Hotel Suite with Black Rock
For Sale
$60,000
608-t-2481 Kaanapali Pkwy, Lahaina, HI 96761
One-bedroom, two-bath interval suite with tile floors, granite counters, and stainless steel appliances.
Property Size905 SF
Price / SF$66.30
Days on Market221
Property Features for 608-t-2481 Kaanapali Pkwy
General Information
Standard status
Active
Size
905 SF
Property subtype
Residential Income
Zoning
hotel
Amenities
ocean view pool
state of the art workout facility
underground parking
tennis courts
business center
Beachside BBQs
on-site concierge services
beach activity kiosk
lush courtyard featuring tropical landscaping and a Koi fish pond
Listing Agency:
Keller Williams Realty Maui-L
Listed By:
Katie Zimmerman RS-75832
(808) 280-8986
Source:
Exprealty
Added: Feb 8
Changed: Sep 14
Last Checked: Sep 17 at 12:31AM
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 Keller Williams Realty Maui-L
Investment Insights
Based on property information with market context.
This 905-square-foot hotel-zoned interval suite at The Whaler includes one bedroom, two bathrooms, tile flooring, hardwood cabinetry, granite countertops, and stainless steel appliances. The ownership interval provides annual use from September 20 through October 4, with housekeeping, unit and building maintenance, grounds care, property taxes, and reserve-fund contributions included in the maintenance-fee structure.
The Whaler occupies a beachfront setting along Kaanapali Beach and provides access to an ocean-view pool, fitness facility, tennis courts, underground parking, business center, beachside BBQ areas, concierge services, and a beach activity kiosk. The property also features tropical courtyard landscaping and a koi pond. Black Rock, shopping, dining, and championship golf courses are nearby.
The Whaler occupies a beachfront setting along Kaanapali Beach and provides access to an ocean-view pool, fitness facility, tennis courts, underground parking, business center, beachside BBQ areas, concierge services, and a beach activity kiosk. The property also features tropical courtyard landscaping and a koi pond. Black Rock, shopping, dining, and championship golf courses are nearby.
Key Highlights
- 905‑square‑foot hotel‑zoned interval suite
- Annual use from September 20 through October 4
- One bedroom and two bathrooms
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
$5,416
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
9.03%
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%
$108,320
$108.3K
Cap Rate 7%
$77,371
$77.4K
Cap Rate 9%
$60,178
$60.2K
Market Conditions
NOI Build-Up for 905 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
$19.0K $21.00/SF
− Vacancy
−$7.6K −$8.40/SF
EGI
$11.4K $12.60/SF
− OpEx
−$6.0K −$6.62/SF
NOI
$5.4K $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%
$108,320
Cap Rate 7%
$77,371
Cap Rate 9%
$60,178
Alternative Uses
Best Use
Hotel Hospitality
$77.4K
$67.7K – $90.3K
NOI $5,416 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$366.1K
$320.3K – $427.1K
NOI $25,627 @ 7.0% cap · market cap 42.71%
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?
Hotel - One-bedroom, two-bath interval suite with tile floors, granite counters, and stainless steel appliances.
Where is this hotel located?
The property is located at 608-t-2481 Kaanapali Pkwy Lahaina, HI.
What is the asking price?
The asking price for this property is $60,000.
What are key features of this property?
This property features: 905‑square‑foot hotel‑zoned interval suite; Annual use from September 20 through October 4; One bedroom and two bathrooms
