House hacking on Oahu

[Dennis Nikolaev]

Being a part of Great Resignation I am moving to Oahu. 4 kids me and my wife. I'm hoping to house hack. I hear that if you live on a property, then you may do the STR on it. I was wondering if it is real and what/who are the best resources to start with?

[Daniel A Lee Kim]

@Dennis Nikolaev

Hey Dennis, 

Bryan is correct with regards to STR, unless you have a license or you are in an approved zone you cannot STR. Minimum STR period has changed to 90 days now. Here are some recommendations I give to my clients and friends.

STR:

-Buy a condohotel that you can self manage.  Managements fees are pretty high and can eat up your profit.  Probably not the best option for house hacking since you have children.

Househacking:

-You can buy a house that has an ADU and you can rent those out to long term tenants.

-You can also a house and put an ADU yourself and then rent it out. Forced appreciation through the ADU, natural appreciation (avg 3-4% yearly with the exception of 2020-2021), and rental income from ADU.