111 Kahului Beach Rd Unit D221 · Kahului, HI 96732

$149,000

2 bd · 1.5 ba · 787 sqft · Condo public records · 3 Days on market

Built 1974 $1241/mo HOA · 45% 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 +12.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity as an investment property or to simply own a condo near the ocean. Centrally located in Kahului and conveniently near shopping malls, restaurants, public transportation as well being within walking distance to the UH Maui College Campus. This remodeled 2bd/1.5 bath has a view of the ocean from the living room and the bedroom! Tastefully redone with new paint, grey tile flooring through out, newer kitchen appliances, cabinetry and an open living concept great for entertaining. On hot summer days take a dip in the shared pool while grilling down at the BBQ grills or simply walk across the street to jump into the cool ocean waters. The maintenance fees include water, sewer, trash, cable, on-site security, on-site management and all the common areas.

Key facts

• On-site security
• Steps from the ocean
• Tile flooring

Tags

• REMODELED CONDO
• ASSIGNED PARKING STALL
• STEPS FROM THE OCEAN
• TILE FLOORING
• ACCESS TO A POOL
• ON-SITE SECURITY

Property features AI

Finance

• HOA & community: Monthly association fee

Exterior

• Utilities: Cable connected; Public water
• Home design: Residential condominium; Attached unit; Located in Harbor Lights
• Construction: Concrete construction; Originally built in 1974, effectively updated in 2021; Solar energy generation
• Exterior features: In-ground pool; Across the street from the ocean; Mountain and ocean views; Public water

Interior

• Kitchen: Microwave; Refrigerator
• Bathrooms: 2 bathrooms total
• Heating & cooling: No central air conditioning
• Interior features: Furnished; Drapes

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $149k.

Deal economics

• At list price, monthly cash flow is $-705 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $29k (80.3% below list).
• Meets the 1% rule at list price ($3k rent vs $149k).
• Recommended offer: $29k (80.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 74/100 on livability (#17 in HI, #4,968 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: 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.
• Zoned schools: Wailuku Elementary School (math 18% / reading 35%, grade F, #143 of 183 statewide, top 78%, 562 students, 64% FRL); Iao Intermediate School (math 17% / reading 43%, grade F, #28 of 42 statewide, top 66%, 780 students, 50% FRL); Henry Perrine Baldwin High School (math 30% / reading 57%, grade F, #23 of 43 statewide, top 52%, 1,338 students, 43% FRL).
• Market conditions: 62 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 906 units permitted in Maui County in 2024 (289 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $669/mo; HOA is 45% of rent.
• Climate carrying-cost: in FEMA flood zone VE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,303 (80.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 1.84% ✓
• Cap rate: 6.00%
• Cash-on-cash: -1.04%
• DSCR: 0.95
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -56.2%
• Equity multiple: -0.63×
• Total profit: $-67,879
• Equity at exit: $22,216

10-year hold

• IRR: —
• Equity multiple: -1.69×
• Total profit: $-112,160
• Equity at exit: $12,883

Cash invested: $41,720 (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 96732

• Home prices YoY: -4.7%
• Active inventory: 62
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,747 high
• Mortgage (P&I): −$781
• Tax from tax record: −$122 /mo · $1,465/yr
• Insurance: −$62
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$1,241
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $-705

Break-even live

Break-even rent $3,640

Max offer price $29,303

Occupancy floor —

Sensitivity live

Price	-10% $-621	-5% $-663	+0% $-705	+5% $-747	+10% $-789
Rent	-10% $-922	-5% $-814	+0% $-705	+5% $-597	+10% $-488
Rate	-1.0pp $-630	-0.5pp $-667	base $-705	+0.5pp $-744	+1.0pp $-783

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
111 Kahului Beach Rd Kahului, HI	2.0	1.5	800	$2,875	$3.59	5d	1	0.01mi
111 Kahului Beach Rd Unit A104 Kahului, HI	2.0	1.5	787	$2,399	$3.05	18d	1	0.02mi
111 Kahului Beach Rd Unit D126 Kahului, HI	2.0	1.5	787	$2,950	$3.75	45d	1	0.02mi
434 Aleo Pl Kahului, HI	2.0	1.0	600	$2,500	$4.17	45d	1	0.55mi
432 Aleo Pl Kahului, HI	3.0	1.0	864	$3,000	$3.47	45d	1	0.55mi
91 Alehela St Kahului, HI	3.0	1.0	750	$2,750	$3.67	19d	1	0.61mi
529 Pio Dr Unit 2 Wailuku, HI	1.0	1.0	525	$1,650	$3.14	45d	1	1.03mi
493 Pio Dr #202 Wailuku, HI	1.0	1.0	586	$2,900	$4.95	25d	1	1.04mi
1063 Lower Main St #402 Wailuku, HI	2.0	1.5	757	$2,800	$3.70	45d	1	1.08mi
1371 Lower Main St Unit 8 Wailuku, HI	2.0	1.0	651	$2,850	$4.38	45d	1	1.18mi
1371 Lower Main St Apt 6 Wailuku, HI	1.0	1.0	651	$2,600	$3.99	19d	1	1.18mi
71 Waiaka Ln Unit 35-204 Wailuku, HI	3.0	2.0	980	$3,450	$3.52	45d	1	1.20mi
60 Kapi Ln Unit 15-201 1 Wailuku, HI	2.0	1.0	657	$2,800	$4.26	45d	1	1.29mi
796 Pomaikai St Unit 796 Kahului, HI	3.0	1.0	900	$3,100	$3.44	45d	1	1.45mi
441 Ani St Kahului, HI	3.0	1.5	943	$3,100	$3.29	25d	1	1.47mi
694 Kaae Rd Wailuku, HI	1.0	1.0	540	$2,300	$4.26	25d	1	1.48mi

HOA detail condo

• Monthly dues: $1,241 · $14,892/yr
• Likely covers: watersewertrashcablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-21
   days on market $149,000 Active 3 DOM
2. 2026-06-19
   remarks 699-char remark
3. 2026-06-19
   listed $149,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast HI · Partial reset (capped growth)

• Current annual tax: $1,465 · $122/mo
• Projected year-2 tax: $1,465 · $122/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone VE · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $32,968
• − Mortgage interest: −$8,346
• − Property taxes: −$1,465
• − Insurance: −$8,773
• − Repairs & maintenance: −$2,637
• − Management: −$2,637
• − HOA: −$14,892
• − Depreciation: −$4,335
• Taxable loss: −$10,118
• Est. tax savings @ 24.0%: +$2,428
• After-tax cash flow: $-6,033/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 — Kahului

• Score: 74/100
• State rank: #17
• US rank: #4968

Category grades

Amenities F Commute A+ Cost of living F Crime C+ Employment A+ Housing C+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kahului, HI
• City population: 25,889
• Population (ZIP): 25,889

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Asian 58% Two or more races 20% White 10% Pacific Islander 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Russian 3% Subsaharan African 1% Slovak 1%
• Foreign-born: 33% · Canada, South Korea, Vietnam
• Languages at home: 65% English-only · Other Asian/Pacific 22% Tagalog/Filipino 11%

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: ▼ -33.40%
• Current HPI: 684.5949
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+317.4% since first listed

9 events — show timeline

• 2026-06-18 Listed $149,000 RAM MLS
• 2025-11-01 Listing Removed — RAM MLS
• 2025-08-01 Listed $285,000 RAM MLS
• 2023-12-22 Sold (MLS) $250,000 RAM MLS
• 2023-12-09 Listed — RAM MLS
• 2023-12-08 Listed $279,000 RAM MLS
• 2021-12-14 Sold (MLS) $182,000 RAM MLS
• 2021-10-04 Listed $180,000 RAM MLS
• 1974-11-01 Sold (Public Records) $35,700 Public Records

Property tax history

+14.6%/yr

Latest (2025): $1,465 · +388.4% YoY. Source: county tax records.