Two-Bedroom Resort
For Sale
$129,000
1 Bay Dr Unit 3604, Lahaina, HI 96761
Fractional ownership residence with scheduled annual use and access to staffed resort amenities and services.
Property Size1,776 SF
Price / SF$72.64
Days on Market53
Property Features for 1 Bay Dr Unit 3604
General Information
Standard status
Active
Size
1,776 SF
Property subtype
Multi-Family
Amenities
twice daily housekeeping
assigned 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 26
Changed: Oct 12
Last Checked: Oct 7 at 1:42PM
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.
This 1,776-square-foot resort residence includes two bedrooms and two-and-one-half baths, with ocean and Molokai views. The property was built in 2008 and is offered as a deeded one-twelfth fractional interest rather than whole ownership.
Annual use includes 21 deeded days: two consecutive weeks in late March and early April, designated as weeks 12 and 13, plus one rotating float week scheduled between late August and early October. Owners also have access to additional days on a per diem basis. Resort services and amenities include twice-daily housekeeping, concierge assistance, in-residence dining, a signature restaurant, children’s programs, and lagoon pools. The residence is located at 1 Bay Dr Unit 3604 in Lahaina, Hawaii.
Annual use includes 21 deeded days: two consecutive weeks in late March and early April, designated as weeks 12 and 13, plus one rotating float week scheduled between late August and early October. Owners also have access to additional days on a per diem basis. Resort services and amenities include twice-daily housekeeping, concierge assistance, in-residence dining, a signature restaurant, children’s programs, and lagoon pools. The residence is located at 1 Bay Dr Unit 3604 in Lahaina, Hawaii.
Key Highlights
- 1,776‑square‑foot residence with 2 bedrooms and 2 1/2 baths
- Deeded one‑twelfth fractional ownership interest
- 21 deeded days annually, including weeks 12 & 13 plus one float week
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,629
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$212,580
$212.6K
Cap Rate 7%
$151,843
$151.8K
Cap Rate 9%
$118,100
$118.1K
Market Conditions
NOI Build-Up for 1,776 SF
Gross rent
$37.3K $21.00/SF
− Vacancy
−$14.9K −$8.40/SF
EGI
$22.4K $12.60/SF
− OpEx
−$11.7K −$6.62/SF
NOI
$10.6K $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%
$212,580
Cap Rate 7%
$151,843
Cap Rate 9%
$118,100
Alternative Uses
Best Use
Hotel Hospitality
$151.8K
$132.9K – $177.2K
NOI $10,629 @ 7.0% cap · market cap 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$718.4K
$628.6K – $838.2K
NOI $50,291 @ 7.0% cap · market cap 38.99%
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 - Fractional ownership residence with scheduled annual use and access to staffed resort amenities and services.
Where is this resort located?
The property is located at 1 Bay Dr Unit 3604 Lahaina, HI.
What is the asking price?
The asking price for this property is $129,000.
What are key features of this property?
This property features: 1,776‑square‑foot residence with 2 bedrooms and 2 1/2 baths; Deeded one‑twelfth fractional ownership interest; 21 deeded days annually, including weeks 12 & 13 plus one float week
