All Forum Posts by: Amy D.

Currently have an offer accepted for a condo, which is in a building of 3 units. A structural engineer has visited to give us a report on the soundness of the foundation. It’s on a hillside and has some slope creep. Never repaired before. There is dirt pouring into the slope side bottom floor basement after pipe flooding and was only caught because the drywall and sheetrock were removed. 

If the seller has it repaired before closing or if we negotiate a lower price and have the work done after closing, what happens with the condo association's responsibility to maintain the exterior including the foundation, which is written in their bylaws as a common element? Wouldn't the seller have to go through the HOA to get this repaired? Or not if it's related to the burst pipe?

Additionally, if we buy it with the foundation fixed on this condo, what happens if the other two begin having foundation issues? Suddenly, we’re on the hook for their repairs through special assessments? I’d like to know if they have issues, as well, but these are not primary residences and the other owners aren’t in the state. We aren’t the owners so asking for the other connected properties to be inspected sounds like an overreach. 

I’ve already tackled financing. Got that covered outside of a traditional mortgage loan. Thanks for taking a look at this and giving me some perspective. 

Hi All, 

I found this thread when searching for STR licensing requirements on Maui. The property we are looking at is in the tourist area, it is a condo-tel and it is a "platinum" property, $1050-1200/nightly. Both STR management companies have an office on-site and charge 35%. With comprehensive spreadsheeting, it's still cash flow positive by $40k-60k each year, even after all of the expensive fees, HOA, etc.

We will ask for two years of rental data prior to closing. We've been interviewing the STR management companies for a tailored contract that suits the property and our needs. We recently stayed and other units were almost completely occupied. Spoke to other guests and they were often saying how they rent there yearly, so it seems to have a solid guest return rate.

Question for seasoned Hawaii STR owners and RE pros familiar with the market, what are we missing here? Also, as GET is a transactional tax, does the buyer pay this upon purchase on RE?

Thanks for your time! 

Thank you. Yes, our county does not recommend these systems and asks for them to be eliminated and upgraded to a septic/well. It’s a remote area and services are limited. It seems like an expensive upgrade? 

Does anyone have experience buying a property with a cistern and vault plumbing system? Did you upgrade it to a well/septic? Thank you!