All Forum Posts by: Patrick Aime

Thank you Greg!

I am in the process of buying a unit in Kihei..I will message you to pick your brain if thats ok. :)

That's what scares me!

Apparently in the contract they will stipulate what percentage the lease payment range will be.  I believe it cannot go over 10 % raise every 10 years?  I have so many questions too...

They sell this concept as the best way or cheapest to afford a property in Hawaii, as they have a shortage of properties which drives prices way high.... 

They are usually 50-100 year lease programs. This specific one has 31 years left before the lease ends..

Thank you Greg!

It is the complex in Piilani near Lahaina on Lower Honoapiilani Rd and the complex is west maui trade.

The current land lease payment is $247/month and will be re-negotiated on 9/30/2027 remaining. The leasehold contract expires 9/30/2050. The HOA is $350/month

There is a renter in there, and has been there for last 15 years and I would cash flow at least $800/month

I feel like there is a catch as it is selling for $140K

My wife and I are also thinking about moving there as we love Maui, and it could be a cheap way to live in Maui

We are also thinking about buying a regular simple fee property in Kihei that we would rent out as well...

This is of course the safest route, but we need to come with 2 1/2 times more money to buy a normal condo..

Hi guys,

I am new to this forum, and wanted to see if anyone ever bought a leasehold property in Hawaii?

Any success story?

What should i watch out for?

Thank you!

Patrick