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.
3615 Lower Honoapiilani Rd 123, Napili/kahana/honokowai, HI
MLS® #408847
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...
4909 Lower Honoapiilani Rd D3, Napili/kahana/honokowai, HI
MLS® #399736
Listed By: Hawaiian Islands Mgmt LLC
Just Reduced!!! - $900,000-ocean Front Complex. Kahana Sunset D-3 Located On Keonenui Bay, Steps Away From The Beach, 2 Bedrooms, 2.5 Baths , Beautifuly Remodeled New Furniture. Upgraded Front Door And Guest Bedroom Window!! Ac Upgraded!! One Master Bedro...
Listed By: Island Sotheby's International Realty(M) Office Contact: Cell: 808-283-0049
Experience The Magic Of Maui Sunsets From Your Private Lanai At Kihei Surfside, Set On 1.5 Acres Of Spectacular Oceanfront Property. This One-bedroom, One-and-a-half Bath Condo Is Located In The Hotel Zone, Allowing Short-term Rentals While Also Offering T...
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-280-0086
Hotel Zoned. Breathe In This Coastal Chic Brand New Remodel (2023). Absolutely Stunning Renovation Complete With Quartz Countertops, Lux Appliances, Brushed Moderne Brass Fixtures And Custom Wood Working Throughout. En Suite Laundry. Pets Of All Sizes Allow...
End Unit Means Large An Extra Large Window That Overlooks The Kealia Pond As Well As The Ocean Blue For Whales & Sunsets. Sugar Beach Resort On Maui's South Shore Rests On Five Miles Of Sandy Beach. This Hotel Zoned Resort (which Allows For Vacation Rentals...
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...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-870-4899
Available To Show Tuesday March 10th. Direct Oceanfront Unit Competitively Priced To Sell In Popular Hotel-zoned Community! Menehune Shores #217 Is Perfectly Positioned Approx 100 Feet From The Shoreline With Unobstructed Panoramic Ocean Views And Convenien...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-250-9356
Enjoy Spectaculous Ocean Views From This Highly Desirable 2 Bedroom 2 Bathroom Oceanfront Condominium. Take In Some Of The Most Beautiful Maui Sunsets, Or Watch The Whales Swim By In The Channel With Views Of Lanai. This Completely Remodeled Apartment Offer...
Enjoy Island Living In The Heart Of Maalaea In This Beautifully Renovated 2-bedroom, 2-bathroom Condo With Stunning Ocean Views. The Living Room, Kitchen, Main Lanai, And Primary Bedroom All Capture Expansive Views Of The Pacific, With The Primary Suite Als...
4365 Lower Honoapiilani Rd 520, Napili/kahana/honokowai, HI
MLS® #408147
Listed By: Maui Luxury Real Estate LLC
Hotel Zoned, Short Term Rentable, Double Door End Unit With Unsurpassed Natural Light And Windows On All Three Sides. Royal Kahana 520 Is A Fifth-floor Residence Overlooking The Vast, Azure Ocean And Complex Pool. The Beautiful Five Star Remodel Features St...
Wow—just Wow! Hotel-zoned On A Pristine White Sand Beach, Unit 430 Is Ideally Situated In The Coveted Front Row Of Sugar Beach Resort, Offering Unobstructed Ocean Views And Direct Access To The Shoreline. This Thoughtfully Remodeled 1-bedroom, 1-bathroom Ge...
4401 Lower Honoapiilani Rd B501, Napili/kahana/honokowai, HI
MLS® #405348
Listed By: Jeffrey Samuels Realty
Hoa Covers All Your Utilities. Imagine Waking Up To The Gentle Sound Of Waves And The Breathtaking Sight Of Molokai Across The Sparkling Blue Waters. Now Is Your Chance To Own A Beautifully Remodeled Fifth-floor Condo At The Hololani Resort, Where Comfort M...
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
