Out of state investing in hawaii

[Byoung Bae]

My wife and I live in California and visit Hawaii fairly frequently (all islands). We are considering buying an investment property in Hawaii. What are people's thoughts on buying investment property in Hawaii?

We are open to all investment type (long-term, short-term, mid-term rentals). We were primarily looking at Turtle Bay area for short-term rentals.

Is it possible to break even with ~20% for long-term rentals?

if we go with short/midterm, is it possible to manage it ourselves remotely? My wife has more flexible schedule and availability to manage remotely, and we are interested in managing property but this is our first investment property.

[Michael Borger]

I'm fairly certain the law requires you to have an on-island representative, even if you'll be doing the majority of the management from CA.