buy real estate in Hawaii?
Mary S asked:
i am looking at buying some real estate as investment in Hawaii. which area has the best deals now? Kauai, Honolulu, Kalaheo or kilauea?
i am looking at buying some real estate as investment in Hawaii. which area has the best deals now? Kauai, Honolulu, Kalaheo or kilauea?
January 11th, 2009 at 2:33 am
i read about this article. it may help:
Why Consider Kauai Hawaii Real Estate?
Thinking hard whether to buy a property in Hawaii?There might be many reasons to do so.Then Hawaii would be the right one well known for it’s beautiful island filled with beaches, added to that is the breathtaking scenery and tourist attractions. If you’re undecided about which island on which you want to own property, you should give some thought to Kauai Hawaii real estate. The island of Kauai is one of the state’s most popular and has a lot to offer to property owners, locals and vacationers. In this article you will learn more about the gorgeous gem that is the island of Kauai.
The island is Hawaii’s northernmost and is affectionately known as the Garden Isle. Here you will find majestic mountain spires, stunning cliffs, emerald green valleys and of course, spectacular beaches. If you’re the adventurous type, the Napali Coast is a great place to visit. Hiking, boating and camping are some of the outdoor activities you can enjoy in this area. On the south shore of Kauai, you will find Poipu Beach. This beach was once named Best Beach by the Travel Channel. Sunbathing, scuba diving, swimming, surfing, fishing and boating are some fun activities to enjoy in this area.
Waimea Canyon is another point of interest on the island of Kauai. This canyon is 3,500 feet deep and features breathtaking rock formations. You will find plenty of hiking trails for all levels of experience here. In addition to lots of nature oriented activities, Kauai also has great shopping and delectable dining. You’ll find local cuisine as well as international cuisine to meet all tastes. If you are a realtor selling Kauai property, all of the attractions mentioned in this article can help entice potential buyers. If you are a potential buyer, all of these attractions may certainly influence your decision.
When you buy Kauai Hawaii real estate you are buying property in a stunning location with a lot to offer. In addition to the amazing wildlife and natural scenery, you will also find no shortage of cultural attractions like historic spots and museums. Whether you are an adrenaline junkie seeking excitement or someone who wants to enjoy quiet relaxation, you cannot go wrong when you choose the gorgeous island of Kauai. taken from :
January 13th, 2009 at 5:00 pm
If you’re buying property as an investment you have to ask yourself - What is the purpose of this investment and does the payoff justify the risk? In order to determine where the best deal can be found you have to decide what purpose the property is to serve. I would suggest that the property fulfill multiple purposes instead of just a pure investment. As a pure investment you are totally at the whim of the real estate market. Ask yourself,
1) Do you want to use the property as a vacation home?
2) Are your goals long term?
3) Can you cover any monthly shortfall if the rent does not cover all the expenses?
4) Can you manage the property from a distance? If not, what are the expenses associated with a local management company?
We purchased property in Hawaii 2 years ago with the intention of renting it out and eventually to become our retirement home. We lucked out in that the property included a transient vacation rental permit. No new permits have been issued since the late 1980’s so we’re grandfathered in. This allows us to use it as an investment, vacation home and eventually a retirement home. There’s no better investment than buying property and having someone else pay for it. Typically long term rent in Hawaii, although very high by mainland standards does not cover the mortgage and other expenses. So there will be a monthly shortfall to cover. This may or may not be offset by an increase in market value, but you only realize that when you sell. In the meantime you have to cover that monthly shortfall. A transient vacation rental requires a lot more work but comes closer to paying for itself.
Where to invest depends in large part on what you intend to get out of the property.