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, Unit 317, Napili/kahana/honokowai, HI
MLS® #403783
Listed By: Emerald Club Realty Inc
Amazing Beachfront Location With Resort Amenities Including Oceanfront Lawn Area, A Pool & Spa, Bbq Area, Clubhouse, Conference Room, Laundry Facilities, Elevators, And Extra Basement Storage And A Front Desk. This Is Your Opportunity To Own This Lovely Un...
Great Opportunity To Own A Condo In This Hotel Zoned Lahaina Landmark That Was Spared By The Recent Wildfires. Enjoy The Morning Sunrises Coming Up Behind The West Maui Mountains While Having Your Cup Of Coffee Before Going To The Pool Or Hottub. This Is ...
3615 Lower Honoapiilani Rd, Unit 320, Napili/kahana/honokowai, HI
MLS® #405302
Listed By: Emerald Club Realty Inc
Lowest Priced Unit At Paki Maui – Motivated Seller! Own Two Units On The Same Floor—live In One And Rent The Other For Ultimate Flexibility And Income Potential. Mls 403783 Unit 317 Offered For Sale. This Charming Condo Is Tucked Within An Oceanfront Resort...
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-359-4245
Welcome To Hono Kai B10, A Charming Condo Centrally Located In Maalaea, Just Steps Away From The Beautiful White Sandy Beach. The Open Living Space Flows Effortlessly Out To The Lanai, Providing The Perfect Place To Unwind And Savor The Refreshing Ocean Bre...
Wake Up To Ma‘alaea Bay And Unwind With Sunsets That Fade Straight Into The Pacific—lauloa 303 Sits Only 30 Feet From The Shoreline. This True Front-row, Two- Bedroom, Two-bath Condo Captures Uninterrupted Views From The Freight Trains Surf Break Up The Sou...
3875 Lower Honoapiilani Rd, Unit B205, Napili/kahana/honokowai, HI
MLS® #406199
Listed By: Real Broker LLC Office Contact: hawaiisbest1@gmail.com
Hale Mahina B205 – Your Oceanfront Escape Awaits Imagine Waking Up To The Gentle Sound Of Waves Lapping The Shore, Golden Morning Light Spilling Through Your Lanai Doors, And The Pacific Ocean Stretching Endlessly Before You. At Hale Mahina B205, That Dream...
3543 Lower Honoapiilani Rd, Unit J-303, Napili/kahana/honokowai, HI
MLS® #405327
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-264-4617
Priced To Sell! This 2-bed 2-bath Leasehold Condominium Apartment Has Been Remodeled Throughout With New Kitchen Countertops, Cabinets And Stainless-steel Kenmore Appliances. Both Master And Guest Bathrooms Have Walk In Showers With Decorative Tile Work. Ne...
3445 Lower Honoapiilani Rd, Unit 149, Kaanapali, HI
MLS® #404905
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 149- Welcome To This Charming Ground Floor One-bedroom, One-bath Unit, Perfectly Positioned For Easy Access To The Picturesque Sandy Beach. Enjoy The Ultimate Resort Lifestyle With Two Refreshing Swimming Pools, A Vibrant Restaurant, A Full...
Listed By: Coldwell Banker Island Prop-Ku Office Contact: Cell: 808-283-9709
Ocean Front Picture Perfect To Watch Waves Come In, Lease Hold Condo Only Long Term Permitted, End Unit Nicely Updated , Close To The West /central/or South Side Shops Etc. Turn Key Fully Furnished Just Bring Your Tooth Brush. This Is A Leasehold Property.
3559 Lower Honoapiilani Rd, Unit 720, Napili/kahana/honokowai, HI
MLS® #405995
Listed By: Fine Island Properties LLC Office Contact: Cell: 808-250-9858
Maui Sands Seaside Is Your Very Own "slice Of Paradise". This One Bedroom , One Bath Condo With Remodeled Shower Features An Open Floor Plan With Fresh Paint And Laminate Flooring. The Kitchen Offers Ample Wood Cabinets Storage, Center Island And And Decora...
Experience Oceanfront Living In This 1-bedroom Unit At Maalaea Yacht Marina. Enjoy A Meal On Your Private Lanai As You Watch The Whales Breach During Whale Season. This Condo Is Fully Furnished And Ready To Accommodate Your Island Lifestyle. The Community O...
3559 Lower Honoapiilani Rd, Unit 3g, Napili/kahana/honokowai, HI
MLS® #403229
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-250-5073
On The Coast Of North Kaanapali With A Treasured Old Hawaiian Atomosphere. Maui Sands Is A Low Density Property With Great Ocean And Sunset Views. On- Site Swimming Pool, Tropical Gardens, Storage Locker And One Assigned Parking Space. Close To Shops, Eater...
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
