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-KP Office Contact: Cell: 808-276-6443
Ka'anapali Alii 2-305 Offers A Desirable 2bd/2ba Corner Floor Plan Captivating Views Of Both The Inner Courtyard And The Ocean. Updated With Granite Counters, Stainless Steel Appliances, And Tile Flooring Throughout. Hotel Zoned For Short-term Rentals, Comb...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Hokulani 547 - Welcome To Your Dream Beachfront Luxury Condominium! Hotel Zoned Property Per County Records. This Stunning 2b/2b Unit Offers An Unparalleled Living Experience In One Of The Most Sought-after Locations In Kaanapali. The Interior Features Plus...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-344-2677
Views Views Views! Rarely Does One Of The Best Beach Front Properties Become Available…until Now! Located On The Tenth Floor Of The Lanai Building (aka South Building), Mahana 1019 Is A Corner-coastline, Direct Beachfront 2-bedroom And 2-bathroom Condominiu...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-250-1583
Alaeloa 28 Is An Oceanfront Maui Paradise! It Is The Most Highly Upgraded Oceanfront Duplex In Alaeloa Which Captures Modern Luxury Surrounded By The Essence Of 'old Hawaii' Seamlessly Blending Sophisticated Architecture Enhanced By Panoramic Oceanfront Vie...
Kaanapali Alii Ii-205 Is A Centrally Located 2bd/2ba Corner Unit With Ocean Views From The Kitchen, Living Room, And Master Suite. Hotel-zoned And Boasting Strong Short-term Rental Performance Under Professional Management, This Turnkey Residence Is Both Li...
Listed By: Real Broker LLC Office Contact: hawaiisbest1@gmail.com
Get Ready To Fall In Love! This Direct Oceanfront Condominium At The Exclusive Kapalua Bay Villas Is More Than Just A Home—it's A Front-row Seat To The Stunning Beauty Of Maui, Hawaii. Whether You're Sipping Your Morning Coffee Or Unwinding At Sunset, The B...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-276-6443
Prime Penthouse Location With Stunning Ocean Views Overlooking World Famous Kaanapali Beach And Black Rock. This One Bedroom Plus Den Can Sleep Up To 6 Guests And Features Granite Countertops, Custom Cabinetry, Two Walk In Showers As Well As Tile Flooring T...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-283-3067
Honua Kai - Konea Nr609 Is A 2 Bed / 2 Bath Ocean-view Residence With An Expansive Interior Courtyard. Set Well Above The Palm Trees That Grace The Grounds And Beachside Pools Below, It Enjoys A Commanding Vista Of The Pacific. With The Lanai's Glass Nano W...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-276-6443
Enjoy The Kaanapali Beach Lifestyle In This Immaculate 2-bedroom/2-bath Corner Unit At The Highly Desired Kaanapali Alii Luxury Condominium Resort. This Turn Key, Fully Furnished And Meticulously Maintained Corner Unit Is Ideally Positioned On The 6th Floor...
3300 Wailea Alanui St, Unit 38f, Wailea/makena, HI
MLS® #405808
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-463-5744
Experience Wailea Living At Its Finest In This Stunning 2-bedroom, 2-bathroom Upstairs Condo, Offering Amazing Panoramic Ocean Views That Will Take Your Breath Away. Watch Year-round Sunsets From The Comfort Of Two Of Your Three Private Lanais, Each Providi...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-250-5948
A Spectacular Opportunity To Own At The World Famous Kaanapali Beach Resort In A Stunning Unit At The Kaanapali Alii Offering Mesmerizing Mountain Views And A Peek-a-boo Of The Ocean. Picture Perfect Spot On The Lanai To Enjoy Morning Coffee As The Sun Rise...
3600 Wailea Alanui Dr, Unit 1101, Wailea/makena, HI
MLS® #406386
Listed By: Maui Real Estate Advisors LLC Office Contact: 808-875-4444
Step Into A Lifestyle Few Ever Get To Experience; Where Your Backyard Is One Of Maui’s Most Celebrated Beaches And Every Detail Of The Unit Reflects Effortless Elegance. Just Moments From The Sand, Wailea Elua 1101 Is A Ground-floor, 1-bedroom, 1-bath Luxur...
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
