$22,500

180 Nohea Kai Dr #3101

Lahaina HI, 96761

Description

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 Kaanapali 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

Details

MLS#389394
Listing TypeFor Sale
StyleHouse
Building NameHyatt Residence Club Maui
Sub-TypeTime Share
StatusActive
Year2015
Days On Site61

Features

Bed(s)1
Bath(s) 1 Total
SQ Feet600
Garage1
PoolYes
Acreage10.00
Water FrontYes
Property ViewYes

Market Activity 96761

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Area Information
StateHI
CityLahaina
Zip Code96761
AreaKaanapali
Listing VS Median (in 96761)
Price:
$22,500
low | high
Med:
$739,000
100% of Average
SqFt:
600
low | high
Med:
1,067
27.833333333333% of Average
$ / SqFt:
$38
low | high
Med:
$693
100% of Average
On Site:
61
low | high
Med:
0
Listing Updated: January 22, 2021 8:03:49 PM PST
Sean L. Combs LogoMLS Number: 389394
Listing Provided By:
Sean L. Combs  of  Bay Realty

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Realtors Association of Maui MLS.