3543 Lower Honoapiilani Rd, Unit L304, Napili/kahana/honokowai, HI
MLS® #406328
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-281-7313
Watch The Whales Breach, From This Very Private, Third Floor One Bedroom Condo. Papakea L304 Has A Direct Oceanfront Location And Faces West With Fabulous Sunsets, Whales Breaching And Views Of The Islands Of Molokai And Lanai. Twenty-four Hours Of Waves To...
3543 Lower Honoapiilani Rd, Unit J105, Napili/kahana/honokowai, HI
MLS® #406668
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-3067
Welcome To Papakea J105, A Beautifully Remodeled Ground-floor 2-bedroom, 2-bathroom Condo Offering Comfort, Privacy, And Convenience In One Of West Maui’s Most Desirable Oceanfront Resorts. This Fully Furnished Unit Boasts Tranquil Garden Views, High-speed ...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-866-2334
Welcome To Luana Kai A-101, The Pinnacle Of North Kihei Beachfront Resort Living. This Highly Sought After And Rarely Offered Front Row, Ground Level Corner Unit Offers Only The Best Of Views And Location Available Within The Resort Without Sacrificing Easy...
3615 Lower Honoapiilani Rd, Unit 123, Napili/kahana/honokowai, HI
MLS® #404211
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-359-4245
Listen To The Soothing Sounds Of The Ocean And Breathe The Fresh Salt Air. This Larger Two-bedroom Two-bath Floor Plan Features Two Ocean View Lanais. There Is Plenty Of Room To Spread Out Whether You Are Working From Home Or Gathering Around The Large Dini...
Available To View By Appointment. Direct Beachfront Condo! Dynamic Ocean Views From This Cute One Bedroom One Bath Condo W/jacuzzi Tub In The Heart Of Kihei. It’s Single Level And Has Its Own Washer/dryer. Enjoy A Sandy Beach At Your Footsteps, Swim In Th...
3445 Lower Honoapiilani Rd, Unit 311, Kaanapali, HI
MLS® #405991
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-276-8776
Welcome To Unit 311 At Kaanapali Shores, A Beautifully Upgraded Ocean-view Condo Offering The Perfect Blend Of Comfort, Functionality, And Tropical Elegance. Located In One Of West Maui’s Most Sought-after Oceanfront Resorts, This Spacious Unit Is Ideal As ...
3975 Lower Honoapiilani Rd, Unit 221, Napili/kahana/honokowai, HI
MLS® #402225
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-250-3834
You've Got To Come And See Your New Home, Or Your Home Away From Home! There Is No Escaping The Incredible Ocean Views This Condo Has Waiting For You. The View From This Condo Makes The Ocean Look Like It's Your Swimming Pool, Whether You're Sitting On The ...
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
