I would have about $30k - $40k for a down payment, closing costs, and a few months of reserves. 

I am looking for a builder to partner with who will finance building costs (and get reasonable GC fees above cost for their efforts as well).

This seems unfeasible for rental investments due to the high cost of capital.

The cost of entry is low, and cash flow is high.Happy to connect to share more! 

Yes, it costs a little more... adjust your offers accordingly.The law is a mirage.

This is just one of the many ideas I'd love to implement in this new build.I've talked to a fantastic builder in the area and the build from start to finish with the lot should cost about $450-500k.

He very nearly had a stroke in October: link to his IG postHe seems to be doing well now. 

All of that is independent of one-off maintenance costs - for example, trimming my palms costs $100 a couple of times per year.

Costs to do anything are high in Hawaii so I know what you see here is not normal everywhere. 

I'm talking houses that cost less than $50K.