2481 Kaanapali Pkwy Unit 620E · Kaanapali, HI 96761

$93,000

1 bd · 1.0 ba · 901 sqft · Timeshare · 31 Days on market

Built 1974 6.67 ac lot Est $96k · at est. $351/mo HOA · 10% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.7/15.0
• 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

Listing remarks MLS

Whaler Time Interval 620E has a quiet and private location with corridor ocean views from the lanai. This one bedroom apartment was remodeled in 2008 and now features a designer kitchen with granite counters, tile flooring and stainless steel appliances. New furnishings and accessories throughout the unit and to it's casual but luxurious island appeal. Interval date is from Feb 22 to Mar 08. The Whaler is located on Kaanapali Beach, a long stretch of white sand with some of Maui's best shopping and dining. Resort amenities include a beach side pool and hydro-spa, tennis courts, exercise facilities, business center, on-site concierge and activities desk. May be sold together with MLS #359785 or by itself.

Key facts

• Underground parking
• Ocean view pool
• Tile flooring

Tags

• TILE FLOORING
• HARDWOOD CABINETRY
• GRANITE COUNTER TOPS
• STAINLESS STEEL APPLIANCES
• OCEAN VIEW POOL
• UNDERGROUND PARKING

Property features AI

Finance

• Other: Fee simple ownership
• HOA & community: Annual association fee

Exterior

• Utilities: Private water; Underground electric; Public sewer; Phone connected; Cable connected
• Home design: High-rise (4+ stories); Residential income property; Built in 1974
• Construction: Concrete construction; Basement (finished, full)
• Exterior features: Covered lanai/deck; Barbecue; Tennis courts; In-ground pool; Spa / hot tub; Ocean view; Beachfront

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Flooring: Carpet; Tile
• Bathrooms: 1 total bathroom
• Heating & cooling: Central air conditioning
• Interior features: Ceiling fans; Furnished; Cable TV; Exercise room; Drapes
• Laundry & utility: Washer; Dryer; Community laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath timeshare listed at $93k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $93k).
• Recommended offer: $90k (3.0% 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 40% 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 $643 of loan paydown is wiped out by about $3k 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 $26k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $28k; list at $93k implies a 234% 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 $90,210 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 3.60% ✓
• Cap rate: 27.56%
• Cash-on-cash: 75.95%
• DSCR: 4.38
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $95,506
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2481 Kaanapali Pkwy Unit 760 G	0.01mi	1/2.0	905 (+0%)	5mo	$96,000	$106	91
2481 Kaanapali Pkwy Unit 1259G	0.05mi	1/1.0	901 (0%)	11mo	$79,000	$88	88
2481 Kaanapali Pkwy Unit 719 D	0.01mi	1/1.0	901 (0%)	15mo	$105,000	$117	87
2481 Kaanapali Pkwy Unit 157 Z	0.01mi	1/2.0	905 (+0%)	15mo	$25,000	$28	83
2481 Kaanapali Pkwy Unit 610 Z	0.01mi	1/2.0	905 (+0%)	16mo	$75,000	$83	82
2481 Kaanapali Pkwy Unit 901/R	0.05mi	1/2.0	941 (+4%)	11mo	$138,000	$147	77

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: 77.2%
• Equity multiple: 4.59×
• Total profit: $93,464
• Equity at exit: $13,867

10-year hold

• IRR: 81.1%
• Equity multiple: 9.89×
• Total profit: $231,429
• Equity at exit: $8,041

Cash invested: $26,040 (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: 2.3×

Monthly cashflow live

• Estimated rent: $3,344 medium
• Mortgage (P&I): −$488
• Tax est. 1.5%: −$116 /mo · $1,395/yr
• Insurance: −$39
• HOA: −$351
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $1,648

Break-even live

Break-even rent $1,258

Max offer price $93,000

Occupancy floor 46%

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: $23,250
• Closing costs: $2,790
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $351 · $4,212/yr
• Likely covers: pooldoorman

Listing history 18 events

1. 2026-06-18
   days on market $93,000 Active 31 DOM
2. 2026-06-17
   days on market $93,000 Active 30 DOM
3. 2026-06-16
   days on market $93,000 Active 29 DOM
4. 2026-06-15
   days on market $93,000 Active 28 DOM
5. 2026-06-13
   days on market $93,000 Active 26 DOM
6. 2026-06-13
   days on market $93,000 Active 25 DOM
7. 2026-06-10
   days on market $93,000 Active 23 DOM
8. 2026-06-09
   days on market $93,000 Active 22 DOM
9. 2026-06-08
   days on market $93,000 Active 21 DOM
10. 2026-06-07
    days on market $93,000 Active 20 DOM
11. 2026-06-05
    days on market $93,000 Active 17 DOM
12. 2026-06-03
    days on market $93,000 Active 16 DOM
13. 2026-06-02
    days on market $93,000 Active 15 DOM
14. 2026-06-01
    days on market $93,000 Active 14 DOM
15. 2026-05-31
    days on market $93,000 Active 13 DOM
16. 2026-05-18
    listed $93,000 Active
17. 2015-04-22
    soldstatus $27,833 Sold 714-char remark

    Show marketing remark (714 chars)

    Whaler Time Interval 620E has a quiet and private location with corridor ocean views from the lanai. This one bedroom apartment was remodeled in 2008 and now features a designer kitchen with granite counters, tile flooring and stainless steel appliances. New furnishings and accessories throughout the unit and to it's casual but luxurious island appeal. Interval date is from Feb 22 to Mar 08. The Whaler is located on Kaanapali Beach, a long stretch of white sand with some of Maui's best shopping and dining. Resort amenities include a beach side pool and hydro-spa, tennis courts, exercise facilities, business center, on-site concierge and activities desk. May be sold together with MLS #359785 or by itself.

18. 2015-04-03
    listed Pending - Continue to Show 714-char remark

    Show marketing remark (714 chars)

    Whaler Time Interval 620E has a quiet and private location with corridor ocean views from the lanai. This one bedroom apartment was remodeled in 2008 and now features a designer kitchen with granite counters, tile flooring and stainless steel appliances. New furnishings and accessories throughout the unit and to it's casual but luxurious island appeal. Interval date is from Feb 22 to Mar 08. The Whaler is located on Kaanapali Beach, a long stretch of white sand with some of Maui's best shopping and dining. Resort amenities include a beach side pool and hydro-spa, tennis courts, exercise facilities, business center, on-site concierge and activities desk. May be sold together with MLS #359785 or by itself.

ⓘ 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: $40,130
• − Mortgage interest: −$5,209
• − Property taxes: −$1,395
• − Insurance: −$465
• − Repairs & maintenance: −$3,210
• − Management: −$3,210
• − HOA: −$4,212
• − Depreciation: −$2,705
• Taxable income: $19,722
• Est. tax owed @ 24.0%: −$4,733
• After-tax cash flow: $15,045/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

+234.1% since first listed

3 events — show timeline

• 2026-05-18 Listed $93,000 RAM MLS
• 2015-04-22 Sold (MLS) $27,833 RAM MLS
• 2015-04-03 Listed — RAM MLS