2481 Kaanapali Pkwy Unit 1120 V · Kaanapali, HI 96761

$40,000

1 bd · 1.0 ba · 901 sqft · Condo public records · 12 Days on market

Built 1975 Est $39k · at est. $379/mo HOA · 11% 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 +6.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.2/10.0

Listing remarks MLS

1120E: FEBRUARY 21 - MARCH 7: Whaler 1120 is located high on the north side of Tower 1 with a BIG view and plenty of privacy. The 1BD/1BA floorplans offers a generous vanity area and the convenience of a washer/dryer in the property makes it really feel like home. Listor is Seller.

Key facts

• Fitness center
• Pickleball courts
• Landscaped grounds

Tags

• PRIVATE LANAI
• OCEANFRONT SWIMMING POOL
• TENNIS COURTS
• PICKLEBALL COURTS
• FITNESS CENTER
• LANDSCAPED GROUNDS

Property features AI

Finance

• Other: Zoned H-2 (Hotel District)
• Financial info: Leasehold; short term lease
• HOA & community: Annual association fee; Association fee: $4,548 per year

Exterior

• Utilities: Underground electric; Public sewer; Phone connected; Cable connected; Private water
• Home design: Residential income property; High-rise (4+ stories); Whaler I building; Effective renovation 2013; Built in 1975
• Construction: Concrete construction; Basement foundation
• Exterior features: Barbecue; Tennis court(s); In-ground pool; Spa / hot tub; Ocean view; Beachfront

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Flooring: Carpet; Tile
• Bathrooms: 1 bathroom
• Heating & cooling: Central air conditioning
• Interior features: Ceiling fan(s); Drapes; Furnished; TV cable; Exercise room; Sauna; Finished full basement
• Laundry & utility: Washer; Dryer; Community laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $40k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $40k).

Location & tenants

• Location reads 72/100 on livability (#19 in HI) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, commute B+; Watch: health & safety C-, amenities F, cost of living F.
• 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.
• Zoned schools: King Kamehameha Iii Elementary School (math 41% / reading 51%, grade D-, #68 of 183 statewide, top 37%, 607 students, 40% FRL); Lahaina Intermediate School (math 19% / reading 42%, grade F, #27 of 42 statewide, top 63%, 647 students, 51% FRL); Lahainaluna High School (math 12% / reading 57%, grade F, #30 of 43 statewide, top 76%, 1,037 students, 46% FRL).
• Market conditions: Rents rising (+4.0%/yr); 640 active listings in the ZIP; solid renter incomes; 906 units permitted in Maui County in 2024 (289 in 5+ unit buildings).
• This rent runs 41% 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 $277 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 20 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

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $40,000

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 8.55% ✓
• Cap rate: 67.65%
• Cash-on-cash: 219.15%
• DSCR: 10.75
• GRM: 1.0

CMA / ARV

• ARV (on-the-fly): $38,743
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2481 Kaanapali Pkwy Unit 808 I	0.02mi	1/2.0	905 (+0%)	12mo	$38,500	$43	84

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 12.38×
• Total profit: $127,441
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 27.25×
• Total profit: $293,972
• Equity at exit: $3,458

Cash invested: $11,200 (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: 640
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $3,419 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$379
• Vacancy / Maint / Mgmt: −$718
• Net cashflow: $2,045

Break-even live

Break-even rent $830

Max offer price $40,000

Occupancy floor 35%

Sensitivity live

Price	-10% $2,073	-5% $2,059	+0% $2,045	+5% $2,032	+10% $2,018
Rent	-10% $1,775	-5% $1,910	+0% $2,045	+5% $2,180	+10% $2,315
Rate	-1.0pp $2,066	-0.5pp $2,056	base $2,045	+0.5pp $2,035	+1.0pp $2,024

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $379 · $4,548/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   days on market $40,000 Active 12 DOM
2. 2026-06-18
   days on market $40,000 Active 9 DOM
3. 2026-06-17
   days on market $40,000 Active 8 DOM
4. 2026-06-16
   days on market $40,000 Active 7 DOM
5. 2026-06-15
   days on market $40,000 Active 6 DOM
6. 2026-06-13
   days on market $40,000 Active 4 DOM
7. 2026-06-13
   pricedays on marketlisting id $40,000 Active 3 DOM
8. 2026-06-10
   pricedays on marketlisting id $80,000 Active 1 DOM
9. 2026-06-09
   days on market $74,800 Active 564 DOM

   Show marketing remark (1625 chars)

   Whaler 1120 U -Experience the beauty of Kaanapali from this  a one-bedroom, one-bath interval ownership opportunity ideally situated on the north side of Tower I. Enjoy breathtaking ocean views overlooking world-famous Black Rock, with panoramic vistas extending across Kaanapali Beach and toward the island of Molokai This beautifully appointed residence offers all the comforts of home, featuring a spacious kitchen with granite countertops, stainless steel appliances, an in-room washer and dryer, and a convenient storage cubby for your personal items. Both the living room and bedroom open directly to a private lanai, creating the perfect setting to relax and take in Maui’s spectacular sunsets and ocean breezes. Owners enjoy access to The Whaler’s exceptional resort amenities, including oceanfront swimming pool and jacuzzi, tennis and pickleball courts, fitness center, beautifully landscaped grounds, and direct beach access. Located in the heart of Kaanapali, The Whaler sits adjacent to Whalers Village, offering more than 100 shops, restaurants, and entertainment options. Stroll the scenic oceanfront boardwalk, explore nearby snorkeling and diving spots, or simply enjoy the world-class beach right outside your door This interval ownership provides annual occupancy from October 3 through October 17 every year in unit 1120. For those seeking an extended stay, the consecutive V interval is also available, offering occupancy from October 17 through October 31. Don’t miss this rare opportunity to own your piece of paradise at one of Maui’s most sought-after beachfront resorts.

10. 2026-06-08
    days on market $74,800 Active 563 DOM
11. 2026-06-07
    days on market $74,800 Active 562 DOM
12. 2026-06-05
    days on market $74,800 Active 559 DOM
13. 2026-06-03
    days on market $74,800 Active 558 DOM
14. 2026-06-02
    days on market $74,800 Active 557 DOM
15. 2026-06-01
    days on market $74,800 Active 556 DOM
16. 2026-05-31
    days on market $74,800 Active 555 DOM
17. 2026-04-16
    historical

    Show marketing remark (282 chars)

    1120E: FEBRUARY 21 - MARCH 7: Whaler 1120 is located high on the north side of Tower 1 with a BIG view and plenty of privacy. The 1BD/1BA floorplans offers a generous vanity area and the convenience of a washer/dryer in the property makes it really feel like home. Listor is Seller.

18. 2026-04-06
    status Active

    Show marketing remark (282 chars)

    1120E: FEBRUARY 21 - MARCH 7: Whaler 1120 is located high on the north side of Tower 1 with a BIG view and plenty of privacy. The 1BD/1BA floorplans offers a generous vanity area and the convenience of a washer/dryer in the property makes it really feel like home. Listor is Seller.

19. 2026-03-19
    status Pending - Do not Show

    Show marketing remark (282 chars)

    1120E: FEBRUARY 21 - MARCH 7: Whaler 1120 is located high on the north side of Tower 1 with a BIG view and plenty of privacy. The 1BD/1BA floorplans offers a generous vanity area and the convenience of a washer/dryer in the property makes it really feel like home. Listor is Seller.

20. 2026-01-13
    soldstatus $91,800 Sold 406-char remark
21. 2025-12-01
    historical Pending - Continue to Show 406-char remark
22. 2025-11-26
    listed $95,000 Active 406-char remark
23. 2025-11-23
    historical
24. 2025-10-22
    price $74,800
25. 2025-07-31
    price $78,300
26. 2025-07-01
    listed $110,000 Active
27. 2025-06-17
    price $99,000

    Show marketing remark (282 chars)

    1120E: FEBRUARY 21 - MARCH 7: Whaler 1120 is located high on the north side of Tower 1 with a BIG view and plenty of privacy. The 1BD/1BA floorplans offers a generous vanity area and the convenience of a washer/dryer in the property makes it really feel like home. Listor is Seller.

28. 2025-02-22
    price $105,000

    Show marketing remark (282 chars)

    1120E: FEBRUARY 21 - MARCH 7: Whaler 1120 is located high on the north side of Tower 1 with a BIG view and plenty of privacy. The 1BD/1BA floorplans offers a generous vanity area and the convenience of a washer/dryer in the property makes it really feel like home. Listor is Seller.

29. 2025-01-20
    listed $110,000 Active

    Show marketing remark (282 chars)

    1120E: FEBRUARY 21 - MARCH 7: Whaler 1120 is located high on the north side of Tower 1 with a BIG view and plenty of privacy. The 1BD/1BA floorplans offers a generous vanity area and the convenience of a washer/dryer in the property makes it really feel like home. Listor is Seller.

30. 2024-11-22
    listed $83,500 Active
31. 2024-06-13
    soldstatus $50,000 Sold
32. 2024-05-06
    historical Pending - Continue to Show
33. 2024-05-01
    listed $57,500 Active
34. 2024-02-28
    soldstatus $110,000 Sold
35. 2024-02-15
    soldstatus $100,000 Sold
36. 2024-02-15
    soldstatus $100,000 Sold
37. 2024-01-15
    historical Pending - Continue to Show
38. 2024-01-02
    historical Pending - Continue to Show
39. 2023-12-30
    historical Pending - Continue to Show
40. 2023-12-29
    listed $110,000 Active
41. 2023-12-29
    listed $110,000 Active
42. 2023-12-29
    listed $110,000 Active
43. 2022-09-20
    soldstatus $31,940 Sold
44. 2022-03-07
    historical Pending - Continue to Show
45. 2022-02-10
    listed $32,000 Active
46. 2021-08-19
    soldstatus $25,500 Sold
47. 2021-04-06
    listed $27,000 Active
48. 2018-08-30
    soldstatus $16,000 Sold
49. 2018-07-16
    status Pending - Do not Show
50. 2018-04-10
    status Active

ⓘ 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 X (unshaded) · 72% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $41,025
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$3,282
• − Management: −$3,282
• − HOA: −$4,548
• − Depreciation: −$1,164
• Taxable income: $25,708
• Est. tax owed @ 24.0%: −$6,170
• After-tax cash flow: $18,374/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 — Kaanapali

• Score: 72/100
• State rank: #19
• US rank: #6248

Category grades

Amenities F Commute B+ Cost of living F Crime A+ Employment A+ Housing C+ Health & safety C- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kaanapali, 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

-92.6% since first listed

59 events — show timeline

• 2026-06-11 Relisted — RAM MLS
• 2026-06-09 Listed $40,000 RAM MLS
• 2026-06-09 Listed $80,000 RAM MLS
• 2026-04-16 Listing Removed — RAM MLS
• 2026-04-06 Relisted — RAM MLS
• 2026-03-19 Pending — RAM MLS
• 2026-01-13 Sold (MLS) $91,800 RAM MLS
• 2025-12-01 Contingent — RAM MLS
• 2025-11-26 Listed $95,000 RAM MLS
• 2025-11-23 Listing Removed — RAM MLS
• 2025-10-22 Price Changed $74,800 RAM MLS
• 2025-07-31 Price Changed $78,300 RAM MLS
• 2025-07-01 Listed $110,000 RAM MLS
• 2025-06-17 Price Changed $99,000 RAM MLS
• 2025-02-22 Price Changed $105,000 RAM MLS
• 2025-01-20 Listed $110,000 RAM MLS
• 2024-11-22 Listed $83,500 RAM MLS
• 2024-06-13 Sold (MLS) $50,000 RAM MLS
• 2024-05-06 Contingent — RAM MLS
• 2024-05-01 Listed $57,500 RAM MLS
• 2024-02-28 Sold (MLS) $110,000 RAM MLS
• 2024-02-15 Sold (MLS) $100,000 RAM MLS
• 2024-02-15 Sold (MLS) $100,000 RAM MLS
• 2024-01-15 Contingent — RAM MLS
• 2024-01-02 Contingent — RAM MLS
• 2023-12-30 Contingent — RAM MLS
• 2023-12-29 Listed $110,000 RAM MLS
• 2023-12-29 Listed $110,000 RAM MLS
• 2023-12-29 Listed $110,000 RAM MLS
• 2022-09-20 Sold (MLS) $31,940 RAM MLS
• 2022-03-07 Contingent — RAM MLS
• 2022-02-10 Listed $32,000 RAM MLS
• 2021-08-19 Sold (MLS) $25,500 RAM MLS
• 2021-04-06 Listed $27,000 RAM MLS
• 2018-08-30 Sold (MLS) $16,000 RAM MLS
• 2018-07-16 Pending — RAM MLS
• 2018-04-10 Relisted — RAM MLS
• 2018-03-27 Listing Removed — RAM MLS
• 2017-11-21 Price Changed $19,000 RAM MLS
• 2017-09-28 Listed $22,000 RAM MLS
• 2015-06-14 Sold (MLS) $12,000 RAM MLS
• 2015-04-22 Contingent — RAM MLS
• 2015-04-11 Price Changed $15,000 RAM MLS
• 2015-04-03 Listed $23,000 RAM MLS
• 2014-03-12 Listing Removed — RAM MLS
• 2012-12-05 Listed $49,500 RAM MLS
• 2012-07-13 Listing Removed — RAM MLS
• 2012-03-13 Listed $53,500 RAM MLS
• 2009-04-13 Listing Removed — RAM MLS
• 2008-04-28 Sold (Public Records) $24,600 Public Records
• 2007-09-05 Sold (Public Records) $24,600 Public Records
• 2006-08-14 Listed $35,000 RAM MLS
• 2000-04-03 Sold (Public Records) $30,000 Public Records
• 2000-03-02 Sold (Public Records) $59,000 Public Records
• 1999-08-26 Sold (Public Records) $23,000 Public Records
• 1998-08-13 Sold (Public Records) $20,700 Public Records
• 1998-03-03 Sold (Public Records) $53,000 Public Records
• 1997-10-01 Sold (Public Records) $23,000 Public Records
• 1990-12-28 Sold (Public Records) $537,900 Public Records

Property tax history

+8.4%/yr

Latest (2025): $26,563 · +3.8% YoY. Source: county tax records.