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: 808-283-8771
Premiere Location On The 3rd Floor Of The Konea Building—offering A Wonderful Connection To The Inner Courtyard Activities And Creating An Ideal Setting For “people Watching”, Whether In The Apartment Or On The Lanai. The Front Door Is Just Steps From The E...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-283-3436
Welcome To Montage Residences Kapalua Bay. Residence 5104 Is A Private, Truly One Of A Kind Ground Floor Offering Direct Access To Lush Lawn And Yard Space With Tropical Gardens. Ideally Located Just Steps From Kapalua Bay, The Montage Spa, Fitness Center, ...
Finally, A Top-floor Unit At Elua Village With A Garage. Enjoy The Rare Combination Of A Preferred Floor Plan, Ocean View, Expansive Lanai, And A Private Garage That Is Just Steps From The Sugar White Sands Of Wailea's Ulua Beach And The Elua Village Beachf...
Listed By: Coldwell Banker Island Prop(S) Office Contact: Cell: 808-283-4189
Aloha From Wailea Elua; Wailea Elua Is One Of Wailea's Premier Properties With Direct Beach/ocean Access That Is Hotel/resort Zoned :)!! This Allows Owners The Ability To "short Term Vacation Rental" To Generate Income!! This Is An Added Premium Valuation I...
Listed By: Island Sotheby's International Realty(L) Office Contact: Cell: 808-250-0210
Situated Along The Kapalua Coastline, This Oceanfront Sanctuary Sits In A Premier Front-row Position Offering Panoramic Views Of The Ocean And The Outer Island Of Moloka’i, Year-round Sunsets, And A Front-row Seat To Whale Season. Inside, The Villa Has Bee...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-214-4492
Experience Luxury Resort Living At The Ritz-carlton Maui, Kapalua. This Two-bedroom Residence (units 1614/1616) Offers A Flexible Two-bedroom Lockoff Configuration That Can Accommodate Up To Six Guests And Has Partial Ocean Views. The Primary Bedroom Featur...
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-385-0882
Superb 9th Floor View Unit Of Ocean, Sandy Golden Beach, Perched Over The Tranquil Inner Courtyard And Pools Of Legacy Visitor Property Kaanapali Alii At The Center Of Kaanapali Beach! Beautifully Appointed, This 2 Bedroom 2 Bath Private Ownership Condo At...
Listed By: Keller Williams Realty Maui-Ka Office Contact: Cell: 808-385-0882
This Is A Corner Unit Floorplan That Gives A Lofty Birdseye View Above The Beautiful Tropical Inner Courtyard Of Celebrated Kaanapali Alii Flush With The Ocean. Gaze Out Of The Sanctuary Of Your Maui Home Window To Blue Ocean And Stretches Of Golden Sands...
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...
Listed By: Maui Real Estate Advisors LLC Office Contact: 808-875-4444
From The Moment You Enter Wailea Point 1904, The World Seems To Pause. Before You Lies A Sea Of Liquid Blue: Waves Shimmering Under The Sun, Clouds Drifting Like Silk Across The West Maui Mountains, And The Scent Of Salt Carried On The Breeze. It’s Not Just...
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...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-276-6443
Welcome To Kaanapali Alii 1-304, A Highly Sought-after And Rarely Available 3rd-floor Inner-courtyard Residence Located In The Hotel Resort Zone. This Beautifully Positioned 2-bedroom, 2-bath Vacation-rentable Condo Features A Generous Lanai With Peaceful V...
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
