kapalua residences foreclosure: The Montage Residences at Kapalua Bay: New Listing and Market Update - 04/04/14 02:15 PM

A new Residence has just been listed at the Montage Residences Kapalua Bay. Residence 2602, listed at $4,600,000, is the first condominium offered for resale at the Residences since 2011.
Originally branded the Ritz-Carlton Residences at Kapalua Bay, the developer sales began closing in 2009 and ended in 2011.  The Residences are some of the largest condominiums offered for sale in Maui, with floorplans ranging from 2789 sq. ft. to 4055 sq. ft.  
The Residences at Kapalua Bay Sales History:  There has been only one resale, 1305, which closed at $2,850,000 in 2011.  Original developer sales prices ranged from $2,800,000 to $5,735,000, the highest price … (0 comments)

kapalua residences foreclosure: Residences at Kapalua Fetches $100 at Foreclosure Confirmation - 01/31/13 09:15 AM
Aloha!
I'm writing this from the taxi on my way to catch a plane back to Maui, but wanted to post an update.

The confirmation hearing for the Residences on Kapalua Bay (formerly the Ritz-Carlton Residences, Kapalua Bay) took place this morning at the first circuit court. The judge first heard a motion to intervene on behalf of an original reservation holder in the developer sales. Three parties bid, with a starting bid of $60 million, bid up to $100 million in 22 increments.

We are hopeful that with this confirmation that matters will be resolved and sales of … (0 comments)

kapalua residences foreclosure: The Residences at Kapalua Bay: Foreclosure Update January, 2013 - 01/16/13 01:11 PM

The foreclosure confirmation hearing that was scheduled for January 17, 2013 has been rescheduled for January 31, 2013 in Honolulu.
The property formerly known as the Ritz-Carlton Club and Residences on Kapalua Bay is now known as The Residences at Kapalua Bay and is managed by Timbers Resorts, which is known for it's boutique, luxury resorts in popular destinations around the world.
The foreclosure is for the unsold interest, which includes 56 whole ownership units, 567 club interests in the Kapalua Bay Vacation Ownership Project consisting of undivided 1/12 interests in various condominium units, as well as commercial components and … (2 comments)

kapalua residences foreclosure: Foreclosure Update: The Ritz-Carlton Club and Residences, Kapalua Bay - 12/27/12 01:27 PM
The Ritz-Carlton Club and Residences, Kapalua Bay: Foreclosure Update

The court confirmation for the foreclosure sale of the Kapalua Bay Condominium and Kapalua Bay Vacation Ownership Project (also known the Ritz-Carlton Club and Residences, Kapalua Bay) has been scheduled for Thursday, January 17, 2013 at 9:00 a.m.
The Honorable Bert I. Ayabe, will preside.  The confirmation will be held at First Circuit Court, 777 Punchbowl Street, Honolulu, Hawaii 96813.The highest bid at the auction on December 3, 2012 was $55,000,000.00. Interested bidders will need to bid a minimum of 5% above that, or $57,500,000. When bidding is completed, the court will then confirm … (2 comments)

kapalua residences foreclosure: The Ritz-Carlton Club and Residences, Kapalua: December 2012 Update - 12/19/12 10:05 AM
The Ritz-Carlton, Club and Residences is Kapalua Resort's newest condominium property.  Launched in 2009, the property consists of 84 wholly owned condominium units and 62 fractional ownership units (1/12th ownership). 
As many of you know, the lienholders for the Ritz-Carlton Club and Residences, Kapalua Bay development filed for foreclosure earlier this year. At the initial foreclosure hearing in December, Island Acquisitions bid $55 million. The foreclosure is subject to court confirmation in January, 2013 and bidding can be reopened at 105%, or $57.5 million.On December 31, 2012, the current management contract with Ritz-Carlton management will expire.
It is my understanding that … (0 comments)

kapalua residences foreclosure: Ritz-Carlton Residences, Kapalua Foreclosure Auction December 3, 2012 - 12/03/12 06:17 AM
I attended the foreclosure for the Ritz-Carlton Residences, Kapalua Bay today, which took place today on the courthouse steps in Honolulu.  With just two bidders, the opening bid was Ritz Carlton Development, with an opening bid of $52 million.  The second and highest bid was Island Acquisitions, with a bid of $55 million.
This is for the bulk purchase with no separate or individual sales of
56 residential and 5 commercial fee simple apartments in the “Kapalua Bay Condominium” 567 club interests in the Kapalua Bay Vacation Ownership, Project consisting of undivided 1/12 interests in various condominium units (which specific units are available … (0 comments)

kapalua residences foreclosure: Foreclosure Update: Ritz-Carlton Club and Residences at Kapalua Bay - 11/29/12 05:46 AM

The Ritz-Carlton Club and Residences®, Kapalua Bay will be going to foreclosure auction on Monday,  December 3, 2012. On June 13, 2012 a notice of foreclosure was filed by the lien holders, and all sales of both fractional and whole ownership units were suspended. I plan on attending the auction in Honolulu and will post an update afterward to my blog.
According to the Commissioner’s website, the auction details are as follows:DATE: December 3, 2012 at 12:00 noon.LOCATION: Ewa end of the First Circuit Building (Ka’ahumanu Hale), 777 Punchbowl Street, Honolulu, HITERMS OF SALE: The auction will be held for a bulk sale, “As … (4 comments)

 
Courtney Brown, Realtor (S) Vice President, Live a Maui Life!  (Island Sotheby's International Realty) Rainmaker large

Courtney Brown, Realtor (S) Vice President

Live a Maui Life!

Lahaina, HI

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Island Sotheby's International Realty

Address: Napili Plaza, 5095 Napilihau Street, Suite 113A, Napili, HI, 96761

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Mobile: (808) 250-0210

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Author Bio: Courtney Brown is a Realtor with Island Sotheby's International Realty in Maui, Hawaii. Courtney was born here in Maui and educated at Smith College. She specializes in Maui real estate, with a focus on second homes, oceanfront, and resort properties in Kapalua, Napili, Kaanapali, and West Maui. p> View all AR Posts By Courtney Brown Blog Google+ by Courtney Brown


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