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 a leasehold interest in a parcel known as the "Shops at Kapalua" where the Kapalua Spa now stands.
Currently, all sales of the unsold individual whole and fractional units have been suspended. At the time of this post, there are four fractional resales listed and no whole ownership resales listed in the Maui MLS. It is thought that sales will be re-launched once new ownership is in place and management solidified.
This foreclosure is not to be confused with the Ritz-Carlton, Kapalua Hotel or the Residential Suites at the Ritz-Carlton, Kapalua which is an entirely separate property that remains under the Ritz-Carlton management.
Please don't hesitate to contact me for more information or to receive updates as it is made available on the foreclosure and any new sales program.