Welcome to the Report
There is one dominant market force at play when it comes to sales of oceanfront homes, both on Maui and throughout the state of Hawaii, and it can be summed up with just one word: Scarcity. Buyer demand for move-in ready homes is significantly outpacing the available supply which is why the last few years have shown a remarkable increase in prices! The next 12 to 24 months may very well prove to be the most opportune time in a decade for oceanfront home owners who are considering selling.
That scarcity is especially evident when you look at changing trends for the number of new listings debuted on the market. In all of 2022 there were just 47 oceanfront home listings brought on the market which is a 7-year low (2015 had just 44 listings). As a result, the number of oceanfront homes sold last year dropped to 25 which is down 50% from 2021 when there were 50 sales.
2021 certainly stood out as the single most significant year for oceanfront sales with a total of $416.3 million in sales volume and the average sales price surging up 52%. The 2022 average sales price was $7.71 million which is the second highest recorded and only down 7.38% from the 2021 record high average sales price of $8.32 million.
Island-Wide Sales Charts
Interactive Sales Map
Experience with oceanfront home sales
Dano Sayles and The Sayles Team has extensive experience representing clients with the sale of their oceanfront home. Below are highlights of our sales achievements.
Active Listing
Hale Palauea | $39,500,000
“Your team continues to push forward showing more and more featurs of how special the property is. We are glad we choose your company and appreciate how you present our property. You're not just any other Realtor.“
- Dwayne and Sharon
Sold 2022-04-04
477 Laulea Place | $10,000,000
Sold 2021-11-26
30 Hui Road E | $11,650,000
“The Dano Sayles team did an incredible job. Top flight professionalism! Represented the house and our interests perfectly. They were extremely communicative, upfront and managed the entire sales process with great skill. Made the entire transaction as seamless as possible. Did an exceptional job getting the transaction over the finish line!“
– Glenn Doshay