New and moving to Hawaii. I want your opinions on my opportunity

[Andrew Meikle]

Thanks for the guidance here.  I am new to this but have been fortunate to have great equity in my current home.

I plan to move to the Big Island of Hawaii in the next year.  I have appx 200K equity in my current home and want to use this to get there.  The job market is thin there and will have to start a business which will be a cold pressed juice mobile establishment.

The finances will look like this:  80k to the new home of 280k. I will finance the 200k.

Pay cash for the mobile business of appx 60k well equipped.  This will leave a buffer of 60k to ensure I start up, and can keep running.  All goes well this will leave 60k to also re invest into something else down the road.  

I reach out to ask you all as I am completely new to this and hope to turn my main home as I have done before.  I also would like to invest in real estate as time goes on with any extra money that comes in.

Thanks so much for any insight you may provide.

Andrew

[Jay Hinrichs]

Originally posted by @Bryan Martin:

@Jay Hinrichs @Andrew Meikle The Wedding Company makes a lot of sense. It may be tough getting established, but weddings are expensive and I imagine it's busy year-round in Hawaii.

Have you spent substantial time on the island? If not, maybe try to get a job there or even a remote job you can do from home to start until you get a feel for what is needed on the island. I personally think the juice business probably has a high probability of failure. I could be wrong though as I'm by no means an expert.

U would need a Japanese partner for sure.. but its a HUGE business in Honolulu dont know about Island of Hawaii its a big island with the main tourist areas From kona up to the north so pretty spread out. 

the ones I see in Honolulu have packages with the big Hilton Waikiki  the Japanese tourist really love Waikiki Although with Covid I bet its been shut down.. Japan is still way behind us .  they have not even started vaccinations or its just now starting. 

Its very clannish there as well ..   End of the day its tourist based.. if I was doing food cart I would go for the Snow cones  the guy who has one the one in Kihei kills it.. so do some of the Ice cream vendors.