Foreclosure Update: The Ritz-Carlton Club and Residences, Kapalua Bay

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Real Estate Agent with Island Sotheby's International Realty R(S): 56519

The Ritz-Carlton Club and Residences, Kapalua Bay: Foreclosure Update

Ritz-Carlton Residences Kapalua Bay

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 the sale.

The property is going through a transition, with Timbers Resorts taking over the management of the Residences as of January 1, 2013.

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Rainmaker
161,583
Wika Hutchinson
Eugene, OR
Broker, CRIS, SFR, CDPE

Thanks for sharing the info Courtney. I stayed at the Ritz in Kapalua during my visit last year. Very nice place but I wasn't too crazy about the rain in that part of the island.

Dec 27, 2012 01:56 PM #1
Rainmaker
155,890
Courtney Brown, Realtor (S) Vice President
Island Sotheby's International Realty - Lahaina, HI
Live a Maui Life!

Aloha Wika,

I'm sorry to hear you hit a rainy patch.  It's been gorgeous most days, but we do get some rain some times.

Happy Holidays and hope you are able to return soon!

Best,

Courtney

Dec 27, 2012 02:15 PM #2
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Rainmaker
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Courtney Brown, Realtor (S) Vice President

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