Condo Buying Tips - From A Hawaii Real Estate Agent ~ Call 808-298-2030

▶ Use Eric As YOUR Real Estate Agent Call/Text 808-298-2030 http://www.HawaiiRealEstate.ORG AND Get Your ALOHA ON with my clothing collection http://www.iPracticeAloha.com 🌈 Mahalo for your Support!

Best West Side Maui Condo Videos:
Puamana - https://youtu.be/YDMl95ZFwIM
Honua Kai - https://youtu.be/vvATpT_IZQQ
Kaanapali Alii - https://youtu.be/bDlCRtI54xY
The Whaler - https://youtu.be/fvVSqMsl3TE
Paki Maui - https://youtu.be/ULNlr8hGy-4
Kuleana - https://youtu.be/2gdZlNFToTY
Leasehold VS. Fee Simple:https://youtu.be/KYOLdj2PFt8
Selling Your Maui Condo? - https://youtu.be/t0B7Ap9yy3E

Best West Side Maui Condo Videos:
Puamana - https://youtu.be/YDMl95ZFwIM
Lahaina Shores https://youtu.be/GrZkvojK9_8
Honua Kai - https://youtu.be/vvATpT_IZQQ
Kaanapali Alii - https://youtu.be/bDlCRtI54xY
The Whaler - https://youtu.be/fvVSqMsl3TE
Paki Maui - https://youtu.be/ULNlr8hGy-4
Kuleana - https://youtu.be/2gdZlNFToTY
Leasehold VS. Fee Simple:https://youtu.be/KYOLdj2PFt8
Selling Your Maui Condo? - https://youtu.be/t0B7Ap9yy3E

- To Maximize Your Return Condo Buying Tips for Hawaii How to Buy a condo for sale in Hawaii. Vacation Resorts on Maui, Oahu, Kauai, Big Island . Four Things You MUST Know Before Buying A Condo In Maui. If your realtor hasn't mentioned these important issues, you need to dig a little deeper. Tips To Maximize Your Return on You New Hawaii Condo 5 Things You MUST Know Before Buying A Condo In Maui. If your realtor hasn't mentioned these important issues, you need to dig a little deeper. (Scroll Down for Video)

1) Ocean View - Must have (or at least partial ocean view)

2) Only Buy Fee Simple (the only exception is a leasehold in a majority fee simple complex)

3) Evaluate the Financials - Expect a 2-5% Return - Cash on Cash Invested (see notes below on how to compare different units apples to apples)

4) Purchase at Fair Market Value or Lower - look at all comparable SOLDS in the last year and evaluate the price per square foot and adjust for view and the fit and finish of the unit. You have to know these numbers cold, otherwise you won't recognize a deal when it comes your way (or an over priced listing you need to low ball!)

5) Ocean Access - best case scenario is beachfront with deep water for swimming (no coral)

Bonus Tip - stay in the complex yourself, talk to other guests and owners. Read all the reviews you can find so you fully understand the pros and the cons before you close!

The BEST way to compare different condos is to create an "apples to apples" spreadsheet and determine the expected rate of return on your invested dollar. The most important step is to find out what is the ACTUAL historical AVERAGE nightly rental rate. (Take the gross income and divide by the # of nights rented)

The best way to compare multiple units financial performance is to make some assumptions - since every unit will have variables that will obscure the true potential return. Variables such as an owner who stays in the unit a lot, or a unit that is only currently being rented long term, or a management company that is under renting the condo (less than 80%) or is charging more than 30% management fee. So let's assume the unit will be rented 80% of time (with 20% vacancy or owner useage) and the management fee is 30%. The fixed costs will of course vary by unit - the HOA fees, the property taxes, the utilities etc.
This is very critical.

Especially when dealing with VRBO. Recent rule changes force you to create a new account when the old owner shuts down the account. So be sure they keep it going and you simply take over payment of the annual fee.

3) Does the property ALLOW short term vacation rental or long term OR BOTH? The vast majority of long term condominiums will NOT allow ANY short terms, BUT most of the short term properties will allow long term.

If it's a short term property, what is the percentage of long term tenants? Why should you ask this?

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Ultimate Coastal Property Management: Mastering Waterfront Leasing, Marina Operations & Oceanfront Rentals

Why Coastal Property Management is Essential

Managing coastal properties demands a unique blend of expertise and dedication. Coastal Property Management ensures that your waterfront assets not only retain their value but also thrive in the dynamic marine environment. From maintaining pristine beachfronts to navigating complex shoreline compliance regulations, professional management is key to unlocking the full potential of your oceanfront investments.

Waterfront Leasing: Maximizing Your Property's Potential

Waterfront Leasing is a lucrative opportunity for property owners looking to capitalize on their prime locations. Effective leasing strategies involve understanding market demands, setting competitive rates, and attracting quality tenants who appreciate the unique allure of waterfront living. By partnering with experienced property managers, owners can ensure high occupancy rates and optimal returns on their investments.

Beachfront Maintenance: Preserving Natural Beauty

Beachfront Maintenance is crucial for sustaining the aesthetic and structural integrity of coastal properties. Regular upkeep includes shoreline cleaning, erosion control, and the upkeep of facilities such as boardwalks and recreational areas. Proactive maintenance not only enhances the property's appeal but also complies with environmental standards, ensuring a harmonious balance between development and nature.

Marina Operations: Seamless Management of Marine Facilities

Effective Marina Operations are the backbone of any successful waterfront property. This involves managing dock spaces, ensuring the availability of essential services, and providing a safe and welcoming environment for boaters and enthusiasts. Streamlined operations enhance the overall experience, making your marina a preferred destination for boating activities and waterfront leisure.

Shoreline Compliance: Navigating Regulations with Confidence

Shoreline Compliance is non-negotiable in coastal property management. Adhering to local, state, and federal regulations ensures that your property remains legally sound and environmentally responsible. Professional property managers stay abreast of the latest compliance requirements, managing permits, and implementing necessary measures to protect both the property and the surrounding ecosystem.

Oceanfront Rentals: Creating Memorable Guest Experiences

Oceanfront Rentals offer unparalleled experiences for guests seeking the serenity and beauty of coastal living. Crafting memorable stays involves providing top-notch amenities, personalized services, and maintaining high standards of cleanliness and comfort. By focusing on guest satisfaction, property managers can foster repeat business and positive reviews, driving long-term success for your rentals.

Saltwater Property Care: Protecting Against Harsh Marine Elements

Saltwater Property Care is essential for combating the corrosive effects of the marine environment. This includes using specialized materials and coatings, regular inspections, and timely repairs to mitigate damage caused by saltwater exposure. Investing in robust property care measures extends the lifespan of structures and maintains the overall value of your coastal investments.

Conclusion

Mastering Coastal Property Management requires a comprehensive approach that encompasses Waterfront Leasing, Beachfront Maintenance, Marina Operations, Shoreline Compliance, Oceanfront Rentals, and Saltwater Property Care. By leveraging professional management services, property owners can ensure their waterfront assets remain valuable, attractive, and compliant. Embrace the expertise of seasoned coastal property managers to navigate the complexities of the seaside market and achieve sustained success.