3676 Lower Honoapiilani Rd Unit G304 · Napili-Honokowai, HI 96761-9329

$180,000

2 bd · 1.0 ba · 658 sqft · Condo public records · 66 Days on market

Built 1978 $274/sqft · 28% below area Est $248k · 28% under $1074/mo HOA · 38% 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).

• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Cash flow +9.9/30.0
• Appreciation +5.0/10.0
• Schools +3.7/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Affordable West Maui Condominium – Renovated & Move-In Ready! Enjoy West Maui living in this bright, top-floor 2-bedroom, 1-bath Condo located directly across from Honokowai Beach Park. This two-story layout offers great functionality with both bedrooms and the full bath upstairs, and an inviting living room and kitchen on the main level. The unit features a kitchen, newer appliances, in-unit washer/dryer, and an assigned parking stall. Hawaiian Telcom provides Advantage Plus TV and Eero wireless. Offered unfurnished and move-in ready, this property works well as a personal Maui retreat or long-term rental investment. Conveniently located minutes from Kaanapali’s world-class golf, shopping, dining, and ocean activities. The bus stop is nearby, along with local eateries, a bakery, salon, and neighborhood shops. This leasehold property was built in 1978. This is an excellent opportunity to own an updated, affordable West Maui condominium. Opportunities like this don’t come often. Schedule your showing today!

Key facts

• Two-story layout
• In-unit washer dryer
• Nearby bus stop

Tags

• TOP-FLOOR
• TWO-STORY LAYOUT
• IN-UNIT WASHER DRYER
• ASSIGNED PARKING STALL
• MINUTES FROM KAANAPALI
• NEARBY BUS STOP

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $160k (10.9% below list).
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $160k (10.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade C — 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: 2 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 906 units permitted in Maui County in 2024 (289 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Maui County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y 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.
• Current owner paid $110k; list at $180k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,389 (10.9% 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 66 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.55% ✓
• Cap rate: 5.55%
• Cash-on-cash: -2.64%
• DSCR: 0.88
• GRM: 5.4

CMA / ARV

• ARV (median comp): $248,354
• List price: $180,000
• Delta: -27.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.3%
• Equity multiple: 1.30×
• Total profit: $15,317
• Equity at exit: $80,936

10-year hold

• IRR: 8.5%
• Equity multiple: 2.30×
• Total profit: $65,428
• Equity at exit: $124,732

Cash invested: $50,400 (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 96761-9329

• Active inventory: 2
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,796 high
• Mortgage (P&I): −$944
• Tax from tax record: −$227 /mo · $2,721/yr
• Insurance: −$75
• HOA: −$1,074
• Vacancy / Maint / Mgmt: −$587
• Net cashflow: $-111

Break-even live

Break-even rent $2,936

Max offer price $160,389

Occupancy floor 99%

Sensitivity live

Price	-10% $-9	-5% $-60	+0% $-111	+5% $-162	+10% $-213
Rent	-10% $-332	-5% $-221	+0% $-111	+5% $-1	+10% $110
Rate	-1.0pp $-20	-0.5pp $-65	base $-111	+0.5pp $-158	+1.0pp $-205

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3676 Lower Honoapiilani Rd Unit D102 Lahaina, HI	2.0	1.0	658	$2,700	$4.10	17d	1	0.01mi
3702 Lower Honoapiilani Rd Unit A-33 Lahaina, HI	1.0	1.0	607	$2,700	$4.45	44d	1	0.04mi
3626 Lower Honoapiilani Rd Lahaina, HI	2.0	1.0	620	$3,500	$5.65	2d	16	0.11mi
3740 Lower Honoapiilani Rd Lahaina, HI	1.0	1.0	476	$2,500	$5.25	4d	2	0.13mi
3740 Lower Honoapiilani Rd Lahaina, HI	1.0	1.0	476	$2,500	$5.25	3d	2	0.13mi
3559 Lower Honoapiilani Rd Lahaina, HI	1.0	1.0	562	$2,600	$4.63	24d	1	0.23mi

HOA detail condo

• Monthly dues: $1,074 · $12,888/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $180,000 Active 66 DOM
2. 2026-06-17
   days on market $180,000 Active 65 DOM
3. 2026-06-16
   days on market $180,000 Active 64 DOM
4. 2026-06-15
   days on market $180,000 Active 63 DOM
5. 2026-06-13
   days on market $180,000 Active 61 DOM
6. 2026-06-13
   days on market $180,000 Active 60 DOM
7. 2026-06-10
   days on market $180,000 Active 58 DOM
8. 2026-06-09
   days on market $180,000 Active 57 DOM
9. 2026-06-08
   days on market $180,000 Active 56 DOM
10. 2026-06-07
    days on market $180,000 Active 55 DOM
11. 2026-06-05
    days on market $180,000 Active 52 DOM
12. 2026-06-03
    days on market $180,000 Active 51 DOM
13. 2026-06-02
    days on market $180,000 Active 50 DOM
14. 2026-06-01
    days on market $180,000 Active 49 DOM
15. 2026-05-31
    days on market $180,000 Active 48 DOM
16. 2026-04-03
    listed $180,000 Active 1049-char remark

    Show marketing remark (1049 chars)

    Affordable West Maui Condominium – Renovated & Move-In Ready! Enjoy West Maui living in this bright, top-floor 2-bedroom, 1-bath Condo located directly across from Honokowai Beach Park. This two-story layout offers great functionality with both bedrooms and the full bath upstairs, and an inviting living room and kitchen on the main level. The unit features a kitchen, newer appliances, in-unit washer/dryer, and an assigned parking stall. Hawaiian Telcom provides Advantage Plus TV and Eero wireless. Offered unfurnished and move-in ready, this property works well as a personal Maui retreat or long-term rental investment. Conveniently located minutes from Kaanapali’s world-class golf, shopping, dining, and ocean activities. The bus stop is nearby, along with local eateries, a bakery, salon, and neighborhood shops. This leasehold property was built in 1978. This is an excellent opportunity to own an updated, affordable West Maui condominium. Opportunities like this don’t come often. Schedule your showing today!

17. 2004-05-12
    soldstatus $110,000
18. 2004-03-11
    listed $115,000
19. 2003-03-20
    soldstatus $62,500
20. 2002-09-30
    soldstatus $270,000
21. 2002-07-20
    listed $59,900
22. 1979-05-01
    soldstatus $75,000

ⓘ 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: $2,721 · $227/mo
• Projected year-2 tax: $2,721 · $227/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $33,550
• − Mortgage interest: −$10,083
• − Property taxes: −$2,721
• − Insurance: −$900
• − Repairs & maintenance: −$2,684
• − Management: −$2,684
• − HOA: −$12,888
• − Depreciation: −$5,236
• Taxable loss: −$3,647
• Est. tax savings @ 24.0%: +$875
• After-tax cash flow: $-457/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+140.0% since first listed

7 events — show timeline

• 2026-04-03 Listed $180,000 RAM MLS
• 2004-05-12 Sold (Public Records) $110,000 Public Records
• 2004-03-11 Listed $115,000 RAM MLS
• 2003-03-20 Sold (Public Records) $62,500 Public Records
• 2002-09-30 Sold (Public Records) $270,000 Public Records
• 2002-07-20 Listed $59,900 RAM MLS
• 1979-05-01 Sold (Public Records) $75,000 Public Records

Property tax history

+10.6%/yr

Latest (2025): $2,721 · -10.7% YoY. Source: county tax records.