All Forum Posts by: Patrick Franta

Aloha Chuck!  I would love to help you out any way I can here on Maui. I work with many investors and am an investor myself. I am more than happy to go over the ins and out of managing VR’s and rehabbing them.

Feel free to reach out with any questions. Mahalo. 

sounds good. Be there in 10

Where did we finalize the meetup location?  And what time will everyone be there?  

Sounds like a great time!  See ya there.   

@Brandon Turner Welcome to paradise!  We will have to get together for a pau hana once you are out here :)

As for the Piano I would recommend seeing what Matson will do.  For an extra fee they will pack items that are shipped to one of their yards on the west coast.  A lot of people shipping items to Maui use DHX also, dependable Hawaiian Express.  They are a freight forwarder that charges by the cubic foot.

Be aware, shipping large heavy items to Hawaii is crazy expensive!  

Aloha @Greg Gaudet!  I may be interested.   I would like some additional information if you want to dm me.  Talk to you soon. 

Sorry I just saw your most recent post after I already responded.  Yes we use title companies here for escrow.  There are plenty of options here for cleaning and handyman services,  you would just need a few good references.  

I know the 3 bed your are referring to and yes they were much cheaper 6 years ago but so was everything else.  If you bought in 2011-2012 pretty much anywhere you are sitting pretty right now.  I would recommend focusing on your return and see if that makes sense.  That $950 unit should generate at least about $90,000 in gross rental income for it to be a good buy.  Hope this helps.  

Aloha @Blake Capson.  I think I can provide some insight for you.  Your assessment of the market is pretty accurate.  Yes, things are somewhat hot here and values are up are fair amount year/year (7.3% for Maui Condos).  With that being said occupancy & nightly rental rates are also up so the higher values don't dramatically effect your cash-on-cash return.  There are still good buys in the market, they are just harder to find.

I have several clients that do manage their properties from the mainland and do very well.  The key is to have a good team here on the ground handling things for you when they come up.  This would be your cleaning company, maintenance company and your on-island contact (required by state law).  If you thoroughly vet these key people they can save you from a lot of headaches.  Then you are able to just handle the bookings  from afar and save 25-50% of your gross rental income.  If you have any questions feel free to reach out anytime.  

@Kayla Elliott Also, something to look out for is if there are multiple units on one cesspool.  If you are obtaining financing the bank will not lend in this scenario.  One of the units will have to be converted to septic.  Just a heads up.   

Aloha Simone!  What side of the island is your property on?  CB Island Vacations offers a la carte services and I would recommend them wholeheartedly.  Also a couple tips if you decide to self manage:

1) THOROUGHLY vet your cleaner.  Having a good cleaner or cleaning company could be the single most important part of the equation.

2)  Your On-Island Contact can be any person living on the same island as the rental.  They DO NOT need to be licensed if they are a contact for only your condo.

3) Establishing a good relationship with a local maintenance person or company is necessary.  Also have a couple back up options if your main servicer falls through.

Hope this helps!