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Updated over 5 years ago,
Property management companies in Maui, HI help needed
Hi! Most likely this question has been asked so if anyone can help with this:
- I'm looking to acquire a vacation rental condo on Maui, HI (specifically Kihei, HI) and it looks like that all of the recommended property management companies here are outrageously expensive charging 25 - 35% of gross rental. Self-management is a possibility here I'm from the mainland (Chicago area) and even with self-management you have to have someone here on the island to be accessible on call (so you hire either a person for that as an example $150/month fixed fee OR some Property management companies will do it for $7/day just to pick up a phone). So the question is: what other options are available? For me running the numbers and it seems like it won't make too much sense to buy a vacation condo with this very high fees OR I have to have a trusted face here to make sure that the work to manage the property is done correctly (if I choose a self-management option with that fixed fee kind of option).
Any ideas or help is really appreciated as we either withdraw from the offer or proceed with it!