Papakea Beach Resort
E komo Mai
Thanks for visiting my website dedicated to the Papakea
Beach Resort. The annual owners meeting was this past Saturday
at the Kaanapali Beach Club.
We now have 11 units sold this 2015 year.
Inventory has increased in 2015, but the
market has gobbled up some of the new listings and inventory is
hovering around 21 units listed for sale.
Activity slowed these past couple of months,
but just this week 2 units just went pending:
oceanfront 1BR #F-204 & oceanview studio #D-206.
I'm also happy to represent a new one bedroom listing
#E-110 @ $249,000 Leasehold. I just love beautifully
remodeled units and this one everyone will love. The Fee
Simple interest was last reported to be available for
$200,000. So, a Buyer can buy out the lease and turn it
to Fee Simple.
We now have a new high
selling price for oceanview one bedrooms when #E-201
sold for $532,500 (FS). The previous high was #B-202 @
$440,000 (FS). The dramatic increase is because #E-201
was highly upgraded & totally renovated. It goes to show
that Buyers will pay a premium for highly upgraded units
and will leave the not so nice units on the market.
The latest news on the
fee simple interest held by an investment company,
Medusky & Co, is now
offering the fee interest for sale for a few months. The
word out too is that they won't be selling any
oceanfront fee interests and hold on them. Unit F-204, a
leasehold one bedroom on the market, lost some market
for a Fee Simple buyer won't be able to convert it.
Of course, Medusky & Co can always change their mind.
Just updated my newsletter, so please check the link to
my JULY 1, 2015
LISTINGS to see some pictures of the units and to
find out the current costs of ownership.
UNITS SOLD for updated sales prices and
FOR SALE to check out our current offerings. Got
questions? Let me know. Thank you.