3770 Alaoli Way Unit 2302-H · Lihue, HI 96766

$475,000

3 bd · 3.5 ba · 2,026 sqft · Condo · 229 Days on market

Built 2018 Excellent condition $234/sqft · 56% below area $2142/mo HOA · 43% 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Condition / age +4.8/5.0
• Cash flow +3.2/30.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

This property has fractional or shared ownership. This listing includes the following concessions: * THREE YEARS of prepaid HOA Dues * 3 Prime Credit weeks for Timbers Reciprocity. * Includes Membership to the Timbers Reciprocity Program valued at $35,000. * Transferrable Hokuala Club Membership The Maliula Residence Club at Timbers Kaua’i Ocean Club & Residences are 3-bedroom luxury residences with gracious living spaces that host spectacular views of the Pacific, lagoons and the Ocean Course at Hokuala, a Jack Nicklaus signature golf course. Owners enjoy a deeded 1/12th residential ownership interest in the beautiful turn-key condominiums with 5-star services and amenities. Timbers Kaua’i is amidst the 450-acre resort community of Hokuala in the heart of Kaua'i where recreational opportunities include world-class golf, a 38-acre lagoon with kayaking and sailing, tennis and pickleball, endless trails for biking, running and walks to adjacent beaches and the organic Farm.

Key facts

• Pacific views
• Lagoon views
• Deeded ownership

Tags

• SPECTACULAR VIEWS
• PACIFIC VIEWS
• LAGOON VIEWS
• DEEDED OWNERSHIP
• TURN-KEY CONDOMINIUMS
• 450-ACRE RESORT COMMUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath condo listed at $475k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-1k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $259k (45.5% below list).
• Meets the 1% rule at list price ($5k rent vs $475k).
• Recommended offer: $259k (45.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 65/100 on livability (#53 in HI) — a middle-class / working-renter tenant base. Strengths: employment A+, commute A, crime A-; Watch: health & safety C-, schools D+, amenities F.
• Market conditions: 37 active listings in the ZIP; 141 units permitted in Kauai County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $51k of equity ($3k loan paydown + $48k appreciation (10.0% local appreciation)).
• Kauai County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$82k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 229 days — a 12% lower offer ($418k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $50k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.

Recommended offer $259,024 (45.5% 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 229 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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?
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: 1.05% ✓
• Cap rate: 2.52%
• Cash-on-cash: -13.47%
• DSCR: 0.40
• GRM: 8.0

CMA / ARV

• ARV (median comp): $1,081,690
• List price: $475,000
• Delta: -56.09%
• Verdict: UNDERPRICED
• Comps: 9 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.0%
• Equity multiple: 2.24×
• Total profit: $165,027
• Equity at exit: $427,918

10-year hold

• IRR: 14.8%
• Equity multiple: 5.24×
• Total profit: $563,501
• Equity at exit: $922,821

Cash invested: $133,000 (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 96766

• Home prices YoY: 2.0%
• Active inventory: 37
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $4,977 medium
• Mortgage (P&I): −$2,491
• Tax est. 1.5%: −$594 /mo · $7,125/yr
• Insurance: −$198
• HOA: −$2,142
• Vacancy / Maint / Mgmt: −$1,045
• Net cashflow: $-1,493

Break-even live

Break-even rent $6,867

Max offer price $259,024

Occupancy floor —

Sensitivity live

Price	-10% $-1,164	-5% $-1,328	+0% $-1,493	+5% $-1,657	+10% $-1,821
Rent	-10% $-1,886	-5% $-1,689	+0% $-1,493	+5% $-1,296	+10% $-1,099
Rate	-1.0pp $-1,253	-0.5pp $-1,372	base $-1,493	+0.5pp $-1,616	+1.0pp $-1,741

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $2,142 · $25,704/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $475,000 Active 229 DOM
2. 2026-06-17
   days on market $475,000 Active 228 DOM
3. 2026-06-15
   days on market $475,000 Active 226 DOM
4. 2026-06-13
   days on market $475,000 Active 224 DOM
5. 2026-06-13
   days on market $475,000 Active 223 DOM
6. 2026-06-10
   days on market $475,000 Active 221 DOM
7. 2026-06-09
   days on market $475,000 Active 220 DOM
8. 2026-06-08
   days on market $475,000 Active 219 DOM
9. 2026-06-07
   days on market $475,000 Active 218 DOM
10. 2026-06-05
    days on market $475,000 Active 215 DOM
11. 2026-06-03
    days on market $475,000 Active 214 DOM
12. 2026-06-02
    days on market $475,000 Active 213 DOM
13. 2026-06-01
    days on market $475,000 Active 212 DOM
14. 2026-05-31
    days on market $475,000 Active 211 DOM
15. 2025-11-18
    price $475,000 1011-char remark

    Show marketing remark (1011 chars)

    This property has fractional or shared ownership. This listing includes the following concessions: * THREE YEARS of prepaid HOA Dues * 3 Prime Credit weeks for Timbers Reciprocity. * Includes Membership to the Timbers Reciprocity Program valued at $35,000. * Transferrable Hokuala Club Membership The Maliula Residence Club at Timbers Kaua’i Ocean Club & Residences are 3-bedroom luxury residences with gracious living spaces that host spectacular views of the Pacific, lagoons and the Ocean Course at Hokuala, a Jack Nicklaus signature golf course. Owners enjoy a deeded 1/12th residential ownership interest in the beautiful turn-key condominiums with 5-star services and amenities. Timbers Kaua’i is amidst the 450-acre resort community of Hokuala in the heart of Kaua'i where recreational opportunities include world-class golf, a 38-acre lagoon with kayaking and sailing, tennis and pickleball, endless trails for biking, running and walks to adjacent beaches and the organic Farm.

16. 2025-10-31
    listed $525,000 Active 1011-char remark

    Show marketing remark (1011 chars)

    This property has fractional or shared ownership. This listing includes the following concessions: * THREE YEARS of prepaid HOA Dues * 3 Prime Credit weeks for Timbers Reciprocity. * Includes Membership to the Timbers Reciprocity Program valued at $35,000. * Transferrable Hokuala Club Membership The Maliula Residence Club at Timbers Kaua’i Ocean Club & Residences are 3-bedroom luxury residences with gracious living spaces that host spectacular views of the Pacific, lagoons and the Ocean Course at Hokuala, a Jack Nicklaus signature golf course. Owners enjoy a deeded 1/12th residential ownership interest in the beautiful turn-key condominiums with 5-star services and amenities. Timbers Kaua’i is amidst the 450-acre resort community of Hokuala in the heart of Kaua'i where recreational opportunities include world-class golf, a 38-acre lagoon with kayaking and sailing, tennis and pickleball, endless trails for biking, running and walks to adjacent beaches and the organic Farm.

17. 2023-03-29
    listed $445,000 Active 914-char remark

    Show marketing remark (914 chars)

    This property has fractional or shared ownership. This is a fractional/shared ownership listing. The Maliula Residence Club at Timbers Kaua’i Ocean Club & Residences are 3-bedroom luxury residences with gracious living spaces that host spectacular views of the Pacific, lagoons and the Ocean Course at Hokuala, a Jack Nicklaus signature golf course. Owners enjoy a deeded 1/12th residential ownership interest in the beautiful turn-key condominiums with 5-star services and amenities. Timbers Kaua’i is amidst the 450-acre resort community of Hokuala in the heart of Kaua'i where recreational opportunities include world-class golf, a 38-acre lagoon with kayaking and sailing, tennis and pickleball, endless trails for biking, running and walks to adjacent beaches and the organic Farm at Hokuala. There are also 1/6th interests and full ownership opportunities available at Timbers Kaua’i.

18. 2023-03-28
    soldstatus $445,000 Sold 914-char remark

    Show marketing remark (914 chars)

    This property has fractional or shared ownership. This is a fractional/shared ownership listing. The Maliula Residence Club at Timbers Kaua’i Ocean Club & Residences are 3-bedroom luxury residences with gracious living spaces that host spectacular views of the Pacific, lagoons and the Ocean Course at Hokuala, a Jack Nicklaus signature golf course. Owners enjoy a deeded 1/12th residential ownership interest in the beautiful turn-key condominiums with 5-star services and amenities. Timbers Kaua’i is amidst the 450-acre resort community of Hokuala in the heart of Kaua'i where recreational opportunities include world-class golf, a 38-acre lagoon with kayaking and sailing, tennis and pickleball, endless trails for biking, running and walks to adjacent beaches and the organic Farm at Hokuala. There are also 1/6th interests and full ownership opportunities available at Timbers Kaua’i.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs

Taxation est. · year 1

• Rental income: $59,727
• − Mortgage interest: −$26,607
• − Property taxes: −$7,125
• − Insurance: −$2,375
• − Repairs & maintenance: −$4,778
• − Management: −$4,778
• − HOA: −$25,704
• − Depreciation: −$13,818
• Taxable loss: −$25,458
• Est. tax savings @ 24.0%: +$6,110
• After-tax cash flow: $-11,801/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.

Condition & rehab AI · 12 photos

Excellent 95/100 None rehab

This luxurious 3-bedroom condo is in excellent condition with stunning ocean views and top-notch amenities. It's move-in ready and perfect for both resale and rental.

Value-add opportunities

• Both Upgrade to smart home technology — Enhances convenience and energy efficiency
• Both Add smart thermostat — Improves energy efficiency and comfort
• Both Install smart locks — Enhances security and convenience

Renovation cost estimate screening

Value-add ROI direction

• Both Upgrade to smart home technology — Enhances convenience and energy efficiency ↑
• Both Add smart thermostat — Improves energy efficiency and comfort ↑
• Both Install smart locks — Enhances security and convenience ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

No district data.

Livability — Lihue

• Score: 65/100
• State rank: #53
• US rank: #12846

Category grades

Amenities F Commute A 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: Lihue, HI
• Population (ZIP): 16,924

Population outlook (Kauai County) Hauer SSP2

• Today (2025): 80,681 people
• By 2030: 85,158 · +5.5%
• By 2040: 93,679 · +16.1%
• By 2050: 102,608 · +27.2%
• By 2075: 129,159 · +60.1%
• By 2100: 157,205 · +94.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.76)
• Race & ethnicity: Asian 45% Two or more races 28% White 14% Hispanic / Latino 12% Pacific Islander 9% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Russian 5% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 21% · Canada, Vietnam, China
• Languages at home: 78% English-only · Other Asian/Pacific 13% Tagalog/Filipino 6% Chinese 1%

Political lean MEDSL · Kauai

• 2024 margin: D (+19.5) · D 58.8% · R 39.3% · Other 1.9%
• 2008→2024 swing: -32.5pp toward R · 2008: 52.0pp · 2024: 19.5pp
• All cycles: 2024: D+19.5 2020: D+28.8 2016: D+33.7 2012: D+49.3 2008: D+52.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.33%
• Current HPI: 769.4957
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+6.7% since first listed

4 events — show timeline

• 2025-11-18 Price Changed $475,000 HI Information Service
• 2025-10-31 Listed $525,000 HI Information Service
• 2023-03-29 Listed $445,000 HI Information Service
• 2023-03-28 Sold (MLS) $445,000 HI Information Service