Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Makena Oceanfront Homesite Opportunity Title is generated by Realmo AI

    5147 Makena Rd #5, Kihei, HI 96753

    View on Map
    Claim this Listing
    For Sale
    $3,950,000

    Oceanfront homesite with direct access to South Maui waters.

    Type:Land or Vacant Lot
    Lot size:
    0.50 Acres
    Added:
    Dec 11, 2025
    Days on Market:
    175
    Last Refresh:
    Apr 5 at 9:31 pm

    Property Features for 5147 Makena Rd #5

    General Information

    Standard status
    Active
    Lot size
    0.50 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    JOSH JERMAN RB-19728

    Listing agent JOSH JERMAN RB-19728

    Listing office HAWAII LIFE (W)

    Listing date Dec 11, 2025

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of HAWAII LIFE (W)

    HighLights

    • Direct coastline views of the ocean, Molokini Crater, and Kaho’olawe.
    • Immediate access to South Maui’s waters for water sports.
    • One of the last homesites of its kind in Makena.
    • Nearly half‑acre property.
    • 5‑minute drive to world‑class dining.
    • 5‑minute drive to championship golf and scenic hiking trails.

    Overview

    This nearly half-acre property offers direct coastline views and immediate access to South Maui’s waters. It is located in Makena, offering views of the ocean, Molokini Crater, and Kaho’olawe. The location is suited for water sports, including paddle-boarding, kayaking, snorkeling, and diving. The property is a short drive from dining, golf, and hiking trails. It is one of the last homesites of its kind in Makena.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Kihei
    County
    Maui
    State
    Hawaii
    Longitude
    -156.4411083
    Latitude
    20.6545415

    Nearby Similar for Sale

    • $420,000
      1,036 SF

      Kihei Commercial Plaza Retail Space

      Ground-floor commercial condo in Kihei's light industrial corridor.
      320 Ohukai St, Kihei, HI 96753
      View Details
    • $3,295,000
      3,214 SF

      Kihei Vacant Land For Sale

      B-2 Business Zoned property on South Kihei Road.
      1746-a S Kihei Rd, Kihei, HI 96753
      View Details
    • $699,000
      575 SF

      Kihei Commercial Plaza Unit

      Versatile retail, warehouse, and office space in Kihei.
      300 Ohukai Rd, Kihei, HI 96753
      View Details
    • $3,295,000
      2,176 SF

      Kihei Commercial Property For Sale

      Business-zoned property with retail building, garage, and greenhouse.
      1746-a S Kihei Rd, Kihei, HI 96753
      View Details
    • $699,000
      1,332 SF

      Kihei Commercial Center Condo

      Versatile commercial condo in Kihei Commercial Center.
      300 Ohukai Rd, Kihei, HI 96753
      View Details
    • $1,349,000
      3,100 SF

      Wailea Vacant Land with Approved Plans

      Vacant lot with approved plans for custom home and pool.
      3381 E Lani Ikena Way, Kihei, HI 96753
      View Details
    • $1,199,000
      1,901 SF

      Kihei Live/Work Mixed-Use Residence

      Rare mixed-use property in Kai Ani Village, Kihei.
      1367 S Kihei Rd, Kihei, HI 96753
      View Details
    • $100,000

      Maui BBQ Grills Business

      Kihei business specializing in high-end outdoor appliances and kitchens.
      300 Ohukai Rd, Kihei, HI 96753
      View Details
    • $450,000
      2,000 SF

      Kihei Commercial Condo For Sale

      Upgraded commercial condo in Kihei Commercial Plaza with ample storage.
      340 Ohukai Rd, Kihei, HI 96753
      View Details
    • $3,500,000

      Makena Vacant Lot Opportunity

      Exceptional vacant lot near Makena Beach to create your Maui Estate.
      Makena Rd, Kihei, HI 96753
      View Details
    • $920,000

      Kihei Vacant Land Opportunity

      Expansive lot in gated community, ideal for custom island home.
      3376 E Lani Ikena Way, Kihei, HI 96753
      View Details
    • $799,000

      Maui Meadows Vacant Land Opportunity

      Expansive lot with ocean and mountain views in Kihei.
      3267 Akala Dr, Kihei, HI 96753
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Oceanfront homesite with direct access to South Maui waters.
    Where is this waterfront land located?
    The property is located at 5147 Makena Rd #5 Kihei, HI.
    What is the asking price?
    The asking price for this property is $3,950,000.
    What are key features of this property?
    This property features: Direct coastline views of the ocean, Molokini Crater, and Kaho’olawe.; Immediate access to South Maui’s waters for water sports.; One of the last homesites of its kind in Makena.
    (800) 677-5028
    We can help!
    Listing Contact
    JOSH JERMAN RB-19728
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5147 Makena Rd #5, Kihei, HI 96753
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!