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.
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...
3300 Wailea Alanui Dr, Unit 32a, Wailea/makena, HI
MLS® #405899
Listed By: McEntire Realty
Wow! Arguably The Best Unit In All Of Wailea Ekahi! It Was Designer Renovated From Floor To Ceiling Over A Six Month Period With No Expense Spared, And Now Exudes Elegance And Is The Epitome Of Luxury Within Wailea Ekahi. Boasting An Expansive Ocean View (w...
Hotel Zoned For Vacation Rentals- Konea 705 Is One Of The Premier 2brm/2bath Residences At Honua Kai Resort. This Luxurious Top Floor "penthouse" Has Commanding Views Of Both The Islands Of Molokai And Lanai From Far Above The Canopy Of Palms, Pools, And K...
This Luxury Condominium Resort Is Hotel Zoned For Vacation Rentals— Welcome To Konea 645 At Honua Kai Resort And Spa!....located In The Peaceful Confines Of Konea Tower's Expansive And Well Landscaped Interior Courtyard Including A Koi Pond, This 6th Floor,...
Listed By: Susan Jackson Real Estate Office Contact: Cell: 865-206-1234
Simply The Best View! Hokulani 605, A Spacious 1,100 Sq. Ft. Two-bedroom Home Is Located In The Very Sought-after Inner-courtyard At Honua Kai Resort And Spa. And Even Better, It’s On The Top Floor. Positioned Only Two Homes From Oceanfront, It Captures A...
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...
3445 Lower Honoapiilani Rd, Unit 456, Kaanapali, HI
MLS® #400495
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-870-2525
Kaanapali Shores 456. Hotel Zoned Property Per County Records. Rare Top Floor 2 Bedroom 2 Bathroom With A Loft That Is Being Used As A Full Third Bedroom And A Den Plus Extra Storage Closet. Excellent Ocean Views From The Remodeled Suite. Granite Counter To...
Listed By: Coldwell Banker Island Prop(P) Office Contact: Cell: 808-359-1527
Breathtaking Front Row Seat On The Ocean, There Is Nothing Like Heavenly Honokala In Haiku. First Time On The Market, Enjoy Rare Oceanfront Off Grid Seclusion In This Well Built Custom Home On Over An Acre. Spectacular Location On Accessible Honokala Bay, "...
Here It Is. Almost 3/4 Acres On Waikoloa's Black Sand Beach! Hear The Waves Crash All Day And Night. This Property Is Listed Under Its Appraised 4/6/25 Appraised Value Of $3,000,000! Are You Interested? If You Are Read On.... This Is The Only Home For Sale...
Listed By: Keller Williams Realty Maui-L Office Contact: Cell: 808-357-0958
Mahana 609 - Easy To Show. Hotel Zoned Property Per County Records. Introducing A Stunning Two-bedroom, Two-bathroom Direct Oceanfront Residence Spanning 1,214 Sq. Ft. This Spacious Corner Unit Boasts A Generously Sized Patio With Extra Windows Enhancing Th...
Experience The Perfect Blend Of Luxury, Comfort, And Investment Potential At Hokulani 836, A Premier 2-bedroom, 2-bath, 1,240 Sq. Ft. Corner Unit In The Renowned Honua Kai Resort In Maui, Hawaii. Perched On The 8th Floor, This Condo Features An Oversized La...
Listed By: Coldwell Banker Island Prop-KP Office Contact: Cell: 808-276-6061
Three Generations Have Cherished This Incredible Spot For Over 45 Years. This A Fabulous Place To Call Home, For So Many Reasons!! A Home On The Water In Kaanapali Beach Couldn’t Be Touched For Less Than $15 Million Dollars. This Family Cherished Property, ...
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
