4141 LEI O PAPA RD Unit 6, Kauai, HI 96722

Property Description

Enjoy Affordable Fractional Ownership - Deeded fee simple ownership for Interval OCTOBER 15 to DECEMBER 14 every year. Can be paid off free and clear for similar amount as down payment on a similar condo. Located in Princeville’s prestigious gated community of the Villas of Kamali'i, you will enjoy panoramic mountain views, heated swimming pool, spa and barbecue area, not to mention being minutes from some of the most beautiful beaches in the world. A 2021 Honda Pilot SUV, seating 8, is included in the ownership and the garage plus dedicated outdoor parking area makes for convenient ease of use. This beautifully furnished turnkey townhouse style condo sits overlooking the Makai Golf Course with great views and cool trade winds. While most units are surrounded by other buildings or busy roads, the entire side fronting the golf course gives a spacious, open feeling for this home. The upstairs bedroom even has mountain views. All costs for operating the condo are equally shared by the six fractional interval owners and include all utilities, internet, phone, TV, homeowners association dues, taxes, insurance, vehicle costs, and a reserve allowance for replacement of furniture, appliances, and vehicle. Cost savings from not having to rent a vehicle for 2 months each year compensate for a large part of each owner’s total annual costs. For 2023 each owner’s annual operating cost is billed quarterly at $1,500 plus a $200 reserve allowance. This cost comes out to approx. $113 per night which should be contrasted to vacation rentals of similar units of $500+ (plus taxes and fees) per night. This unit cannot be used as a vacation rental.