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.
3959 Lower Honoapiilani Rd, Unit 207, Napili/kahana/honokowai, HI
MLS® #405810
Listed By: Hawaii Life (W) Office Contact: Cell: 808-870-8668
This Stunning, 2nd Level One-bedroom, One-bathroom Unit In One Of West Maui’s Most Sought- After Buildings Is Priced To Sell! Spectacular Ocean Views From One Of The Largest 1-bedroom Floor Plans Available. Whether You Are Looking For A Vacation Rental, 2nd...
5315 Lower Honoapiilani Rd, Unit E-141, Napili/kahana/honokowai, HI
MLS® #402845
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-2420
Please Note That Napili Shores Is Zoned As H-1 (aka Nbcid... Napili Bay Civic Improvement District) The Napili Shores Complex Is Comprised Of 162 Units On Over Six Acres Of Land, Directly Abutting The Pacific Ocean. Its Lush Grounds And In-ground Pool, Cou...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-344-2677
Views Views Views! Rarely Does A 4th Floor, Direct Beachfront Mahana Studio Become Available Until Now! This Spacious Studio Condominium Is Located Directly On The Famous White Sand Beaches Of Kaanapali North Beach. Offering 180 Degrees Of Unobstructed Isl...
4327 Lower Honoapiilani Rd, Unit 903b, Napili/kahana/honokowai, HI
MLS® #405729
Listed By: Hawaiian Islands Mgmt LLC
Just Reduced !! Gorgeous And Peaceful!! Just Remodeled, 2 Bed, 2 Bath 1040 Sq Ft. Fully Furnished! Turn Key! A Must See! Beach Front Condo! Hotel Zoned! Short-term Rental Yes! Amazing Ocean Views From Lanais And Master Bedroom! It Has A Pool, Bbq. Bea...
4327 Lower Honoapiilani Rd, Unit 605b, Napili/kahana/honokowai, HI
MLS® #404552
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-280-2255
Breathtaking Panoramic Ocean And Sunset Views From This Beautifully Maintained 1 Bedroom, 1 Bath Villa With A New Queen Wall Bed. Hear The Waves Lap Against The Shore As You Sit On Your Private Lanai Watching Beautiful Sunsets And The Whales Frolic. Fully...
3695 Lower Honoapiilani Rd, Unit 208, Napili/kahana/honokowai, HI
MLS® #405804
Listed By: Keller Williams Realty Maui-Ki Office Contact: Cell: 808-344-3584
Enjoy The Sights And Sounds Of The Ocean From Hale Kai 208, A Rare 2-bedroom, 2-bath Oceanfront Condo In The Desirable Honokowai Neighborhood Of West Maui. Bordering Honokowai Beach Park, This Turnkey Unit Offers Vaulted Ceilings, An Open And Flexible Floor...
Ka’anapali Shores 324 Is Being Offered At A "wow" Price! Compare To All The Rest In The Complex And You Will Likely Find It's The Best Bargain Available At The Luxurious Aston Ka'anapali Shores Resort. The New Owners Will Also Benefit From Many Recent Upgra...
Spectacular Beachfront Location On Maui’s Napili Bay. This Beautiful Ground Floor One-bedroom Is Super Convenient For Relaxing In The Comfort Of Your Hawaiiana-inspired Décor Along With A Spacious Airy Feeling In Your New Maui Home. From Your Beachfront Lan...
4365 Lower Honoapiilani Rd, Unit 1206, Napili/kahana/honokowai, HI
MLS® #405822
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-495-6236
Embrace An Outstanding Opportunity To Own Your Idyllic Oceanfront Haven At The Royal Kahana, Unit 1206, A Premier Top-floor Retreat Boasting One Of The Highest Vantage Points In West Maui. This Direct Oceanfront 1-bedroom, 1-bath Condominium Spans Approxim...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-870-8668
Welcome To The Penthouse. This Is A 4th Floor Corner Unit Offering Outstanding Ocean And Outer Island Views As Well As Beautiful Sunrises Over Haleakala. Tastefully Remodeled Featuring New Appliances, Fans And Lighting. Tile Flooring In Kitchen, Living Area...
Upgraded In November 2024 With Vinyl Flooring , A Split-trio Mitsubishi Ac System, And Fresh Paint Throughout. Escape To Your Own Personal Oasis In West Maui With This Charming Two Bedroom, Two Bath Oceanfront Retreat. Wake Up To Breathtaking Ocean Views An...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-866-2334
Incredible Value Awaits! Most Affordably Priced One Bed, Two Bath Condo In Highly Desirable maui Sunset Resort At Time Of Listing. Many Recent And Tasteful Upgrades Such As Stainless Steel Appliances, New Luxury Vinyl Flooring Throughout, Tile Flooring In T...
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
