All Forum Posts by: Loren Clive

Lol. I've found that waiting to invest on Maui is not a good strategy as the prices continue climbing. I've been waiting to buy into Makena for years now.

I'd say the increase in pricing only reflects the continued high demand for condos in Maui, the #1 Island in the world, where there is little inventory.

Here's the latest stats from Hawaii Realtors. They have historical year-end stats for each island.

https://www.hawaiirealtors.com...

Note Maui is the only island where condo median prices are up 10% this year alone. I mention this because only condos are zoned for STR on Maui, so still strong appreciation even with interest rates.

If you do decide to buy on Maui, let's chat. I've lived here 18 years and own several rental properties on the island, and am also a real estate broker.

@Bonny Drago sure. Best to phone me as I'm not on BP all the time. 808-250-6891

I think it's terrible advice to wait to buy, especially if you're serious about buying on Maui. I see this all the time working with buyers. They can't afford what they want, so they never buy when they could have at least purchased a modest investment property as a stepping stone to their dream house. In the meantime, properties appreciate and they still can't buy. As the old saying goes, the best time to buy real estate was yesterday.

Whether or not you decide to house hack, it is important to get into a property and let it start appreciating. Then you can sell it in a couple years, or keep it as a rental which will supplement your income on the loan qualificiation, and buy what you really want. 

Price point. LOL. I also like buying them in locations with very few vacation rentals, like Hana or the N shore, to ensure high occupancy.

Managing them myself allows me to keep 25% more income. But of course this would be more difficult if I didn't live on Maui. 

In general, studios and 1brs do better than 2brs due to higher occupancy and lower carrying costs (AOAO fees and purchase price).

On Oahu I hear you can do well with studios/1brs in Waikiki. I have an agent buddy there who can point you in the right direction.

Everything is great, raised rents 10% since COVID, going strong on Maui. But it's paradise

Easy: A. 

Rehabbing is a huge learning curve and there are so many variables. Plus studies have shown you don't make as much money as projected because costs and rehab time often exceed estimates. You're busy enough as a CPA.

In many markets you can do absolutely nothing rehab wise and sell at a profit in 5 years.  

Sellers and/or agents can require that a buyer is prequalified before showing a home. 
And you should be doing this anyway, especially in this market where financing has changed a LOT!!

These are not lowball offers! Anything within 10% of list is reasonable, especially in this market.

Dump your agent. He is not working in your best interest. 

As an investor/broker, it really doesn't matter if your agent is an "investor agent." That's more branding than substance, unless your agent is bringing you off-market deals.

That seems like a great price! I know a local PM company here charges $7 per property per day=$210/mo for basically the same service. Please keep me updated on how it works, Matt. I've been looking into this same service.