Kapalua Bay is truly a natural wonder. It's a beautiful horseshoe-shaped bay with very well-developed coral heads. It can be a little tricky getting in and out, as there are some large rocky areas at the water line. Just look for the light-colored water. That indicates a sandy bottom and makes your entry into the bay much easier. The variety of fish at Kapalua is far greater than Molokini, and the water is a bit warmer. You can swim way out to the outer reef without danger of getting sucked into the Tahiti Express. We saw three varieties of moray eels, a pair of turtles wedged into holes in the outer reef, and HumuHumus too numerous to count, same with Yellow tangs. There were huge Blue Cavalle (in the Jack family), bright yellow trumpet fish, schools of needle fish floating near the surface, and Bird Wrasses--male and female--Christmas Wrasse, and Rainbow Cleaner Wrasse. The list goes on and on.
If you want to get hooked on snorkeling for life, go to this beach first. This is also a great beach if you just want to sit back and relax. There is plenty of sugary sand and not as many people as the other more centrally located beaches. All in all, I think Kapalua is my favorite beach on Maui. There is a small public parking lot, but it tends to fill early, so mornings are best. There are restrooms and two showers. There is a paved walkway the runs the length of the beach, kind of like at Ka'anapali, and there is lawn behind the walkway. It's the perfect spot to have a picnic. I was in the water so much, I didn't get any pictures of this beautiful spot unfortunately.