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.
2006-07-05 12:02:42 · 5 answers · asked by BigIslandHawaii 1 in Business & Finance ➔ Renting & Real Estate
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
2006-07-18 01:18:46 · answer #1 · answered by Anonymous · 1⤊ 0⤋
pick a neighborhood you like and review recent sales at www.zillow.com. 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!!
2006-07-12 11:58:29 · answer #2 · answered by User 3 · 0⤊ 0⤋
that's a... super island. And sure, delivery could be greater of an argument. My concerns may be: in case you ought to ask, you're probable unlikely to purchase in a smart place or for the splendid motives. Assuming you do not stay on the island or in Hawaii, you are going to make a screw up the housing marketplace, and that doesn't circulate over properly regionally. There additionally are decent odds which you does not finally end up renting completely legally, so which you ought to be careful with issues you're finding at. people who purchase assets in Hawaii as a hypothesis factor do not circulate over properly, and additionally you will see that seem in an excellent kind of regulations. some homes could be greater poorly built than others, and while you're actually not interior of sight, you're able to have a greater good time protecting an eye fixed on issues and retaining them good. If there's a niche the place you're actually not renting, the completed place might desire to flood or get fed on by ability of termites or infested with bugs and additionally you does not comprehend it. And, the kind one reason.... those finding to purchase homes like this generally finally end up identifying to purchase some thing in an area that's already primary (or suspected) to be in an area of destiny lava circulate, or on the least earthquake activity. good success with that.
2016-12-08 16:05:09 · answer #3 · answered by dobard 3 · 0⤊ 0⤋
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.
2006-07-15 14:04:01 · answer #4 · answered by Chuong Seng Ly 4 · 0⤊ 0⤋
depends on how much money ur willing to spend i use to live there and they are not cheap
2006-07-05 12:06:33 · answer #5 · answered by orange_crush_05 6 · 0⤊ 0⤋