If so, I realize my post is late to the game and wish you the best, but wanted to share a few things and maybe reassure you or give you more clarity of situation in Hawaii and submitting an offer in this market.  

I figure the stepping stone approach may be best suited for my game plan.

I have never played the "guess what this is" game with tenants.

If you cash out refi and use it for a down payment, the game is over after 2 deals until you build up enough equity to jump back in.

Really stand out and change the local Airbnb game.

You got in the game earlier, but had some scaling restraints.

It’s a patience game with this property but I’m pumped!

Go to REI meetings and see if any investors want to get out of the game and want to sell their properties. 

You can look into self-directed IRA loans and that might suit your needs.But to many people's surprise, you don't always need the huge downpayment to get in the game.

So you bought a video game token for $50?