All Forum Posts by: Bryan Vukelich

 As always, mahalo Andrew for the "shout out". Aloha 

 Aloha Todd - I work with Kento, an excellent realtor on Maui.  I will message you directly with his contact info.  

Mahalo @Collin Hays, @John Underwood and @Andrew Steffens - your responses are very helpful. Wish you all the best with the management of your properties.  

Aloha fellow STR property managers,

I'd love to your feedback if you want to share - How many booking platforms do you use to market your STR listings and why you only use one, or several or as many as possible?

Many thanks 

Aloha @Caitlin Fawcett and as always, big mahalo @Andrew Steffens for the shout out.

Caitlin, regret to read about your financing issues - know how frustrating that can be.  I will message you directly the contact info for three lenders I work with that are very investor friendly.  I recommend you get their input. And if I understand the situation correctly, you would likely be able to switch to a different lender if the seller agrees.   However, please note - switching lenders and delaying closing, carries some risks - much depends on seller's attitude.   In the end it may be best just to get the deal closed.   Never hesitate to contact me if I can be of service.  

Aloha @Yair Zarmon, 

First, congrats on doing well with your investments and understand your desire to reduce your tax liability.  You're getting some good advice on this thread, and I recommend contemplating this input and doing what you determine is best for yourself.  It is not ideal rushing into an investment but it could turn out to be a great decision.  

Quite a a few of my clients acquire STR properties here on O'ahu and self manage (some from the mainland) for tax purpose. I've been really happy (and quite surprised) by how well they are all doing with it. If you want to talk to one of them about their experience, I'm sure one of them will be happy to share it with you. Just let me know. Wish you well

Aloha @Daniel Kam - most of Kakaako has a 180 day rental minimum, so if you haven't checked with your building association, I recommend you verify what the minimum rental period is for your building.

If you are allowed to rent for less than 180 days, you will then need to apply for a GET license, and well as TAT/OTAT and pay the appropriate taxes on a regular basis.  You will first need to apply for the GET license, and then you can apply for TAT/OTAT.  

To apply for GET, you will need to fill out Form BB-1.  You can easily find this online but I will message you directly with some additional info. 

And if you are need of MTR management services, my company, Island Stays Hawaii, provides premier STR and MTR management services.

If you have any other questions, contact me at any time. 

Aloha 

Aloha @Lei Wei and as always, big mahalo @Andrew Steffens for recommending me.  

Lei, I'd be happy to serve you any way I can.

For Ko'olina, I love the Beach Villas (as well as the entire Ko'olina area) and if you are primarily looking for a very quality property for you and your family to use, I'd recommend it.  However, if cash flow is important to you, there are other properties on O'ahu that would make for a better investment and that your family might also enjoy.  Examples are Ilikai or Waikiki Beach in Waikiki, or Kuilima Estates in Turtle Bay.

I'm happy to answer any questions you have, so please never hesitate to contact me.  I am here to serve you.  

Lastly, I do a weekly STR update you YouTube if you are interested where I talk about all new STR listings and sold listings. Newest episode will be out tomorrow.

Aloha @Makani Donaldson and mahalo @Andrew Steffens for the shout out. Makani, please see my answers to your questions below.  If you have any other questions, you are welcome to contact me any time. 

But to be clear, I am serve the O'ahu market but have had clients have me help them look for property on other islands. Also, please note, there are many nuances about the STR market on O'ahu so this is a brief overview. Oftentimes my initial consultation call with a potential client runs 1 hr and that still doesn't give me enough time to cover everything about the STR market on O'ahu.

1.  Yes, I have investors actively buying STRS on O'ahu at this time and they are planning to make money off of these investments.  

2. Unless a property has a non-conforming use permit (NUC), there are only 4 areas on O'ahu that you can legally do STRS. Waikiki area (however there are a couple STR buildings outside Waikiki), Turtle Bay (North Shore), Ko'olina (Westside) and Cottages at Mauna'olu Estates.

For the 30 day rental minimum. For non-STR properties, last year the Honolulu mayor and city council tried to change the 30 day minimum to 90 days. The regulation was ruled illegal and a permanent injunction was issued. However, the injunction only pertains to property owners who were doing 30 day rentals prior to the gov't trying to change the minimum to 90 days. This year, the State Legislature gave all counties the authority to change STR's laws however they see fit. Thus, there is now a possibility that Honolulu County will change the minimum rental period (for non STR properties) to 90 days. So at the moment, if you buy a property now and operate it as a 30 day rental, owners are not having any problems with the gov't. But if they gov't changes to a 90 day minimum, you would have to operate as a 90 day rental or longer.

And talking to local experts, if you want to own a STR on O'ahu, your safest bet is to buy a unit in a Condotel that is located in the "Resort" zone of Waikiki. These buildings are:

Bamboo

Ilikai 

Ka'lahi (Formerly Trump)

Pacific Monarch

Palms At Waikiki 

Regency At Beachwalk 

Ritz

Waikiki Grand

Please note, there are other condotels located outside the Waikiki Resort Area.  

3. I do not know of any of my STR clients who regret buying on O'ahu. They all seem very pleased and some have bought more units on O'ahu and I know others hope to buy more if the opportunity arises. However, I am seeing more interest in MTR's and have a colleague that does well buying condos and renting out to traveling medical workers and foreign exchange students. My company also offers premier vacation rental management services as we recently expanded our services to MTRs because of the apparent need for management services in the sector.

Happy New Year and if you need any assistance acquiring property on O'ahu, contact me at any time - I am here to serve you.