Being on a tropical island is very low maintenance! With grass huts, people tanning in the nude, and endless abundance of fruity flavored cocktails, there seems to be no stress? Well, put that fantasy book away.
Maui is an incredible place! It has the lifestyle that everyone wishes to seek. With local healthy foods, yearly comfortable sub tropic weather, and United States health care, the standard environment is more than satisfying. So, how do you get to live here?
Working as a full time Realtor in paradise, I get daily questions about purchasing in Hawaii. Do to being in a resort location in west Maui, the inquiries range from income producing properties to breaking even on an investment. Let me tell you, obtaining property thousands of miles from home comes down to Opportunity Costs. Questions to ask yourself!
Will my family share yearly memories here?
Is it safe?
Am I comfortable parking my money in real estate?
Will I procure a Net Cap Rate on my investment?
Yes, is the answer to all these questions.
Year after year, the visits here will be consumed with laughter, recollections in the warm sunshine, and endless sand in your condo or home.
Your family is extremely safe in Hawaii. Compared to foreign countries and non English speaking areas, it is comforting knowing that American Laws apply here. Not just that, if an injury should occur, your insurance will be executed.
No, you are not putting your money in a Coca Cola stock. Real estate is an investment where you don’t need your money anytime soon. Maybe you have a 1031 deferred exchang and need to acquire an alike property? You are resting your dollar knowing you are not rushed to capture it.
The Net Cap Rate coincides with the question above. In the current market, I have witnessed a return on all cash deals. The best figures occur in condominium resorts where there is an onsite management company, full resorts amenities, allows short term rentals, and is on the ocean.
Well, you might not be swimming under waterfalls daily or barefoot patching together your clay home, but you will be loving life in Hawaii. Now its time to figure out just what opportunity costs means to you!
Please call for your real estate needs!