Ocean-View Resort
For Sale
$379,000
1 Bay Dr Unit 3506, Lahaina, HI 96761
Deeded fractional ownership includes resort amenities, scheduled annual use, and a private lanai serving the third bedroom.
Property Size2,065 SF
Price / SF$183.54
Days on Market78
Property Features for 1 Bay Dr Unit 3506
General Information
Standard status
Active
Size
2,065 SF
Property subtype
Multi-Family
Amenities
housekeeping
concierge
in-residence dining
signature restaurant
kids programs
lagoon pools
Building Details
Year Built
2008
Listing Agency:
Coldwell Banker Island Prop-KP
Listed By:
Chris Haigh RS-67890
(808) 283-5166
Source:
The808team
Added: Aug 3
Changed: Oct 15
Last Checked: Oct 7 at 5:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Island Prop-KP
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Investment Insights
Based on property information with market context.
Residence 3506 is a 2,065-square-foot resort accommodation completed in 2008, with three bedrooms, three full bathrooms, and one half bath. Ocean and Molokai views extend from the residence, while a lanai serves the third bedroom—an uncommon feature among the fractional residences at the property.
The ownership interest is deeded at one-twelfth, providing 21 deeded days each year. The assigned annual period consists of three consecutive weeks from June into July, identified as weeks 25, 26, and 27, with additional use available on a per diem basis. Resort services include twice-daily housekeeping, concierge support, in-residence dining, a signature restaurant, children’s programs, and lagoon pools. Owners also receive exchange access across 13 Timbers Resorts properties and Platinum status within Marriott Bonvoy.
The ownership interest is deeded at one-twelfth, providing 21 deeded days each year. The assigned annual period consists of three consecutive weeks from June into July, identified as weeks 25, 26, and 27, with additional use available on a per diem basis. Resort services include twice-daily housekeeping, concierge support, in-residence dining, a signature restaurant, children’s programs, and lagoon pools. Owners also receive exchange access across 13 Timbers Resorts properties and Platinum status within Marriott Bonvoy.
Key Highlights
- 2,065‑square‑foot residence with 3 bedrooms, 3 1/2 baths, and ocean and Molokai views
- Deeded 1/12 fractional ownership interest includes 21 deeded days annually
- Fixed annual use spans 3 consecutive weeks from June into July, covering weeks 25, 26 & 27
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,359
Cap Rate
3.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$247,180
$247.2K
Cap Rate 7%
$176,557
$176.6K
Cap Rate 9%
$137,322
$137.3K
Market Conditions
NOI Build-Up for 2,065 SF
Gross rent
$43.4K $21.00/SF
− Vacancy
−$17.3K −$8.40/SF
EGI
$26.0K $12.60/SF
− OpEx
−$13.7K −$6.62/SF
NOI
$12.4K $5.98/SF
Area
Maui County, HI
Vacancy
40.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$247,180
Cap Rate 7%
$176,557
Cap Rate 9%
$137,322
Alternative Uses
Best Use
Hotel Hospitality
$176.6K
$154.5K – $206.0K
NOI $12,359 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$835.4K
$730.9K – $974.6K
NOI $58,475 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Demographics for 96761, HI
23,167
Population
11,851
Households
2
Avg Household Size
42
Median Age
28%
College-Educated
93%
High-School Grad
95.3 sq mi
ZIP Area
243
Density / Sq Mi
$94,229
Median Household Income
$45,107
Median Earnings
$2,099
Median Rent
$905,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Resort - Deeded fractional ownership includes resort amenities, scheduled annual use, and a private lanai serving the third bedroom.
Where is this resort located?
The property is located at 1 Bay Dr Unit 3506 Lahaina, HI.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 2,065‑square‑foot residence with 3 bedrooms, 3 1/2 baths, and ocean and Molokai views; Deeded 1/12 fractional ownership interest includes 21 deeded days annually; Fixed annual use spans 3 consecutive weeks from June into July, covering weeks 25, 26 & 27
