Kaanapali Shores 339

Oceanfront condo with owner financing

Great unit, great rental management at Kaanapali Shores

Financing

The owner is offering financing at 5% with 25% down on the second lowest priced 1 bedroom condominium at Kaanapali Shores. The loan will be amortized over 30 years with a balloon due in 10 years. If you are looking for financing this is a great offer. Currently only First Hawaiian bank is committed to lending on Kaanapali Shores or any other condo-tel. They require 35% - 40% down and their rates are around 6%. American Savings may loan on Kaanapali Shores.

The Condo

Kaanapali Shores is 339 a garden view 1 bedroom of 717 square feet. It has a spacious feel with a full kitchen, good size bathroom, king size bed and big lanai. It has a sofa sleeper in the living room. 339 is in a nice quiet location and has been fully renovated to meet the new Aston standards. The monthly AOAO's are $975, annual taxes according to the HIS website are $4,060 or $338.33 per month.

The Management Company

Aston does a world class job of running the on-sight vacation rental program. Even in the last 2 years when vacation travel has been off everywhere, Kaanapali Shores maintained occupancy rates in the high 80% to low 90%’s year round. If you want information about the rental program, email your request for details and I’ll send you the most current information.

The Association

I really like the board. They've done a good job working with Aston to keep our costs down and improve revenue. The AOAO at Kaanapali Shores is reserved at over 90%, we are not expecting any assessments according to what we heard at the last board meeting. This year's increase in AOAO fees is to fund a possible issue on the walkways. If there is no issue or if it is smaller than the board's estimate, there will be money set aside and we may get a reduction in fees as we did in 2009. I'm saying we, because we own at Kaanapali Shores.

The Comps

The most recent sale of a non-renovated unit was #331. The sellers were desperate to dump it and, after long negotiations, my clients bought it for $320K. The standard renovation cost is currently about $40K - $50K depending on your taste. For complete comps, click to send email and ask for comps.

Get more info on Kaanapali Shores 339

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Call 808.276.8776

lee@alohapotts.com