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JULY 2007 ALOHA from your Kapalua Resort real estate team. The Maui Land and Pineapple vision and goal for Kapalua Resort is to create holistic communities that are friendly to the environment and stress quality rather than quantity. Within Kapalua Resort’s 23,000 acres and nine miles of oceanfront, 20,000 acres will be preserved as conservation, agricultural, golf course and open space use for the benefit of the owners and guests staying in our ten residential communities. The initial units at The Residences at Kapalua Bay were released for sale in July, 2006. This location is the 24 acre oceanfront property known as Kapalua Bay, formerly the site of the Kapalua Bay Hotel. The Residences include 84 private ownership residences and 62 Ritz-Carlton Club fractional ownership residences. Owners will receive membership privileges in the new Kapalua Club. Onsite amenities will include a 6,100 square foot private beach club and a multi-level recreational area including an 8,500 square foot lagoon-style pool, and bar and grill. Concierge service will be available. The Privately Owned units are three and four bedroom Residences and will span 3,000 to 4,200 square feet of indoor living space. Initial prices range from $4.2 million to $10 million. To date – 41 Wholly Owned Units have been sold, and approximately 175 - 1/12th Fractional Interests have been sold. Completed Residences are expected by early 2009. Ask us for detailed information on this exciting new project. Our website www.ResidencesAtKapaluaBay.com will help you see product information and progress. A new 25,000 square foot Spa at Kapalua Resort will be constructed on the site of the existing Kapalua Shops and is expected to be completed in early 2009. OTHER NEW DEVELOPMENT NEWS The Ritz Carlton Hotel closed July 2, 2007 for their much anticipated $110 million renovation. As part of the new Hotel there will be one and two bedroom suites available for purchase. We have seen the 2 bedroom suite Model Unit which is highly appointed and approximately 1,100 square feet. As we receive On January 25, 2007 an article in the Maui News reported that initial conceptual plans for Renovations are underway at the Bay Club Restaurant on the south end of Kapalua Bay which is planned to be open later in 2007. Negotiations are underway with a signature chef and we will let you know as soon as plans are firm. Our Honolua Ridge development is comprised of the largest lots Kapalua Resort has ever offered for sale (3 acres to 30 acres) and are available for showing by private appointment. The views from these lot locations are astounding, and there are only 2 Developer Parcels – 25 acres each available to purchase. Honolua Village Phase I is almost complete. We moved into our new Kapalua Realty Office along with Sansei Restaurant, the Kapalua Logo Shop and La Perl this past October.. This location, known as the Central Resort Town Center, is between the Village Course Clubhouse and the Honolua Store. There is a visual center showcasing the Resort and its history, and a beautiful model of our Residences at Kapalua Bay so please stop by and say hello when you are in town. Honolua Village Phase II – will take about 3 years from now to build out and will complete the new Central Resort Town Center which will be a mixed use Village with 196 total units. Many small shops are planned and the build out should encompass approximately 50,000 square feet of retail and commercial space. Kapalua Mauka, located south of The Plantation Estates on the mauka (mountain side) of Honoapiilani Highway, is a community of about 925 acres to be developed over a period of 15 years. This community would have approximately 690 housing units, comprised of multi family, single family, retail and vacant land for sale. Kapalua Mauka has received its final approvals on this project. We will let you know when presales of the first phase will be available. Other news and developments at Kapalua Resort include the Village Golf Course which closed March 1st for renovation. The new Mauka Golf Course will be designed by Tom Fazio and will be a private course. Other long term plans include the development of an Adventure Park that may eventually house an Equestrian Center, zip lines and a walking trail system of over 80 miles.. Some of the trails already exist and others will be developed. These trails will eventually tie in all our Resort developments from oceanfront to the Plantation Estates, Honolua Ridge and Kapalua Mauka neighborhoods. We have our Resort inventory of real estate from condominiums, single family homes and outstanding land for development and would be pleased to give you more detailed information upon request. Lastly, we are your Kapalua Resort Experts, however, we continue to represent Buyers and Sellers in all areas of Maui. If you have a specific interest in residential, commercial or investment properties, please contact us at any of the numbers, e mail addresses or through our website listed below. We are dedicated professionals with many years of experience here in Hawaii. Let us know how we can help you -- and we hope to see you in Maui again soon. Sunny VerMaas Richard E. Lopez Kapalua Realty Company, Ltd. Information on our Developer Properties and planned amenities may be subject to change.
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