Papakea: one of my favorite resorts in West Maui, consisting of 364 apartments spread across eleven 4-story buildings over a 12 acre+ parcel, with a Hawaiian look and feel. The resort offers 2 swimming pools with cabanas, putting greens, 2 tennis courts, concierge service,s and it is located a short distance to a variety of restaurants and stores, farmers’ market and Kaanapali Beach walk.
10 sales were recorded at Papakea, since Feb 20th 2020, during Covid-19 time.
|Status||MLS #||Unit||L Price||Bds||Bths||Liv-SF||Days On Market||Monthly Maint Fee||Sold Price||Closing Date|
|PENDING – CONT. TO SHOW||386664||J201||$559,000||1||1||597||95||$698.62|
If you are interested in this development, we just listed unit D104, a 1bd/1ba, 614 sf living area that can accommodate up to 4, due to a well placed Murphy bed. Please click here to take a tour of this unit. Listing price is $538,000.
Financial information regarding ownership of this unit:
Monthly Homeowner Association Fee
$737.15 per month
HOA fees includes water, internet, cable, trash, sewage & maintenance of common area, club house, pool & BBQ area
Special Assessment & Reserve
- Seawall loan assessment: $79.48
- Exterior renovation loan assessment: $137.50
- Capital reserve: $0.35
Owner’s additional expenses include: electricity, contents insurance & real property tax ($558/month), mortgage.
Rental Revenue Potential:
This unit has been enrolled in a timeshare program until recently. We have received proformas from several rental management companies with estimates between $49K and 67K in yearly rental revenue. Please reach out for details on how to manage your vacation rental.
- Is this unit a fee simple unit? Yes.
- Does this unit have air conditioning? Yes, there is one window unit in the living room.
- Is this unit easily accessible, with no stairs? Yes, this unit is on the ground floor and guests truly appreciate the ability to just walk out onto the putting green and towards the ocean.
- Does this unit get a lot of sun in the afternoon? No, you will be able to enjoy your dinner sitting out on the lanai.
- Is this unit ready for vacation rentals? Yes, this unit is conveyed fully equipped to operate a vacation rental.
Just buy it!