If you’re looking to buy an existing home within the jurisdiction of the Coastal Commission, you won’t have have any problems. Unless you were planning to tear down and rebuild. If you buy a vacant lot and hope to develop, it just means that you’d have to get approval from the Coastal Commission.
If the Malibu Local Coastal Program isn’t yet approved by the Coastal Commission then any projects go to a Coastal Commission hearing, if the Local Coastal Program is approved then the City has the authority to hand out Coastal Development Permits.