Three-Bedroom Resort
For Sale
$150,000
4401-1 Bay Dr, Lahaina, HI 96761
Fractional resort ownership includes scheduled annual use and access to additional days on a per diem basis.
Property Size2,065 SF
Price / SF$72.64
Days on Market702
Property Features for 4401-1 Bay Dr
General Information
Standard status
Active
Size
2,065 SF
Property subtype
Residential Income
Listing Agency:
Coldwell Banker Island Prop-KP
(808) 283-5166
Listed By:
Chris Haigh RS-67890
(808) 283-5166
Source:
Exprealty
Added: Sep 8, 2024
Changed: Aug 9
Last Checked: Aug 9 at 8:04AM
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 one-half baths within The Resort at Kapalua Bay. The northernmost fractional residence is positioned for views toward Lanai and the west Maui coastline extending toward Lahaina. Ownership is structured as a deeded one-twelfth interest, providing 21 deeded days each year along with the ability to request additional days on a per diem basis.
Annual use includes two consecutive fixed weeks in mid-April and one floating week scheduled between late August and early October. Resort services and amenities described for the residence include twice-daily housekeeping, concierge service, in-residence dining, a signature restaurant, lagoon pools, and children’s programs. The property is located at 4401-1 Bay Dr, Lahaina, HI.
Annual use includes two consecutive fixed weeks in mid-April and one floating week scheduled between late August and early October. Resort services and amenities described for the residence include twice-daily housekeeping, concierge service, in-residence dining, a signature restaurant, lagoon pools, and children’s programs. The property is located at 4401-1 Bay Dr, Lahaina, HI.
Key Highlights
- 2,065 SF residence with 3 bedrooms and 3 1/2 baths
- Deeded 1/12 fractional ownership interest
- 21 deeded days annually plus additional days available per diem
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
Apartment 5plus
$554.9K
$485.5K – $647.4K
NOI $38,843 @ 7.0% cap · market cap 25.90%
Second Best
Hotel Hospitality
$176.6K
$154.5K – $206.0K
NOI $12,359 @ 7.0% cap · market cap 8.24%
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
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 - Fractional resort ownership includes scheduled annual use and access to additional days on a per diem basis.
Where is this resort located?
The property is located at 4401-1 Bay Dr 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 SF residence with 3 bedrooms and 3 1/2 baths; Deeded 1/12 fractional ownership interest; 21 deeded days annually plus additional days available per diem
