3543 Lower Honoapiilani Rd Unit F110 · Napili-Honokowai, HI 96761

$10,000

1 bd · 1.0 ba · 712 sqft · Condo public records · 246 Days on market

Built 1977 $14/sqft · at area comps Est $10k · at est. $461/mo HOA · 16% 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 +9.2/15.0
• 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 F110 is direct oceanfront! The apartment features one bedroom and one bathroom, located at the beautiful Papakea. This unit is located on the first floor in the oceanfront "F" building. Enjoy all that Papakea has to offer from May 16, 2026 to May 30, 2026. PTIO F110 has a split a/c system that provides cooling of the entire condo. 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 annual maintenance fees offer ease of payment with a portion billed in January and the balance due in the late summer/early fall. Fees include property taxes, grounds, building and unit maintenance, reserve fund, and housekeeping. The lofts in timeshare Units B401, B404, F403 and K403, operated and managed by Kaanapali Keys Time Interest Owners’ Association (“TIOA”), may not be permitted or in compliance with current building codes; see 'associated documents.' Further investigation is pending by the TIOA and/or AOAO. The interior plumbing project began in June 2024. The plumbing project in the F building has been completed. Buyer to do own diligence and to request further information from the AOAO. The buyer(s) are aware that this condominium complex is in A1 or A2 zoning which may be affected by Maui County's future ordinance to discontinue the allowance of short term rentals. Buyer(s) should do their own due diligence on the future use of this property; Buyer(s) understand that there is no guarantee of future rental income. A short term rental is defined as a domicile rented out for less than 180 days.

Key facts

• On site security
• Direct oceanfront
• Split a/c system

Tags

• DIRECT OCEANFRONT
• SPLIT A/C SYSTEM
• TWO COVERED CLUBHOUSES
• TWO LARGE JACUZZIS
• TWO PUTTING GREENS
• ON SITE SECURITY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $10k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $10k).
• Recommended offer: $9k (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; 6 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 33% 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 $69 of loan paydown is wiped out by about $300 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 246 days — a 12% lower offer ($9k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y ago; this cycle's ask has dropped $3k (23%) 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.
• Climate carrying-cost: in FEMA flood zone VE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $8,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 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. 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: 27.97% ✓
• Cap rate: 207.80%
• Cash-on-cash: 719.67%
• DSCR: 33.02
• GRM: 0.3

CMA / ARV

• ARV (median comp): $10,395
• List price: $10,000
• Delta: -3.80%
• Verdict: FAIR
• 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: 24.65×
• Total profit: $66,213
• Equity at exit: $1,491

10-year hold

• IRR: —
• Equity multiple: 56.37×
• Total profit: $155,034
• Equity at exit: $865

Cash invested: $2,800 (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: $2,797 high
• Mortgage (P&I): −$52
• Tax est. 1.5%: −$12 /mo · $150/yr
• Insurance: −$4
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$461
• Vacancy / Maint / Mgmt: −$587
• Net cashflow: $1,010

Break-even live

Break-even rent $1,518

Max offer price $10,000

Occupancy floor 59%

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: $2,500
• Closing costs: $300
• Reserves months: —
• Total cash needed: —

Rent comps 6 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

HOA detail condo

• Monthly dues: $461 · $5,532/yr
• Likely covers: landscapingpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 43 events

1. 2026-06-18
   days on market $10,000 Active 246 DOM
2. 2026-06-17
   days on market $10,000 Active 245 DOM
3. 2026-06-15
   days on market $10,000 Active 243 DOM
4. 2026-06-13
   days on market $10,000 Active 241 DOM
5. 2026-06-13
   days on market $10,000 Active 240 DOM
6. 2026-06-10
   days on market $10,000 Active 238 DOM
7. 2026-06-09
   days on market $10,000 Active 237 DOM
8. 2026-06-08
   days on market $10,000 Active 236 DOM
9. 2026-06-07
   days on market $10,000 Active 235 DOM
10. 2026-06-05
    days on market $10,000 Active 232 DOM
11. 2026-06-03
    days on market $10,000 Active 231 DOM
12. 2026-06-02
    days on market $10,000 Active 230 DOM
13. 2026-06-01
    days on market $10,000 Active 229 DOM
14. 2026-05-31
    days on market $10,000 Active 228 DOM
15. 2026-05-05
    price $10,000 2061-char remark

    Show marketing remark (2061 chars)

    Papakea Time Interval F110 is direct oceanfront! The apartment features one bedroom and one bathroom, located at the beautiful Papakea. This unit is located on the first floor in the oceanfront "F" building. Enjoy all that Papakea has to offer from May 16, 2026 to May 30, 2026. PTIO F110 has a split a/c system that provides cooling of the entire condo. 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 annual maintenance fees offer ease of payment with a portion billed in January and the balance due in the late summer/early fall. Fees include property taxes, grounds, building and unit maintenance, reserve fund, and housekeeping. The lofts in timeshare Units B401, B404, F403 and K403, operated and managed by Kaanapali Keys Time Interest Owners’ Association (“TIOA”), may not be permitted or in compliance with current building codes; see 'associated documents.' Further investigation is pending by the TIOA and/or AOAO. The interior plumbing project began in June 2024. The plumbing project in the F building has been completed. Buyer to do own diligence and to request further information from the AOAO. The buyer(s) are aware that this condominium complex is in A1 or A2 zoning which may be affected by Maui County's future ordinance to discontinue the allowance of short term rentals. Buyer(s) should do their own due diligence on the future use of this property; Buyer(s) understand that there is no guarantee of future rental income. A short term rental is defined as a domicile rented out for less than 180 days.

16. 2026-03-14
    price $11,500 2061-char remark

    Show marketing remark (2061 chars)

    Papakea Time Interval F110 is direct oceanfront! The apartment features one bedroom and one bathroom, located at the beautiful Papakea. This unit is located on the first floor in the oceanfront "F" building. Enjoy all that Papakea has to offer from May 16, 2026 to May 30, 2026. PTIO F110 has a split a/c system that provides cooling of the entire condo. 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 annual maintenance fees offer ease of payment with a portion billed in January and the balance due in the late summer/early fall. Fees include property taxes, grounds, building and unit maintenance, reserve fund, and housekeeping. The lofts in timeshare Units B401, B404, F403 and K403, operated and managed by Kaanapali Keys Time Interest Owners’ Association (“TIOA”), may not be permitted or in compliance with current building codes; see 'associated documents.' Further investigation is pending by the TIOA and/or AOAO. The interior plumbing project began in June 2024. The plumbing project in the F building has been completed. Buyer to do own diligence and to request further information from the AOAO. The buyer(s) are aware that this condominium complex is in A1 or A2 zoning which may be affected by Maui County's future ordinance to discontinue the allowance of short term rentals. Buyer(s) should do their own due diligence on the future use of this property; Buyer(s) understand that there is no guarantee of future rental income. A short term rental is defined as a domicile rented out for less than 180 days.

17. 2025-10-15
    listed $13,000 Active 2061-char remark

    Show marketing remark (2061 chars)

    Papakea Time Interval F110 is direct oceanfront! The apartment features one bedroom and one bathroom, located at the beautiful Papakea. This unit is located on the first floor in the oceanfront "F" building. Enjoy all that Papakea has to offer from May 16, 2026 to May 30, 2026. PTIO F110 has a split a/c system that provides cooling of the entire condo. 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 annual maintenance fees offer ease of payment with a portion billed in January and the balance due in the late summer/early fall. Fees include property taxes, grounds, building and unit maintenance, reserve fund, and housekeeping. The lofts in timeshare Units B401, B404, F403 and K403, operated and managed by Kaanapali Keys Time Interest Owners’ Association (“TIOA”), may not be permitted or in compliance with current building codes; see 'associated documents.' Further investigation is pending by the TIOA and/or AOAO. The interior plumbing project began in June 2024. The plumbing project in the F building has been completed. Buyer to do own diligence and to request further information from the AOAO. The buyer(s) are aware that this condominium complex is in A1 or A2 zoning which may be affected by Maui County's future ordinance to discontinue the allowance of short term rentals. Buyer(s) should do their own due diligence on the future use of this property; Buyer(s) understand that there is no guarantee of future rental income. A short term rental is defined as a domicile rented out for less than 180 days.

18. 2025-05-23
    historical
19. 2025-04-29
    listed $13,000 Active
20. 2025-04-11
    soldstatus $11,500 Sold
21. 2025-03-20
    soldstatus $7,500 Sold
22. 2025-03-14
    historical Pending - Continue to Show
23. 2025-01-31
    historical Pending - Continue to Show
24. 2025-01-31
    price $7,500
25. 2024-09-28
    price $10,000
26. 2024-08-08
    price $18,000
27. 2024-07-30
    listed $20,000 Active
28. 2024-03-11
    listed $20,000 Active
29. 2022-10-13
    soldstatus $16,000 Sold
30. 2022-08-07
    historical Pending - Continue to Show
31. 2022-07-15
    price $28,000
32. 2022-06-14
    listed $19,000 Active
33. 2018-03-15
    soldstatus $28,000 Sold
34. 2018-02-15
    historical Pending - Continue to Show
35. 2018-02-14
    listed $28,000 Active
36. 2012-03-30
    soldstatus $101,933
37. 2011-09-14
    soldstatus $586,400
38. 2003-11-13
    soldstatus $15,000
39. 2000-06-23
    soldstatus $15,000
40. 1999-08-24
    soldstatus $5,000
41. 1988-11-17
    soldstatus $3,950,000
42. 1980-04-01
    soldstatus $215,000
43. 1978-05-01
    soldstatus $123,500

ⓘ 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: $33,559
• − Mortgage interest: −$560
• − Property taxes: −$150
• − Insurance: −$8,078
• − Repairs & maintenance: −$2,685
• − Management: −$2,685
• − HOA: −$5,532
• − Depreciation: −$291
• Taxable income: $13,579
• Est. tax owed @ 24.0%: −$3,259
• After-tax cash flow: $8,864/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

-91.9% since first listed

29 events — show timeline

• 2026-05-05 Price Changed $10,000 RAM MLS
• 2026-03-14 Price Changed $11,500 RAM MLS
• 2025-10-15 Listed $13,000 RAM MLS
• 2025-05-23 Listing Removed — RAM MLS
• 2025-04-29 Listed $13,000 RAM MLS
• 2025-04-11 Sold (MLS) $11,500 RAM MLS
• 2025-03-20 Sold (MLS) $7,500 RAM MLS
• 2025-03-14 Contingent — RAM MLS
• 2025-01-31 Contingent — RAM MLS
• 2025-01-31 Price Changed $7,500 RAM MLS
• 2024-09-28 Price Changed $10,000 RAM MLS
• 2024-08-08 Price Changed $18,000 RAM MLS
• 2024-07-30 Listed $20,000 RAM MLS
• 2024-03-11 Listed $20,000 RAM MLS
• 2022-10-13 Sold (MLS) $16,000 RAM MLS
• 2022-08-07 Contingent — RAM MLS
• 2022-07-15 Price Changed $28,000 RAM MLS
• 2022-06-14 Listed $19,000 RAM MLS
• 2018-03-15 Sold (MLS) $28,000 RAM MLS
• 2018-02-15 Contingent — RAM MLS
• 2018-02-14 Listed $28,000 RAM MLS
• 2012-03-30 Sold (Public Records) $101,933 Public Records
• 2011-09-14 Sold (Public Records) $586,400 Public Records
• 2003-11-13 Sold (Public Records) $15,000 Public Records
• 2000-06-23 Sold (Public Records) $15,000 Public Records
• 1999-08-24 Sold (Public Records) $5,000 Public Records
• 1988-11-17 Sold (Public Records) $3,950,000 Public Records
• 1980-04-01 Sold (Public Records) $215,000 Public Records
• 1978-05-01 Sold (Public Records) $123,500 Public Records

Property tax history

+7.1%/yr

Latest (2025): $17,111 · +0.3% YoY. Source: county tax records.