Where to live between U. of Hawaii and Schofield Barracks? (Pearl City: rentals, condo)

[Lia18]

Hello,

My fiance will be attending graduate school at U. of Hawaii. I am currently considering a job at Schofield Barracks. My main concern is the commute time if we live close to U. of Hawaii. Neither of us wants to commute a great distance. He will be in school for 1.5 years and hopefully getting a job in Oahu afterwards, but that is obviously up in the air at this time. We aren't sure if it's better to rent or buy. We don't want to spend more than $3300 a month if we rent, but if we buy, we can probably afford a larger mortgage. We need at least 2 bedrooms, but 3 would be even better. Does anyone have any suggestions about neighborhoods/town which would be the least hassle in terms of commuting?

Thanks!

[kani-lehua]

well, UH is in manoa and Schofield Barracks is in wahiawa. two different parts of the island. what do you consider to be a "great distance"? if you are going to work at schofield, at least you won't have a traffic nightmare. however, going to UH (or towards town), you will have traffic.

imo, if i were able to afford $3300 in rent, i'd just assume purchasing a property. fixed interest rates are still under 6% according to sunday's honolulu advertiser. our 1 bedroom (app. 600sqft) cottage in kailua rents for $1100/mth all utilities included. 2 parking spaces and a side yard. haven't raised our tenant's rent in 3 years even with increases in electric and water. our other house in kapolei is rented to family (3bed 2 1/2 bath) so is at way below market. they pay for all the utilities (electric, water, cable and phone) and association dues.

[Friend-in-Hawaii]

Buying a house like kani-lehua said is best option for that kind of money.
Pearl city/aiea have good rentals and in the middle for commute

[MsHell]

As stated - if you can spend $3300 for housing... BUY!

For the best commute, since you are going in different directions - look at Pearl City and Aiea areas.
Do you prefer house? townhouse? condo?
Do you require a yard? garage?

[Lia18]

Thank you for your replies and advice! We want to get a puppy, so it would be ideal to have a yard. I don't think we'll really need a garage. As far as house, townhouse, or condo, I think I am mainly concerned with rentability if we end up leaving Hawaii after 1.5 years. My fiance is military so that's why it's unpredictable. Is it hard to find reliable tenants if we end up renting out our place, esp if we are living elsewhere? I assume we would use some sort of rental agency? Neither one of us has bought property before so we have a lot of learning to do first!

[HankDfrmSD]

Originally Posted by Lia18

Thank you for your replies and advice! We want to get a puppy, so it would be ideal to have a yard. I don't think we'll really need a garage. As far as house, townhouse, or condo, I think I am mainly concerned with rentability if we end up leaving Hawaii after 1.5 years. My fiance is military so that's why it's unpredictable. Is it hard to find reliable tenants if we end up renting out our place, esp if we are living elsewhere? I assume we would use some sort of rental agency? Neither one of us has bought property before so we have a lot of learning to do first!

If you buy, and then in a few years have to put your place up for rent, you will learn a lot.

Thats what happened to me forty seven years ago. Now I own six properties (some rather large), and that's why my children will be wealthy when I die.

Some of the learning will be painful, but in the long run probably very profitable, and in the process you will learn about people, investments, plumbing, painting, leverage, and lots of other things.

Cross each bridge as you come to it. The next bridge may have fallen down - been rebuilt - have been replaced by a ferry - before you get there.

Get the puppy.

Hank

[kani-lehua]

omg! there's much to learn with home ownership and rentals. both of which i have, too. some advice: do not rent to family! we had to move from our house in kapolei to care for mom in kailua. we were renting to other family members who were supposed to CARE for the kapolei house. we took close to $900.00/mth in losses. now, we break even in kapolei. kailua: we rent to an elderly woman and her cat. haven't raised the rent in 3 years. that's another story for another day.