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.
3543 Lower Honoapiilani Rd, Unit J403, Napili/kahana/honokowai, HI
MLS® #405284
Listed By: Maui Westside Properties
J403 Is A Spacious Top-floor, Unit With Stunning Ocean Views. 2 Bedrooms 2 Bathrooms And A Loft. Quad-zone Split Unit Air Conditioning. The Property Is Situated On 13 Tropical Acres And Features Two Oceanside Swimming Pools And Spas, Two Tennis/pickleball C...
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3875 Lower Honoapiilani Rd, Unit B-306, Napili/kahana/honokowai, HI
MLS® #406501
Listed By: Coldwell Banker Island Prop(Ka) Office Contact: Cell: 808-385-4665
Welcome To Your Slice Of Paradise At Hale Mahina, One Of West Maui’s Most Sought-after Beachfront Complexes. Perfectly Located This Corner Unit Is Situated Between World Class Kapalua And Kaanapali Resorts And Just Minutes From Shopping, Dining, And Activit...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-563-3268
Experience The Ultimate Maui Lifestyle In This Beautifully Updated 1-bedroom, 1-bathroom Condo, Perfectly Situated On The Renowned Sugar Beach. With Direct Ocean Views, This Charming Condo Offers The Perfect Blend Of Tropical Elegance And Modern Comfort, Ma...
4365 Lower Honoapiilani Rd, Unit 505, Napili/kahana/honokowai, HI
MLS® #406951
Listed By: Real Broker LLC Office Contact: Cell: 808-990-4425
Nestled In One Of West Maui’s Most Iconic Oceanfront Resorts, Royal Kahana #505 Is A Fee-simple Studio With Superb Guest Appeal And Ownership Value. This 431 Sq Ft Unit Features Central A/c, A California King Bed, In-unit Washer/dryer, And A Private Lanai W...
Welcome To Your Oceanfront Escape On The 10th Floor Of Valley Isle Resort, Located On Kahana Beach. This Direct Oceanfront, One-bedroom, One-bath Condo Offers Panoramic Views Of Molokai And Lanai, Along With The Soothing Sound Of Waves. The Spacious 768 Sq....
4327 Lower Honoapiilani Rd, Unit 802, Napili/kahana/honokowai, HI
MLS® #406088
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-870-0674
Oceanfront Opportunity In Hotel-zoned Resort! Wake Up To Panoramic Ocean Views From This 1-bed, 1-bath Condo At Valley Isle Resort In Kahana. This Spacious 768 Sq. Ft. Unit Features A Murphy Bed In The Living Area For Added Flexibility And Offers Stunning V...
3543 Lower Honoapiilani Rd, Unit C107, Napili/kahana/honokowai, HI
MLS® #403866
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-344-2677
Located In One Of West Maui Exclusive Oceanfront Condominium Communities, Papakea C107 Is The Perfect, Ground Floor Studio Property. Offering 454 Sq.ft. Of Living Area, This Property Is Centrally Located Within The Community And Offers Ocean, Resort And Gar...
3559 Lower Honoapiilani Rd, Unit 5g, Napili/kahana/honokowai, HI
MLS® #403942
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-357-4000
Direct Oceanfront Location For This Top Floor, Upgraded 2 Bd/1.5 Ba Unit At Maui Sands. Stunning Ocean Views Are Enjoyed The Minute You Walk Thru The Front Door Of The Unit, From The Living Room, Kitchen And The Large Lanai. Sit On The Lanai And Observe The...
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MLS® #405106
Listed By: Maui Ohana Real Estate LLC Office Contact: 808-280-1090
From Sunrise Coffee To Champagne Sunsets, Kahana Reef 214 Delivers Oceanfront Living So Close, You Can Taste The Salt In The Air. This Isn’t Just Real Estate — It’s Your Private Front-row Seat To Nature’s Best Show. Watch Whale Breaches, Turtles Cruise By, ...
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Kauhale Makai, Unit 102 - Beachfront Property! This Great Little Studio Sleeps 4 And Is Steps Away From The Ocean. Conveniently Located On The Ground Floor, Sold Fully Furnished And Turn-key, Ready For You And Your Guests! This Beautifully Maintained Prop...
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MLS® #407279
Listed By: Berkshire Hathaway Maui Prop-L
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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
