Beachside Interval
For Sale
$65,000
T-2481 Kaanapali Pkwy, Lahaina, HI 96761
One-bedroom, two-bathroom suite with updated finishes and recurring September access at a full-service resort property.
Property Size905 SF
Price / SF$71.82
Days on Market205
Property Features for T-2481 Kaanapali Pkwy
General Information
Standard status
Active
Size
905 SF
Property subtype
Residential Income
Zoning
hotel
Units
Unit Mix
1 x 1BR/2BA
Multifamily Units
1
Amenities
ocean view pool
state of the art workout facility
tennis courts
business center
Beachside BBQs
on-site concierge services
beach activity kiosk
courtyard with Koi fish pond
Listing Agency:
Keller Williams Realty Maui-L
(808) 661-8777
Listed By:
Katie Zimmerman RS-75832
(808) 661-8777
Source:
Exprealty
Added: Feb 8
Changed: Aug 30
Last Checked: Aug 31 at 6:13PM
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 one-bedroom, two-bathroom interval residence at The Whaler includes 905 square feet, tile flooring, hardwood cabinetry, granite countertops, and stainless steel appliances. The ownership interval provides annual use from September 20 through October 4. Furnishings and improvements may vary from the photographs.
The property is located at Kaanapali Beach near Black Rock, shopping, dining, and championship golf courses. Resort amenities include an ocean-view pool, fitness facility, tennis courts, underground parking, business center, beachside BBQ areas, concierge services, and a beach activity kiosk. A tropical courtyard with a koi pond complements the grounds. Annual maintenance fees cover property taxes, grounds and building maintenance, unit maintenance, the reserve fund, and housekeeping. The Whaler is zoned hotel.
The property is located at Kaanapali Beach near Black Rock, shopping, dining, and championship golf courses. Resort amenities include an ocean-view pool, fitness facility, tennis courts, underground parking, business center, beachside BBQ areas, concierge services, and a beach activity kiosk. A tropical courtyard with a koi pond complements the grounds. Annual maintenance fees cover property taxes, grounds and building maintenance, unit maintenance, the reserve fund, and housekeeping. The Whaler is zoned hotel.
Key Highlights
- 905 SF one‑bedroom, two‑bathroom interval residence
- Annual use period runs from September 20 through October 4
- Tile flooring, hardwood cabinetry, granite countertops, and stainless steel appliances
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
8.33%
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
Apartment 5plus
$243.2K
$212.8K – $283.7K
NOI $17,023 @ 7.0% cap · market cap 26.19%
Second Best
Hotel Hospitality
$77.4K
$67.7K – $90.3K
NOI $5,416 @ 7.0% cap · market cap 8.33%
Theoretical Best
Specialty Retail
$366.1K
$320.3K – $427.1K
NOI $25,627 @ 7.0% cap · market cap 39.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
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?
Residential income property - One-bedroom, two-bathroom suite with updated finishes and recurring September access at a full-service resort property.
Where is this residential income property located?
The property is located at T-2481 Kaanapali Pkwy Lahaina, HI.
What is the asking price?
The asking price for this property is $65,000.
What are key features of this property?
This property features: 905 SF one‑bedroom, two‑bathroom interval residence; Annual use period runs from September 20 through October 4; Tile flooring, hardwood cabinetry, granite countertops, and stainless steel appliances
