One of the most desired areas in West Maui is Kapalua, due to its beautiful bays and beaches, cooler weather, golf courses and luxurious amenities.
Kapalua Golf Villas seems to be the hot spot in Kapalua, when it comes to real estate sales. Currently, large 1bd units ( approx. 972 sf) with golf course views, start in the low $400,000s. Please click here to see some of the 1bd units currently listed. 2bd units, with a living area of approximately 1,344 sf now start at $525,000. Looking at historical data, one would see that 1bd units were selling in the mid $800,000’s in 2007, while 2bd units were selling for a little over $1,000,000 , also in 2007. Current listing prices for 1bd units are at 2003 levels, which is true for many other properties.
Kapalua Golf Villas
Although one has multiple choices when it comes to vacation rental management, Outrigger is the only company that has an onsite office. Most of the units that are currently listed would have to be remodeled and upgraded when it comes to décor, with a focus on kitchen and bathrooms. According to current material and labor prices, the remodel of a 1bd unit, to meet the Gold Standard, as required by Outrigger, would be close to $50,000.
Last, but not least, an extensive building remediation project is to be conducted in 2012-2013. The cost per unit varies upon square footage and it runs until March 2014. Thus, for a 1bd unit, the monthly maintenance fees will be $1548.51: $242.08 reserve contribution, $556.85 maintenance fees, $37.50 KRA dues, $716.45 remediation assessment. The remediation project includes new roofs, paint, hand rails, walk ways, etc.
Kapalua Golf Villas features and amenities:
- 186 units in 16 low rise buildings;
- 4 swimming pools;
- Stunning ocean views and golf course views;
- Covered parking;
- Free shuttle bus service within Kapalua Resort.