All Forum Posts by: Loren Clive

look on craigslist and Zillow and get your own comps

I'm on Maui, and 1brs here easily go for $2000, more if furnished, should be more on Oahu

the manager is going to quote you low cause it's easier to rent

Yes, there are great opportunities for investment property here in hawaii,  particularly due to historical appreciation. Then you can write off all your vacations! You can manage remotely but you do have to have an on island representative which could be your housekeeper or realtor. 

I have done this. Even when I have the cash, sometimes for fund sourcing it's easier to tap the HELOC then pay it off afterwards because the funds are spread over separate accounts.

I have also used HELOC to purchase cars due to lower interest rate at the time. May not be true these days!

I have my HELOC through Bank of Hawaii. There are some credit unions offering amazing rates right now too.

Aloha, Dana! I live here on Maui and would welcome partnering with you. DM me

20 year resident, I've flipped several homes here on Maui. Got a great agent on Oahu. One of my agents here on Maui has used VA to build his portfolio. Lots of connections. Dm me

@Chris Seveney I meant local mortgage brokers often have hard money lender contacts and facilitate these types of transactions. I lend hard money, and that's where I get most of my deals from.

OP, how are you going to record a mortgage against the property if there's no TMK? I'm assuming at this price you are buying one of the 2-acre parcels where the subdivision is not yet complete. Not sure if this is legally feasible

Can you record a mortgage against the entire parcel??

I have a couple contacts. DM me

You should ask a local mortgage broker also

I own five properties in Hawaii. There's no way to make it cash flow sounds like. 

If you're not willing to raise the rent on your tenants, I would sell it.

it all depends on the math.

I have an excellent Oahu investor realtor referral if you need help sorting it out. DM me

This is a very rough comparison, for Maui island only, but in 2012 median condo price was $356,158. Now it's $795,000 per the January 2024 report. 

Stats can be found

https://www.ramaui.com/housing-statistics

Or for all islands here

https://www.hawaiirealtors.com/resources/housing-trends-2/

Your realtor can produce more specific stats on your area of interest.