New investor in Hawaii

[Rachel Ararasato]

Aloha all I am trying to learn more about real estate. I live in Hawaii and with the economy here it feels impossible to buy and turn a profit in this market. Has anyone had any success? Please share your story

[Cassie Chun]

Originally posted by @Rachel Ararasato:

@Cassie Chun

Will do. Care to share your niche and why you were led down that specific path?

I became a landlord without intentions or awareness of real estate investing when we moved into our current home and decided to rent our condo. Six years later I began listening to podcasts on real estate investing because I wanted to learn something new while working out at the gym. It was totally a random pick but it didn't take long for me to get hooked. 

I started out thinking there is no way I can invest in Hawaii because it's so expensive. I went down the path of working with an out of state turn-key provider, got a property under contract in Ohio, then realized that I wasn't ready to invest out of state. I wanted to find a way to make something work in my local market. That's when I met @Isi Nau right here on BP and after several discussions with him was convinced that I could find a deal on island. 

I am a newbie buy and hold investor, following a "slower" path to wealth building. I happen to enjoy my W-2 job, so my goal has been to supplement that with cash flowing properties that will provide additional income now and in retirement when they are (hopefully) paid off. 

With that said, I will admit that scaling your portfolio is challenging in our market, especially because you typically need to put 20-25% down for investment properties. Depending on your individual circumstances, there are definitely ways to get in for less. If you find yourself feeling discouraged because the prices in Hawaii are so high, it probably means you are looking at all the wrong properties. Meet with an agent like Isi Nau who is also an investor and he can show you that it's possible to invest in Hawaii.