Is this property worth it?

[Cody Gapol]

Hello BP Ohana,

I'll be facing an issue here in the very near future and I really need some expert insight and advice on my best approach to the situation. I currently own a SFH (primary residence) with my soon to be Ex-wife in Hawaii, as we proceed with the divorce process I'll soon face the decision on either selling the home or attempt to buy her half out. Initially I 100% wanted to keep the home, although, after learning a bunch of methods and simple formulas to determine if its even worth keeping, my confidence substantially dropped. If anyone can assist I can provide additional information to aid in coming to a conclusion.

Primary Residence: Waianae, HI - 3 Bedroom, 2 Bathroom. 1,196 sq. ft. on a 4,210 sq. ft. lot (Recently Built in 2019)

(Purchased in July of 2020)

Remaining Mortgage: $468,546.00/$2,177.17mo (2.75%)

Est. Value: $620,000     Est. Rent: $2400.00

Property Tax: $1,972.00 (2021)

T.I.A.

[Nathan Gesner]

It doesn't make sense as a rental. Your mortgage and taxes come to $2,341. I assume your insurance adds another $100 a month. Maintenance is probably low and capex savings could be put aside for a few years without much risk, but you have no money to set aside for vacancy. What if the market tanks and you suddenly can't sell? I know you think it won't happen, but there were tens of millions of people caught by surprise in 2008.

You have no wiggle room. I would sell the property, split the cash, and look for an investment that makes sense.