where would you buy a vacation/rental investment if you coul

hi there,

researching areas in Hawaii that would be a good place to buy a house/condo for vacation use every year and of course to rent out when not there...

North Shore, Kailua? or another isaldn all together? im at the beginning stages of research and would appreciate all of your advice/ideas....

thanks looking forward to all your replies, but please no haters...cheers

where would you buy a vacation/rental investment if you coul

Waikiki.

where would you buy a vacation/rental investment if you coul

Kailua?

They haven%26#39;t issued any permits to rent your place out since like 1989.

maui has the most rental condos

There are very specific county laws regarding transient or vacation rentals for each island in Hawaii. If you plan on renting a property on Oahu for less than 30 days to visitors (99% of the vacationers stay less then 30 days), then your property must either be located in a resort zone district or have a “Non-conforming Use” certificate if it’s located in a residential zone neighborhood.

Areas on Oahu zone for resort use are specific areas of Waikiki, Ko Olina and Turtle Bay. There are approximately 1000 “Non-conforming Use” certificates for vacation rental or B%26amp;B use issued to properties on Oahu. Only approximate 230 properties out-side of Waikiki have “Non-conforming Use” certificates. Operating a vacation rental outside a resort area or without a “Non-conforming Use” certificates could result in $1000 per day fines and the scorn of your neighbors. Currently, the City Officials, Neighborhood Boards and neighbors are vigorously enforcing the law and shutting down illegal operations. I would highly recommend you contact an Oahu real estate lawyer and have all zoning laws reviewed prior to making any offers.

before we bought our home here on moloka%26#39;i i owned a unit in moloka%26#39;i shores where i stayed 6 months during the winter when i lived the summer months on the mainland. i had the option of placing the condo in the ';rental pool'; which was managed by marc hotels. we recently stayed in the maui vista in kihei in a privately owned condo which was managed by marc hotels as well. maui is another island which wants to make short term rentals illegal unless you jump through all kinds of hoops. good for the hotels! bad for the little owners. that%26#39;s life!

We%26#39;d probably go for something in West Maui or Waikoloa on the Big Island.

Thanks for the constructive replies...i thought it was a difficult thing to do, thats why i asked for advice...im a us citizen but live/work in Australia. ..i just have to say there are SOOO MANY villages/towns around the world that due to its beauty ahve attracted tons of holiday makers and vacation investors....just think Hawaii isnt unique with thier argument, and the diaply of ugliness actually gives thier precious home land a bad name. I guess you cant change a person but it would be wise to offer helpful insight and and advice, nasty comments just makes you appear silly.

Thanks again to everyone on this site as a whole who offers good advice, im 6 months away from buying anything...will also look at other areas too.

Ben

-just be happy

Benmitchell68

I am a little bit confused by your comments; “the diaply of ugliness actually gives thier precious home land a bad name. I guess you cant change a person but it would be wise to offer helpful insight and and advice, nasty comments just makes you appear silly”.

Who made nasty comments?

As far helpful insight and advice, I think the bottom-line message is there are laws in most of the Hawaii counties that limit where visitor lodging businesses can be located. Your selection on Oahu is constricted to resort zone districts and a few residential neighborhood properties that have grand-fathered permits.

You should wait a year or so.....

The recent up-cycle for the resort/residential sector has long-since peaked, and demand is off 30 percent from 2005.

It is only just becoming a ';buyers market';, a status which will increase with each coming day, and prices, terms and supply will all soften over the next one to two years.

If you can find a solid, postive cash flow unit anywhere in the State, whether vacation or long-term rental, snag it up regardless of the cycle....they are exceptionally rare.

thanks again for info...sorry if my previous note didnt make much sense, i type quickly and forget to check for errors! i was researching the TA site and came accross many nasty rude comments about the vacation/rental topic. My comment that these comments gave the place a bad name, i guess i was trying to say, if you have a pssionate point to make about your homeland, by all means enlighten me, but do it in a constructive way. Its hard to take one seriously when they are rude and hateful...but i dont want to start a debate!!

My father recently passed way and i thought a good way to use my inheritance was to buy a house/condo in Hawaii, live in it for part of the year and rent it out for the rest. My father always use to take our family to Hawaii for vactaions and they are the fondest memories i have, he loved Hawaii and i thought it would be a good way to honour him.

thanks again for all your input

Ben