All Forum Posts by: Patrick Franta

Aloha @Mike R.

I would be happy to discuss the intricacies of our market and show you a few condos while you are here.  Please feel free to reach out and we can set something up.

Aloha Teresa,

Congrats on your deal!  Was it a leasehold condo?

Well I guess my previous reply was taken down because I offered to discuss this with you further if you'd like.  Here is the info from my previous reply:

Aloha Brandon,

Honestly in our current market it is tough to find a good cash flowing short term rental if you plan on using a full service manager. There are deals out there but many of them are sold off market or you have to be very quick on the draw when one does pop up on the MLS. In our market you have MANY different management options and don't have to rely on the complex "in-house" managers, and I actually recommend against it. Their fees are higher and they often don't achieve higher revenues than the independent managers.

I'm not sure I understand your question: What’s the typical premium paid for a short term rental? Is the view worth the 100-200k?

Are we asking about the short term premium or the view? To give you an idea the entry level 2 bedroom Res condo's are trading around 350 currently. The 2 bedroom short term rentals are staring at 650. The additional cost for view is usually worth it as the guests primary criteria for booking is view and upgraded finishes.

For short term rental financing you almost have to work through a local bank. Many mainland banks will tell you they can finance them but when you get into the deal and they review the RR105C (condo data form) they end up falling apart.

There are some buying opportunities in the multi-unit long term rental market. Maui County recently passed a bill that increased the size and number of allowed accessory dwellings in several zoning districts.

Please let me know if you have any further questions.  Mahalo. 

Harold Breman is great. He’s not cheap but is a very talented CPA. 

Aloha Hythem!

I would be happy to connect with you to answer any questions you have about investing in our market.  I work with many investors in Maui and own investment properties myself.  Feel free to reach out anytime.  Mahalo.  

Aloha @Marcello Di Gerlando

As others have mentioned a budget range would be helpful. On Maui CAP rates are being compressed like most other markets. You can still find solid Cash on cash returns if you shop hard to find the better deals. Currently the inventory under 500K is quite limited. If you are open to going up to 7-800 then there are some opportunities. Let me know if I can help further. Mahalo.

Great job & Congrats!!

If the management company is aware that you found their listing on VRBO they are required to charge you the VRBO fee. But if you found the property on the management company’s website no fee is required 😉

@Jay Hinrichs My wife runs a PM company in Maui, CB Island Vacations.  No matter where you decide to stay you can save the VRBO booking fee by find the property on VRBO and then contacting the management company directly to book the unit.  This will save you quite a bit of money.  

Aloha Ethan.  I can refer several PM solutions for both long and short term.  I can also guide you in the right direction to find some of the better deals currently in our market.  Feel free to private message me or give me a call anytime to discuss.