Posted by Courtney M. Brown on Monday, January 27th, 2020 at 12:57pm.
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 $10,880,000.
| Year | Sales | Volume | Avg SP | Avg SP$/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% |
| 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.
Residential
50 Nohea Kai Dr, Unit I-304, Kaanapali, HI
MLS® #404368
Listed By: Gregory Harbottle Inc
Luxury Living And Ocean Views Await In Ka'anapali Alii Unit I-304! Overlooking The Inner Courtyard, This Location Enjoys A More Intimate And Picturesque Feeling Enhancing Your Beachfront Lifestyle. This Two Bedroom, Two Bathroom Residence Features A Spaciou...
Residential
2481 Kaanapali Pkwy, Unit 1208, Kaanapali, HI
MLS® #405079
Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-283-3067
This Exquisite Fully Furnished Turn-key Penthouse At The Whaler Is Ready For You To Move In And Enjoy. Since It Was Remodeled In 2008, It Was Only Used 2 Months A Year By The Owner And Has Been Kept In Immaculate Condition. It Was Previously Owned By A Deve...
Residential
3911 Maalaea Bay Pl, Unit 3911 Maalaea Bay Pl, Wailuku, HI
MLS® #404786
Listed By: Welcome Hawaii Properties
Office Contact: Cell: 808-280-2480
Newly Renovated And Positioned Along 200 Feet Of Serene Shoreline, 3911 Ma'alaea Bay Place Is The Epitome Of Hawaiian Coastal Living. The 2,300 Sq. Ft., Three-bedroom, Two-bath Home Blends Contemporary Design With The Natural Beauty Of Its Surroundings. E...
Residential
500 Bay Dr, Unit 16-b2-3-4, Kapalua, HI
MLS® #405269
Listed By: Keller Williams Realty Maui-Ki
Office Contact: Cell: 808-371-6475
Imagine Waking Up To The Rhythmic Sound Of Waves, Stepping Onto Your Private Lanai, And Watching The Sunrise Over The Pacific With Moloka‘i And Honolua Bay Framing The Horizon. Kapalua Bay Villas, Unit 16b 2-3-4 Is A Rare, Single-level Oceanfront Villa, Off...
Residential
2481 Kaanapali Pkwy, Unit 701, Kaanapali, HI
MLS® #405917
Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-344-2677
From The Moment One Enters Whaler 701, Stunning Unobstructed Ocean Views Are Enjoyed From The Kitchen, To The Living Room And Throughout The Bedroom! Providing A South-west Facing Ocean View As Well As A North Facing View Of Kaanapali’s Iconic Black Rock Be...
Residential
1 Ritz Carlton Dr, Unit 1126-1128, Kapalua, HI
MLS® #403903
Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-870-7060
Actual Apartment Numbers Are 1126-1128. Ground Floor Ocean Front Location For This Beautifully Appointed Ritz Carlton Kapalua 2 Bedroom, 2 Bath Luxury Suite. Conveniently Close To The Award Winning Pools And Water Features Of The Ritz Carlton And Also Ver...
Residential
2481 Kaanapali Pkwy, Unit 1001, Kaanapali, HI
MLS® #405709
Listed By: Berkshire Hathaway Maui Prop-L
Whaler 1001 Stands As One Of The Most Coveted And Irreplaceable Locations In All Of West Maui. Perched On The Front Row Corner Of The North Tower, This Rare 1-bedroom, 2-bathroom Residence Occupies The Prized “01” Stack—an Offering So Exclusive, Units Here ...
Residential
1 Ritz Carlton Dr, Unit 1714-16, Kapalua, HI
MLS® #404140
Listed By: Seven Signatures International
Ritz Carlton Kapalua 2 Bedroom, 2 Bath Luxury Suite. Appliances Include Sub-zero Refrigerator/freezer And Sub-zero Wine Cooler. Enjoy Your Vacations At This 5 Star Ritz Carlton Resort And Rent When You're Not In Residence. Lock-off Capability Gives The Flex...
Residential
500 Bay Dr, Unit 23b3, Kapalua, HI
MLS® #404203
Listed By: Island Sotheby's International Realty(L)
Office Contact: Cell: 808-250-0210
Located Along The Kapalua Coast, This Oceanfront Bay Villa Features Breathtaking, Unobstructed Views Of The Pacific Ocean, Molokai, And The Dramatic Coastline. With No Stairs To Access, This Is A Rare Single-level, Two-bedroom Villa--one Of Only Six Located...
Residential
3600 Wailea Alanui Dr, Unit 2012, Wailea/makena, HI
MLS® #405307
Listed By: Coldwell Banker Island Prop(S)
Office Contact: Cell: 808-425-3566
Welcome To Wailea Elua, An Exclusive Oceanfront, Hotel-zoned Vacation Rental Set Atop A Lush Greenbelt In Prestigious Wailea. Spanning 24 Acres Of Tropical Paradise, This Sought-after Community Offers An Unparalleled Blend Of Luxury, Serenity, And Income Po...
Residential
3445 Lower Honoapiilani Rd, Unit 502, Kaanapali, HI
MLS® #404692
Listed By: Keller Williams Realty Maui-L
Office Contact: Cell: 808-446-4551
Experience The Height Of Sophistication In Oceanfront Living As This Modern Residence Redefines Luxury Within The Ka'anapali Shores Resort. Enviably Positioned On The Fifth Floor, This Direct Beachfront Corner Unit Enjoys An Expansive Wrap-around Lanai High...
Residential
2481 Kaanapali Pkwy, Unit 908, Kaanapali, HI
MLS® #405537
Listed By: Coldwell Banker Island Prop-KP
Office Contact: Cell: 808-283-3067
This Beautifully Remodeled 1-bedroom, 2-bathroom Condo Is Designed With An Open-concept Great Room, Floor-to-ceiling Sliding Glass Doors That Open Onto A Spacious Lanai From Both The Living Area And The Luxurious Bedroom Suite. The High-end Kitchen Showcase...
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