Is now a good time to buy property on the Big Island of Hawaii?
BigIslandHawaii asked:
We are looking to buy a property and rent it out as a vacation rental, not a long term rental. If anyone has any guidance on this, suggestions, or recommendations they would be greatly appreciated. Thank you.
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We are looking to buy a property and rent it out as a vacation rental, not a long term rental. If anyone has any guidance on this, suggestions, or recommendations they would be greatly appreciated. Thank you.
November 16th, 2008 at 12:13 pm
depends on how much money ur willing to spend i use to live there and they are not cheap
November 18th, 2008 at 2:19 am
pick a neighborhood you like and review recent sales at. There is a tool on this website that evaluates recent sales (via public record) and can tell you wether the neighborhood is appreciating or not. This tool will also help you to gague wether a property you are considering is being offered at market price.
Go with a local Hawaiian Lender, like Hawaii HomeLoans (www.hhl.biz) Educate yourself regarding the nature of leasehold properties. Mortgages can be tough to obtain in Hawaii, even with respect to individuals with excellent credit. Make certain that your purchase has a relatively high owner occupancy ratio (50 % Owner Occupied or better) Stay away from High Rise condos and condotels. These are layered with risk, and lenders charge higher rates on these properties.
Good Luck!!
November 19th, 2008 at 4:28 am
For the short term or medium term,better we rent it.If buying it,we need a lot of times arranging the legal documents,and when we want to leave and sell it,also things will be complicated.
November 21st, 2008 at 4:37 am
Investment and rental legal resources with all the connections right in Hawaii sitting right in your home…Laws & Statutes and click on Hawaii. [ us investment property ]
On the rental rights I’ll put you staright through to Hawaii