Planning on being in Hawaii 4 months a year. Better to rent or buy?
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Mogon makes another execllent point. In Hawaii if you are not a full time resident you will require a property manager. They usually take 10% of the gross rental income. Lots to think about....
(f) Any owner or landlord who resides without the State or on another island from where the rental unit is located shall designate on the written rental agreement an agent residing on the same island where the unit is located to act in the owner's or landlord's behalf. In the case of an oral rental agreement, the information shall be supplied to the tenant, on demand, in a written statement.
Our house is a vacation rental, so we have no written rental agreement. We do all of our rentals through vrbo, but obviously have a housekeeper on-island who lets us know if something needs to be fixed.
Aloha again all. Wow thanks for all of the advice. Weve got a lot to consider. I (myself) would love to have a small house with just enough land to grow some plants. I actually have Loulu palms, Hala and tree ferns here in Michigan. I have grown Hawaiian Tree Ferns (Hapu'u) before, but have had a couple Tasmanian Tree Ferns for the last 5 years now. But as was noted by several people, keeping up a faraway house vacant over half the time would be a lot of work.
Im not sure about renting either because if we find a place we really liked and get to know some people there, I would want to be sure we could come back there every year.
So right now Im thinking maybe something like a small condo. The outside would be taken care of, and the Condo Assn would keep an eye on the place and might even handle renting it out when we arent there.
My wife is not real enthusiastic about the idea right now but is willing to try it out. I think that it will help with her being Filipino, when we visited there before, the local Filipinos accepted her like one of the family. As for location I would have thought she would have liked Honolulu best (shopping) but she actually liked Kauai. She hasnt seen Maui yet. Right now Im thinking either Kauai or the Hamakua coast area of the Big Island. I just thought Honokaa was a really cool little town. Being near a beach would be nice but not mandatory. I like doing some swimming and snorkeling but my wife (and most of her Filipino friends dont swim. And they grew up on islands...! So thanks again for your advice and opinions and if you think of anything else that might help, Id appreciate hearing from you. Hopefully we might even get to meet some of you in Hawai'i one day. Mahalo & malama pono!
The majority of people on Kauai are Filipino or mixed Filipino so that would probably work best for her. I'm not sure of the population on the BI here you are interested.
I would suggest you rent for sure either in Poipu or Princeville areas. If you find a good long term rental oceanfront - let me know, as I'm interested in this option for 3 months per year. Good luck.
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