By Jo Dorner
The Ritz-Carlton Kapalua Hotel and the Residences are in foreclosure but there are investors interested in purchasing these loans as there are many units left at each property and they are ready to sell. These investors are betting that luxury property values will start climbing again.
If buying a hotel is too rich for your blood, a smart investor could still see returns quickly by investing in Maui beachfront property. Potential investors in the Ritz-Carlton and the Residences at Kapalua are sure to see positive returns if the remaining units are sold as current market rates continue to rise.
Further reason to expect continued returns from investment properties in Kapalua is the recent news that the resort has signed with Hyundai for the January PGA Golf tournament. The car-marker has agreed to sponsor the "Tournament of Champions" for the next three years. They will be the title sponsor but SBS will continue to act as a co-sponsor until 2019. The Bay Course and the Plantation course have now both been sold to T Y Management and many residents of West Maui expect them to put these courses back on the map and be very good for Kapalua over all. They also have a management contract on the Golf Academy.
The Golf Villas are still at the low end of the Kapalua market and there are many good buys there, but with the courses under new management you can expect that to start to change. The Ridge has listings comparable to those in the Bay Villas price range so they have been somewhat slower in selling this year but three have recently gone into escrow.
Additionally, there will be a new restaurant to open at the old Vino site come December and we will keep you posted on how that goes. Kapalua's best real estate buys are here at JoDorner.com, please feel free to contact me for any further information about luxury homes and oceanfront condos in West Maui.
By Jo Dorner
The Ritz-Carlton Kapalua Hotel and the Residences are in foreclosure but there are investors interested in purchasing these loans as there are many units left at each property and they are ready to sell. These… Continue Reading