Two-Bedroom Resort
For Sale
$225,000
1 Bay Dr Unit 4604, Lahaina, HI 96761
Fractional ownership includes 21 deeded days annually with access to additional stays on a per diem basis.
Property Size1,776 SF
Price / SF$126.69
Days on Market76
Property Features for 1 Bay Dr Unit 4604
General Information
Standard status
Active
Size
1,776 SF
Property subtype
Multi-Family
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 5
Changed: Oct 7
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 within the Resort at Kapalua Bay. The deeded fractional interest provides 21 ownership days each year, including three consecutive weeks in February and one additional guaranteed week. Additional stays are available on a per diem basis.
Located at 1 Bay Dr Unit 4604 in Lahaina, the residence offers views extending across the ocean from Lanai to Molokai. Resort amenities and services include twice-daily housekeeping, an assigned concierge, in-residence dining, a signature restaurant, children’s programs, and lagoon pools. The property was built in 2008.
Located at 1 Bay Dr Unit 4604 in Lahaina, the residence offers views extending across the ocean from Lanai to Molokai. Resort amenities and services include twice-daily housekeeping, an assigned concierge, in-residence dining, a signature restaurant, children’s programs, and lagoon pools. The property was built in 2008.
Key Highlights
- 1,776‑square‑foot residence with 2 bedrooms and 2.5 baths
- Deeded one‑twelfth fractional ownership interest
- 21 deeded days annually, plus additional per diem availability
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,629
Cap Rate
4.72%
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 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$718.4K
$628.6K – $838.2K
NOI $50,291 @ 7.0% cap · market cap 22.35%
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 includes 21 deeded days annually with access to additional stays on a per diem basis.
Where is this resort located?
The property is located at 1 Bay Dr Unit 4604 Lahaina, HI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,776‑square‑foot residence with 2 bedrooms and 2.5 baths; Deeded one‑twelfth fractional ownership interest; 21 deeded days annually, plus additional per diem availability
