April 3, 2006
Kapalua Bay Accepting Sales Reservations for Luxurious New Residences on Maui
KAPALUA, MAUI – April 3, 2006 – Kapalua Bay announced that sales reservations are being accepted for The Residences at Kapalua Bay, the elegant oceanfront collection of 84 private ownership condominiums at the renowned Kapalua Resort in West Maui.
The Residences will offer upscale, contemporary island-influenced homes with spacious floor plans ranging from 3,000-4,200 square feet, and highlighted by three-bedroom / three-bath / den options and a full appliance package. Owners will enjoy the management services and amenities provided by The Ritz-Carlton Hotel Company. Sales prices start at $4 million.
The luxurious new homes are part of Kapalua Bay, the latest real estate offering at Kapalua Resort. Kapalua Bay is being developed in collaboration with Maui Land & Pineapple Company, Inc., The Ritz-Carlton Hotel Company, L.L.C., and Exclusive Resorts.
“This is an exceptional real estate opportunity combining ownership of new oceanfront homes in one of Hawaii’s most beautiful resorts, and the comforts of Ritz-Carlton’s legendary service,” said Jeffrey Berger, director of sales and marketing for Kapalua Bay.
Complementing The Residences will be a 6,100 square-foot beach club and 8,500 square-foot multi-level recreational area including a lagoon-style pool, and bar and grill. Residents will also have access to exclusive resort golf and dining privileges, and a 30,000 square-foot spa.
Kapalua Bay’s magnificent 24-acre setting overlooks “America’s Best Beach” and features beautiful sunsets and stunning vistas of Molokai and Lanai. When completed, nine distinctive structures ranging from three to six stories will follow the descending contour of the coastline to the sea. Occupancy is targeted for late 2008.
Of the 84 condominiums being offered for The Residences, 28 are being purchased by Exclusive Resorts for use by its members in the club’s portfolio of luxury residences.
In addition, 62 residences will be constructed and sold in deeded, one-twelfth fractional ownership interests as The Ritz-Carlton Club, Kapalua Bay. Private residence club Members will enjoy 21 or more days per year in fully furnished residences ranging from 1,770-2,090 square feet. Members also enjoy Ritz-Carlton services and amenities, and reciprocal use privileges at other Club locations worldwide. Contract sales will begin July 1, 2006.
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