MOTIVATED SELLER! The $22,500 List Price is far below the Developer's current sales price of $35,500+. This may be a multiple offer situation. THIS IS A FRACTIONAL OWNERSHIP PROPERTY. Owners receive a fee-simple undivided interest in a condominium with use rights for the one bedroom one bath unit for 7 nights per year. This property has use rights in week 45 beginning in 2021. This ownership comes with Hyatt points which can be used to reserve other units, outside their deeded season, residence type and home resort. THE PROPERTY IS ZONED AND APPROVED FOR NIGHTLY RENTALS. The nightly rental rates at the Hyatt Ka’anapali Beach Resort vary by time of year with rates being as low as $350/night for a studio to over $1500/night for a 3-bedroom unit. In 2019 the average rental rate for non-shoulder seasons was approximately $550/night. Net of expenses, the property at the foreclosure price has the potential to generate a 25% margin based on 2019 rental rates. Covid has negatively affected rental occupancy and rates in 2020. So any rental projections at this point are speculative. But should the market return to 2019 rates, a case could be made that the property is selling at about 30% of its actual value. Regularly voted as the top residence club in Kaanapli, the Hyatt Ka'anapali Beach, a Hyatt Residence Club Resort, offers elegantly appointed one-, two- and three-bedroom villas with expansive lanais, ocean views, gourmet kitchens with stainless steel appliances and luxurious master baths with free standing tubs and separate showers. The ocean-front resort is nestled in the heart of Kaanapali, steps from the shops and restaurants at Whaler's village, with snorkeling and surfing out the front door, and world class golf quite literally across the street Hyatt Residence Club Maui, Ka'anapali Beach - need we say more? Week #45 (November 6, 2021). Relax... You're home. Your 1 bedroom villa will have large private lanais, stunning Ocean Views!! Fix a yummy meal in your gourmet kitchen with stainless steel appliances. After, you'll enjoy your modern spa-like bathroom to relax in your soaking tub. Experience an awe-inspiring Hawaiian island escape every year at your luxury Maui beachfront resort. PAYMENT IS MADE VIA CREDIT CARD OR PAYPAL. Due to the extremely low price, payment is accepted via Credit Card or PayPal. Financial may be available to buyers through outside sources such as personal loans or low-interest credit cards. Seller does not provide any financing options. The Maintenance Fee includes all property taxes, HOA fees, Common area fees, maintenance fees, housekeeping and a reserve to upgrade all furniture and fixtures and appliances at regular intervals, typically every 5 years. Maintenance fees are due on January 1 of each year. The total maintenance fee for this property is $2,155 per year. Some buyers purchase these for their personal use, as the purchase price is about the same as renting 2 weeks. Other buyers find this an affordable way to add to their commercial rental portfolio with significantly above-market rental returns. It is rare to be able to purchase an ocean-front property in Maui. This is your chance. *Disclaimers: Prices quoted are deemed accurate, but may fluctuate according to developer marketing strategies, individual sales, or changes in developer and resale market conditions. Past rental performance is no guarantee of future revenue.
Listing Agent: Sean L. Combs Courtesy of: Bay Realty This information is believed to be accurate. It has been provided by sources other than the Realtors Assoc. of Maui and should not be relied upon without independent verification.
You should conduct your own investigation and consult with appropriate professionals to determine the accuracy of the information provided and to answer any questions concerning the property and structures located thereon. Copyright, 1995-2021, REALTORS® Association of Maui, Inc. All Rights Reserved. Updated: 15th October, 2021 7:21 PM