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.
3800 Wailea Alanui Blvd, Unit K-208, Wailea/makena, HI
MLS® #400665
Listed By: Maui Real Estate Advisors LLC Office Contact: 808-875-4444
Wailea Beach Villas Is Revered As One Of Maui's Top Destination Resorts. Approx. 75% Of Wbv Units Are Highly Desired Legal Vacation Rentals. Located On Wailea Beach, Adjacent To The Four Seasons & Grand Wailea, In Maui's Resort Climate Zone, Hardly A Better...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-633-3382
The Maui Definition Of Location, Location, Location. Welcome To The Cove, A World Renowned Ocean Playground Along Maui’s Spectacular South Shore. There Is Simply No Comparison To This Incredible Beach Location, And The Hawaiiana Feeling Is Overwhelming. En...
3800 Wailea Alanui Blvd, Unit 209, Wailea/makena, HI
MLS® #401058
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-264-6836
Wailea Beach Villas. A Luxurious Gated Property In Maui, Hawai'i. Prime Location Near Beaches, Golf, And Dining. Elegant Design, Open-concept, Single Level Living With 3 Bedrooms, 3 Bathrooms, And A Den That Has Been Converted Into A 4th Bedroom. Private La...
This Exquisitely Furnished Residence Offers Luxury Resort-style Living, Elevating The Experience Of Coastal Elegance To New Heights. With Direct Oceanfront Access And A Walkout To A Tropical, Grassy Lawn Area, This Second-floor Elevation Home Presents An In...
Listed By: The Agency Maui Office Contact: Cell: 808-344-5575
Discover The Epitome Of Beachfront Living At 23 Nalu, A Charming Home Nestled On The Pristine White Sands Of Paia Bay On Maui's Northshore. This Tropical Oasis, Secured Behind Gates, Offers A 1.5-mile Stretch Of White Sand Beach, Clear Waters, And A Fantast...
Experience Year Round Sunsets Over The Water From Your Beach Front Lanai! Easy Access To The Water’s Edge To Enjoy All Kinds Of Water Sports. 1772 Halama St. Is Located On A Large Shallow Reef With A Secluded Beach Just A Few Feet Away. The Custom-designed ...
Listed By: Hawaii Life (MA) Office Contact: Cell: 808-283-0635
Sometimes Less Really Is More. Enjoy A Simpler Life In This Deluxe Oceanfront Cottage With Detached Garage/office On 2 All Usable Acres. You Won't Find Anything Like This On Maui's North Shore, Or Elsewhere On The Island. This Custom Designed, Award Winn...
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-250-0210
The Montage Residences Kapalua Bay Is Nestled Along The Shoreline Overlooking One Of Maui’s Most Popular Beaches, Kapalua Bay. This Stunning Condominium Residence Enjoys A Desirable Upper-level Location That Opens To Panoramic Ocean Views Of The Pacific Oc...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-250-1583
Rare Opportunity To Own One Or Two Contiguous Beachfront Homes On One Of South Maui's Favorite Beaches. Consolidation Of The Lots Located At 1598 And 1606 Halama Street Would Create An Estate Site Of Over 32,000 Square Feet. The Property Is Being Sold For ...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-250-1583
Rare Opportunity To Own One Or Two Contiguous Beachfront Homes On One Of South Maui's Favorite Beaches. Consolidation Of The Lots Located At 1606 And 1598 Halama Street Would Create An Estate Site Of Over 32,000 Square Feet. The Property Is Being Sold For L...
4000 Wailea Alanui Dr, Unit 901, Wailea/makena, HI
MLS® #401328
Listed By: Maui Real Estate Advisors LLC Office Contact: 808-875-4444
Almost Every Surface Of Wailea Point 901 Is Meticulously & Exquisitely Detailed. This 3 Bd, 4 Ba, Two-level, 2554 S.f. Ocean & West Maui Mountain View Home Features Custom Designer Finishes & Masterful Architectural Details Throughout. Everywhere You Look, ...
4000 Wailea Alanui Dr, Unit 801, Wailea/makena, HI
MLS® #400755
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-870-4073
Revel In Luxury From An Expansive And Private Oceanfront Condo With The Best Amenities In Its Class. The Spacious, Elegant, And Bright Two-story Residence Offers A Large Floor Plan Available To The Low Density, Gated Community Of Wailea Point Village. With ...
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
