All Forum Posts by: Bryan Vukelich

 Big Mahalo Andrew for the support.  Hope life and business is going well for you.  

Hi Tiffany, I have clients who own at Marine Surf and are happy with their unit and the building. A couple great things are that almost all units have full kitchens so you can get the best financing terms, and that the units come with parking. Plus, with a great central location, it is one of the more popular STR buildings in Waikiki. Please note, units have to be registered (then renewal annually) with the Department of Planning and Permitting in order to be operated as legal vacation rentals.

If you have any other questions, please don't hesitate to contact me - I'm here to serve.  

Also, we just launched a new vacation rental management division with the goal of offering owners and guests, consistently superlative service.  If you decide to acquire a property on O'ahu and need management, I'm happy to chat.  

Quote from @Jason Eisert:

I am the owner of a 10,000 sqft luxury mansion in Hawaii that I have spent the past two years renovating and managing. We've found that the property is perfect for large families, yoga retreats, and corporate groups. Despite offering almost every amenity for an ideal vacation, my efforts to increase bookings through more than ten non-exclusive agreements with local property managers and continuous outreach to travel agents have not been fruitful. You can view the listing here: https://www.airbnb.com/rooms/739311990337556133.

I am seeking advice on more effective marketing strategies to enhance visibility and drive bookings for this unique place... It's got a large cost per night and our target demographic isn't "cookie cutter" like most listings. If anyone has insights, experiences, or can recommend specific platforms or techniques beneficial for marketing unique luxury vacation rentals, your guidance would be highly appreciated.

Thank you for sharing your expertise!

 Hi Jason, Congrats on owning such a beautiful property on the Big Island.   I completely agree with @Lauren Kormylo about cover pic.  And for a property of that caliber, I highly recommend you spend the money on a professional photographer for high quality and artistic photos.  You have some great pics already but a bunch of the photos would "pop" much more if they were properly lite as well as proper vertical lines.  And perhaps also do a video tour like this?  I've have had property managers tell me the video tours are of value to them. 

I also agree with others on creating own marketing/booking site for the property and to do target marketing.  Also, I used to work with Hawaii Life - they are very successful with the higher end market in Hawaii both with sales and property management.  Maybe you can find a way to partner with them to market your property?

Perhaps also reach out to production companies who might want to use the home for music videos, commercials, television shows or movies.  

Hi Christopher, yes, Kailua is beautiful and you are right about gov't attempt to limit STRs outside the resort zoned areas.  At this time, 30 day rentals are legally allowed for any property in Kailua (unless the association has stricter rules), and I know some people who do quite well renting their SF homes on a 30 day basis.  However, the state legislature is currently reviewing a bill to eliminate 30 day rentals.  We should have clarity on the situation within a few weeks.

Are you familiar with Turtle Bay?  There are 2 nice townhome communities there where it is legal to do nightly rentals, and it is possible to find something around the $1M range.  It has a much different vibe than Kailua, but it often appeals to people who also like Kailua.  There is a 5 Star Resort there, golf course, beach, and some tasty restaurants.

Wow - that's a deal.  Thanks again for the heads up.   

My pleasure @Christopher Jordan - and since it is a dream second home, I definitely recommend you acquire a property in the area that appeals to you most. I don't track the STR market closely on Big Island, but I have had clients look on that island and think you should find something there that cash flows pretty well.

If you think I can ever be of value to you, you're welcome to contact me any time.  Wish you well 

Thanks for sharing that @Andrew Steffens - I'm interested.  Do they offer any discount on shipping costs? 

Aloha @Christopher Jordan  - congrats on selling your business.  And just an fyi -  you are not required to have on-island management.  If you own investment real estate in Hawaii but do not live here and want to self manage, you are "supposed" to have a "point of contact."   I have quite a few clients who self manage their vacation rentals from the mainland.

Here is info directly off state of Hawaii website pertaining to vacation rentals (bold in mine):  

If you’re off-island, you’ll need to designate a local contact who resides on the same island as the transient accommodation. The local contact may be an individual or an entity with a principal place of business on the same island as the property. Because they are on the same island as the transient accommodation, the local contact may be able to assist with issues which may arise relevant to the transient accommodation. The on-island local contact doesn’t have to be a licensed real estate professional, unless he/she is also involved in real estate activities, like renting or offering to rent the property.

And I've had at least one client do cost seg - if you'd like a couple referrals, you're welcome to contact me directly. 

Lastly, have you considered O'ahu for a vacation rental?  I have a couple clients that own 2 BR units at Waikiki Sunset - one of them recently told me he is grossing close to $15k next month.  The other client has told me he consistently does $10-$14k/mo.  Units have recently been selling in $900-$950k range. 

Haha @Carlos Ptriawan - true dat

Hi,

I have a client under contract to buy a 1 BR unit in one of the most popular vacation rental buildings in Waikiki.  However, his near term real estate goals have changed and he is looking to assign the contract.   Here is brief overview.  Contact me for more details if you are interested.

Purchase price (including assignment fee):  $280,000

Lease expires in Nov 29th 2035 - fee not being offer at this time.

Unit grossed about $80k in 2023 

Aloha,

Bryan 808 354-5772