All Forum Posts by: Sanjeev Gurung

Hi Nathaniel,

Great post. I was actually just reading the Oahu real estate report for January 2021 from the Honolulu Board of Realtors, and it says median DOM for SFHs as 9 days, and for condos as 18 days. I have attached a link here: https://issuu.com/advantagerea... 

I apologize if you were talking about something else. In that case, please feel free to ignore! :)

Thank you for the insight Nathan. I think I am doing exactly that, holding it hoping the market will take off. The market did take off, but unfortunately not on the condo.

 Aloha @Lake Lutes ! I have been tracking activities in Kukui Plaza too, and watching the list price is definitely disheartening. I appreciate your offer but I am in contact with the realtor who helped me buy this back in 2018, to see what we can do moving forward.

@Bruce Lynn I think I got carried away with the location. It was 10-15 minutes to Ala Moana and Waikiki, and 15 minutes to my work, with the highway to Kailua right across the street. In regards to not having a lanai, the window has a net screen that is detachable, and the condo being up on the 29th floor, it opens up to a great view of the mountains on the left and the downtown towers and ocean on the right.

Thank you for your insight Bruce. The more responses I get, it appears this not a sound investment right now.

@Bruce Lynn I think I got carried away with the location. It was 10-15 minutes to Ala Moana and Waikiki, and 15 minutes to my work, with the highway to Kailua right across the street. In regards to not having a lanai, the window has a net screen that is detachable, and the condo being up on the 29th floor, it opens up to a great view of the mountains on the left and the downtown towers and ocean on the right.

Thank you for your insight Bruce. The more responses I get, it appears this not a sound investment right now.

Thank you for the response Jim. That is my biggest dilemma - wait until the value reaches my target, or sell it and use that somewhere.

Unfortunately, due to new rules on STRs in Hawaii, only properties on resort or resort mixed areas are allowed to do STRs. My condo lies in a business mixed zone.

HI BP team! 

Newbie here, have been following BP on YouTube but finally decided to join the forum as well.

So here's my story. Bought a 1B/1br/1parking condo in downtown Honolulu, HI for around $357,000 with a VA loan in December 2018, so had no down payment. Repainted the place, changed kitchen countertops to quartz, reglazed the bathroom, and updated the electrics. Refinanced in 2019 with closing costs lumped in for around $368,000. I had to move to Texas due to military orders so decided to rent the place. My current payment including HOA fees and property management fees are $2350. Current rent is $1895, so I have a negative cashflow of around $460 every month.

Now here's the dilemma. Do I keep this negative cashflow condo or do I sell it? This is my mistake, but I am now realizing condo values do not appreciate as much as SFHs. Other units on my building have been selling around for $350-370,000 range. Even after the update and after talking to a couple of lenders, they don't see the value of my condo at $400,000. I have been following the market activity in my building, and I can definitely say my condo is at the top of the range (here's a link for the updated pictures https://www.zillow.com/homedet...

A part of me wants to keep the condo just for the tax benefits. But again, at what costs? Especially when I'm losing over $400 every month...

Any suggestions and info is greatly appreciated!