111 Kahului Beach Rd Unit D112 · Kahului, HI 96732

$139,999

1 bd · 1.0 ba · 610 sqft · Condo public records · 145 Days on market

Built 1974 $725/mo HOA · 31% of rent

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Why this score? — see what drove the C+ 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 +25.4/30.0
• 1% rule +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 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

This is unit is being sold as a short sale.Bright & Cheerful Ground-Floor Condo centrally located in Kahului. Welcome to Harbor Lights – a vibrant condo community where comfort and convenience, come together in perfect harmony. This charming ground-floor 1-bedroom, 1-bath unit offers ease of living with thoughtful features like ceiling fans in both the living room and bedroom, a spacious kitchen pantry, and ample closet space, including generous linen and bedroom closets. Enjoy quick access to local favorites like the Maui Arts & Cultural Center, Costco, Queen Ka'ahumanu Center, and a wide variety of dining options. Outdoor lovers will appreciate being just minutes from 'Iao Valley State monument, while those in the healthcare field or in need of services will value the proximity to Maui Memorial Medical Center and surrounding clinics. This central location also makes life easy with public transportation available nearby via the Kahului Transit Center and college bus stops, plus a school bus stop right outside D Building. You’re also next door to UH Maui College and the popular Maui Swap Meet—ideal for students, educators, and savvy shoppers alike. Community amenities include a refreshing swimming pool, BBQ area, children’s playground, on-site security, parcel lockers, and an assigned parking stall for your convenience. This unit comes with a covered parking spot located in front the D Building. Whether you're a first-time homebuyer, investor, or someone looking for a centrally located Maui retreat, this unit offers exceptional value in one of Kahului’s most convenient locations.

Key facts

• Ground floor condo
• Ample closet space
• Covered parking spot

Tags

• GROUND FLOOR CONDO
• SPACIOUS KITCHEN PANTRY
• AMPLE CLOSET SPACE
• GENEROUS LINEN CLOSETS
• ASSIGNED PARKING STALL
• COVERED PARKING SPOT

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $-348 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $78k (43.9% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $78k (43.9% 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: 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.
• Zoned schools: Lihikai Elementary School (math 26% / reading 37%, grade F, #117 of 183 statewide, top 64%, 723 students, 63% FRL); Maui Waena Intermediate School (math 24% / reading 49%, grade F, #19 of 42 statewide, top 46%, 1,044 students, 45% FRL); Maui High School (math 24% / reading 75%, grade D+, #11 of 43 statewide, top 24%, 1,999 students, 36% FRL).
• Market conditions: 62 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $968 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 145 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $669/mo; HOA is 31% 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 $78,495 (43.9% 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 145 days. Have you received any prior offers? Is the seller open to a 44% 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: 1.68% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.82%
• DSCR: 1.44
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -34.5%
• Equity multiple: -0.12×
• Total profit: $-44,060
• Equity at exit: $20,874

10-year hold

• IRR: -39.0%
• Equity multiple: -0.62×
• Total profit: $-63,670
• Equity at exit: $12,105

Cash invested: $39,200 (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: 4.9×

Monthly cashflow live

• Estimated rent: $2,359 high
• Mortgage (P&I): −$734
• Tax from tax record: −$25 /mo · $300/yr
• Insurance: −$58
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$725
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $-348

Break-even live

Break-even rent $2,799

Max offer price $78,495

Occupancy floor —

Sensitivity live

Price	-10% $-269	-5% $-309	+0% $-348	+5% $-388	+10% $-595
Rent	-10% $-534	-5% $-441	+0% $-348	+5% $-255	+10% $-162
Rate	-1.0pp $-278	-0.5pp $-313	base $-348	+0.5pp $-384	+1.0pp $-421

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: $35,000
• Closing costs: $4,200
• 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	25d	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	5d	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	25d	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	25d	1	1.48mi

HOA detail condo

• Monthly dues: $725 · $8,700/yr
• Likely covers: poolsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-03
   days on market $139,999 Active 145 DOM
2. 2026-06-02
   days on market $139,999 Active 144 DOM
3. 2026-06-01
   days on market $139,999 Active 143 DOM
4. 2026-05-31
   days on market $139,999 Active 142 DOM
5. 2026-01-09
   listed $139,999 Active 1648-char remark

   Show marketing remark (1648 chars)

   This is unit is being sold as a short sale.Bright & Cheerful Ground-Floor Condo centrally located in Kahului. Welcome to Harbor Lights – a vibrant condo community where comfort and convenience, come together in perfect harmony. This charming ground-floor 1-bedroom, 1-bath unit offers ease of living with thoughtful features like ceiling fans in both the living room and bedroom, a spacious kitchen pantry, and ample closet space, including generous linen and bedroom closets. Enjoy quick access to local favorites like the Maui Arts & Cultural Center, Costco, Queen Ka'ahumanu Center, and a wide variety of dining options. Outdoor lovers will appreciate being just minutes from 'Iao Valley State monument, while those in the healthcare field or in need of services will value the proximity to Maui Memorial Medical Center and surrounding clinics. This central location also makes life easy with public transportation available nearby via the Kahului Transit Center and college bus stops, plus a school bus stop right outside D Building. You’re also next door to UH Maui College and the popular Maui Swap Meet—ideal for students, educators, and savvy shoppers alike. Community amenities include a refreshing swimming pool, BBQ area, children’s playground, on-site security, parcel lockers, and an assigned parking stall for your convenience. This unit comes with a covered parking spot located in front the D Building. Whether you're a first-time homebuyer, investor, or someone looking for a centrally located Maui retreat, this unit offers exceptional value in one of Kahului’s most convenient locations.

6. 2025-09-12
   historical
7. 2025-08-01
   listed $198,999 Active
8. 2023-10-20
   soldstatus $198,000 Sold
9. 2023-09-18
   status Pending - Do not Show
10. 2023-09-07
    listed $198,000 Active
11. 2015-07-20
    soldstatus $70,000 Sold
12. 2015-07-20
    soldstatus $70,000
13. 2015-06-25
    historical Pending - Continue to Show
14. 2015-06-11
    listed $70,000 Active
15. 2012-05-22
    soldstatus $33,000
16. 2012-03-12
    listed $36,900
17. 2012-03-08
    soldstatus $99,400
18. 2011-06-24
    historical
19. 2011-05-10
    listed $32,918
20. 1979-01-01
    soldstatus $39,900

ⓘ 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: $300 · $25/mo
• Projected year-2 tax: $346 · $29/mo
• Expected delta: +$46/yr (+$4/mo · 15.3%)

ⓘ 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: −$7,842
• − Property taxes: −$300
• − Insurance: −$8,728
• − Repairs & maintenance: −$2,264
• − Management: −$2,264
• − HOA: −$8,700
• − Depreciation: −$4,073
• Taxable loss: −$5,868
• Est. tax savings @ 24.0%: +$1,408
• After-tax cash flow: $-2,770/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

+250.9% since first listed

16 events — show timeline

• 2026-01-09 Listed $139,999 RAM MLS
• 2025-09-12 Listing Removed — RAM MLS
• 2025-08-01 Listed $198,999 RAM MLS
• 2023-10-20 Sold (MLS) $198,000 RAM MLS
• 2023-09-18 Pending — RAM MLS
• 2023-09-07 Listed $198,000 RAM MLS
• 2015-07-20 Sold (Public Records) $70,000 Public Records
• 2015-07-20 Sold (MLS) $70,000 RAM MLS
• 2015-06-25 Contingent — RAM MLS
• 2015-06-11 Listed $70,000 RAM MLS
• 2012-05-22 Sold (MLS) $33,000 RAM MLS
• 2012-03-12 Listed $36,900 RAM MLS
• 2012-03-08 Sold (Public Records) $99,400 Public Records
• 2011-06-24 Listing Removed — RAM MLS
• 2011-05-10 Listed $32,918 RAM MLS
• 1979-01-01 Sold (Public Records) $39,900 Public Records

Property tax history

+1.4%/yr

Latest (2025): $300 · +0.0% YoY. Source: county tax records.