Ninth-Floor Resort
For Sale
$75,000
919s-2481 Kaanapali Pkwy, Lahaina, HI 96761
One-bedroom, one-bath interval ownership at The Whaler on Kaanapali Beach includes scheduled September access.
Property Size901 SF
Price / SF$83.24
Days on Market986
Property Features for 919s-2481 Kaanapali Pkwy
General Information
Standard status
Active
Size
901 SF
Property subtype
Residential Income
Listing Agency:
Monte D Fitts REALTOR
Listed By:
Monte D. Fitts RB-09645
(808) 661-8863
Source:
Exprealty
Added: Dec 29, 2023
Changed: Sep 2
Last Checked: Sep 9 at 9:06AM
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 Monte D Fitts REALTOR
Investment Insights
Based on property information with market context.
This resort interval provides ownership from September 5 through September 19 at The Whaler on Kaanapali Beach. The accommodation includes one bedroom and one bathroom, with a ninth-floor setting within the resort.
Views extend makai from Kaanapali Beach toward Lanai, while the opposite outlook reaches across the courtyard toward the West Maui mountains. Annual Whaler TIOA maintenance fees are billed in two installments, with payments due in February and August. The offering is located at 919s-2481 Kaanapali Pkwy in Lahaina, Hawaii.
Views extend makai from Kaanapali Beach toward Lanai, while the opposite outlook reaches across the courtyard toward the West Maui mountains. Annual Whaler TIOA maintenance fees are billed in two installments, with payments due in February and August. The offering is located at 919s-2481 Kaanapali Pkwy in Lahaina, Hawaii.
Key Highlights
- September 5–19 one‑bedroom, one‑bath time interval
- Ninth‑floor position at The Whaler on Kaanapali Beach
- Makai outlook from Kaanapali Beach toward Lanai
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
$5,392
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
7.19%
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%
$107,840
$107.8K
Cap Rate 7%
$77,029
$77.0K
Cap Rate 9%
$59,911
$59.9K
Market Conditions
NOI Build-Up for 901 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
$18.9K $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%
$107,840
Cap Rate 7%
$77,029
Cap Rate 9%
$59,911
Alternative Uses
Best Use
Hotel Hospitality
$77.0K
$67.4K – $89.9K
NOI $5,392 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$364.5K
$318.9K – $425.2K
NOI $25,514 @ 7.0% cap · market cap 34.02%
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 - One-bedroom, one-bath interval ownership at The Whaler on Kaanapali Beach includes scheduled September access.
Where is this resort located?
The property is located at 919s-2481 Kaanapali Pkwy Lahaina, HI.
What is the asking price?
The asking price for this property is $75,000.
What are key features of this property?
This property features: September 5–19 one‑bedroom, one‑bath time interval; Ninth‑floor position at The Whaler on Kaanapali Beach; Makai outlook from Kaanapali Beach toward Lanai
