How do you manage your time between HI and your other residence? (renters)

[HostelDweller]

All, I really enjoy this forum and really love Oahu. Although I've been a regular visitor for 25 years, I've stepped it up over the last few by visiting twice over the winter for a total of 3.5 weeks (staying in VRBO Waikiki Condo and North Shore "Surfer Room"). Unfortunately, I may never completely relocate to HI. As I approach a modest retirement, the experiences of others who split their time interests me. So...how do you do it balancing family, grown kids, primary home, finances etc.?

There are a number of posters who list 2 locations is why I asked.

Thanks

[Dreaming of Hawaii]

Everyone's story is different. Here's mine.

We live in Hawaii for about 8 months of the year and Colorado for the remainder. Our reasons for returning to Colorado for the summer includes: 1. family. We have kids and grandkids in Colorado and it's our chance to spend time with them. The rest of the year is Skype or FaceTime. 2. doctors. We still have doctors that we visit for on-going issues. 3. road trips. It's good to get off the rock once in a while. We still enjoy travelling and summers are a good time for us to see our great country and visit friends scattered around.

It truly is a balancing act with family. A lot of our friends either go back more often or spend more time back on the mainland (six months rather than our 3 or 4) so that they can spend more time with grandchildren. Especially at Christmas time it is hard to be away from family. The other family issue that a lot of us have is aging parents. It is impossible to care for them from thousands of miles away, and some people end up moving back home so that they don't have to put their parents in a nursing home. When we moved here we knew that there would eventually be emergency trips back to Colorado to deal with elderly parents.

We have made Hawaii our primary home. There are tax advantages and income advantages, so you need to look at your own circumstances. When we are gone from our Colorado home, we pay someone to check on it twice a month to make sure that everything is okay and there are no water leaks or other problems to take care of. When we are gone from our Hawaii home, we have house sitters.

You need to take into consideration the fact that you will be paying utilities, property taxes, insurance, maintenance, etc. in two places. Plus we have a car in each place.

Not to rain on your parade, but it is hard to live here on a "modest retirement" if you plan to maintain two residences and want to travel back and forth. Additionally, unless you live in one of the west coast cities, plane fare can be very expensive.

[HostelDweller]

Originally Posted by Dreaming of Hawaii

Everyone's story is different. Here's mine.

We live in Hawaii for about 8 months of the year and Colorado for the remainder. Our reasons for returning to Colorado for the summer includes: 1. family. We have kids and grandkids in Colorado and it's our chance to spend time with them. The rest of the year is Skype or FaceTime. 2. doctors. We still have doctors that we visit for on-going issues. 3. road trips. It's good to get off the rock once in a while. We still enjoy travelling and summers are a good time for us to see our great country and visit friends scattered around.

It truly is a balancing act with family. A lot of our friends either go back more often or spend more time back on the mainland (six months rather than our 3 or 4) so that they can spend more time with grandchildren. Especially at Christmas time it is hard to be away from family. The other family issue that a lot of us have is aging parents. It is impossible to care for them from thousands of miles away, and some people end up moving back home so that they don't have to put their parents in a nursing home. When we moved here we knew that there would eventually be emergency trips back to Colorado to deal with elderly parents.

We have made Hawaii our primary home. There are tax advantages and income advantages, so you need to look at your own circumstances. When we are gone from our Colorado home, we pay someone to check on it twice a month to make sure that everything is okay and there are no water leaks or other problems to take care of. When we are gone from our Hawaii home, we have house sitters.

You need to take into consideration the fact that you will be paying utilities, property taxes, insurance, maintenance, etc. in two places. Plus we have a car in each place.

Not to rain on your parade, but it is hard to live here on a "modest retirement" if you plan to maintain two residences and want to travel back and forth. Additionally, unless you live in one of the west coast cities, plane fare can be very expensive.

Thanks, your situation makes a lot of sense and is consistent with what I read in other Snowbird type forums. My situation makes decision making a little easier since I will not have to worry about kids schools, career or buying a home on Oahu (having 2 homes), we're locked in NJ for a few years.

My relationship with HI is pretty good right now, always trying to better it a little more. Just booked my cheap solo 9 night February 2017 trip: It starts with a $717 flight, $720 NS surfer room with shared bathroom, $360 minivan=$1797 before I even crack a beer. As we all know, this place weeds out the uncommitted, it's just too expensive for the average person.

[Dreaming of Hawaii]

I did forget to mention that we are retired and have no kids at home, although that was probably obvious. Also, buying on the Big Island was WAY more affordable than Oahu.

BTW, $717 RT from NJ is a GREAT price. We can't fly that cheaply from Denver!

[WaikikiBoy]

For me, I am not retired yet and have no children. I bought about 5 years ago basically as part of pre-retirement planning.


I wanted a building with amenities, a condo that was designed to support full-time living, and a building that was zoned to allow both Vacation Rental or Long-term rental. And in a location that would allow me to walk to stores and restaurants.


While I'm still working, I have the ability to work remotely. This affords me the opportunity to work from Hawaii when I choose, or return to the mainland to work there if I choose. When I'm not in Hawaii, I rent the unit. Currently I'm renting it on a long-term basis. I use the Unit between tenants.


Once I retire, I'll shift the unit in vacation rental usage so I can block out time whenever I choose to be in Hawaii and for as long as I choose. And when I'm not there, it will be booked with short-term vacation renters to cover the expenses on the unit.


From the West Coast, round trip flights are not too expensive. I can normally book for about $500 round trip. Once retired, I'll likely spend time at the unit in blocks of about 3 months.


Everyone's situation is different. This set up works for me. Financially I understand it is not feasible for most people to own in several different locations.

[SFHNL]

Sounds like a plan!