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Real Estate Education

How To Secure Your First Oahu Rental When Moving To Hawaii.

—  Last week I received two inquiries from individuals moving to Hawaii for new job opportunities. Both were excited and searching for answers on how to solve their immediate rental housing need. Perhaps you too are moving to Hawaii, looking to rent because you are not ready to buy. Here is how you do it: 1)  How to find the best deals on airline tickets If you have not booked …Read More

Oahu Real Estate Market Outlook – May 2018

— Courtesy of the Honolulu Board of Realtors, on May 9, 2018, local economist Paul Brewbaker with TZ Economics shared his view on the economy, and in particular his outlook for Hawaii’s real estate market. I first met Paul in 2000 when he boldly predicted that Oahu’s single-family home median sales prices would more than double within 7 years. Unbelievably his prediction came true in 2007. Since then we have …Read More

Hawaii Real Estate And The Power of Staging

Hawaii Real Estate and The Power of Staging – Neuroscience has proven that people buy on emotion and justify with logic afterward. This holds true even for Hawaii real estate. 95% of the time this emotional buying decision is made subconsciously, often within seconds of experiencing the positive emotion. “It just felt right when I first saw the property.” This intuitive gut feeling then triggers the urge to explore the …Read More

Should I pay down or pay off my mortgage? Or should I buy more investment properties?

The overriding question is: “What else could I do with my time and my money?” The answer to this question depends on the current state of your financial affairs. Financial health requires a balance of: a) growth above the rate of inflation, and b) prudent risk management. You need both, but depending on where you are in life, your focus might be slanted toward either growth mode or preservation mode. …Read More

Hawaii Real Estate – The Sellers’ Obligation To Disclose

Hawaii Real Estate – The Sellers’ Obligation To Disclose – Sellers of Hawaii real estate are obligated to disclose any “fact, condition or defect, past or present, that could measurably affect the value of the property for sale to a reasonable person.” Realtors representing sellers require their clients to complete the Seller’s Real Property Disclosure Statement. See a blank copy of the form here. Sometimes sellers take ‘facts, conditions or …Read More

WHEN YOUR HOME IS INVOLVED IN A DIVORCE

Divorcing Your Home Whether your divorce is friendly and just the best thing to do for both of you – or it is a contentious situation and neither of you can talk without your attorneys present – or you are somewhere in between, if there’s a house involved, your situation just got a little, and sometimes, a lot more complicated. That’s why we put together this ‘Divorcing Your Home’ Guide. …Read More

How Is Assessed Value Determined for New Condo Developments in Honolulu?

An appraiser from Honolulu’s Real Property Assessment Division will determine the assessed value of a property on October 1st of any given year. The appraiser will look at 5 comparable sales (ideally comparable sales in the same building, but could also be comparable sales in other buildings), which have sold prior to June 30th and then also take in to account any possible market movements July through September to determine …Read More

The Market Is Up! Should I sell My Hawaii Investment Property?

A client recently asked me if they should sell their Honolulu properties since values have increased significantly. Oahu’s single-family home and condo median sales prices have been increasing by 4.84% and 4.67% respectively, on average per year, since 1985. Before I share with you the only three reasons why I would sell my rentals, let’s clarify Hawaii’s market reality. In general, an increase in the value of an appreciating asset …Read More

Nuts & Bolts of Hawaii’s Real Estate Purchase Contract  

This overview of the Hawaii Real Estate Purchase Contract covers major parts of the contract in an easy to understand format with simple explanations. I will review highlights of the contract  and focus on key parts.  To keep things simple, I will reference a range of days typically used for the contingencies. Review of Key Sections of the Purchase Contract Page 1 (top part of page) Items written by hand …Read More

Contingencies to Terminate Contract for Hawaii Real Estate Buyers

Realtors in Hawaii use a standard 14 page Purchase Contract when preparing an offer, on behalf of a client, to purchase real estate in Hawaii. The Purchase Contract includes various contingencies which allow the Buyer to terminate the contract within certain timeframes with full refund of any deposits made towards the purchase. A contingency is a “condition that needs to be satisfied” (e.g. Buyer’s approval of the home inspection) or …Read More