I just finished the BP book by Avery Carl and am hoping to borrow from ourselves to fund our first vacation rental. 

Like @Collin Hays said, it is being driven more by neighbors tired of poor STR owners not keeping things sorted.We only look for places in vacation areas with a long history of owner driven STRs vs big cities and the like.

Ko Olina is a beautiful spot - and having a vacation home there for your family while focusing on capital appreciation is a smart move. 

I use Beyond pricing in my vacation rental markets and Pricelabs in my city/mid-term rental markets.

Maybe they are vacationing or buying a new car.

It would cost less, initially, if a person kept it as four units and either rented the property out less of the time or not at all and kept it strictly as a vacation property.Any thoughts are appreciated

Does anyone have experience investing in international vacation rentals?

No doubt; both of my neighbors at my vacation house got "free" roofs from guys who roam around after any storm and document that whatever storm damaged their roof - despite the fact they both had 15+ year old 3 tab asphalt shingles in the central Florida sun. 

Finally I came to my senses and served them a 'Notice to pay rent or vacate by the 10th of January' after which I plan to file an eviction.

Hi folks,My wife and I are looking to purchase a vacation cabin in Packwood not for use as an Airbnb.