2481 Kaanapali Pkwy Unit 520 K · Kaanapali, HI 96761

$55,000

1 bd · 1.0 ba · 901 sqft · Condo public records · 196 Days on market

Built 1975 $61/sqft · 40% below area Est $92k · 40% under $261/mo HOA · 8% 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 MLS

520A December 20 - January 11: RARE Opportunity to spend 22 nights at The Whaler every Christmas and into the new year. Located on the north side of Tower 1, the owners of Whaler 520 enjoy a wonderful view of the golden sands of Kaanapali Beach. This side of the resort is preferred by many for its quiet atmosphere away from the resort courtyard or Whalers Village. Play all day at the beach, then retreat to your beach house with your lanai in shade all afternoon. The 1BD/1BA floorplans offer 900 square feet of living space with an additional 200 sq. ft. lanai. Updated kitchen offers granite countertops and top-of-the-line appliances. Bathroom offers an enlarged vanity and dressing area and a glass shower. Time Interval Ownership at The Whaler on Kaanapali Beach is a carefree way to own property within the premier beachfront resort in West Maui.

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 $55k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $55k).
• Recommended offer: $48k (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 $380 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 $15k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 196 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 22y ago; this cycle's ask has dropped $114k (67%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 196 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. 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.
8. 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.
9. 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: 6.22% ✓
• Cap rate: 51.23%
• Cash-on-cash: 160.50%
• DSCR: 8.14
• GRM: 1.3

CMA / ARV

• ARV (median comp): $91,636
• List price: $55,000
• Delta: -39.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

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: 9.17×
• Total profit: $125,851
• Equity at exit: $8,201

10-year hold

• IRR: —
• Equity multiple: 20.06×
• Total profit: $293,469
• Equity at exit: $4,755

Cash invested: $15,400 (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

• Home prices YoY: -1.9%
• Rents YoY: 4.0%
• Active inventory: 637
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $3,419 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$261
• Vacancy / Maint / Mgmt: −$718
• Net cashflow: $2,060

Break-even live

Break-even rent $812

Max offer price $55,000

Occupancy floor 35%

Sensitivity live

Price	-10% $2,098	-5% $2,079	+0% $2,060	+5% $2,041	+10% $2,022
Rent	-10% $1,790	-5% $1,925	+0% $2,060	+5% $2,195	+10% $2,330
Rate	-1.0pp $2,087	-0.5pp $2,074	base $2,060	+0.5pp $2,045	+1.0pp $2,031

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $261 · $3,132/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $55,000 Active 196 DOM
2. 2026-06-17
   days on market $55,000 Active 195 DOM
3. 2026-06-15
   days on market $55,000 Active 193 DOM
4. 2026-06-13
   days on market $55,000 Active 191 DOM
5. 2026-06-13
   days on market $55,000 Active 190 DOM
6. 2026-06-10
   days on market $55,000 Active 188 DOM
7. 2026-06-09
   days on market $55,000 Active 187 DOM
8. 2026-06-08
   pricedays on market $55,000 Active 186 DOM
9. 2026-06-07
   days on market $64,500 Active 185 DOM
10. 2026-06-05
    days on market $64,500 Active 182 DOM
11. 2026-06-03
    days on market $64,500 Active 181 DOM
12. 2026-06-02
    days on market $64,500 Active 180 DOM
13. 2026-06-01
    days on market $64,500 Active 179 DOM
14. 2026-05-31
    days on market $64,500 Active 178 DOM
15. 2026-02-27
    soldstatus $164,000 Sold 863-char remark

    Show marketing remark (863 chars)

    520A December 20 - January 11: RARE Opportunity to spend 22 nights at The Whaler every Christmas and into the new year. Located on the north side of Tower 1, the owners of Whaler 520 enjoy a wonderful view of the golden sands of Kaanapali Beach. This side of the resort is preferred by many for its quiet atmosphere away from the resort courtyard or Whalers Village. Play all day at the beach, then retreat to your beach house with your lanai in shade all afternoon. The 1BD/1BA floorplans offer 900 square feet of living space with an additional 200 sq. ft. lanai. Updated kitchen offers granite countertops and top-of-the-line appliances. Bathroom offers an enlarged vanity and dressing area and a glass shower. Time Interval Ownership at The Whaler on Kaanapali Beach is a carefree way to own property within the premier beachfront resort in West Maui.

16. 2026-01-22
    status Pending - Do not Show 863-char remark

    Show marketing remark (863 chars)

    520A December 20 - January 11: RARE Opportunity to spend 22 nights at The Whaler every Christmas and into the new year. Located on the north side of Tower 1, the owners of Whaler 520 enjoy a wonderful view of the golden sands of Kaanapali Beach. This side of the resort is preferred by many for its quiet atmosphere away from the resort courtyard or Whalers Village. Play all day at the beach, then retreat to your beach house with your lanai in shade all afternoon. The 1BD/1BA floorplans offer 900 square feet of living space with an additional 200 sq. ft. lanai. Updated kitchen offers granite countertops and top-of-the-line appliances. Bathroom offers an enlarged vanity and dressing area and a glass shower. Time Interval Ownership at The Whaler on Kaanapali Beach is a carefree way to own property within the premier beachfront resort in West Maui.

17. 2026-01-14
    listed $169,000 Active 863-char remark

    Show marketing remark (863 chars)

    520A December 20 - January 11: RARE Opportunity to spend 22 nights at The Whaler every Christmas and into the new year. Located on the north side of Tower 1, the owners of Whaler 520 enjoy a wonderful view of the golden sands of Kaanapali Beach. This side of the resort is preferred by many for its quiet atmosphere away from the resort courtyard or Whalers Village. Play all day at the beach, then retreat to your beach house with your lanai in shade all afternoon. The 1BD/1BA floorplans offer 900 square feet of living space with an additional 200 sq. ft. lanai. Updated kitchen offers granite countertops and top-of-the-line appliances. Bathroom offers an enlarged vanity and dressing area and a glass shower. Time Interval Ownership at The Whaler on Kaanapali Beach is a carefree way to own property within the premier beachfront resort in West Maui.

18. 2025-11-20
    listed $64,500 Active 24-char remark

    Show marketing remark (24 chars)

    TIO 520-K MAY 3 - MAY 17

19. 2019-11-25
    soldstatus $15,000 Sold
20. 2019-10-27
    status Pending - Continue to Show
21. 2019-10-26
    historical
22. 2019-05-31
    soldstatus $9,000 Sold
23. 2019-04-25
    price $17,000
24. 2019-03-25
    historical Pending - Continue to Show
25. 2018-10-08
    listed $18,000 Active
26. 2018-07-21
    price $11,500
27. 2018-06-02
    historical
28. 2018-04-24
    price $15,500
29. 2018-02-10
    price $17,500
30. 2017-11-25
    price $21,700
31. 2017-06-24
    listed $18,500 Active
32. 2017-05-09
    listed $22,700 Active
33. 2016-11-25
    historical
34. 2016-09-22
    soldstatus $17,000
35. 2016-08-09
    listed $17,000
36. 2016-04-11
    soldstatus $21,500 Sold
37. 2016-02-25
    soldstatus $11,500 Sold
38. 2016-02-20
    status Pending - Do not Show
39. 2016-01-17
    historical Pending - Continue to Show
40. 2015-11-23
    listed $23,500 Active
41. 2015-11-23
    listed $23,500 Active
42. 2015-08-21
    listed $16,000 Active
43. 2013-09-04
    soldstatus $20,000
44. 2012-12-14
    soldstatus $16,500
45. 2012-11-18
    listed $26,500
46. 2012-07-25
    listed $18,900
47. 2012-02-16
    soldstatus $27,000
48. 2012-01-01
    historical
49. 2010-12-15
    listed $30,000
50. 2009-04-06
    listed $23,000

ⓘ 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: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$3,282
• − Management: −$3,282
• − HOA: −$3,132
• − Depreciation: −$1,600
• Taxable income: $25,548
• Est. tax owed @ 24.0%: −$6,131
• After-tax cash flow: $18,585/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

+110.3% since first listed

41 events — show timeline

• 2026-02-27 Sold (MLS) $164,000 RAM MLS
• 2026-01-22 Pending — RAM MLS
• 2026-01-14 Listed $169,000 RAM MLS
• 2025-11-20 Listed $64,500 RAM MLS
• 2019-11-25 Sold (MLS) $15,000 RAM MLS
• 2019-10-27 Relisted — RAM MLS
• 2019-10-26 Listing Removed — RAM MLS
• 2019-05-31 Sold (MLS) $9,000 RAM MLS
• 2019-04-25 Price Changed $17,000 RAM MLS
• 2019-03-25 Contingent — RAM MLS
• 2018-10-08 Listed $18,000 RAM MLS
• 2018-07-21 Price Changed $11,500 RAM MLS
• 2018-06-02 Listing Removed — RAM MLS
• 2018-04-24 Price Changed $15,500 RAM MLS
• 2018-02-10 Price Changed $17,500 RAM MLS
• 2017-11-25 Price Changed $21,700 RAM MLS
• 2017-06-24 Listed $18,500 RAM MLS
• 2017-05-09 Listed $22,700 RAM MLS
• 2016-11-25 Listing Removed — RAM MLS
• 2016-09-22 Sold (MLS) $17,000 RAM MLS
• 2016-08-09 Listed $17,000 RAM MLS
• 2016-04-11 Sold (MLS) $21,500 RAM MLS
• 2016-02-25 Sold (MLS) $11,500 RAM MLS
• 2016-02-20 Pending — RAM MLS
• 2016-01-17 Contingent — RAM MLS
• 2015-11-23 Listed $23,500 RAM MLS
• 2015-11-23 Listed $23,500 RAM MLS
• 2015-08-21 Listed $16,000 RAM MLS
• 2013-09-04 Sold (MLS) $20,000 RAM MLS
• 2012-12-14 Sold (MLS) $16,500 RAM MLS
• 2012-11-18 Listed $26,500 RAM MLS
• 2012-07-25 Listed $18,900 RAM MLS
• 2012-02-16 Sold (MLS) $27,000 RAM MLS
• 2012-01-01 Listing Removed — RAM MLS
• 2010-12-15 Listed $30,000 RAM MLS
• 2009-04-06 Listed $23,000 RAM MLS
• 2005-12-26 Listing Removed — RAM MLS
• 2005-03-26 Listed $24,000 RAM MLS
• 2004-07-21 Listed $20,000 RAM MLS
• 1990-12-28 Sold (Public Records) $537,900 Public Records
• 1976-01-01 Sold (Public Records) $78,000 Public Records

Property tax history

+11.6%/yr

Latest (2025): $21,219 · +29.5% YoY. Source: county tax records.