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.
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-385-1336
Best Possible News For Discerning Beach Lovers: Exquisite Polo Beach Club 408 Has Come To Market. It Is Like None Other. The Creative, Extensive And Elegant Remodel Redefines The Interior Living Experience. Open Gourmet Kitchen Features A Granite Island Wit...
Escape To Your Own Private Paradise In The Serene Coastal Town Of Hana, Maui. This Custom-built 3-bedroom, 3.5 Bathroom Home Is A Testament To Luxury And Tranquility, Offering An Expansive 3295 Square Feet Of Carefully Crafted Living Space. Upon Entering, Y...
A Unique And Family-friendly Dwelling Perched Right Above The Primary Pool Offers A Perfect Spot To Savor Your Morning Coffee Or A Refreshing Fruity Cocktail, Depending On The Time Of Day, As Your Children Or Grandchildren Revel In The Pool Below. This Unit...
Listed By: Susan Jackson Real Estate Office Contact: Cell: 865-206-1234
Konea 549 (a Three Bedroom / 3 Bath Home) Is Now Available For Sale! It Comes Loaded With Recent Upgrades Such As A Newer Dishwasher, Refrigerator, Water Heater And Microwave. Enjoy Cooking From Simple To Gourmet Meals In Your Viking Kitchen. Watching Wha...
4850 Makena Alanui Rd, Unit C101, Wailea/makena, HI
MLS® #399939
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-359-5975
Amazing Opportunity To Own This Rare Ground-floor, Corner Unit In A Stunning, Luxurious Beachfront Resort Nestled Along The Beautiful Makena Coastline. This Spacious 2-bedroom, 2-bathroom Accents An Additional Den/office Area That Could Easily Be Converted...
Listed By: Welcome Hawaii Properties Office Contact: Cell: 808-280-2480
Alaeloa 9 Is A Spacious, Four-bedroom, Four-bathroom Ocean-view Home Located Steps Away From The Beautiful Blue, Turtle-filled Waters Of Napili. The Home Is Located Within An Idyllic 13.357-acre Oceanfront Community Known As Alaeloa. Alaeloa 9 Is Unique, A...
4850 Makena Alanui Rd, Unit G303, Wailea/makena, HI
MLS® #398224
Listed By: Equity One Real Estate Inc (P) Office Contact: Cell: 808-283-1775
This Rare And Stunning Location Directly On The Ocean Has Breathtaking Views Of The Makena Coastline, Molokini And Kahoolawe. Beautiful Natural Light Fills The Living Area Of This 3rd Floor Unit In Highly Desirable Building G. The Vaulted Ceiling And Large...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-250-1583
Located In Building 2 Of The Kaanapali Alii, This Charming 2 Bedroom, 2 Bath Unit Has Partial Views Of The Ocean, Mountain, And Courtyard. Owners And Guests Alike Can Enjoy Full Service On-site Front Desk, Bell Service, And Concierge From This Beautiful Res...
Introducing "cliff's Edge," Is A Truly Exceptional Oceanfront Property. Formerly An Exclusive Vacation Destination, This Property Has Been Featured In Coastal Living, Usa Today Travel And Many Others. Nestled On The Corner Of Waipio Bay, At The Very End Of ...
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-250-0210
Escape To This Tranquil Retreat In The Gated Oceanfront Community Of The Ironwoods In The Kapalua Resort. Renovated And Reimagined In 2022, This Single-level Residence Is Incomparable And Casually Elegant, With Breathtaking Ocean And Golf Course Vistas. It...
Truly One-of-a-kind...honua Kai Resort's Hokulani 109 Is The Only Premier Ground-floor Two Bedroom/two Bath Floor-plan In The Vibrant Inner Courtyard; Boasting Expansive Indoor/outdoor Living Space With Its Two Folding Glass Nano Walls Wide Open To Its Meti...
Listed By: Susan Jackson Real Estate Office Contact: Cell: 865-206-1234
A Very Rare Opportunity To Own One Of The Most Desirable Homes At Honua Kai Is Now Available To You. Hokulani 409 Offers The Highly Coveted L-shaped Double Lanai, Allowing You The Choice Between Sun And Shade All At The Same Time. The 09 Stack Is The Close...
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
