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                SECURITIES AND EXCHANGE COMMISSION
                     Washington, D. C. 20549
               __________________________________

                            FORM 10-Q

[ x ]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE    
       SECURITIES EXCHANGE ACT OF 1934
       For the quarterly period ended December 31, 1996.

[   ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE   
       SECURITIES EXCHANGE ACT OF 1934
       For the transition period from:

                  ------------------------------
                  Commission file number 0-27480
                  ------------------------------

                    LAHAINA ACQUISITIONS, INC.
     (Exact name of Registrant as specified in its charter.)

         COLORADO                              88-0338315
(State of other jurisdiction of               (IRS Employer
incorporation or organization)                Identification No.)

                      5459 South Iris Street
                    Littleton, Colorado  80123
   (Address of principal executive offices including zip code.)

                          (303) 986-6923
      (Registrant's telephone number, including area code.)

Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or l5(d) of the
Securities Act of 1934 during the preceding 12 months (or for
such shorter period that the Registrant was required to file such
reports), and (2) has been subject to such filing requirements
for the past 90 days.

                       YES X            NO

The number of shares outstanding of the Registrant's Common
Stock, no par value per share, at January 1, 1997 was 996,500
shares.    

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                             PART I.    

ITEM 1.   FINANCIAL STATEMENTS.













                    LAHAINA ACQUISITIONS, INC.

                    INTERIM OPERATING RESULTS
                           (unaudited)

































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                    LAHAINA ACQUISITIONS, INC.
                          BALANCE SHEET

                              ASSETS


                                        December    
                                        31, 1996       September
                                        (Unaudited)    30, 1996

[S]                                     [C]            [C]
Organization costs                      $   600        $   600
                                         ======         ======

               LIABILITIES AND STOCKHOLDERS EQUITY

Liabilities
  Accrued expenses                      $ 1,260        $     -
  Loan payable to officer                 2,982          2,982
                                         ------         ------
                                          4,242          2,982

Stockholders equity
  Common stock, 800,000,000
   shares authorized no par value;
   996,500 shares issued and
   outstanding (Note A)                     300            300

  Preferred stock, 10,000,000
   authorized, no par value                 -0-            -0-

  Paid in capital                           300            300

  Accumulated deficit                    (4,242)        (2,982)
                                         ------         ------
 
    Total                               $   600        $   600
                                         ======         ======











See accompanying notes to the financial statements.  

                               F-1

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                      LAHAINA ACQUISITIONS, INC.
                        STATEMENT OF OPERATIONS
                              (Unaudited)


                                        Three Months Ended
                                            December 31,
                                   1996                     1995

[S]                                [C]                      [C]
Revenues                           $    -0-                 $ 
-0-

Expenses
  Legal and accounting fees           1,260                   
450
                                    -------                 
-----

Net Income (Loss)                  $ (1,260)                $
(450)
                                    =======                 
=====


























See accompanying notes to the financial statements.

                                  F-2

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                      LAHAINA ACQUISITIONS, INC.
                        STATEMENT OF CASH FLOWS
                              (Unaudited)

                                  Three Months Ended December 31,
                                        1996           1995

[S]                                     [C]            [C]
Cash flows from operations:
  Net income (loss)                     $ (1,260)      $ (450)
  Increase in accrued expenses             1,260          -0-
                                         -------        -----
Net cash (used) from
 operating activities:                  $    -0-       $ (450)
                                         =======        =====
Cash flows from investing
 activities:                            $    -0-       $  -0-
                                         -------        -----
Net cash (used) by
 investing activities:                  $    -0-       $  -0-
                                         =======        =====
Cash flows from financing
 activities:
  Loan - officer                        $    -0-       $  450
                                         -------        -----
Net cash (used) by financing
  activities:                           $    -0-       $  450
                                         =======        =====

Beginning cash balance                       -0-          -0-

Ending cash balance                          -0-          -0-
















See accompanying notes to the financial statements.

                                  F-3

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                      LAHAINA ACQUISITIONS, INC.
                     NOTES TO FINANCIAL STATEMENTS
                           December 31, 1996


Note A - Summary of Significant Accounting Policies

ORGANIZATION

Lahaina Acquisitions, Inc. was incorporated under the laws of the
State of Colorado in April 1989.  The Company is in the
development stage and has had no operations.

The Company is in the development stage as more fully defined in
Statement No. 7 of the Financial Accounting Standards Board.  The
Company intends to actively seek, locate, evaluate, structure and
complete mergers with or acquisitions of private companies,
partnerships or sole proprietorships.

In September 1989, the Company filed a Registration Statement
with the United States Securities and Exchange Commission to
register 100,000 Units of its securities sold to Coyote
Acquisitions, Inc.  Each Unit consists of one share of Common
Stock, five A Warrants and five B Warrants.  In April 1991, the
Company cancelled the 100,000 Units of its securities issued to
Coyote Acquisitions, Inc. since the Securities and Exchange
Commission failed to clear the Registration Statement.

In May 1991, the Company distributed 496,500 Units of its
securities under the provisions of Regulation D, Rule 504 on a
pro rata basis to the shareholders of St. Joseph Corp.  Each Unit
consists of:

   1 Share of common no par stock
   2 Class A common stock purchase warrants
   2 Class B common stock purchase warrants

Each Class A warrant entitles the holder to purchase one share of
common stock at $1.00 per share.

Each Class B warrant entitles the holder to purchase one share of
common stock at $1.50 per share.

These common stock purchase warrants expire May 10, 1999.  The
Company has the right to redeem the warrant upon 30 days written
notice at $.0001 per share.





                                  F-4

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                      LAHAINA ACQUISITIONS, INC.
                     NOTES TO FINANCIAL STATEMENTS
                           December 31, 1996

Note A - Summary of Significant Accounting Policies

ORGANIZATION (continued)

Professional fees of $450 were incurred in December 1995 for the
audit for the years ending September 30, 1995, 1994, 1993, 1992,
1991 and 1990.  This expense was paid by the President of the
Company.  Additional accounting fees of $1,279 were incurred in
May 1996 and were paid by the President of the Company.  Legal
fees of $1,253 were incurred during March and June 1996 and were
paid by the President of the Company.


ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
          CONDITION AND RESULT OF OPERATIONS.  
  
Results of Operations - Inception (April 5, 1989) through
December 31, 1996.  
  
     The Registrant is considered to be in the development stage
as defined in Statement of Financial Accounting Standards No. 7. 
There have been no operations since incorporation.  
  
Liquidity and Capital Resources.  
  
     The Registrant has no cash as of December 31, 1996.  
  
     There have been no material changes in the Registrant's
results of operations, since filing its Form 10-K with the
Securities and Exchange Commission on December 27, 1996. Said
Form 10-K is incorporated herein by reference.  

















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                              SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.

     Dated on this 10th day of February, 1997.

                        LAHAINA ACQUISITIONS, INC.
                        (the "Registrant")

                        BY:  /s/ Philip J. Davis, President and a
                             member of the Board of Directors


                        BY:  /s/ Charles C. Van Gundy, Treasurer,
                             Chief Financial Officer, Principal
                             Accounting Officer and a member of
                             the Board of Directors