3543 Lower Honoapiilani Rd Unit B-401 17B · Napili-Honokowai, HI 96761

$2,500

1 bd · 1.0 ba · 1,015 sqft · Timeshare · 278 Days on market

12 ac lot $2/sqft · 90% below area $211/mo HOA · 6% of rent ↓ 47% since listing

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Why this score? — see what drove the D+ 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 +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.7/10.0
• Rent growth +3.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.2/10.0

Listing remarks MLS

Papakea Time Interval B-401 is a 1 bed 2 bath +Loft unit located in beautiful Papakea. Unit features include a split a/c system that provides cooling of the entire condo. Enjoy all that Papakea has to offer from August 22 to August 29 in 2026. One of Maui's popular vacation spots, Papakea is well known for the many amenities that are available to owners and visitors that include two separate spacious pool areas with BBQs, two covered clubhouses that are available for entertaining your guests, two large jacuzzis, two putting greens, and on site security make this vacation destination a highly sought after place. Lush tropical landscaping and Koi fish ponds are trademarks of Papakea. Located just north of the famous Kaanapali Beach Papakea is close to shopping, beaches, and restaurants. The lofts in timeshare Units B401, B404, F403 and K403, operated and managed by Kaanapali Keys Time Interest Owners’ Association (“TIOA”), may not be permitted or in compliance with current building codes and may be subject to removal, remediation and/or for use only for storage by the County of Maui or the Association of Apartment Owners of Papakea (“AOAO”).

Key facts

• On site security
• Two putting greens
• Two large jacuzzis

Tags

• TWO SPACIOUS POOL AREAS
• TWO COVERED CLUBHOUSES
• TWO LARGE JACUZZIS
• TWO PUTTING GREENS
• ON SITE SECURITY
• LUSH TROPICAL LANDSCAPING

🏷️ Possibly a rental listed for sale. The $2,500 price doesn't fit this home's estimated sale value (~$25,108) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath timeshare listed at $2k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $2k).
• Recommended offer: $2k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — 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.
• Zoned schools: King Kamehameha Iii Elementary School (math 41% / reading 51%, grade D-, #68 of 183 statewide, top 37%, 607 students, 40% FRL); Lahaina Intermediate School (math 19% / reading 42%, grade F, #27 of 42 statewide, top 63%, 647 students, 51% FRL); Lahainaluna High School (math 12% / reading 57%, grade F, #30 of 43 statewide, top 76%, 1,037 students, 46% FRL).
• Market conditions: Rents rising (+4.0%/yr); 640 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 906 units permitted in Maui County in 2024 (289 in 5+ unit buildings).
• This rent runs 42% 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 $17 of loan paydown is wiped out by about $75 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 $700 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 278 days — a 12% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y ago; this cycle's ask has dropped $2k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $669/mo.
• Climate carrying-cost: in FEMA flood zone VE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 278 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 143.16% ✓
• Cap rate: 1253.91%
• Cash-on-cash: 4455.78%
• DSCR: 199.26
• GRM: 0.1

CMA / ARV

• ARV (median comp): $25,108
• List price: $2,500
• Delta: -90.04%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3543 Lower Honoapiilani Rd Unit H-406	0.12mi	2/2.0 (+1)	1,110 (+9%)	8mo	$125,000	$113	63
3543 Lower Honoapiilani Rd Unit K403 13B	0.12mi	2/2.0 (+1)	1,145 (+13%)	3mo	$7,500	$7	62
3543 Lower Honoapiilani Rd Unit K-403 12AB	0.07mi	2/2.0 (+1)	1,145 (+13%)	23mo	$17,000	$15	47

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: 181.93×
• Total profit: $126,652
• Equity at exit: $373

10-year hold

• IRR: —
• Equity multiple: 409.23×
• Total profit: $285,763
• Equity at exit: $216

Cash invested: $700 (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: 640
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $3,579 high
• Mortgage (P&I): −$13
• Tax est. 1.5%: −$3 /mo · $38/yr
• Insurance: −$1
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$211
• Vacancy / Maint / Mgmt: −$752
• Net cashflow: $1,930

Break-even live

Break-even rent $1,136

Max offer price $2,500

Occupancy floor 41%

Sensitivity live

Price	-10% $1,932	-5% $1,931	+0% $1,930	+5% $1,929	+10% $1,928
Rent	-10% $1,647	-5% $1,789	+0% $1,930	+5% $2,072	+10% $2,213
Rate	-1.0pp $1,931	-0.5pp $1,931	base $1,930	+0.5pp $1,930	+1.0pp $1,929

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: $625
• Closing costs: $75
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3626 Lower Honoapiilani Rd Lahaina, HI	2.0	1.0	620	$2,650	$4.27	3d	16	0.15mi
3788 Lower Honoapiilani Rd Unit C102 Lahaina, HI	2.0	2.0	1122	$3,750	$3.34	45d	1	0.45mi
2348 Aina Mahiai Pl Lahaina, HI	2.0	2.0	1015	$7,500	$7.39	45d	1	1.18mi
50 Puu Anoano St #1701 Lahaina, HI	2.0	2.0	1500	$5,500	$3.67	5d	1	1.44mi
4365 Lower Honoapiilani Rd Lahaina, HI	1.0	1.0	800	$4,600	$5.75	13d	1	1.47mi
27 Jillian Ln #631 Lahaina, HI	2.0	2.0	780	$3,550	$4.55	16d	1	1.48mi

HOA detail

• Monthly dues: $211 · $2,532/yr
• Likely covers: landscapingpoolsecurity

Listing history 28 events

1. 2026-06-21
   days on market $2,500 Active 278 DOM
2. 2026-06-18
   days on market $2,500 Active 275 DOM
3. 2026-06-17
   days on market $2,500 Active 274 DOM
4. 2026-06-15
   days on market $2,500 Active 272 DOM
5. 2026-06-13
   days on market $2,500 Active 270 DOM
6. 2026-06-13
   days on market $2,500 Active 269 DOM
7. 2026-06-10
   days on market $2,500 Active 267 DOM
8. 2026-06-09
   days on market $2,500 Active 266 DOM
9. 2026-06-08
   days on market $2,500 Active 265 DOM
10. 2026-06-07
    days on market $2,500 Active 264 DOM
11. 2026-06-05
    days on market $2,500 Active 261 DOM
12. 2026-06-03
    days on market $2,500 Active 260 DOM
13. 2026-06-02
    days on market $2,500 Active 259 DOM
14. 2026-06-01
    days on market $2,500 Active 258 DOM
15. 2026-05-31
    days on market $2,500 Active 257 DOM
16. 2025-11-16
    price $2,500 1187-char remark

    Show marketing remark (1187 chars)

    Papakea Time Interval B-401 is a 1 bed 2 bath +Loft unit located in beautiful Papakea. Unit features include a split a/c system that provides cooling of the entire condo. Enjoy all that Papakea has to offer from August 22 to August 29 in 2026. One of Maui's popular vacation spots, Papakea is well known for the many amenities that are available to owners and visitors that include two separate spacious pool areas with BBQs, two covered clubhouses that are available for entertaining your guests, two large jacuzzis, two putting greens, and on site security make this vacation destination a highly sought after place. Lush tropical landscaping and Koi fish ponds are trademarks of Papakea. Located just north of the famous Kaanapali Beach Papakea is close to shopping, beaches, and restaurants. The lofts in timeshare Units B401, B404, F403 and K403, operated and managed by Kaanapali Keys Time Interest Owners’ Association (“TIOA”), may not be permitted or in compliance with current building codes and may be subject to removal, remediation and/or for use only for storage by the County of Maui or the Association of Apartment Owners of Papakea (“AOAO”).

17. 2025-09-16
    listed $5,000 Active 1187-char remark

    Show marketing remark (1187 chars)

    Papakea Time Interval B-401 is a 1 bed 2 bath +Loft unit located in beautiful Papakea. Unit features include a split a/c system that provides cooling of the entire condo. Enjoy all that Papakea has to offer from August 22 to August 29 in 2026. One of Maui's popular vacation spots, Papakea is well known for the many amenities that are available to owners and visitors that include two separate spacious pool areas with BBQs, two covered clubhouses that are available for entertaining your guests, two large jacuzzis, two putting greens, and on site security make this vacation destination a highly sought after place. Lush tropical landscaping and Koi fish ponds are trademarks of Papakea. Located just north of the famous Kaanapali Beach Papakea is close to shopping, beaches, and restaurants. The lofts in timeshare Units B401, B404, F403 and K403, operated and managed by Kaanapali Keys Time Interest Owners’ Association (“TIOA”), may not be permitted or in compliance with current building codes and may be subject to removal, remediation and/or for use only for storage by the County of Maui or the Association of Apartment Owners of Papakea (“AOAO”).

18. 2025-03-18
    historical
19. 2024-09-26
    price $7,000
20. 2024-01-20
    price $9,000
21. 2023-11-01
    listed $12,500 Active
22. 2023-01-20
    soldstatus $2,500 Sold
23. 2022-07-16
    historical Pending - Continue to Show
24. 2021-10-23
    listed $2,500 Active
25. 2019-10-18
    historical
26. 2018-10-29
    listed $2,500 Active
27. 2014-04-30
    soldstatus $4,250
28. 2013-08-02
    listed $4,750

ⓘ 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 9/10 Extreme FEMA zone VE · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $42,949
• − Mortgage interest: −$140
• − Property taxes: −$38
• − Insurance: −$8,040
• − Repairs & maintenance: −$3,436
• − Management: −$3,436
• − HOA: −$2,532
• − Depreciation: −$73
• Taxable income: $25,254
• Est. tax owed @ 24.0%: −$6,061
• After-tax cash flow: $17,101/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
• 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

-47.4% since first listed

13 events — show timeline

• 2025-11-16 Price Changed $2,500 RAM MLS
• 2025-09-16 Listed $5,000 RAM MLS
• 2025-03-18 Listing Removed — RAM MLS
• 2024-09-26 Price Changed $7,000 RAM MLS
• 2024-01-20 Price Changed $9,000 RAM MLS
• 2023-11-01 Listed $12,500 RAM MLS
• 2023-01-20 Sold (MLS) $2,500 RAM MLS
• 2022-07-16 Contingent — RAM MLS
• 2021-10-23 Listed $2,500 RAM MLS
• 2019-10-18 Listing Removed — RAM MLS
• 2018-10-29 Listed $2,500 RAM MLS
• 2014-04-30 Sold (MLS) $4,250 RAM MLS
• 2013-08-02 Listed $4,750 RAM MLS