Honoapiilani Highway SITE LUANA LAND AT HONUA KAI Ka anapali Beach Resort www.kaanapalibeachresortland.com Kai Malina Parkway Honoapiilani Park Access Road MAUI - FEE SIMPLE CONDOMINIUM DEVELOPMENT OPPORTUNITY
KA`ANAPALI RESORT Ka`anapali Beach Club KA`ANAPALI OCEAN RESORT VILLAS LUANA LAND AT HONUA KAI Ka anapali Beach Resort Maui Ka`anapali Villas MAUI RESORT & SPA KA`ANAPALI HONOAPIILANI HIGHWAY Maui Ocean Club Maui Resort and Spa
INVESTMENT SUMMARY ADDRESS: 130 Kai Malina Parkway Lahaina, HI 96761 TENURE: LAND AREA: Fee Simple 10.77 Acres TMK NO.: (2) 4-4-14:6, CPR Nos. 638-709 ZONING: HM - A hotel district is a high density multiple-family area bordering business districts or ocean fronts, or both. This district includes public and semi-public institutional and accessory uses. PROPERTY HIGHLIGHTS > > Prime luxury townhome development site > > Entitlements for 72 low-rise (2-story) townhomes > > Declaration of Property Condominium Regime documents have been recorded > > Whole ownership resort condominiums (not timeshares) > > Two ingress/egress driveways along Lower Honoapiilani Highway and Kai Malina Parkway > > Rare hotel-zoned land with entitlements in place within a luxury beachfront resort community > > Buyer may use existing front desk operations currently operated by Intrawest > > Best in class resort amenities that can be used by purchaser of townhome units > > Access to resort amenities including pool, fitness center, beach and valet > > Project is scalable and can be built in phases PROPERTY LOCATION > > Located in West Maui, within the world-class Ka anapali Beach Resort, one of the most frequented resort destinations on Maui for U.S. West Coast visitors > > Visibility and frontage along Honoapiilani Highway > > Within walking distance to the beautiful white sand beach of Ka anapali > > Minutes from Kapalua Airport and 45 minutes from Kahului International Airport
HOKULANI LUANA LAND AT HONUA KAI Ka anapali Beach Resort Proposed 72-Unit Townhouse Project KONEA
CONCEPTUAL SITE PLAN HONUA KAI RESORT & SPA SHORELINE
MAUI VISITOR INDUSTRY OVERVIEW 2014 2015 Visitor Expenditures (millions) $4,095 $2,602 1 Hotel Occupancy Rates 75.4% 78.5% 2 Hotel ADR $258.79 $277.46 2 Source: State Department of Business, Economic Development and Tourism, Hospitality Advisors 1 Projected 2 July year-to-date DEMOGRAPHIC SUMMARY (2015) 1-MILE 3-MILE 5-MILE 10-MILE Population 1,837 9,761 23,664 27,162 Average Household Income $54,033 $90,891 $89,360 $89,792 Median Age 37.2 41.9 39.3 39.2 Bachelor Degree Or Higher 337 3,178 5,744 6,820 Source: Sites USA
AREA HIGHLIGHTS Maui is the second largest island in Hawaii and lies midway between Oahu and the Big Island of Hawaii. The island is often called the Valley Isle because of its valley-like central isthmus stretching between two mountain masses. There are four main regions to the island West Maui, Central Maui, South Maui and East Maui. Both West Maui and South Maui are known for their pristine coastlines and luxurious resort areas. Central Maui is the primary commercial and residential hub for the island and East Maui is known for its beautiful rural upcountry island characteristics. The Kaanapali Beach Resort area is home to more than 4,400 lodging units with more than 1,300 additional units planned. Notable properties include the Hyatt Regency Maui Resort & Spa, The Westin Maui Resort & Spa, the Royal Kaanapali Golf Course, and the Whalers Village Shopping Center and Museum. The Kaanapali Beach Resort possesses international recognition as a destination resort, resulting in this area being second only to Waikiki in total visitors to Hawaii annually. Prosperous Economy Returns - After a few years under recessionary conditions, Hawaii s economy has prospered as the tourism industry has reached new record levels in visitor arrivals and spending, the construction industry is booming, and consumer confidence is high. Hawaii s unemployment rate was 3.7% as of December 2014, a significant drop from 7.6% in 2009. For Maui County, the unemployment rate was 3.8%, down from 9.4% in 2009. Job growth in the tourism, retail, and professional business services sector led the way for the drop in the unemployment rate. KAPALUA KAANAPALI LAHAINA PAIA WAILUKU KAHULUI MAKAWAO Visitor Industry - From 2011 to 2012, visitor arrivals jumped 10% statewide and visitor expenditures grew nearly 18%. In 2013 and 2014, the number of visitors increased another 2.6% and is projected to climb an additional 2.2% by 2015. More than 8.2 million tourists came to Hawaii in 2014 with nearly 2.4 million visiting Maui. KIHEI HALEAKALA HANA WAILEA
For more information, please contact: UNITED STATES MARK D. BRATTON* (R) CCIM 808 523 9708 mark.bratton@colliers.com DAVID SANTISTEVAN 858 677 5314 david.santistevan@colliers.com ASIA BRENDON FRYE +86 21 61414305 brendon.frye@colliers.com COLLIERS INTERNATIONAL - HAWAII 220 S. King Street Suite 1800 Honolulu, HI 96813 www.colliers.com/hawaii This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). 2015. All rights reserved. *Vacation Rental Permits to be applied for by new owner.
Confidentiality Agreements Colliers International 220 South King Street Suite 1800 Honolulu, HI 96813 Attention: Mark D. Bratton (R) mark.bratton@colliers.com 808-523-9708 direct 808-521-0977 fax Principal Confidentiality Statement Maui Beach Resort L.P., 2015 The undersigned has been advised that Colliers International HI, LLC ( Colliers ), has been retained on an exclusive basis by Maui Beach Resort L.P. ( Owner ) with respect to offering for sale the property known as Luana Land (the Property ). The Owner has indicated that all inquiries and communications with respect to the contemplated sale of such Property be directed to Colliers. All fees due Colliers in connection with the sale of the Property shall be paid by the Owner. The undersigned hereby acknowledges that it is a principal or an investment advisor in connection with the possible acquisition of the Property and agrees that it will not look to the Owner, or Colliers for any fees or commissions in connection with the sale of the Property. The undersigned also hereby acknowledges that it has not dealt with any broker, other than Colliers, regarding the acquisition, liability or expense, arising from claims by any other broker or other party the undersigned had dealings with (excluding Colliers) in connection with the sale of the Property. If a properly licensed real estate broker represents the undersigned, the undersigned and its broker must submit the Broker Confidentiality and Registration Agreement in order for such broker to receive any commission from the Owner in connection with this transaction. If the undersigned does not submit a completed Broker Confidentiality and Registration Agreement, then neither Owner nor Colliers shall be obligated to compensate any alleged brokerage representative of the undersigned making claims to commissions at a subsequent date. The undersigned hereby agrees to indemnify Colliers and the Owner against any compensation, fee, loss, liability or expense, including attorneys fees, arising from claims by any broker or any other party the undersigned has had dealings with (excluding Colliers) in connection with the proposed transaction. Notwithstanding the foregoing, if a properly licensed real estate agent represents itself as a buyer or if a real estate agent is a principal or owner of the undersigned, neither Owner nor Colliers shall be obligated to compensate the undersigned. Colliers has available for review certain information ( Confidential Information ) concerning the Property. On behalf of the Owner, Colliers may make such Confidential Information available to the undersigned upon execution of this Confidentiality Statement. The Confidential Information is intended solely for your own limited use in considering whether to pursue negotiations to acquire the Property from Owner. This is not an agreement to sell the Property nor an offer of sale. No 1
agreement binding upon the Owner of the Property, or any of its associated or affiliated companies, shall be deemed to exist, at law or equity, until the Owner of the Property enters into a formal binding agreement of sale. The Confidential Information contains brief, selected information pertaining to the business and affairs of the Owner, and has been prepared by Colliers primarily from information supplied by the Owner or the Owner s agent. It does not purport to be all-inclusive or to contain all the information, which a prospective purchaser may desire. Neither Colliers, nor the Owner make any representation or warranty, expressed or implied, as to the accuracy or completeness of the Confidential Information and no legal liability is assumed or to be implied with respect thereto. By executing this Confidentiality Statement you agree that the Information provided is confidential, that you will hold and treat it in the strictest of confidence, and that you will not disclose or permit anyone else to disclose the Information to any person, firm or entity (each a Third Party ) without prior written authorization of the Owner and Colliers and the execution by any such Third Party of a confidentiality statement whereby such Third Party agrees to strictly maintain the confidence of all Confidential Information disclosed, except that the Confidential Information may be disclosed to your partners, employees, legal counsel and lenders or pursuant to a court order. Owner expressly reserves the right in its sole discretion to reject any or all proposals or expressions of interest in the property and to terminate discussions with any party at any time with or without notice. If you do not wish to pursue acquisition negotiations with Owner you hereby agree to return the Confidential Information to Colliers. ACCEPTED AND AGREED TO THIS DAY OF, 2015 SIGNATURE: BY: TITLE: COMPANY: ADDRESS: EMAIL ADDRESS: PHONE NUMBER: FAX NUMBER: 2
Colliers International 220 South King Street Suite 1800 Honolulu, HI 96813 Attention: Mark D. Bratton (R) mark.bratton@colliers.com 808-523-9708 direct 808-521-0977 fax Broker Confidentiality and Registration Agreement Maui Beach Resort, L.P., 2015 You (the Broker ) have advised Colliers International HI, LLC ( Colliers ) that you wish to register a client with respect to the potential purchase of the Property. Colliers has been retained on an exclusive basis by Maui Beach Resort L.P. ( Owner ) with respect to the offering for sale of the property known as Luana Land (the Property ). The Owner has indicated that all inquiries and communications with respect to the contemplated sale of such Property be directed to Colliers. All fees due Colliers in connection with the sale of the Property shall be paid by the Owner. Colliers has available for review certain information concerning the Property which includes brochures and other materials (collectively Confidential Information ). Colliers will not make such Confidential Information available to the Broker or the Registered Potential Purchaser unless and until the Broker and the Registered Potential Purchaser have executed this agreement. On behalf of the Owner, Colliers is prepared to consider the Broker s registration of the undersigned principal (the Registered Potential Purchaser ). Upon Colliers receipt of this executed agreement, Colliers will consider providing the Confidential Information for the registered potential Purchaser s consideration in connection with the possible purchase of the Property subject to the following conditions: 1. All Confidential Information relating to the Property which may be furnished to the Broker and the Registered Potential Purchaser by Colliers shall continue to be the property of the Owner and Colliers The Confidential Information will be used by the Broker solely for the purpose of presenting same to the Registered Potential Purchaser and may not be copied or duplicated without Colliers written consent and must be returned to Colliers immediately upon Colliers request or when the Registered Potential Purchaser terminates negotiations with respect to the Property. 2. Neither Broker nor the Registered Potential Purchaser will disclose the Confidential Information to any person other than the Registered Potential Purchaser, unless Colliers has approved in writing such disclosure, provided, however, that the Confidential Information may be disclosed to the Registered Potential Purchaser s partners, employees, legal counsel and institutional lenders ( Related Parties ), for the purpose of evaluating the potential purchase of the Property. The Registered Potential Purchaser and such Related Parties shall be informed by the Broker of the confidential nature of the Confidential Information and must agree to keep all Confidential Information strictly confidential in 1
accordance with this agreement. The Broker shall be responsible for any violation of this provision by the Registered Potential Purchaser or Related Party. 3. The Registered Potential Purchaser authorizes the Broker to represent it as its Broker with respect to the purchase of the Property. The brokerage agreement between Owner and Colliers provides for a $75,000.00 commission to be paid in to the properly licensed broker representing the Registered Potential Purchaser in the successful purchase of the Property ( Cooperating Broker Commission ). The Registered Potential Purchaser agrees to pay any and all compensation claimed by Broker in excess of the Cooperating Broker Commission, and both the Registered Potential Purchaser and the Broker, hereby agree to indemnify the Owner and Colliers against any compensation, fee, loss, liability or expense, including attorney s fees, arising from claims for amounts in excess of the Cooperating Broker Commission by Broker and, in any amount, by any other party the Registered Potential Purchaser or Broker has had dealings with in connection with the proposed transaction. The Broker agrees it will not discuss the Property with any other party other than the Registered Potential Purchaser and that it will not distribute the Confidential Information or excerpts to any other party. The Registered Potential Purchaser acknowledges that it is a principal in connection with the purchase of the Property and the Registered Potential Purchaser and Broker hereby agree that they will not look to the Owner or Colliers for any commissions, fees or other compensation in connection with the sale of the Property in excess of the Cooperating Broker Commission. Additionally, the Registered Potential Purchaser acknowledges that he has not had any discussions regarding the Property with any broker or agent other than Colliers and the Broker. Notwithstanding the foregoing, if a properly licensed real estate agent represents itself as a buyer or if a real estate agent is a principal or owner of the undersigned, neither Owner nor Colliers shall be obligated to compensate the undersigned in any amount, including, but not limited to the Cooperating Broker Commission. 4. The Broker represents and covenants that it is, and at the time of the consummation of any sale of the Property to the Registered Purchaser will be, a duly licensed real estate broker in the State where the Property is located. 5. The Broker and the Registered Potential Purchaser understand and acknowledges that Colliers and the Owner do not make any representation or warranty as to the accuracy or completeness of the Confidential Information and that the information used in the preparation of the Confidential Information was furnished to Colliers by others and has not been independently verified by Colliers or by Owner and is not guaranteed as to completeness or accuracy. The Broker and the Registered Potential Purchaser agree that neither Colliers nor the Owner shall have any liability for any reason to the Broker or the Registered Potential Purchaser or Related Parties resulting from the use of the Confidential Information. 6. The Broker and the Registered Potential Purchaser hereby indemnifies and saves harmless Colliers and the Owner and their respective affiliates and successors and assigns against and from any loss, liability or expense, including attorney s fees, arising out of any (1) breach of any of the terms of this Agreement, and (2) claim or claims by any other broker, finder or other party if such claim or claims are based in whole or in part on dealing with the Broker or, the Registered Potential Purchaser, any Related Party or any of their 2
representatives for commissions, fees and other compensation for the sale of proposed sale of the Property to the Registered Potential Purchaser. 7. The Broker and the Registered Potential Purchaser acknowledge that the Property has been offered for sale subject to withdrawal from the market, change in offering price, prior sale or rejection of any offer because of the terms thereof, lack of satisfactory credit references of any prospective purchaser, or for any other reason whatsoever, without notice. Broker and the Registered Potential Purchaser acknowledge that the Property is being offered without regard to race, creed, sex, religion or national origin. If in agreement with the foregoing, please return two (2) original signed copies of this agreement to Colliers (Attention: Mark Bratton). ACCEPTED AND AGREED TO THIS DAY OF, 2015 (Signature) BY: TITLE: COMPANY: ADDRESS: EMAIL ADDRESS: PHONE NUMBER: FAX: REGISTERED POTENTIAL PURCHASER: ACCEPTED AND AGREED TO THIS DAY OF, 2015 (Signature) BY: TITLE: COMPANY: ADDRESS: EMAIL ADDRESS: PHONE NUMBER: FAX: 3