3543 Lower Honoapiilani Rd Unit B-404 13AB · Napili-Honokowai, HI 96761

$12,000

1 bd · 1.0 ba · 851 sqft · Timeshare · 147 Days on market

Built 1977 12 ac lot $14/sqft · 15% above area Est $10k · 15% over $466/mo HOA · 16% of rent ↓ 20% since listing

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.7/10.0
• Rent growth +3.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.2/10.0
• ARV discount +0.6/15.0

Listing remarks MLS

Very desirable and sought-after top floor 1 bed 1 bath plus a 254 sq. ft. loft Papakea Time Interval unit. Upgrades include tile flooring, granite kitchen counter tops, split Mitsubishi AC with 3 units and bath feature walk-in showers with granite countertops. This unit usage in 2026 from June 20 to July 4 and June 19 to July 3 in 2027. The annual maintenance fees include property taxes, grounds, building and unit maintenance, reserve fund, and housekeeping. One of Maui's popular vacation spots, Papakea is well known for the many amenities that are available to owners and visitors that include two separate spacious pool areas with B B Q's, two covered clubhouses that are available for entertaining your guest. two large hot tubs, two putting greens and on-site security make this a vacation destination sought out by many. Lush tropical landscaping and Koi ponds are trademarks at Papakea. Located just north of the famous Kaanapali Beach Resort, Papakea is close to shopping, beaches and restaurants. The lofts may not be permitted or in compliance with current building codes and may be subject to removal, remediation and/or for use only for storage by the County of Maui or the Association of Apartment Owners of Papakea (“AOAO”). Papakea is currently undergoing a plumbing project.

Key facts

• Split mitsubishi ac
• Tile flooring
• Walk-in showers

Tags

• TOP FLOOR
• TILE FLOORING
• GRANITE KITCHEN COUNTER TOPS
• SPLIT MITSUBISHI AC
• WALK-IN SHOWERS
• TWO COVERED CLUBHOUSES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath timeshare listed at $12k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $12k).
• Recommended offer: $11k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Hawaii Department Of Education (suburban): math 32% / reading 50% proficiency, ranked #1 of 1 in HI (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+4.0%/yr); 637 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 906 units permitted in Maui County in 2024 (289 in 5+ unit buildings).
• This rent runs 35% of the median local income ($101k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $83 of loan paydown is wiped out by about $360 of value loss. Plan a longer hold.
• Maui County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($11k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $10,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 24.86% ✓
• Cap rate: 187.05%
• Cash-on-cash: 645.56%
• DSCR: 29.72
• GRM: 0.3

CMA / ARV

• ARV (median comp): $10,395
• List price: $12,000
• Delta: 15.44%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.97% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 27.65×
• Total profit: $89,547
• Equity at exit: $1,789

10-year hold

• IRR: —
• Equity multiple: 62.29×
• Total profit: $205,949
• Equity at exit: $1,038

Cash invested: $3,360 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 37 Tenant-Leaning
• State Hawaii: 37 Tenant-Leaning · D+13
• County: — inherits STATE
• City: — inherits STATE

Honolulu has source-of-income protections; warranty of habitability strong.

Methodology + full state rankings →

ZIP-level market 96761

• Home prices YoY: -1.9%
• Rents YoY: 4.0%
• Active inventory: 637
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $2,983 high
• Mortgage (P&I): −$63
• Tax est. 1.5%: −$15 /mo · $180/yr
• Insurance: −$5
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$466
• Vacancy / Maint / Mgmt: −$626
• Net cashflow: $1,381

Break-even live

Break-even rent $1,235

Max offer price $12,000

Occupancy floor 49%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $3,000
• Closing costs: $360
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3559 Lower Honoapiilani Rd Lahaina, HI	1.0	1.0	562	$2,600	$4.63	23d	1	0.04mi
3626 Lower Honoapiilani Rd Lahaina, HI	2.0	1.0	620	$2,650	$4.27	1d	16	0.15mi
3676 Lower Honoapiilani Rd Unit D102 Lahaina, HI	2.0	1.0	658	$2,700	$4.10	17d	1	0.24mi
3702 Lower Honoapiilani Rd Unit A-33 Lahaina, HI	1.0	1.0	607	$2,700	$4.45	43d	1	0.28mi
3740 Lower Honoapiilani Rd Lahaina, HI	1.0	1.0	476	$2,500	$5.25	3d	2	0.37mi
3740 Lower Honoapiilani Rd Lahaina, HI	1.0	1.0	476	$2,500	$5.25	2d	2	0.37mi
3788 Lower Honoapiilani Rd Unit C102 Lahaina, HI	2.0	2.0	1122	$3,750	$3.34	43d	1	0.45mi
2348 Aina Mahiai Pl Lahaina, HI	2.0	2.0	1015	$7,500	$7.39	43d	1	1.18mi
4365 Lower Honoapiilani Rd Lahaina, HI	1.0	1.0	800	$4,600	$5.75	11d	1	1.47mi
27 Jillian Ln #631 Lahaina, HI	2.0	2.0	780	$3,550	$4.55	14d	1	1.48mi

HOA detail

• Monthly dues: $466 · $5,592/yr
• Likely covers: landscapingpoolsecurity

Listing history 17 events

1. 2026-06-18
   days on market $12,000 Active 147 DOM
2. 2026-06-17
   days on market $12,000 Active 146 DOM
3. 2026-06-16
   days on market $12,000 Active 145 DOM
4. 2026-06-15
   days on market $12,000 Active 144 DOM
5. 2026-06-13
   days on market $12,000 Active 142 DOM
6. 2026-06-13
   days on market $12,000 Active 141 DOM
7. 2026-06-10
   days on market $12,000 Active 139 DOM
8. 2026-06-09
   days on market $12,000 Active 138 DOM
9. 2026-06-08
   days on market $12,000 Active 137 DOM
10. 2026-06-07
    days on market $12,000 Active 136 DOM
11. 2026-06-05
    days on market $12,000 Active 133 DOM
12. 2026-06-03
    days on market $12,000 Active 132 DOM
13. 2026-06-02
    days on market $12,000 Active 131 DOM
14. 2026-06-01
    days on market $12,000 Active 130 DOM
15. 2026-05-31
    days on market $12,000 Active 129 DOM
16. 2026-05-12
    price $12,000 1307-char remark

    Show marketing remark (1307 chars)

    Very desirable and sought-after top floor 1 bed 1 bath plus a 254 sq. ft. loft Papakea Time Interval unit. Upgrades include tile flooring, granite kitchen counter tops, split Mitsubishi AC with 3 units and bath feature walk-in showers with granite countertops. This unit usage in 2026 from June 20 to July 4 and June 19 to July 3 in 2027. The annual maintenance fees include property taxes, grounds, building and unit maintenance, reserve fund, and housekeeping. One of Maui's popular vacation spots, Papakea is well known for the many amenities that are available to owners and visitors that include two separate spacious pool areas with B B Q's, two covered clubhouses that are available for entertaining your guest. two large hot tubs, two putting greens and on-site security make this a vacation destination sought out by many. Lush tropical landscaping and Koi ponds are trademarks at Papakea. Located just north of the famous Kaanapali Beach Resort, Papakea is close to shopping, beaches and restaurants. The lofts may not be permitted or in compliance with current building codes and may be subject to removal, remediation and/or for use only for storage by the County of Maui or the Association of Apartment Owners of Papakea (“AOAO”). Papakea is currently undergoing a plumbing project.

17. 2026-01-22
    listed $15,000 Active 1307-char remark

    Show marketing remark (1307 chars)

    Very desirable and sought-after top floor 1 bed 1 bath plus a 254 sq. ft. loft Papakea Time Interval unit. Upgrades include tile flooring, granite kitchen counter tops, split Mitsubishi AC with 3 units and bath feature walk-in showers with granite countertops. This unit usage in 2026 from June 20 to July 4 and June 19 to July 3 in 2027. The annual maintenance fees include property taxes, grounds, building and unit maintenance, reserve fund, and housekeeping. One of Maui's popular vacation spots, Papakea is well known for the many amenities that are available to owners and visitors that include two separate spacious pool areas with B B Q's, two covered clubhouses that are available for entertaining your guest. two large hot tubs, two putting greens and on-site security make this a vacation destination sought out by many. Lush tropical landscaping and Koi ponds are trademarks at Papakea. Located just north of the famous Kaanapali Beach Resort, Papakea is close to shopping, beaches and restaurants. The lofts may not be permitted or in compliance with current building codes and may be subject to removal, remediation and/or for use only for storage by the County of Maui or the Association of Apartment Owners of Papakea (“AOAO”). Papakea is currently undergoing a plumbing project.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 70% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $35,795
• − Mortgage interest: −$672
• − Property taxes: −$180
• − Insurance: −$5,178
• − Repairs & maintenance: −$2,864
• − Management: −$2,864
• − HOA: −$5,592
• − Depreciation: −$349
• Taxable income: $18,096
• Est. tax owed @ 24.0%: −$4,343
• After-tax cash flow: $12,229/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hawaii Department Of Education
• NCES district ID: 1500030
• Math proficiency: 32% ▼ -10.00%
• Reading proficiency: 50% ▼ -3.00%
• Median HH income: $69,005
• Composite: 37.07/100
• National rank: #4504
• State rank: #1 of 1 in HI

Livability — Napili-Honokowai

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Napili-Honokowai, HI
• County: Maui County · 114,195 people
• Metro: Kahului-Wailuku-Lahaina, HI
• Population (ZIP): 20,952
• Household income: $101,123
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 835.0

Population outlook (Maui County) Hauer SSP2

• Today (2025): 185,013 people
• By 2030: 194,315 · +5.0%
• By 2040: 210,917 · +14.0%
• By 2050: 226,396 · +22.4%
• By 2075: 270,475 · +46.2%
• By 2100: 316,825 · +71.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.78)
• Race & ethnicity: White 35% Asian 29% Two or more races 25% Hispanic / Latino 13% Pacific Islander 6%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Russian 3% Lithuanian 2% Iranian 1%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 74% English-only · Other Asian/Pacific 12% Tagalog/Filipino 6% Spanish 5%

Political lean MEDSL · Maui

• 2024 margin: Strong D (+25.9) · D 61.9% · R 36.0% · Other 2.2%
• 2008→2024 swing: -29.3pp toward R · 2008: 55.2pp · 2024: 25.9pp
• All cycles: 2024: D+25.9 2020: D+35.5 2016: D+38.6 2012: D+50.3 2008: D+55.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.68%
• Current HPI: 389.2894
• Rent YoY: ▲ 3.97%
• Metro: Kahului-Wailuku-Lahaina, HI
• State GDP YoY: —
• F500 in state: 0

Price history

-20.0% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $12,000 RAM MLS
• 2026-01-22 Listed $15,000 RAM MLS