Three-Bedroom Resort
For Sale
$150,000
1 Bay Dr Unit 4401, Lahaina, HI 96761
Deeded fractional interest includes annual fixed and floating stays with resort services and coastal views.
Property Size2,065 SF
Price / SF$72.64
Days on Market17
Property Features for 1 Bay Dr Unit 4401
General Information
Standard status
Active
Size
2,065 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
(808) 283-5166
Listed By:
Chris Haigh RS-67890
Source:
The808team
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 29 at 10:46AM
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
Investment Insights
Based on property information with market context.
This 2,065-square-foot resort residence offers three bedrooms and three-and-a-half baths within a fractional ownership structure. The deeded one-twelfth interest provides 21 deeded days annually, including two consecutive fixed weeks in mid-April and one floating week scheduled between late August and early October. The residence is identified as Unit 4401 and was built in 2008.
The property overlooks Lanai and the west Maui coastline toward Lahaina. Resort services include twice-daily housekeeping, an assigned concierge, in-residence dining, a signature restaurant, children’s programs, and lagoon pools. The ownership also allows access to additional days on a per diem basis, subject to availability and the applicable resort arrangements.
Upcoming deeded periods include April 4–25, 2026; April 3–17, 2027; and August 28–September 4, 2027.
The property overlooks Lanai and the west Maui coastline toward Lahaina. Resort services include twice-daily housekeeping, an assigned concierge, in-residence dining, a signature restaurant, children’s programs, and lagoon pools. The ownership also allows access to additional days on a per diem basis, subject to availability and the applicable resort arrangements.
Upcoming deeded periods include April 4–25, 2026; April 3–17, 2027; and August 28–September 4, 2027.
Key Highlights
- 2,065‑square‑foot residence with 3 bedrooms and 3 1/2 baths
- Deeded one‑twelfth fractional ownership interest
- 21 deeded days annually, including fixed and floating time periods
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,359
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$835.4K
$730.9K – $974.6K
NOI $58,475 @ 7.0% cap · market cap 38.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Resort - Deeded fractional interest includes annual fixed and floating stays with resort services and coastal views.
Where is this resort located?
The property is located at 1 Bay Dr Unit 4401 Lahaina, HI.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 2,065‑square‑foot residence with 3 bedrooms and 3 1/2 baths; Deeded one‑twelfth fractional ownership interest; 21 deeded days annually, including fixed and floating time periods
