Buying Hawaii Real Estate

Buying Real Estate

Buying a property in Hawaii can be one of the most challenging transactions of your lifetime. Oahu is out of land for any new developments and prices are have been constantly on the rise. To avoid some common frustrations follow these guidelines

• Find a great agent
  Some real estate agents wont even do business with a client who is located on the mainland. Carefully investigate your agent before choosing one.
• Bank Accounts
  If you plan to get a mortgage open a local bank account and fund it reguraly. A large portion of Mainland lenders wont intially lend for Hawaiian property. You might have to go through local channels to secure any substantial loan.
• Know the difference between Fee Simple and Leasehold properties. Inquire with your agent which is the best selection for you.
• Never buy sight unseen
  There are a multitude of properties in Hawaii that have been around for a long time. The house may be minutes away from falling down while the property retains its value. Your not paying for the structure in Hawaii your paying for the land.
• Termites
  Mold, termites and roaches are rampant in tropical climates. Hawaii is no different, have a professional inspect for all these pests before commiting to a property.
• Condominiums
  Before purchasing a unit in a building scrutinize the condo by-laws, funding reserves, rules, and recent minutes of last meeting. Additionally you may also want to find out what the owner occupancy of a particular building is. Since so many units are rentals or part-time residents this factor may greatly influence your quality of life in a particular building.
• Property Search
  Start a your search at the Honolulu Board of Realtors website. This site lists all properties for sale in Hawaii and has completley unbiased search results for all islands and areas.

• Oahu
• Maui
• Kauai
• Big Island

Copyright ©2009 HawaiiTime.org • All Rights Reserved