2481 Kaanapali Pkwy Unit 1259M · Kaanapali, HI 96761

$69,900

1 bd · 1.0 ba · 901 sqft · Timeshare · 37 Days on market

Built 1976 6.67 ac lot $78/sqft · 21% below area Est $88k · 21% under $375/mo HOA · 11% 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 +15.0/30.0
• ARV discount +15.0/15.0
• 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

Listing remarks

WTIO 1259M - Enjoy 2 weeks of Summer. Penthouse location in Tower II at The Whaler on Kaanapali Beach. This unit offers exquisite ocean and mountain views with Lanai in the backdrop The condo was renovated in 2013 which included new tile flooring, hardwood cabinetry, granite counter tops, stainless steel appliances, and fully remodeled bathroom. Fully stocked kitchen for easy meal preparation and full set of linens and towels and a fully remodeled bathroom. Enjoy this interval from June 10 to June 24 every year. The annual maintenance fees offer ease of payment with a portion billed in February and the balance due around October. Fees include property taxes, grounds, building and unit maint

Key facts

• New tile flooring
• Penthouse location
• Renovated in 2013

Tags

• PENTHOUSE LOCATION
• OCEAN AND MOUNTAIN VIEWS
• RENOVATED IN 2013
• NEW TILE FLOORING
• HARDWOOD CABINETRY
• GRANITE COUNTER TOPS

Property features AI

Finance

• Other: Association fee: annually
• Financial info: Short term lease allowed; Fee simple
• HOA & community: Annual association fee; Pets not allowed

Exterior

• Utilities: Private water; Underground electric; Public sewer; Phone connected; Cable connected
• Home design: Residential income property; High-rise (4+ stories); Whaler II building; Built in 1976, effectively updated in 2013
• Construction: Stucco and concrete construction; Finished basement; Pitch and gravel roof; Basement foundation
• Exterior features: Covered lanai/deck; Tennis courts; Barbecue; Ocean view; Beachfront

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Flooring: Carpet; Tile
• Bathrooms: 1 bathroom
• Heating & cooling: Central air conditioning
• Interior features: Ceiling fans; Furnished; TV cable; Exercise room; Sauna; 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 $70k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $70k).
• Recommended offer: $68k (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 $483 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 $20k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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 $42k; list at $70k implies a 66% 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 $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1976 — 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: 4.78% ✓
• Cap rate: 36.92%
• Cash-on-cash: 109.37%
• DSCR: 5.87
• GRM: 1.7

CMA / ARV

• ARV (median comp): $88,221
• List price: $69,900
• Delta: -20.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2481 Kaanapali Pkwy Unit 760 G	0.02mi	1/2.0	905 (+0%)	5mo	$96,000	$106	90
2481 Kaanapali Pkwy Unit 1259G	0.06mi	1/1.0	901 (0%)	11mo	$79,000	$88	88
2481 Kaanapali Pkwy Unit 719 D	0.02mi	1/1.0	901 (0%)	15mo	$105,000	$117	87
2481 Kaanapali Pkwy Unit 157 Z	0.02mi	1/2.0	905 (+0%)	15mo	$25,000	$28	82
2481 Kaanapali Pkwy Unit 610 Z	0.02mi	1/2.0	905 (+0%)	16mo	$75,000	$83	81
2481 Kaanapali Pkwy Unit 901/R	0.06mi	1/2.0	941 (+4%)	11mo	$138,000	$147	76

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: 6.41×
• Total profit: $105,861
• Equity at exit: $10,422

10-year hold

• IRR: —
• Equity multiple: 13.95×
• Total profit: $253,408
• Equity at exit: $6,044

Cash invested: $19,572 (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: 1.7×

Monthly cashflow live

• Estimated rent: $3,344 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$375
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $1,784

Break-even live

Break-even rent $1,086

Max offer price $69,900

Occupancy floor 42%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $375 · $4,500/yr
• Likely covers: landscaping

Listing history 31 events

1. 2026-06-18
   days on market $69,900 Active 37 DOM
2. 2026-06-17
   days on market $69,900 Active 36 DOM
3. 2026-06-16
   days on market $69,900 Active 35 DOM
4. 2026-06-15
   days on market $69,900 Active 34 DOM
5. 2026-06-13
   days on market $69,900 Active 32 DOM
6. 2026-06-13
   days on market $69,900 Active 31 DOM
7. 2026-06-10
   days on market $69,900 Active 29 DOM
8. 2026-06-09
   days on market $69,900 Active 28 DOM
9. 2026-06-08
   days on market $69,900 Active 27 DOM
10. 2026-06-07
    days on market $69,900 Active 26 DOM
11. 2026-06-05
    days on market $69,900 Active 23 DOM
12. 2026-06-03
    days on market $69,900 Active 22 DOM
13. 2026-06-02
    days on market $69,900 Active 21 DOM
14. 2026-06-01
    days on market $69,900 Active 20 DOM
15. 2026-05-31
    days on market $69,900 Active 19 DOM
16. 2026-05-12
    listed $69,900 Active 1339-char remark
17. 2026-04-11
    historical
18. 2025-04-10
    listed $79,500 Active
19. 2025-03-04
    historical
20. 2025-01-04
    price $79,500
21. 2024-06-27
    price $83,000
22. 2024-06-16
    price $85,000
23. 2024-06-14
    price $87,000
24. 2024-04-22
    price $89,000
25. 2024-03-02
    listed $95,000 Active
26. 2023-02-06
    soldstatus $42,000 Sold
27. 2023-01-06
    historical Pending - Continue to Show
28. 2023-01-02
    listed $49,975 Active
29. 2019-10-03
    soldstatus $22,000 Sold
30. 2019-09-07
    status Pending - Do not Show
31. 2019-09-05
    listed $22,000 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 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: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$3,210
• − Management: −$3,210
• − HOA: −$4,500
• − Depreciation: −$2,033
• Taxable income: $21,862
• Est. tax owed @ 24.0%: −$5,247
• After-tax cash flow: $16,159/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

+217.7% since first listed

16 events — show timeline

• 2026-05-12 Listed $69,900 RAM MLS
• 2026-04-11 Listing Removed — RAM MLS
• 2025-04-10 Listed $79,500 RAM MLS
• 2025-03-04 Listing Removed — RAM MLS
• 2025-01-04 Price Changed $79,500 RAM MLS
• 2024-06-27 Price Changed $83,000 RAM MLS
• 2024-06-16 Price Changed $85,000 RAM MLS
• 2024-06-14 Price Changed $87,000 RAM MLS
• 2024-04-22 Price Changed $89,000 RAM MLS
• 2024-03-02 Listed $95,000 RAM MLS
• 2023-02-06 Sold (MLS) $42,000 RAM MLS
• 2023-01-06 Contingent — RAM MLS
• 2023-01-02 Listed $49,975 RAM MLS
• 2019-10-03 Sold (MLS) $22,000 RAM MLS
• 2019-09-07 Pending — RAM MLS
• 2019-09-05 Listed $22,000 RAM MLS