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.
3445 Lower Honoapiilani Rd 644, Napili/kahana/honokowai, HI
MLS® #407304
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-280-5676
Experience The Best Of This Hotel Zoned Resort In West Maui In This Beautiful 1 Bed / 1 Bath Ocean View Unit, Ideally Located Just Minutes From The Kaanapali Beach And Whalers Village. Enjoy Easy Access To Pristine Beaches, Upscale Shopping, Award-winning D...
3823 W Lower Honoapiilani Rd 307, Napili/kahana/honokowai, HI
MLS® #408677
Listed By: Equity Hawaii Real Estate LLC
Direct Ocean Front. Exceptional Value For This Big Ocean View Condo With Year Round Sunsets And Seasonal Whale Watching From Your Living Room And Lanai. Ocean Views Throughout The Unit With The Sounds Of The Surf. Tastefully Decorated And Fully Furnished. C...
This Beautifully Updated Beachfront Condo Offers Spectacular Ocean Views. Featuring New Vinyl Flooring, A Modern Dual-split Mitsubishi Ac System, And Fresh Interior Paint, This Fully Furnished Unit Is Located Within A Hotel-zoned Resort. A Successful Vacati...
Listed By: Welcome Hawaii Properties Office Contact: Cell: 808-280-2480
Hono Kai B5 Is An Opportunity To Own An Oceanfront Retreat In The Quiet And Highly Desirable Hono Kai Resort On Maalaea Bay. This Fully Upgraded One-bedroom, One-bath Fee-simple Condo Offers Panoramic Ocean Views And A Peaceful Setting Just Steps From The...
4471 Lower Honoapiilani Rd 203, Napili/kahana/honokowai, HI
MLS® #407868
Listed By: Hawaii Life (W) Office Contact: Cell: 808-870-8668
Experience Direct Oceanfront Living At Kahana Reef 203. This Beautifully Remodeled And Furnished 1-bedroom, 1-bath Condo Offers Unobstructed Views Of Molokai And Lanai. Enjoy Morning Coffee Or Sunset Cocktails From Your Private Lanai While Taking In The Sou...
4471 Lower Honoapiilani Rd 221, Napili/kahana/honokowai, HI
MLS® #408941
Listed By: Hawaii Life (W) Office Contact: Cell: 808-870-8668
Kahana Reef Is A Low-density Oceanfront Building In West Maui Conveniently Located Between Lahaina And Kapalua Near World-class Beaches, Golf And Dining. Unit 221 Is A Direct Oceanfront Unit With Spectacular Views! This Unit Features A Remodeled Kitchen Wi...
4095 Lower Honoapiilani Rd 114b, Napili/kahana/honokowai, HI
MLS® #406789
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-344-4427
Great Things Truly Do Come In Small Packages, And This Rare Noelani Resort Studio Is No Exception. Perfectly Designed For Comfort And Function, It Features A Remodeled Kitchen And Bath, Cool Tile Floors Throughout, Split A/c, Two Ceiling Fans, And Timeless ...
Listed By: The Agency Maui Office Contact: Cell: 808-280-7890
This Fully Remodeled Ground-floor Condo At Kauhale Makai—an Oceanfront Resort Community—invites Easy Island Living. Open Your Sliding Door To A Well-kept Lawn That Leads Directly To The Pool, Jacuzzi, Shuffleboard, And Bbq Area. Ideally Situated, The Unit A...
5315 Lower Honoapiilani Rd D128, Napili/kahana/honokowai, HI
MLS® #408344
Listed By: Real Broker Office Contact: Cell: 808-298-2030
Napili Shores Is One Of West Maui’s Most Iconic Low-rise Oceanfront Resorts—celebrated For Its Timeless Hawaiian Character, 6.3 Acres Of Lush Tropical Grounds, And Direct, Walkable Access To The World-famous Sandy Beach Of Napili Bay Just Moments Away. Elev...
4327 Lower Honoapiilani Rd 602b, Napili/kahana/honokowai, HI
MLS® #408940
Listed By: Real Broker Office Contact: Cell: 808-868-6848
Welcome To Your Dream Retreat In Maui, Where Your Senses Are Filled With The Sights And Sounds Of Azure Waves Caressing The Golden Sands, And Gentle Breezes Whispering Through The Palm Trees. Bonus! This Complex Is Hotel Zoned And Is Not Impacted By The Pas...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 530 - This Exquisite Fifth-floor Ocean View One-bedroom One-bath Unit Is Situated In A Great Location At The Beachfront Resort Of Kaanapali Shores, Making It The Ideal Retreat For Both Family Vacations And Full-time Living. The Property Fea...
4471 Lower Honoapiilani Rd 202, Napili/kahana/honokowai, HI
MLS® #406083
Listed By: Equity Hawaii Real Estate LLC
Direct Ocean Front. Your Front Row Seat To Whale Watching And Incredible Sunsets From Your Private Second Floor Lanai. Fully Furnished - All Bedroom, Living Room, Kitchen, Lanai Furnishings Including A Sleeper Sofa. Tastefully Renovated With A Fully Equipp...
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
