Multiple Hawaii Island investing

Multiple Hawaii Island investing

Member since 2019 · 7k+ posts · 4k+ votes

Hi folks, this question is specific to Hawaii realtors. Please do note I have STR operating in Kailua, so my dream is to invest in multiple island for small condo/STRable property VS I continue expanding in Big Island only. I am also aware about the regulation. The purpose of the STR is for me to able to stay in different island every 2 3 months or so and while I'm there, if I'm not there I would Airbnb, so I generate these pro-and-con. Long term Plan is to retire either in Hilo or Maui ; Hence some questions :

1. Is investing in multiple island common ? lets say I have on STR in Big Island, one in Oahu and one in Kihei /and/or Kauai ?
2. Or is it better to just expanding in one island ? I can drive in island now without maps 
3. I need to park one car in each island, Waikiki has cons that it's almost impossible to park for car and condo unit that has parking space is not always available. The pro is that entry price is much cheaper but less appreciation.
4. Maui is the best island in term of white sand beach but condo entry price is double than BI (800k vs 400k) and area is too commercialized/more expensive than BI. The Pro is appreciation is super good. I kind like thinking Kona / Waikoloa is the net Maui in developing.
5. Kona/Hilo is sort of market where it's still an island, but basic infrastructure is still available. This island has everything while still functioning like an island.

[ personally to retire I prefer to stay in Hilo or up to Hawi / Waipio ]

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Residential Real Estate Broker · Paia, HI · Member since 2016 · 479 posts · 311 votes
2y

Sure, you can invest on multiple islands. I have clients that do this.

From a management perspective, it would be easier to keep it on the same island for the reasons you mention. 

Personally although I've looked at the Big Island, I find that the rental income is way better on Maui, and easier for me to manage since I live here, so I've never actually pulled the trigger for BI. 

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  • Residential Real Estate Broker · Paia, HI · Member since 2016 · 479 posts · 311 votes
    2y

    Sure, you can invest on multiple islands. I have clients that do this.

    From a management perspective, it would be easier to keep it on the same island for the reasons you mention. 

    Personally although I've looked at the Big Island, I find that the rental income is way better on Maui, and easier for me to manage since I live here, so I've never actually pulled the trigger for BI. 

  • Property Manager · Kailua-Kona, HI · Member since 2017 · 20 posts · 9 votes
    2y

    Aloha @Carlos Ptriawan,

    I am a property manager here on the Kona side of the Big Island. We manage a hybrid portfolio of long term rentals and STVR's. We do have some owners that have homes on several islands, the main warning that I would give, is that each island is different. Rules and regulations differ from island to island so if you are to invest on any of them, please make sure you have a team or contact that knows the ins and outs of the local regulations. It is very hard to cash flow in general in Hawaii if you are a new buyer, but as you mentioned, long term appreciation can be substantial. 

    Let me know if you have any questions and I hopefully I can help you out, even if it is just advice.

  • Member since 2019 · 7k+ posts · 4k+ votes
    2y
    Quote from @Clark Kahawaii:

    Aloha @Carlos Ptriawan,

    I am a property manager here on the Kona side of the Big Island. We manage a hybrid portfolio of long term rentals and STVR's. We do have some owners that have homes on several islands, the main warning that I would give, is that each island is different. Rules and regulations differ from island to island so if you are to invest on any of them, please make sure you have a team or contact that knows the ins and outs of the local regulations. It is very hard to cash flow in general in Hawaii if you are a new buyer, but as you mentioned, long term appreciation can be substantial. 

    Let me know if you have any questions and I hopefully I can help you out, even if it is just advice.


     these are not new for me, my main concern is pretty much on logistic side (car,etc)....sometimes it's just hard if I have to drive from waikoloa to kona everytime to pickup car. I am not looking for cash-flow.

  • Property Manager · Kailua-Kona, HI · Member since 2017 · 20 posts · 9 votes
    2y
    Quote from @Carlos Ptriawan:
    Quote from @Clark Kahawaii:

    Aloha @Carlos Ptriawan,

    I am a property manager here on the Kona side of the Big Island. We manage a hybrid portfolio of long term rentals and STVR's. We do have some owners that have homes on several islands, the main warning that I would give, is that each island is different. Rules and regulations differ from island to island so if you are to invest on any of them, please make sure you have a team or contact that knows the ins and outs of the local regulations. It is very hard to cash flow in general in Hawaii if you are a new buyer, but as you mentioned, long term appreciation can be substantial. 

    Let me know if you have any questions and I hopefully I can help you out, even if it is just advice.


     these are not new for me, my main concern is pretty much on logistic side (car,etc)....sometimes it's just hard if I have to drive from waikoloa to kona everytime to pickup car. I am not looking for cash-flow.


     Got it.. I have some owners that store there car in a storage unit by the airport. I don't know if that is a viable option for you, but may be worth looking into?

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