2001 KZ1000P Hot White/Red wire & other issues

well the Gremlins have started to rear their ugly heads

First off I lost all electrical power, lights, gauges. Then they wouldnt shut off with the key off

so then i opened the seat and started feeling around the White/Red power wire is warm bordering on hot to the touch.

Bike runs just fine though

Any thoughts?

No farkels or add on electrial add ons

If losing all power then having it when your not supposed to, I would be eyeballing the ignition switch. If not already done it would be wise to take a night and a six pack and clean all electrical connectors with de-oxit, keeping an eye out for exposed wiring and poor looking( corrosion, dirt, burnt or broken) connections.

White/Red power wire is warm bordering on hot to the touch

As above, usual suspect the ignition switch - a removable disc just under the ignition lock. Also pay attention to black / yellow ground (-ve) wires and grounding points.

Wiring Heat = too high current = high resistance somewhere