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New Maui Property

J

jjcristi

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Aug 13, 2012
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Location
SF Bay area
Hi All,

We just did our owners update at the WKORV and they hinted at a new "more exclusive" property in the works next to the Honua Kai property. Does anyone else have more information???
 
It's pure baloney - that project has been stalled for more than 5 years. Maui declared that it had to be completely self-sufficient (including water and sewer) and the cost would be beyond enormous, so I don't expect to ever see it.

Here is one of many threads about it: http://www.tugbbs.com/forums/showthread.php?t=85722

For lots more, use the search function and search for "Nanea."
 
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They said that they were in the "moving dirt stage".
Probably another tactic so I didn't put much stock into it.
 
jjcristi said:
They said that they were in the "moving dirt stage".
Probably another tactic so I didn't put much stock into it.
Click to expand...

They have actually been moving the dirt around for more than 5 years! :hysterical: (I'm laughing at them - not you.)

They literally move the dirt around every once in awhile, just to pretend they are doing something, and keeping their permits open.
 
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I was told the same thing in May by my wife's cousin, the sales office manager at Honua Kai, her husband is a local realtor. We had lunch at Dukes, walked right by it behind the wooden walls, didn't see any activity. I took it with a grain of salt based on what Denise says, been moving dirt a long time.

You can see the footprint of one building behind the fence on a Google maps, looks like something was started a long time ago. The other one looks like a parking structure.

nyhajyry.jpg
 
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Great location ...right across from what looks like a waste water facility!
 
I'm on Maui right now, waiting for Iselle.

Word on the street from some local buidling contractors is that they are redoing some of their permits and should begin pouring concrete around November. The project seems to be moving forward again.
 
emuyshondt said:
I'm on Maui right now, waiting for Iselle.

Word on the street from some local buidling contractors is that they are redoing some of their permits and should begin pouring concrete around November. The project seems to be moving forward again.
Click to expand...

They must just be doing the minimum to keep their permits active. If they were really going to proceed, they would start sales.
 
I'll believe it when I see it! Anything less is a waste of time.
 
They're in the permitting process. They've had to scale back the number of floors, due to Maui County changes in regulation. I don't think they'll start selling until the permit situation is taken care of. There's too much uncertainty right now.
 
Perhaps wagering is called for?
I wager... No Sales before Jan 2018 - even money. ;)

(Do not forget scathing report on sewage capacity, overflow and infrastructure for this area)
 
Unless the County of Maui changes their requirements for the resort to be entirely self-sufficient, I don't believe they will ever build timeshares here.
 
I have heard plans to build anything have been put on hold for now
 
Not a chance Starwood will ever build there. Maybe a condo complex if Starwood sells the property. I just don't think a timeshare pencils out profit wise.
 
I think their Rofr program has been successful and is a risk free avenue to acquire inventory. I really don't see why they would want to built a new property. When we have our next economic slow down, Starwood can simply slow down their buy backs.
 
Syed said:
I think their Rofr program has been successful and is a risk free avenue to acquire inventory. I really don't see why they would want to built a new property. When we have our next economic slow down, Starwood can simply slow down their buy backs.
Click to expand...

The ultimate asset lite strategy.

(Full disclosure: Syed sold one of my WKORV units for me -- and Starwood ROFR'd it.)
 
Everything moves so slow in Hawaii.
 
How did Hyatt receive approval to build a residence club there on Kaanapali beach?
 
Yes, Starwood sends me a check for my brokerage fees out of the sales proceeds, if they buy back.
 
Bob808 said:
How did Hyatt receive approval to build a residence club there on Kaanapali beach?
Click to expand...

It took Hyatt about 8 years to get the approvals and start the development.
 
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