# Fractional on Maui



## PerryM (Feb 13, 2007)

I just got this today, some might be interested:

http://www.maui411.com/walakamaui.html

I've walked past the place many times - it's 2 blocks from the WorldMark in Kihei.


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## Steamboat Bill (Feb 13, 2007)

That works out to be about $1,000 per square foot....is that the going rate in Maui?

What is the deal with the empty bookcase or is that a murphy bed.

Unless there is some upside here....I would stick with a DC or high end TS.


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## travelguy (Feb 13, 2007)

*High Country Club - Maui*

I believe that we are about to get a new 2bd, 2ba Wailea, Maui property from High Country Club at no additional charge with our current membership!


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## PerryM (Feb 13, 2007)

*Zillow has zapped me good this week...*

Sorry for taking so long to answer Bill’s concerns – I use Zillow for my real estate analysis and I’ve been up and down with Zillow in the past 2 weeks.  I got an automatic update 2 weeks ago, along with the introduction of the MS operating system VISTA, and Zillow has gone nuts since then.  Just got another automatic update today and I hope it keeps working.


*The fractional condo is at: 112 Walaka Street, Kihei, HI  96753*

You can use Zillow to find out the price per sq ft of nearby condos.

Try this link: Zillow analysis


Average condo is $600k for Kihei and that part of Kihei

You can zoom in on some condos nearby:

68 Walaka St, 2BR’s run about $381k or $400/sq ft

A 1BR is typically higher per sq ft by 25% so extrapolating to a *1BR = $500/sq ft*

Zoom in on one of the 6 condos there and you see the price has held steady in the past 2+ years.

So our fractional costs: $80k - $120k for 6 fractions (seasonality makes the difference)  take the average of $100k * 6 = $600k for the complete fractional.  That’s $800/sq ft

The folks who are offering this will make $220k on the deal and owners are paying 60% more than projected real estate.  This is certainly better than the 300% Marriott charges for timeshares.

All in all, this is something to look at.

This brings up a good question - how much fat do the DCs add to the real estate vale of the home/condo bought?  I certainly don't assume that a $1 M condo costs them $1 M but perhaps something much less.  Any stats for the DC world?


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