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Even "for free" you can find the addresses of foreclosure properties and research them from wherever you are. The most vacation-rental-friendly places are likely those closest to the beach (primarily located in/near Kihei according to the generic forclosure sites). This sounds like an investment rather than a family move, so be advised that Maui County has been in an uproar over "temporary vacation rentals" for the past few years. I don't know how condos are affected, as it seems that there are plenty available via VRBO and other similar services. If you plan to recoup your investment via vacation rentals, however, do check to see that whatever address you are interested in is in an area zoned for a legal vacation rental.
The other side of the investment coin would be demand. Currently, Maui's hotels and condos are significantly undersubscribed for this time of year. And for the next quarter or so. Flights to the neighbor islands have increased fares significantly higher than those to Honolulu. And there is a slow-down overall. Depending upon your investment scheme, you need to calculate in several months (or more than a year) of reduced and/or non-existent rental income until the national economy recovers for mainlanders to be attracted to Maui again. With or without reduced airfares. While there are "values" in the Hawaii real estate market, there are significant pros and cons depending upon your personal wealth and risk tolerance.
Usually sheriffs office publish list of foreclosed properties, rules and schedules for auctions. For example NJ Monmouth county - Monmouth County Sheriff Kim Guadagno - Foreclosures
Is there anything similar for Maui? Or list of properties only available at sheriffs office?
I thought I read Maui was not issuing any new vacation rental permits. If you purchase a house with a rental permit then you are allowed to continue to rent. Does this also apply to condos?
A note to those considering buying a condo in HI: the monthly maintenance fees can be extremely high, so you should allow for that in your budget.
I thought I read Maui was not issuing any new vacation rental permits. If you purchase a house with a rental permit then you are allowed to continue to rent. Does this also apply to condos?
A note to those considering buying a condo in HI: the monthly maintenance fees can be extremely high, so you should allow for that in your budget.
My understanding is that individual houses and condos in Maui's "designated resort areas" can be rented legally without permits. Since the areas were designed to accommodate tourists, it's a way for owners of properties in those areas to maximize their investments.
The current permitting process procedures change weekly -- daily, even -- but it supposedly only pertains to properties in non-resort residential (and I think also agricultural) areas. There is at least one article a week in The Maui News and there are letters to the editors almost every day.
There are definitely houses and condos available for rental by realtors and at VRBO, etc. The rules for rentals seem to vary from county to county, BTW. Maui County (which includes Lana`i and Moloka`i) seems to be the only county having a big problem with Temporary Vacation Rentals (TVRs).
And you are right -- some of the condo/HOA fees are really high, and any prospective owner should carefully look into both the fees and the property maintenance before buying.
In our county, it is required that a rental have an on-island manager if it is going to be rented. Don't know if a rental agency has to cover the ones on Maui or not.
As far as foreclosures, an acquaintance today said they were losing their house and they aren't even done building it yet. They are asking $750K for it, though, so I doubt it will sell before they go upside down.
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Moratorium on Vacation Rental Permits?
