3543 Lower Honoapiilani Rd Unit B-401 18A · Napili-Honokowai, HI 96761

$12,900

1 bd · 1.0 ba · 851 sqft · Timeshare · 1385 Days on market

Built 1977 12 ac lot $15/sqft · 24% above area Est $10k · 24% over $192/mo HOA · 6% 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
• 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
• ARV discount +0.0/15.0

Listing remarks

A rare, fee simple sale where the timeshare owner also gets to own the land. Well-appointed top floor 1 bed condo w/ loft that was remodeled in 2013. Breathtaking views off the lanai offer cool morning dining, whale watching and divine sunsets. The owner’s locker is equipped with beach chairs, snorkel gear, putters, games, etc. One of Maui's popular vacation spots, Papakea is well known for the many amenities that are available to owners and visitors which include two separate spacious pool areas with B B Q's, two covered clubhouses that are available for entertaining your guest. two large jacuzzi’s, two 12-hole putting greens and on-site security make this a vacation destinatio

Key facts

• 12.28 acre lot
• Pool
• Built 1977

Property features AI

Finance

• Other: Located in Papakea Resort with clubhouse; Lot is part of approximately 12.283 acres; Zoned A-2 (Apartment District)
• Financial info: Fee simple lease terms; Property listed as residential income
• HOA & community: Annual association fee; Association fee amount not provided in this section

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Public/county water; Public sewer; Underground electric; Phone connected; Cable connected
• Home design: Residential income property; High-rise (4+ stories); Ocean view
• Construction: Built in 1977, effectively updated in 2013; Stone and concrete construction; Monier tile roof
• Exterior features: Covered lanai/deck; Tennis courts; Barbecue; Putting green; Beachfront

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: Details not provided
• Flooring: Carpet; Tile
• Bathrooms: 1 bathroom
• Heating & cooling: No central air conditioning
• Interior features: Ceiling fans; Furnished; Cable TV; Drapes
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath timeshare listed at $13k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $13k).
• Recommended offer: $11k (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 25d 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 $89 of loan paydown is wiped out by about $387 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 1385 days — a 12% lower offer ($11k) is reasonable based on typical stale-listing flexibility.

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 $11,352 (12.0% below list)

Questions for the listing agent

1. It's been on market 1385 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. 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. 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?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 23.22% ✓
• Cap rate: 200.26%
• Cash-on-cash: 692.73%
• DSCR: 31.82
• GRM: 0.4

CMA / ARV

• ARV (median comp): $10,395
• List price: $12,900
• Delta: 24.10%
• Verdict: OVERPRICED
• 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: 26.37×
• Total profit: $91,628
• Equity at exit: $1,923

10-year hold

• IRR: —
• Equity multiple: 59.31×
• Total profit: $210,612
• Equity at exit: $1,115

Cash invested: $3,612 (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: 0.4×

Monthly cashflow live

• Estimated rent: $2,995 high
• Mortgage (P&I): −$68
• Tax est. 1.5%: −$16 /mo · $194/yr
• Insurance: −$5
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$192
• Vacancy / Maint / Mgmt: −$629
• Net cashflow: $1,416

Break-even live

Break-even rent $1,203

Max offer price $12,900

Occupancy floor 48%

Sensitivity live

Price	-10% $1,425	-5% $1,421	+0% $1,416	+5% $1,412	+10% $1,407
Rent	-10% $1,179	-5% $1,298	+0% $1,416	+5% $1,534	+10% $1,653
Rate	-1.0pp $1,423	-0.5pp $1,419	base $1,416	+0.5pp $1,413	+1.0pp $1,409

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: $3,225
• Closing costs: $387
• 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	25d	1	0.11mi
3626 Lower Honoapiilani Rd Lahaina, HI	2.0	1.0	620	$2,650	$4.27	3d	16	0.24mi
3676 Lower Honoapiilani Rd Unit D102 Lahaina, HI	2.0	1.0	658	$2,700	$4.10	18d	1	0.33mi
3702 Lower Honoapiilani Rd Unit A-33 Lahaina, HI	1.0	1.0	607	$2,700	$4.45	45d	1	0.37mi
3740 Lower Honoapiilani Rd Lahaina, HI	1.0	1.0	476	$2,500	$5.25	4d	2	0.46mi
3740 Lower Honoapiilani Rd Lahaina, HI	1.0	1.0	476	$2,500	$5.25	4d	2	0.46mi
3788 Lower Honoapiilani Rd Unit C102 Lahaina, HI	2.0	2.0	1122	$3,750	$3.34	45d	1	0.54mi
2348 Aina Mahiai Pl Lahaina, HI	2.0	2.0	1015	$7,500	$7.39	45d	1	1.18mi

HOA detail

• Monthly dues: $192 · $2,304/yr
• Likely covers: poolsecurity

Listing history 16 events

1. 2026-06-21
   days on market $12,900 Active 1385 DOM
2. 2026-06-18
   days on market $12,900 Active 1382 DOM
3. 2026-06-17
   days on market $12,900 Active 1381 DOM
4. 2026-06-15
   days on market $12,900 Active 1379 DOM
5. 2026-06-13
   days on market $12,900 Active 1377 DOM
6. 2026-06-13
   days on market $12,900 Active 1376 DOM
7. 2026-06-10
   days on market $12,900 Active 1374 DOM
8. 2026-06-09
   days on market $12,900 Active 1373 DOM
9. 2026-06-08
   days on market $12,900 Active 1372 DOM
10. 2026-06-07
    days on market $12,900 Active 1371 DOM
11. 2026-06-05
    days on market $12,900 Active 1368 DOM
12. 2026-06-03
    days on market $12,900 Active 1367 DOM
13. 2026-06-02
    days on market $12,900 Active 1366 DOM
14. 2026-06-01
    days on market $12,900 Active 1365 DOM
15. 2026-05-31
    days on market $12,900 Active 1364 DOM
16. 2022-09-05
    listed $12,900 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 9/10 Extreme FEMA zone VE · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $35,943
• − Mortgage interest: −$723
• − Property taxes: −$194
• − Insurance: −$8,092
• − Repairs & maintenance: −$2,875
• − Management: −$2,875
• − HOA: −$2,304
• − Depreciation: −$375
• Taxable income: $18,504
• Est. tax owed @ 24.0%: −$4,441
• After-tax cash flow: $12,552/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

1 event — show timeline

• 2022-09-05 Listed $12,900 RAM MLS