3543 Lower Honoapiilani Rd Unit C-407 · Napili-Honokowai, HI 96761

$5,000

1 bd · 1.0 ba · 851 sqft · Condo public records · 308 Days on market

Built 1974 $6/sqft · 52% below area $220/mo HOA · 7% of rent

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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
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

Papakea Time Interval C-407 is a top floor 1 bed 1 bath plus loft unit located in beautiful Papakea. Unit features granite countertops, tiled flooring, W/D and a split a/c system that provides cooling of the entire condo. Enjoy all that Papakea has to offer from August 1 to August 15 in 2026. 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 BBQs, two covered clubhouses that are available for entertaining your guests, two large jacuzzis, two putting greens, and on site security make this vacation destination a highly sought after place. Lush tropical landscaping and Koi fish ponds are trademarks of Papakea. Located just north of the famous Kaanapali Beach Papakea is close to shopping, beaches, and restaurants. The loft 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 Papakea Association. Further investigation is pending by the AOAO. There will be a special assessment of approx. $1,000 per week in the future. The plumbing project has been completed in this unit. Buyer to do own diligence and to request further information from the AOAO.

Key facts

• Tiled flooring
• Split a/c system
• Granite countertops

Tags

• GRANITE COUNTERTOPS
• TILED FLOORING
• SPLIT A/C SYSTEM
• TWO SPACIOUS POOL AREAS
• TWO COVERED CLUBHOUSES
• TWO LARGE JACUZZIS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $5k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $5k).
• Recommended offer: $4k (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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 36% 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 $35 of loan paydown is wiped out by about $150 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 $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 308 days — a 12% lower offer ($4k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $669/mo.
• Climate carrying-cost: in FEMA flood zone VE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $4,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 308 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 1974 — 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 60.41% ✓
• Cap rate: 517.93%
• Cash-on-cash: 1827.28%
• DSCR: 82.30
• GRM: 0.1

CMA / ARV

• ARV (median comp): $10,395
• List price: $5,000
• Delta: -51.90%
• Verdict: UNDERPRICED
• 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: 69.52×
• Total profit: $95,926
• Equity at exit: $746

10-year hold

• IRR: —
• Equity multiple: 156.97×
• Total profit: $218,362
• Equity at exit: $432

Cash invested: $1,400 (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: 0.1×

Monthly cashflow live

• Estimated rent: $3,021 high
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$220
• Vacancy / Maint / Mgmt: −$634
• Net cashflow: $1,463

Break-even live

Break-even rent $1,169

Max offer price $5,000

Occupancy floor 47%

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

Rent comps 8 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	0.15mi
3626 Lower Honoapiilani Rd Lahaina, HI	2.0	1.0	620	$2,650	$4.27	1d	16	0.30mi
3676 Lower Honoapiilani Rd Unit D102 Lahaina, HI	2.0	1.0	658	$2,700	$4.10	17d	1	0.37mi
3702 Lower Honoapiilani Rd Unit A-33 Lahaina, HI	1.0	1.0	607	$2,700	$4.45	43d	1	0.40mi
3740 Lower Honoapiilani Rd Lahaina, HI	1.0	1.0	476	$2,500	$5.25	3d	2	0.50mi
3740 Lower Honoapiilani Rd Lahaina, HI	1.0	1.0	476	$2,500	$5.25	3d	2	0.50mi
3788 Lower Honoapiilani Rd Unit C102 Lahaina, HI	2.0	2.0	1122	$3,750	$3.34	43d	1	0.58mi
2348 Aina Mahiai Pl Lahaina, HI	2.0	2.0	1015	$7,500	$7.39	43d	1	1.23mi

HOA detail condo

• Monthly dues: $220 · $2,640/yr
• Likely covers: landscapingpoolsecurity
• ⚠ Special-assessment mentions:

  …by the County of Maui or the Papakea Association. Further investigation is pending by the AOAO. There will be a special assessment of approx. $1,000 per week in the future. The plumbing project has been completed in this unit. Buyer to do own…

Listing history 32 events

1. 2026-06-18
   days on market $5,000 Active 308 DOM
2. 2026-06-17
   days on market $5,000 Active 307 DOM
3. 2026-06-15
   days on market $5,000 Active 305 DOM
4. 2026-06-13
   days on market $5,000 Active 303 DOM
5. 2026-06-13
   days on market $5,000 Active 302 DOM
6. 2026-06-10
   days on market $5,000 Active 300 DOM
7. 2026-06-09
   days on market $5,000 Active 299 DOM
8. 2026-06-08
   days on market $5,000 Active 298 DOM
9. 2026-06-07
   days on market $5,000 Active 297 DOM
10. 2026-06-05
    days on market $5,000 Active 294 DOM
11. 2026-06-03
    days on market $5,000 Active 293 DOM
12. 2026-06-02
    days on market $5,000 Active 292 DOM
13. 2026-06-01
    days on market $5,000 Active 291 DOM
14. 2026-05-31
    days on market $5,000 Active 290 DOM
15. 2025-08-14
    listed $5,000 Active 1298-char remark

    Show marketing remark (1298 chars)

    Papakea Time Interval C-407 is a top floor 1 bed 1 bath plus loft unit located in beautiful Papakea. Unit features granite countertops, tiled flooring, W/D and a split a/c system that provides cooling of the entire condo. Enjoy all that Papakea has to offer from August 1 to August 15 in 2026. 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 BBQs, two covered clubhouses that are available for entertaining your guests, two large jacuzzis, two putting greens, and on site security make this vacation destination a highly sought after place. Lush tropical landscaping and Koi fish ponds are trademarks of Papakea. Located just north of the famous Kaanapali Beach Papakea is close to shopping, beaches, and restaurants. The loft 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 Papakea Association. Further investigation is pending by the AOAO. There will be a special assessment of approx. $1,000 per week in the future. The plumbing project has been completed in this unit. Buyer to do own diligence and to request further information from the AOAO.

16. 2017-04-13
    soldstatus $12,000 19-char remark

    Show marketing remark (19 chars)

    Sold before listed.

17. 2016-10-01
    listed $12,000 19-char remark

    Show marketing remark (19 chars)

    Sold before listed.

18. 2015-01-01
    historical
19. 2014-08-27
    listed $10,000
20. 2012-07-10
    historical
21. 2012-04-20
    soldstatus $2,000
22. 2012-04-20
    listed $2,000
23. 2012-01-19
    listed $9,000
24. 2011-09-14
    soldstatus $118,899
25. 2007-12-02
    historical
26. 2006-06-12
    listed $8,000
27. 2005-04-15
    soldstatus $21,000
28. 1998-11-10
    soldstatus $6,700
29. 1988-11-17
    soldstatus $3,950,000
30. 1985-08-28
    soldstatus $130,000
31. 1985-08-28
    soldstatus $130,000
32. 1979-09-01
    soldstatus $185,000

ⓘ 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 9/10 Extreme FEMA zone VE · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $36,249
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$8,053
• − Repairs & maintenance: −$2,900
• − Management: −$2,900
• − HOA: −$2,640
• − Depreciation: −$145
• Taxable income: $19,255
• Est. tax owed @ 24.0%: −$4,621
• After-tax cash flow: $12,933/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

-97.3% since first listed

18 events — show timeline

• 2025-08-14 Listed $5,000 RAM MLS
• 2017-04-13 Sold (MLS) $12,000 RAM MLS
• 2016-10-01 Listed $12,000 RAM MLS
• 2015-01-01 Listing Removed — RAM MLS
• 2014-08-27 Listed $10,000 RAM MLS
• 2012-07-10 Listing Removed — RAM MLS
• 2012-04-20 Listed $2,000 RAM MLS
• 2012-04-20 Sold (MLS) $2,000 RAM MLS
• 2012-01-19 Listed $9,000 RAM MLS
• 2011-09-14 Sold (Public Records) $118,899 Public Records
• 2007-12-02 Listing Removed — RAM MLS
• 2006-06-12 Listed $8,000 RAM MLS
• 2005-04-15 Sold (Public Records) $21,000 Public Records
• 1998-11-10 Sold (Public Records) $6,700 Public Records
• 1988-11-17 Sold (Public Records) $3,950,000 Public Records
• 1985-08-28 Sold (Public Records) $130,000 Public Records
• 1985-08-28 Sold (Public Records) $130,000 Public Records
• 1979-09-01 Sold (Public Records) $185,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $14,640 · -10.5% YoY. Source: county tax records.