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.
4435 Lower Honoapiilani Rd, Unit 212, Napili/kahana/honokowai, HI
MLS® #405159
Listed By: Maui Real Estate Advisors LLC Office Contact: 808-875-4444
Just Reduced And An Amazing Opportunity! Pohailani 212 Is A Stunning Oceanfront Condo Offering Panoramic Pacific Views And Vibrant Maui Sunsets. Spend Hours Captivated By Whales Breaching, Sea Turtles Grazing Along The Expansive Reef, And Waves Rolling In....
Upgraded In November 2024, This Renovated Ground-floor Beachfront Condo Offers The Ultimate In Convenience And Island Living. Enjoy Seamless Indoor-outdoor Living With Direct Walk-out Access To A Lush Grassy Area Beach. Inside, The Unit Features New Vinyl F...
5315 Lower Honoapiilani Rd, Unit D224, Napili/kahana/honokowai, HI
MLS® #406172
Listed By: Living Maui Real Estate LLC Office Contact: Cell: 808-359-1161
Welcome To Napili Shores D224 — A Top-floor Garden Studio With Direct Access To The Golden Sands Of Napili Bay. This Inviting Unit Features Soaring Vaulted Ceilings, Tile Flooring Throughout, And An Oversized Lanai That Opens To Lush Tropical Landscaping. T...
4327 Lower Honoapiilani Rd, Unit 207b, Napili/kahana/honokowai, HI
MLS® #404546
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-281-7313
Welcome To Valley Isle 207b, A Private Studio Condo Offering Breathtaking Oceanfront Views On Kahana Beach. Facing West, This Idyllic Maui Retreat Showcases Stunning Sunsets, Seasonal Whale Sightings, And Picturesque Vistas Of Lanai And The Majestic Island ...
4365 Lower Honoapiilani Rd, Unit 1018, Napili/kahana/honokowai, HI
MLS® #406758
Listed By: Maui Real Estate Advisors LLC Office Contact: 808-875-4444
Escape To Paradise At Royal Kahana 1018! Perched On The 10th Floor, This Stylish Studio Boasts Breathtaking Ocean And West Maui Mountain Views. Vacation In Elegance With Stone And Wood Vinyl Flooring, Sleek Granite Countertops, A Walk-in Shower With Glass E...
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...
3823 Lower Honoapiilani Rd, Unit 105, Napili/kahana/honokowai, HI
MLS® #406378
Listed By: Locations LLC
This Ground-floor, One-bedroom, One-bath Condo In West Maui’s Honokowai Neighborhood Presents A Compelling Investment Opportunity. Recently Renovated With A Fresh, Updated Look, The Unit Features An Open Floor Plan, Abundant Natural Light, And Convenient In...
4365 Lower Honoapiilani Rd, Unit 619, Napili/kahana/honokowai, HI
MLS® #403675
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-7736
Discover Your Perfect Maui Retreat In This Impeccable Studio Condo At Royal Kahana, A Popular, Oceanfront, Hotel-zoned, Vacation Rental With Great Ocean Views. Enjoy The Convenience Of Top-notch Amenities Like A Beachside Pool, Fitness Center, Bbq Facilitie...
3543 Lower Honoapiilani Rd, Unit K207, Napili/kahana/honokowai, HI
MLS® #403028
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-281-7313
Are You Ready For Spectacular Sunsets, Breathtaking Ocean Views, Sea Turtles, Whale Watching From A Peaceful Maui Island Retreat? Welcome To Papakea Resort. K207 Features Great Views From The Kitchen And Living Room Of The Tropical Koi Ponds, The Resort, Th...
Listed By: Hawaii Life (W) Office Contact: Cell: 808-870-8668
Priced Well Below Last Sale! Welcome To Kanai A Nalu 407! The Orientation Of This Top Floor Ocean View Unit Offers Incredible Sunrises Over Haleakala And Remains Cooler In The Afternoons. Renovations From 2018 To Present Include New Appliances, Kitchen Remo...
Welcome To Your Peaceful Escape On The 10th Floor Of Valley Isle Resort, Located On Kahana Beach. This One-bedroom, One-bath Condo Offers Sweeping Views Of The Pacific And The Calming Sound Of Waves Just Outside Your Window. Set Among Lush Tropical Landscap...
4327 Lower Honoapiilani Rd, Unit 801, Napili/kahana/honokowai, HI
MLS® #406294
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-870-0674
Experience The Best Of Maui From This Rare Oceanfront Corner Unit At Valley Isle Resort In Kahana. This Spacious 1-bed, 1-bath Condo Offers Panoramic Ocean Views From Both The Living Room And Bedroom — Plus Additional Sightlines Of The West Maui Mountains F...
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
