Waikapu is a village located in central Maui and is known for its beautiful scenery and access to various amenities. Several pros and cons of purchasing real estate in Waikapu, Hawaii are:

Pros:
- Beautiful location: Waikapu is surrounded by mountains and offers stunning views of the ocean.
- Accessible amenities: Waikapu has all the necessary amenities, including shops, restaurants, parks, and schools, making it a great place to live.
- Peaceful and quiet: Compared to other touristy locations in Hawaii, Waikapu is relatively less crowded and offers a peaceful and quiet environment.
- Active community: There is an active community in Waikapu, with various events and activities throughout the year.

Cons:
- High cost of living: Hawaii has a higher cost of living than many other states, and Waikapu is no exception. The cost of purchasing a home or renting a property is comparatively high.
- Distance from the beach: Although Waikapu offers stunning views of the ocean, it is not located directly on the beach, which means that residents need to drive or travel to the beach.
- Weather: While Hawaii is known for its pleasant tropical climate, Waikapu can experience high levels of rainfall, particularly from October through March.

Overall, Waikapu is a beautiful and peaceful location, offering access to various amenities and a strong sense of community but has a high cost of living and can experience heavy rainfall.