Maui Sands is a leasehold property located 1 mile North of Kaanapali Beach, close to Farmers Market, Times Supermarket, restaurants and spas.
Currently, the monthly lease rent for a 1bd unit is $421, if the unit is located in buildings 1 through 6. The monthly maintenance fees are $532 and they cover all utilities but electricity, basic cable, landscaping and maintenance of pool and common areas.
For 1 bd units located in building 7, the lease rent is $265/month and the maintenance fee is $620.14.
For 2bd units located in buildings 1 through 6, the current lease rent is $632 per month and the maintenance fee is $543.91.
The lease rent will be renegotiated in 2012. The lease agreement expires in 2037.
The owners at Maui Sands have worked with Michael Pang from Monarch Properties, towards a conversion from leasehold to fee simple. Although no numbers are available yet, becasue negotiations are not concluded, significant progress has been made.
When negotiations are complete and successfull, owners at Maui Sands will be given the opportunity to convert to fee simple, by paying a certain fee. The Association may retain the right to purchase the fee for the owners that are not financially prepared. The fee can be financed, as regular real estate is, from local banks.
To learn what is for sale at Maui Sands, please click www.forsaleinlahaina.com