I’m writing this from the taxi on my way to catch a plane back to Maui, but wanted to post an update.
The confirmation hearing for the Residences on Kapalua Bay (formerly the Ritz-Carlton Residences, Kapalua Bay) took place this morning at the first circuit court. The judge first heard a motion to intervene on behalf of an original reservation holder in the developer sales. Three parties bid, with a starting bid of $60 million, bid up to $100 million in 22 increments.
We are hopeful that with this confirmation that matters will be resolved and sales of the remaining developer inventory will recommence.
For more information watch my blog for updates, or visit: The Residences at Kapalua Bay