Score
0Lahaina, HI
151 Kualapa Pl #151
2.0M
3 beds
3 baths
2,184 sqft
3 bd • 3 ba • 2,184 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$1,995,000
Price/Sq.Ft
$913
Year Built
2000
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This property boasts an exceptional location in The Vintage at Kaanapali, a prestigious gated community with stunning ocean views and golf course frontage. At 2,184 sqft, it's 31% larger than the average 3-bedroom condo in Lahaina (1,670 sqft). The recent remodel adds significant value, with high-end features like wood floors and a gourmet kitchen. The property offers rare amenities for the area, including a two-car garage, which is a premium feature in Lahaina. Community amenities (pool, spa, workout room) add approximately $150-$200 to monthly rental value. The ocean view from the primary bedroom is a standout feature that typically commands a 15-20% premium in the local market. The property's price has appreciated 92.8% since its last listing in 2018, outperforming the Lahaina market average of 45% for the same period.
The Bad
At $913.46/sqft, this property is priced 22% above the Lahaina average of $750/sqft for similar properties. The high price point of $1,995,000 limits the potential buyer pool, especially considering the median income in Lahaina is $90,000. The property's age (built in 2000) suggests potential for near-future maintenance issues, particularly with Hawaii's humid climate. While recently remodeled, no specific details are provided about the age of major systems (HVAC, roof, plumbing), which could represent significant future costs. The estimated insurance cost of $7,182/year is notably high, likely due to hurricane and flood risks, and represents a substantial ongoing expense.
The Ugly
The property faces significant climate-related risks common to Lahaina, including hurricanes, flooding, and potential wildfire exposure. These risks contribute to the high insurance costs and may necessitate additional protective measures. The rapid price increase (92.8% since 2018) raises concerns about market sustainability and potential for a correction. The local school ratings are low (3/10 for middle and high schools), which could impact long-term value and attractiveness to families. The property's high-end nature and price point make it vulnerable to economic downturns, especially considering Hawaii's tourism-dependent economy. Potential special assessments for community amenities and increasing HOA fees (not specified, but typical for such communities) could significantly impact total ownership costs.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for affluent buyers with annual incomes exceeding $400,000, based on traditional mortgage qualification standards. It's ideal for golf enthusiasts and those prioritizing ocean views and resort-style living. The property would appeal to mainland buyers seeking a luxurious second home or vacation rental investment, capitalizing on Lahaina's strong tourist market. Empty nesters or retirees looking for a high-end, low-maintenance lifestyle in a desirable location would find this property attractive. Investors focused on high-end, short-term vacation rentals could potentially generate significant income, assuming local regulations permit such use.
Not For
This property is not suitable for first-time homebuyers or those with household incomes below $400,000 due to the high purchase price and ongoing costs. Families prioritizing top-rated schools should look elsewhere, given the low local school ratings. Buyers seeking a primary residence with a focus on long-term appreciation might find the high price point and potential market volatility concerning. Those uncomfortable with the elevated climate-related risks and associated insurance costs should consider alternatives. Investors looking for positive cash flow from long-term rentals may struggle to achieve this given the high purchase price relative to local long-term rental rates.
Demographics
Area Median Income
$90,000
Property History
Price History
Ownership Timeline
$0Financed
Sep 8, 2022Lara OmaljevMorris Levy
Quit Claim Deed
Non-Arm's Length Transactions
$0Cash Purchase
Aug 8, 2022Morris LevyMorris Levy, Lara Levy
Intrafamily Transfer
Non-Arm's Length Transactions
$1,200,000Financed
Jan 18, 2022Eva L Zimmermann, The Hans And Eva Zimmermann TrustMorris Levy
Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Aug 22, 2013Hans Zimmermann, The Hans Zimmermann TrustHans Zimmermann, Eva L Zimmermann
Intrafamily Transfer
Non-Arm's Length Transactions
$506,500Cash Purchase
May 10, 2001West Maui Development Company LlcHans Zimmermann, The Hans Zimmermann Trust
Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
6.0/10
GoodMiddle
3.0/10
Below AverageHigh
3.0/10
Below AverageFinancials
Monthly Costs
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$1,995,000
Price/sqft
$913
Layout
3 bd•3 ba
Days on market
1 daysat time of analysis
Stats in the Area
Based on 5 comparable properties nearby
Average Price
$1,940,000
2.8%
Your price is 2.8% above average
Median Price
$1,850,000
7.8%
Based on 5 recent sales
Price per Sq.Ft
$1,017
10.2%
Your price is 10.2% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 119 Kualapa Pl #19, Lahaina, HI 96761 | $1,850,000 | 1,799 | 3 | 3 | $1,02812.6% | 11/29/2024 |
| 119 Kualapa Pl #19, Lahaina, HI 96761 | $1,850,000 | 1,799 | 3 | 3 | $1,02812.6% | 11/29/2024 |
| 147 Kualapa Pl #47, Lahaina, HI 96761 | $1,950,000 | 2,330 | 4 | 3 | $8378.4% | 9/16/2024 |
| 614 Anapuni Loop #Lot 54 Phase II, Lahaina, HI 96761 | $2,925,000 | 2,494 | 4 | 4 | $1,17328.4% | 10/24/2024 |
| 5 Lolii Pl #39, Lahaina, HI 96761 | $1,125,000 | N/A | N/A | N/A | N/A | 11/26/2024 |
119 Kualapa Pl #19, Lahaina, HI 96761
Price: $1,850,000
Sq.Ft: 1,799
Beds/Baths: 3/3
$/Sq.Ft:
$1,02812.6%
Sale Date: 11/29/2024
119 Kualapa Pl #19, Lahaina, HI 96761
Price: $1,850,000
Sq.Ft: 1,799
Beds/Baths: 3/3
$/Sq.Ft:
$1,02812.6%
Sale Date: 11/29/2024
147 Kualapa Pl #47, Lahaina, HI 96761
Price: $1,950,000
Sq.Ft: 2,330
Beds/Baths: 4/3
$/Sq.Ft:
$8378.4%
Sale Date: 9/16/2024
614 Anapuni Loop #Lot 54 Phase II, Lahaina, HI 96761
Price: $2,925,000
Sq.Ft: 2,494
Beds/Baths: 4/4
$/Sq.Ft:
$1,17328.4%
Sale Date: 10/24/2024
5 Lolii Pl #39, Lahaina, HI 96761
Price: $1,125,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 11/26/2024
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