Hawaii Living
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Hawaii Living blog covers articles about Oahu real estate, including short-term rental rules, neighborhood overview, property taxes, buying strategies, insurances & much more.
Hawaii Living was created to offer a superior online user experience. They provide personalized buyer and seller services.
Hawaii Living
6M ago
The seller’s conveyance tax depends on the buyer’s intent to buy the property as their principal residence.
Sellers save money on the conveyance tax by adjusting their sales price below certain threshold levels.
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Check out our other real estate tax articles, including our Guide to Honolulu property taxes, taxes on rental income, how to defer capital gains taxes with 1031 exchanges, HARPTA/FIRPTA withholdings, real estate tax benefits, filing for a home exemption, and other ways to save on your property taxes.
In today’s post, we discuss the Hawaii conveyance t ..read more
Hawaii Living
7M ago
Higher mortgage rates make for a slower market with slower demand and limited supply.
Despite doomsday predictions, real estate prices remain robust due to continuing supply shortages.
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Fed Policy – Inflation Update
In September 2023, the Fed held off on rate hikes but suggested the possibility of one final rate hike before the end of 2023. The Fed also signaled the possibility of only two rate reductions next year.
In short, rates are at their peak or close to it but might stay up high for longer in 2024.
Fed Chair Jerome Powell said, “We are committed ..read more
Hawaii Living
1y ago
The higher mortgage interest rate ‘shock’ has slowed real estate demand. Prices softened since the peak in June 2022.
Some condotels are bucking the trend and are selling at top valuations, reflecting their cash-flow potential.
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In June 2022, we discussed the Real Estate Market’s Inflection Point. That was the same month when real estate prices rolled over. That inflection point was triggered by the following:
The Fed’s commitment to reign in elevated inflation by raising short-term interest rates, and
The potential risk of a looming recession as a result.
S ..read more
Hawaii Living
1y ago
We took a ‘tired’one bedroom, ground floor condo, in Hawaii, and did a total remodel. The aim was to create a sense of more space, with a luxury feel to it. Most furnishings (in the ‘After’ photos) are from Italy and were purchased at INspiration Interiors in Honolulu.
Without further comments, enjoy the photos.
Dining & Kitchen Before RemodelDining & Kitchen After RemodelLiving Room Before RemodelLiving Room After RemodelPatio Before RemodelPatio After RemodelLiving Room with Patio in Background Before RemodelLiving Room with Patio in Background After RemodelLiving Room with Dining i ..read more
Hawaii Living
1y ago
Beinhocker and Friedman’s view on economic success and the role of government.
Legislative updates currently cooking.
New Hawaii Property Tax Rates 2022/2023.
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In his book ‘The Origin of Wealth,’ the author Eric Beinhocker explains that existing property rights, the rule of law, economic transparency, a lack of corruption, and other social and institutional factors play a dominant role in determining national or regional economic success.
An entrepreneur that can count on these things is much more likely to start a business. A foreign corporation is much more ..read more
Hawaii Living
1y ago
Leasehold property values gravitate towards $zero.
The investment aspect is flawed and speculative at best with many unpredictable variables.
Leasehold ownership is more of a lifestyle choice.
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We recently received this inquiry: “I have heard that Makaha is exempt from Bill 41 (and allows short-term renting). We are looking to purchase a unit at the Hawaiian Princess. Have you heard anything about Makaha?”
Here is the skinny: Makaha is not exempt. But eighteen units at the Hawaiian Princess have NUCs (check page 15 of the report) and are allowed to do short-te ..read more
Hawaii Living
2y ago
Markets are normalizing (regression to the mean) after two years of fiscal and monetary policy distorting the supply and demand ratio.
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In early 2022, we saw a culmination of FOMO (Fear of Missing Out) among eager home buyers chasing dwindling record low supply while trying to lock in some of the lowest mortgage interest rates before they were expected to move up.
This buying frenzy peaked when properties recently received as many as 38 offers and sold at up to 30% above their list price. But mortgage interest rates shot up to 5.78% (6.16.2022), the highest si ..read more
Hawaii Living
2y ago
— We saw it coming, on April 26, 2022, Mayor Blangiardi signed into law the final version of the controversial Bill 41 (CO 22-7). We documented the audacity of earlier versions of the bill here.
In short, the two most significant changes are:
1) Rental terms of less than 90 days (formerly 30 days) in residential neighborhoods are illegal. Enforcement with hefty fines starts on 10.23.2022.
2) Short-term rental properties (with rental terms of less than 90 days) must be registered and are subject to additional restrictions and requirements, including a $1K initial ..read more
Hawaii Living
2y ago
— We sell real estate and stay away from politics. Life is too short for soap operas and counter-productive marry-go-rounds. However, recent disturbing trends require some reflection and intervention.
Honolulu’s DPP, city council, and the mayor are pushing forward with a devious sleight of hand to monopolize condotel property management. – Nepotism in disguise?
Nepotism is the act of abusing one’s power to favor a family member, entity, or company while disregarding their qualifications. Nepotism can negatively impact the health and success of free-market economies and the type of society ..read more
Hawaii Living
2y ago
Zillow abandoned their iBuying house-flipping program
Top Expert Predictions For 2022
Real Changes For 2022
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Kidding aside. We don’t have a crystal ball. – However, that does not stop professional pundits from confidently claiming to be experts in predicting the future.
Before we get to their predictions, let’s recap what Zillow has been up to lately…
Zillow Abandoned Their iBuying House Flipping Program
For years, Zillow has been fooling the public by pretending that they are the experts in zestimating property values. Hypnotized homeowners have been falling ..read more