Residences at Kapalua Fetches $100 at Foreclosure Confirmation

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

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 the remaining developer inventory will recommence.

For more information visit: The Residences at Kapalua Bay

 

 

 

 

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