2481 Kaanapali Pkwy Unit 520/L · Kaanapali, HI 96761

$40,000

1 bd · 1.0 ba · 901 sqft · Timeshare · 455 Days on market

Built 1975 6.67 ac lot $44/sqft · 56% below area $316/mo HOA · 9% of rent

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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
• 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

TIO 520 L May 31 - June 14 Annual Occupancy: Celebrate Summer on Kaanapali Beach every year. Whaler 520 is a on 1 bedroom, 1 bath condominium on the north side of Tower 1. Play all day at the beach then relax in your beach house with shade all afternoon. The 1BD/1BA floorplans offers a generous vanity area and the convenience of a washer/dryer to make it really feel like home.

Key facts

• Beach house
• Generous vanity area
• Washer dryer

Tags

• BEACH HOUSE
• GENEROUS VANITY AREA
• WASHER DRYER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath timeshare listed at $40k.

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 $40k).
• Recommended offer: $35k (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 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 $277 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 455 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

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

Recommended offer $35,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 455 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. 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: 8.36% ✓
• Cap rate: 67.78%
• Cash-on-cash: 219.58%
• DSCR: 10.77
• GRM: 1.0

CMA / ARV

• ARV (median comp): $91,636
• List price: $40,000
• Delta: -56.35%
• 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	0.00mi	1/2.0	905 (+0%)	5mo	$96,000	$106	91
2481 Kaanapali Pkwy Unit 1259G	0.04mi	1/1.0	901 (0%)	11mo	$79,000	$88	89
2481 Kaanapali Pkwy Unit 719 D	0.00mi	1/1.0	901 (0%)	15mo	$105,000	$117	87
2481 Kaanapali Pkwy Unit 157 Z	0.00mi	1/2.0	905 (+0%)	15mo	$25,000	$28	83
2481 Kaanapali Pkwy Unit 610 Z	0.00mi	1/2.0	905 (+0%)	16mo	$75,000	$83	82
2481 Kaanapali Pkwy Unit 901/R	0.04mi	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: —
• Equity multiple: 12.39×
• Total profit: $127,588
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 27.25×
• Total profit: $293,965
• Equity at exit: $3,458

Cash invested: $11,200 (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: 1.0×

Monthly cashflow live

• Estimated rent: $3,344 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$316
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $2,049

Break-even live

Break-even rent $750

Max offer price $40,000

Occupancy floor 34%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $316 · $3,792/yr

Listing history 17 events

1. 2026-06-18
   days on market $40,000 Active 455 DOM
2. 2026-06-17
   days on market $40,000 Active 454 DOM
3. 2026-06-15
   days on market $40,000 Active 452 DOM
4. 2026-06-13
   days on market $40,000 Active 450 DOM
5. 2026-06-13
   days on market $40,000 Active 449 DOM
6. 2026-06-10
   days on market $40,000 Active 447 DOM
7. 2026-06-09
   days on market $40,000 Active 446 DOM
8. 2026-06-08
   days on market $40,000 Active 445 DOM
9. 2026-06-07
   days on market $40,000 Active 444 DOM
10. 2026-06-05
    days on market $40,000 Active 441 DOM
11. 2026-06-03
    days on market $40,000 Active 440 DOM
12. 2026-06-02
    days on market $40,000 Active 439 DOM
13. 2026-06-01
    days on market $40,000 Active 438 DOM
14. 2026-05-31
    days on market $40,000 Active 437 DOM
15. 2026-03-21
    status Active 383-char remark

    Show marketing remark (383 chars)

    TIO 520 L May 31 - June 14 Annual Occupancy: Celebrate Summer on Kaanapali Beach every year. Whaler 520 is a on 1 bedroom, 1 bath condominium on the north side of Tower 1. Play all day at the beach then relax in your beach house with shade all afternoon. The 1BD/1BA floorplans offers a generous vanity area and the convenience of a washer/dryer to make it really feel like home.

16. 2026-03-20
    historical 383-char remark

    Show marketing remark (383 chars)

    TIO 520 L May 31 - June 14 Annual Occupancy: Celebrate Summer on Kaanapali Beach every year. Whaler 520 is a on 1 bedroom, 1 bath condominium on the north side of Tower 1. Play all day at the beach then relax in your beach house with shade all afternoon. The 1BD/1BA floorplans offers a generous vanity area and the convenience of a washer/dryer to make it really feel like home.

17. 2025-03-19
    listed $40,000 Active 383-char remark

    Show marketing remark (383 chars)

    TIO 520 L May 31 - June 14 Annual Occupancy: Celebrate Summer on Kaanapali Beach every year. Whaler 520 is a on 1 bedroom, 1 bath condominium on the north side of Tower 1. Play all day at the beach then relax in your beach house with shade all afternoon. The 1BD/1BA floorplans offers a generous vanity area and the convenience of a washer/dryer to make it really feel like home.

ⓘ 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: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$3,210
• − Management: −$3,210
• − HOA: −$3,792
• − Depreciation: −$1,164
• Taxable income: $25,713
• Est. tax owed @ 24.0%: −$6,171
• After-tax cash flow: $18,422/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

3 events — show timeline

• 2026-03-21 Relisted — RAM MLS
• 2026-03-20 Listing Removed — RAM MLS
• 2025-03-19 Listed $40,000 RAM MLS