High interest rates for STR in Maui

[Samer S.]

We were thinking of putting an offer for a short term vacation condo in Maui Hawaii (~400k) but decided to not go forward with it because of high 3.75% interest rate for 30 yr Fixed, 20% down. We knew that STR's fall under non-warrantable loans but didn't expect the rate to be that high.

i have excellent credit score and can easily afford the unit. Does anyone have any suggestions? Are the non-warrantable rates this high only in Hawaii?

At these interest rate, STR's seem to be bad investment :(

[Janice V.]

@Samer S.

You may want to shop around for a better rate..

STR lender here on Maui are pretty tight right now but I am closing a STR with a client at 3%, 20% down.