Sales Begin for The Ritz-Carlton Club, Kapalua Bay

FYI. Ritz Carlton is getting into timesharing, 3 week minimum, starting at $300K.

Sales Begin for The Ritz-Carlton Club, Kapalua Bay





KAPALUA RESORT, MAUI – July 17, 2006 – Kapalua Bay, the newest real estate offering at the beautiful Kapalua Resort in West Maui, today announced that contract sales have begun for its fractional ownership residences – The Ritz-Carlton Club, Kapalua Bay. Set amid a tropical setting, The Ritz-Carlton Club, Kapalua Bay offers 62 elegant, island-style residences sold in deeded, one-twelfth interests. Club Members will enjoy the benefits of being able to stay 21 or more days per year in fully furnished two- and three-bedroom residences ranging from 1,770-2,090 square feet. Not only will Members enjoy legendary Ritz-Carlton service, they will also savor such benefits as reciprocal use privileges at other Club locations worldwide. Sale prices range from $300,000 to $700,000, per interest.
The Ritz-Carlton Club, Kapalua Bay marks the first entry in fractional property ownership for Hawaii. Designed as a private club, this exclusive and luxurious real estate offering combines the benefits of second home ownership and luxury hotel services, but without the maintenance responsibilities. Club Members will take pleasure in lifestyle comforts like unpacking and pressing pre-sent garments, provisioning of the residences and arranging itineraries for the entire family, including tee times at Kapalua Resort’s golf courses, spa treatments and island excursions.
“We’re offering the incredible beauty and relaxed tranquility of Kapalua Resort – with Ritz-Carlton at your service,” said Jeffrey Berger, project director for The Ritz-Carlton Club, Kapalua Bay. “Club Members will appreciate this world-class vacation experience coupled with an intimate residential environment.”
In addition to The Club residences, Kapalua Bay features luxurious, privately owned condominiums known as The Residences at Kapalua Bay. These 84 opulently designed, three- and four-bedroom floor plans range from 3,000 to 4,200 square feet and include Ritz-Carlton property management and services. Sale prices start at $4 million.
All residences at Kapalua Bay, both fractional and privately owned, will be accented by a large outdoor lanai opening to breathtaking panoramic ocean views, a gourmet kitchen and private garden entryway.
“These new vacation homes will offer spectacular ocean and neighbor island views in Hawaii’s most beautiful resort setting, while complemented by Ritz-Carlton services,” said Ryan Churchill, president of Kapalua Bay, L.L.C. “This real estate opportunity has witnessed early success offering different choices. People can stay for a month in a fractional residence or stay for a lifetime in a wholly-owned condominium.”
Adding to the Kapalua Bay lifestyle will be a 6,100 square-foot beach club, 8,500 square-foot lagoon-shaped pool area with an indoor-outdoor bar and grill, lush tropical landscaping throughout the property, and a scenic 2.5-mile coastal trail. Residents will also have access to a 25,000 square-foot spa and exclusive dining and golf privileges at the world-famous Kapalua Resort, home to the PGA TOUR’s Mercedes Championships.
Kapalua Bay’s magnificent 24-acre contoured site is nestled in the lush, uncluttered northwest end of Maui. It descends gradually to Kapalua Bay Beach – once honored as “America’s Best Beach” – and offers picturesque sunsets and stunning ocean vistas with Molokai and Lanai across the channel. Just a short stroll away is D.T. Fleming Beach Park, named “America’s Best Beach” for 2006.
Construction of Kapalua Bay is scheduled to begin this fall. Occupancy is targeted for late 2008.
Kapalua Bay is being developed in collaboration with Maui Land & Pineapple Company, Inc., The Ritz-Carlton Hotel Company, L.L.C. and Exclusive Resorts.

We were in Whalers Village today and they have set up a sales office for this property.. We had dinner at Sansai last night and all the stores at Kapalua are closing (or closed) and they have begun distruction of the Kapalua Bay Hotel. In fact, Sansei is closing on Sept. 5 and moving to its new location (currently being built) up in Kapalua next to the general store.

Also, the area around the Westin on the lower H road is a builder's heaven...the new Westin buildings a another huge condo resort (both backing up on the stinky treatment plant)

...building is booming here in Miami....oops Maui!!

Yes, but traffic is at a stand still and they need to address that.

emuyshondt said:

FYI. Ritz Carlton is getting into timesharing, 3 week minimum, starting at $300K.

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Should this be under the Marriott board since they are a division of MVC?

They have been in the business for some time:
http://www.ritzcarltonrealestate.com/fractional/default.jsp

Kind of makes my timeshare purchases look like chump-change! We were at the Ritz last summer when they announced it. Thanks for confirming that it is way, way out of my league!

What is so amazing to me is that people are buying these very expensive weeks. This morning, when I was walking in our area, I stopped to talk about this lady's friendly old dog. I didn't know this person but our cruise to Alaska was mentioned and I referred to TUG during our conversation and she asked me what it stood for and then she told me her story.

Her family came back from Maui recently and stayed at the Westin resort. They liked it so much as there was a lot to do for their children so they went on a presentation and bought two weeks at the new resort that is being built right now. Ouch. I know that they are very expensive so I asked her when they bought. It was past their rescission time already so I didn't have the heart to tell her that they could have picked two weeks up on the resale market for so much less money. Why spoil their fun? I didn't ask her either how much they paid and she didn't volunteer.

She may go and have a look at TUG eventually or she may not. Many people are just not interested including our neighbors. They are just too busy to spend much time on the Internet to read forums, they tell me. I have referred them to TUG several times already and over yonder too.

The thing is, there is no resale market for WKORVN and probably won't be for several years. If that is the place you want to have, then you buy from the developer.

mj2vacation said:

Should this be under the Marriott board since they are a division of MVC?

They have been in the business for some time:
http://www.ritzcarltonrealestate.com/fractional/default.jsp

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We attended the Maui Marriott presentation yesterday and when we brought up the Ritz development and the salesman tried to distance himself from the property. He said while they were affiliated...they were not related, basically the Ritz is going for a completly different customer and he made it clear they were "fractional" shares, not really TS and that they are "really" expensive (compared to Marriott).

We saw the new villa model and I really didn't like it. The bedrooms, are very small especially compared to the "hotel" bedrooms in the old complex. The living space is larger in the new villas and of course, the full kitchen but I would prefer the ocean front one-bedroom we are staying in to the new villas.

MON2REY said:

The thing is, there is no resale market for WKORVN and probably won't be for several years. If that is the place you want to have, then you buy from the developer.

Click to expand...

Hmmm... several years? - more likely the year after they open if WKORV is any indication. I have actually seen resales that claim they are WKORVN units, but I believe they are giving mis-information - meaning they are are WKORV units, but since they are in 'north' Ka'anapali they are listed as WKORVN.

reference: http://www.sellmytimesharenow.com/s...sortId=7427&price=&unitType=&bathrooms=&week=

Broadway Plantation

Any one have an update or feelings about Sheraton"s Broadway Plantation? good place or bad?

Only $300,000....gee I wonder how LOW their MF will be?

maintenace fees at other Ritz properties are almost $4000 per week.
Mark