2481 Kaanapali Pkwy Unit 220 L · Kaanapali, HI 96761

$49,995

1 bd · 1.0 ba · 901 sqft · Condo public records · 659 Days on market

Built 1975 Est $39k · 29% over $346/mo HOA · 10% of rent ↓ 31% since listing

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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
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.2/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Located on West Maui in the World Famous Kaanapali Resort and Kaanapali Beach. This 1 bed 1 bath Whaler Time Interval has been upgraded with tile flooring, hardwood cabinetry, granite countertops, stainless steel appliances and fully remodeled baths, Molokai and ocean views off the lanai. Intervals dates are May 29 to June 12. Maintenance fees include all cost of ownership which includes property taxes. On-site amenities include a workout facility, pool, hot tub, sauna, tennis and pickleball courts, business work center, oceanside grills and a fire pit. Easy access to Whaler Village for upscale shopping, fine dining and 2 golf courses minutes away.

Key facts

• 6.67 acre lot
• Pool
• Built 1975

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $50k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.

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.
• Market conditions: Rents rising (+4.0%/yr); 637 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 $345 of loan paydown is wiped out by about $2k 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 659 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago; this cycle's ask has dropped $25k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $50k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $43,995 (12.0% below list)

Questions for the listing agent

1. It's been on market 659 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 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 6.84% ✓
• Cap rate: 54.52%
• Cash-on-cash: 172.24%
• DSCR: 8.66
• GRM: 1.2

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: 9.82×
• Total profit: $123,504
• Equity at exit: $7,454

10-year hold

• IRR: —
• Equity multiple: 21.54×
• Total profit: $287,502
• Equity at exit: $4,323

Cash invested: $13,999 (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: 1.2×

Monthly cashflow live

• Estimated rent: $3,419 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$346
• Vacancy / Maint / Mgmt: −$718
• Net cashflow: $2,009

Break-even live

Break-even rent $875

Max offer price $49,995

Occupancy floor 36%

Sensitivity live

Price	-10% $2,044	-5% $2,027	+0% $2,009	+5% $1,992	+10% $1,975
Rent	-10% $1,739	-5% $1,874	+0% $2,009	+5% $2,144	+10% $2,279
Rate	-1.0pp $2,034	-0.5pp $2,022	base $2,009	+0.5pp $1,996	+1.0pp $1,983

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: $12,499
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $346 · $4,152/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $49,995 Active 659 DOM
2. 2026-06-17
   days on market $49,995 Active 658 DOM
3. 2026-06-15
   days on market $49,995 Active 656 DOM
4. 2026-06-13
   days on market $49,995 Active 654 DOM
5. 2026-06-13
   days on market $49,995 Active 653 DOM
6. 2026-06-10
   days on market $49,995 Active 651 DOM
7. 2026-06-09
   days on market $49,995 Active 650 DOM
8. 2026-06-08
   days on market $49,995 Active 649 DOM
9. 2026-06-07
   days on market $49,995 Active 648 DOM
10. 2026-06-05
    days on market $49,995 Active 645 DOM
11. 2026-06-03
    days on market $49,995 Active 644 DOM
12. 2026-06-02
    days on market $49,995 Active 643 DOM
13. 2026-06-01
    days on market $49,995 Active 642 DOM
14. 2026-06-01
    remarks 656-char remark
15. 2026-06-01
    pricedays on marketlisting id $49,995 Active 641 DOM
16. 2026-05-31
    days on market $75,000 Active 446 DOM
17. 2026-03-13
    price $49,995 656-char remark

    Show marketing remark (656 chars)

    Located on West Maui in the World Famous Kaanapali Resort and Kaanapali Beach. This 1 bed 1 bath Whaler Time Interval has been upgraded with tile flooring, hardwood cabinetry, granite countertops, stainless steel appliances and fully remodeled baths, Molokai and ocean views off the lanai. Intervals dates are May 29 to June 12. Maintenance fees include all cost of ownership which includes property taxes. On-site amenities include a workout facility, pool, hot tub, sauna, tennis and pickleball courts, business work center, oceanside grills and a fire pit. Easy access to Whaler Village for upscale shopping, fine dining and 2 golf courses minutes away.

18. 2025-07-02
    price $75,000 650-char remark

    Show marketing remark (650 chars)

    Spend July 4th on Maui in the world Famous Kaanapali Resort. This 1 bed 1 bath Whaler Time Interval has been upgraded with tile flooring, hardwood cabinetry, granite countertops, stainless steel appliances and fully remodeled baths. Enjoy ocean views from the lanai while sipping on your favorite beverage. Intervals dates are June 26 to July 10. Maintenace fees cover all cost of ownership which also includes property taxes. On-site amenities available are pool, hot tub, sauna, tennis and pickleball courts, business work center, oceanside grills and a fire pit. Easy access to Whalers Village for upscale shopping, fine dining and 2 golf courses.

19. 2025-06-27
    price $59,995 656-char remark

    Show marketing remark (656 chars)

    Located on West Maui in the World Famous Kaanapali Resort and Kaanapali Beach. This 1 bed 1 bath Whaler Time Interval has been upgraded with tile flooring, hardwood cabinetry, granite countertops, stainless steel appliances and fully remodeled baths, Molokai and ocean views off the lanai. Intervals dates are May 29 to June 12. Maintenance fees include all cost of ownership which includes property taxes. On-site amenities include a workout facility, pool, hot tub, sauna, tennis and pickleball courts, business work center, oceanside grills and a fire pit. Easy access to Whaler Village for upscale shopping, fine dining and 2 golf courses minutes away.

20. 2025-06-24
    price $59,995 650-char remark

    Show marketing remark (650 chars)

    Spend July 4th on Maui in the world Famous Kaanapali Resort. This 1 bed 1 bath Whaler Time Interval has been upgraded with tile flooring, hardwood cabinetry, granite countertops, stainless steel appliances and fully remodeled baths. Enjoy ocean views from the lanai while sipping on your favorite beverage. Intervals dates are June 26 to July 10. Maintenace fees cover all cost of ownership which also includes property taxes. On-site amenities available are pool, hot tub, sauna, tennis and pickleball courts, business work center, oceanside grills and a fire pit. Easy access to Whalers Village for upscale shopping, fine dining and 2 golf courses.

21. 2025-04-07
    price $64,950 650-char remark

    Show marketing remark (656 chars)

    Located on West Maui in the World Famous Kaanapali Resort and Kaanapali Beach. This 1 bed 1 bath Whaler Time Interval has been upgraded with tile flooring, hardwood cabinetry, granite countertops, stainless steel appliances and fully remodeled baths, Molokai and ocean views off the lanai. Intervals dates are May 29 to June 12. Maintenance fees include all cost of ownership which includes property taxes. On-site amenities include a workout facility, pool, hot tub, sauna, tennis and pickleball courts, business work center, oceanside grills and a fire pit. Easy access to Whaler Village for upscale shopping, fine dining and 2 golf courses minutes away.

22. 2025-04-07
    price $64,950 656-char remark

    Show marketing remark (656 chars)

    Located on West Maui in the World Famous Kaanapali Resort and Kaanapali Beach. This 1 bed 1 bath Whaler Time Interval has been upgraded with tile flooring, hardwood cabinetry, granite countertops, stainless steel appliances and fully remodeled baths, Molokai and ocean views off the lanai. Intervals dates are May 29 to June 12. Maintenance fees include all cost of ownership which includes property taxes. On-site amenities include a workout facility, pool, hot tub, sauna, tennis and pickleball courts, business work center, oceanside grills and a fire pit. Easy access to Whaler Village for upscale shopping, fine dining and 2 golf courses minutes away.

23. 2025-03-11
    listed $75,000 Active 650-char remark

    Show marketing remark (650 chars)

    Spend July 4th on Maui in the world Famous Kaanapali Resort. This 1 bed 1 bath Whaler Time Interval has been upgraded with tile flooring, hardwood cabinetry, granite countertops, stainless steel appliances and fully remodeled baths. Enjoy ocean views from the lanai while sipping on your favorite beverage. Intervals dates are June 26 to July 10. Maintenace fees cover all cost of ownership which also includes property taxes. On-site amenities available are pool, hot tub, sauna, tennis and pickleball courts, business work center, oceanside grills and a fire pit. Easy access to Whalers Village for upscale shopping, fine dining and 2 golf courses.

24. 2025-01-27
    price $74,500 656-char remark

    Show marketing remark (656 chars)

    Located on West Maui in the World Famous Kaanapali Resort and Kaanapali Beach. This 1 bed 1 bath Whaler Time Interval has been upgraded with tile flooring, hardwood cabinetry, granite countertops, stainless steel appliances and fully remodeled baths, Molokai and ocean views off the lanai. Intervals dates are May 29 to June 12. Maintenance fees include all cost of ownership which includes property taxes. On-site amenities include a workout facility, pool, hot tub, sauna, tennis and pickleball courts, business work center, oceanside grills and a fire pit. Easy access to Whaler Village for upscale shopping, fine dining and 2 golf courses minutes away.

25. 2024-08-28
    listed $79,000 Active 656-char remark

    Show marketing remark (656 chars)

    Located on West Maui in the World Famous Kaanapali Resort and Kaanapali Beach. This 1 bed 1 bath Whaler Time Interval has been upgraded with tile flooring, hardwood cabinetry, granite countertops, stainless steel appliances and fully remodeled baths, Molokai and ocean views off the lanai. Intervals dates are May 29 to June 12. Maintenance fees include all cost of ownership which includes property taxes. On-site amenities include a workout facility, pool, hot tub, sauna, tennis and pickleball courts, business work center, oceanside grills and a fire pit. Easy access to Whaler Village for upscale shopping, fine dining and 2 golf courses minutes away.

26. 2022-09-09
    soldstatus $21,500 Sold
27. 2022-07-15
    listed $21,500 Active
28. 2002-05-06
    listed $25,000
29. 1999-01-07
    soldstatus $21,500
30. 1990-12-28
    soldstatus $537,900
31. 1976-01-01
    soldstatus $72,000

ⓘ 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: −$2,800
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$3,282
• − Management: −$3,282
• − HOA: −$4,152
• − Depreciation: −$1,454
• Taxable income: $25,054
• Est. tax owed @ 24.0%: −$6,013
• After-tax cash flow: $18,098/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

-30.6% since first listed

15 events — show timeline

• 2026-03-13 Price Changed $49,995 RAM MLS
• 2025-07-02 Price Changed $75,000 RAM MLS
• 2025-06-27 Price Changed $59,995 RAM MLS
• 2025-06-24 Price Changed $59,995 RAM MLS
• 2025-04-07 Price Changed $64,950 RAM MLS
• 2025-04-07 Price Changed $64,950 RAM MLS
• 2025-03-11 Listed $75,000 RAM MLS
• 2025-01-27 Price Changed $74,500 RAM MLS
• 2024-08-28 Listed $79,000 RAM MLS
• 2022-09-09 Sold (MLS) $21,500 RAM MLS
• 2022-07-15 Listed $21,500 RAM MLS
• 2002-05-06 Listed $25,000 RAM MLS
• 1999-01-07 Sold (Public Records) $21,500 Public Records
• 1990-12-28 Sold (Public Records) $537,900 Public Records
• 1976-01-01 Sold (Public Records) $72,000 Public Records

Property tax history

+10.1%/yr

Latest (2025): $16,183 · +3.8% YoY. Source: county tax records.