Investment advice on renting current home

[Ryan Johanson]

We are building a new home and are trying to decide what to do with our current home. We don't need the money from the sale for the down payment.

Currently, we are thinking of renting it out. It would rent for about $2,500 per month in the Colorado Springs area. Mortgages is about $1,500.

We could sell it for about $500,000. 

We would like to purchase a STR in Hawaii (Kauai) somewhere down the road.

Should we keep the rental and then purchase some more? 1031 exchange for a STR in Hawaii? Can we do a 1031 since it has been our primary residence? Other ideas?