111 Kahului Beach Rd Unit C-409 · Kahului, HI 96732

$150,000

1 bd · 1.0 ba · 610 sqft · Condo public records · 279 Days on market

Built 1974 $246/sqft · 30% below area Est $214k · 30% under $670/mo HOA · 28% of rent

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Why this score? — see what drove the B- 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 +22.6/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +7.2/10.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Top-Floor Fee-Simple Treasure with Mountain Views! This charming one-bedroom, one-bath unit at Harbor Lights is perched on the top floor, offering stunning mountain views that you’ll love waking up to every day. Partially remodeled in 2025, it’s both fresh and functional. Nestled in the heart of Central Maui, you’ll be just minutes from everything you need and more. From shopping malls and grocery stores to medical facilities, a nearby university, the Maui Arts & Cultural Center, and even the beach – it’s all right there! Ideal for first-time buyers, investors, or anyone seeking a more simple retreat, Harbor Lights C-409 offers an opportunity to embrace a lifestyle of comfort, convenience, and community. Schedule a showing with your favorite Realtor today! Some photos have been virtually staged for illustrative purposes.

Key facts

• Partially remodeled
• Central maui
• Mountain views

Tags

• MOUNTAIN VIEWS
• PARTIALLY REMODELED
• CENTRAL MAUI

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-414 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $77k (48.8% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $77k (48.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 74/100 on livability (#17 in HI, #4,968 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: schools D+, 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.
• Market conditions: 62 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 906 units permitted in Maui County in 2024 (289 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 279 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $669/mo; HOA is 28% of rent.
• Climate carrying-cost: in FEMA flood zone VE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $76,788 (48.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 279 days. Have you received any prior offers? Is the seller open to a 49% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
10. 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.
11. 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.
12. 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: 1.57% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.27%
• DSCR: 1.32
• GRM: 5.3

CMA / ARV

• ARV (median comp): $213,896
• List price: $150,000
• Delta: -29.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -37.0%
• Equity multiple: -0.19×
• Total profit: $-49,904
• Equity at exit: $22,365

10-year hold

• IRR: -46.9%
• Equity multiple: -0.77×
• Total profit: $-74,201
• Equity at exit: $12,969

Cash invested: $42,000 (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 96732

• Home prices YoY: -4.7%
• Active inventory: 62
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,359 high
• Mortgage (P&I): −$787
• Tax from tax record: −$90 /mo · $1,076/yr
• Insurance: −$62
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$670
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $-414

Break-even live

Break-even rent $2,883

Max offer price $76,788

Occupancy floor —

Sensitivity live

Price	-10% $-330	-5% $-372	+0% $-414	+5% $-457	+10% $-499
Rent	-10% $-601	-5% $-508	+0% $-414	+5% $-321	+10% $-228
Rate	-1.0pp $-339	-0.5pp $-376	base $-414	+0.5pp $-453	+1.0pp $-493

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47 Nano St Kahului, HI	—	1.0	500	$1,600	$3.20	24d	1	0.49mi
47 Nano St Unit 3 Kahului, HI	2.0	1.0	500	$2,500	$5.00	45d	1	0.49mi
434 Aleo Pl Kahului, HI	2.0	1.0	600	$2,500	$4.17	45d	1	0.55mi
444 S Kamehameha Ave Unit CTG Kahului, HI	2.0	1.0	500	$2,300	$4.60	4d	1	0.77mi
509 Kainalu Pl Unit Studio Wailuku, HI	—	2.0	400	$2,475	$6.19	45d	1	1.01mi
529 Pio Dr Unit 2 Wailuku, HI	1.0	1.0	525	$1,650	$3.14	45d	1	1.03mi
493 Pio Dr #202 Wailuku, HI	1.0	1.0	586	$2,900	$4.95	24d	1	1.04mi
1371 Lower Main St Unit 8 Wailuku, HI	2.0	1.0	651	$2,850	$4.38	45d	1	1.18mi
1371 Lower Main St Apt 6 Wailuku, HI	1.0	1.0	651	$2,600	$3.99	18d	1	1.18mi
60 Kapi Ln Unit 15-201 1 Wailuku, HI	2.0	1.0	657	$2,800	$4.26	45d	1	1.29mi
694 Kaae Rd Wailuku, HI	1.0	1.0	540	$2,300	$4.26	24d	1	1.48mi

HOA detail condo

• Monthly dues: $670 · $8,040/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $150,000 Active 279 DOM
2. 2026-06-18
   days on market $150,000 Active 276 DOM
3. 2026-06-17
   days on market $150,000 Active 275 DOM
4. 2026-06-15
   days on market $150,000 Active 273 DOM
5. 2026-06-13
   days on market $150,000 Active 271 DOM
6. 2026-06-13
   days on market $150,000 Active 270 DOM
7. 2026-06-10
   days on market $150,000 Active 268 DOM
8. 2026-06-09
   days on market $150,000 Active 267 DOM
9. 2026-06-08
   days on market $150,000 Active 266 DOM
10. 2026-06-07
    days on market $150,000 Active 265 DOM
11. 2026-06-05
    days on market $150,000 Active 262 DOM
12. 2026-06-03
    days on market $150,000 Active 261 DOM
13. 2026-06-02
    days on market $150,000 Active 260 DOM
14. 2026-06-01
    days on market $150,000 Active 259 DOM
15. 2026-05-31
    days on market $150,000 Active 258 DOM
16. 2025-12-16
    price $150,000 868-char remark

    Show marketing remark (868 chars)

    Top-Floor Fee-Simple Treasure with Mountain Views! This charming one-bedroom, one-bath unit at Harbor Lights is perched on the top floor, offering stunning mountain views that you’ll love waking up to every day. Partially remodeled in 2025, it’s both fresh and functional. Nestled in the heart of Central Maui, you’ll be just minutes from everything you need and more. From shopping malls and grocery stores to medical facilities, a nearby university, the Maui Arts & Cultural Center, and even the beach – it’s all right there! Ideal for first-time buyers, investors, or anyone seeking a more simple retreat, Harbor Lights C-409 offers an opportunity to embrace a lifestyle of comfort, convenience, and community. Schedule a showing with your favorite Realtor today! Some photos have been virtually staged for illustrative purposes.

17. 2025-10-03
    price $165,000 868-char remark

    Show marketing remark (868 chars)

    Top-Floor Fee-Simple Treasure with Mountain Views! This charming one-bedroom, one-bath unit at Harbor Lights is perched on the top floor, offering stunning mountain views that you’ll love waking up to every day. Partially remodeled in 2025, it’s both fresh and functional. Nestled in the heart of Central Maui, you’ll be just minutes from everything you need and more. From shopping malls and grocery stores to medical facilities, a nearby university, the Maui Arts & Cultural Center, and even the beach – it’s all right there! Ideal for first-time buyers, investors, or anyone seeking a more simple retreat, Harbor Lights C-409 offers an opportunity to embrace a lifestyle of comfort, convenience, and community. Schedule a showing with your favorite Realtor today! Some photos have been virtually staged for illustrative purposes.

18. 2025-09-15
    listed $175,000 Active 868-char remark

    Show marketing remark (868 chars)

    Top-Floor Fee-Simple Treasure with Mountain Views! This charming one-bedroom, one-bath unit at Harbor Lights is perched on the top floor, offering stunning mountain views that you’ll love waking up to every day. Partially remodeled in 2025, it’s both fresh and functional. Nestled in the heart of Central Maui, you’ll be just minutes from everything you need and more. From shopping malls and grocery stores to medical facilities, a nearby university, the Maui Arts & Cultural Center, and even the beach – it’s all right there! Ideal for first-time buyers, investors, or anyone seeking a more simple retreat, Harbor Lights C-409 offers an opportunity to embrace a lifestyle of comfort, convenience, and community. Schedule a showing with your favorite Realtor today! Some photos have been virtually staged for illustrative purposes.

19. 2022-08-26
    soldstatus $163,500 Sold 1039-char remark

    Show marketing remark (1039 chars)

    Great starter home or investment property of a spacious one bedroom one bath of 610 SF at only 160K asking price and maintenance fee $454.11/mo. Freshly painted and the open space and beautiful views of the West Maui Mountains fill the living room and bedroom windows. There are ample kitchen cabinets, a pantry, and a good-sized storage room area within the unit. One assigned parking stall, onsite security, grounds with nice features of play areas, a little basketball area, inground pool, bar-b-ques, fishpond, office, and community laundry on different floors of the buildings. Harbor Lights is adjacent to the Maui Swap Meet where many go for weekly produce and the University of Hawaii Maui College. Around the corner on one side is Queen Kaahumanu Shopping Center and the Maui Arts & Cultural Center and Keopulani Park are on the other side. The Kahului Harbor and Ocean Views are just across the street. The central location is convenient for businesses, shopping, medical, schools, restaurants, government, and parks.

20. 2022-07-05
    listed $160,000 Active 1039-char remark

    Show marketing remark (1039 chars)

    Great starter home or investment property of a spacious one bedroom one bath of 610 SF at only 160K asking price and maintenance fee $454.11/mo. Freshly painted and the open space and beautiful views of the West Maui Mountains fill the living room and bedroom windows. There are ample kitchen cabinets, a pantry, and a good-sized storage room area within the unit. One assigned parking stall, onsite security, grounds with nice features of play areas, a little basketball area, inground pool, bar-b-ques, fishpond, office, and community laundry on different floors of the buildings. Harbor Lights is adjacent to the Maui Swap Meet where many go for weekly produce and the University of Hawaii Maui College. Around the corner on one side is Queen Kaahumanu Shopping Center and the Maui Arts & Cultural Center and Keopulani Park are on the other side. The Kahului Harbor and Ocean Views are just across the street. The central location is convenient for businesses, shopping, medical, schools, restaurants, government, and parks.

21. 2022-02-02
    historical
22. 2022-01-25
    listed $150,000 Active
23. 2016-04-27
    soldstatus $75,000 Sold
24. 2016-04-27
    soldstatus $75,000
25. 2016-04-12
    status Pending - Do not Show
26. 2016-04-09
    historical Pending - Continue to Show
27. 2016-03-11
    listed $88,000 Active
28. 2014-12-02
    soldstatus $45,000
29. 2014-09-21
    listed $45,000
30. 1974-10-01
    soldstatus $31,300

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

Tax reassessment forecast HI · Partial reset (capped growth)

• Current annual tax: $1,076 · $90/mo
• Projected year-2 tax: $1,076 · $90/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone VE · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $28,304
• − Mortgage interest: −$8,402
• − Property taxes: −$1,076
• − Insurance: −$8,778
• − Repairs & maintenance: −$2,264
• − Management: −$2,264
• − HOA: −$8,040
• − Depreciation: −$4,364
• Taxable loss: −$6,885
• Est. tax savings @ 24.0%: +$1,652
• After-tax cash flow: $-3,321/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 — Kahului

• Score: 74/100
• State rank: #17
• US rank: #4968

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kahului, HI
• City population: 25,889
• Population (ZIP): 25,889

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Asian 58% Two or more races 20% White 10% Pacific Islander 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Russian 3% Subsaharan African 1% Slovak 1%
• Foreign-born: 33% · Canada, South Korea, Vietnam
• Languages at home: 65% English-only · Other Asian/Pacific 22% Tagalog/Filipino 11%

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: ▼ -33.40%
• Current HPI: 684.5949
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+379.2% since first listed

15 events — show timeline

• 2025-12-16 Price Changed $150,000 RAM MLS
• 2025-10-03 Price Changed $165,000 RAM MLS
• 2025-09-15 Listed $175,000 RAM MLS
• 2022-08-26 Sold (MLS) $163,500 RAM MLS
• 2022-07-05 Listed $160,000 RAM MLS
• 2022-02-02 Listing Removed — RAM MLS
• 2022-01-25 Listed $150,000 RAM MLS
• 2016-04-27 Sold (Public Records) $75,000 Public Records
• 2016-04-27 Sold (MLS) $75,000 RAM MLS
• 2016-04-12 Pending — RAM MLS
• 2016-04-09 Contingent — RAM MLS
• 2016-03-11 Listed $88,000 RAM MLS
• 2014-12-02 Sold (MLS) $45,000 RAM MLS
• 2014-09-21 Listed $45,000 RAM MLS
• 1974-10-01 Sold (Public Records) $31,300 Public Records

Property tax history

+11.8%/yr

Latest (2025): $1,076 · +3.8% YoY. Source: county tax records.