If you have been house hunting on Oʻahu lately, it probably feels like the numbers just do not add up. Prices are high, and today's interest rates can take a big bite out of your monthly payment. It sounds like you want a way to keep that payment in check without giving up on the neighborhood you love. There is an option that many buyers never hear about: an assumable mortgage. What is an assumable mortgage? When a mortgage is assumable, the buyer takes over the seller's exis

Short answer: not automatically. A CPR isn't a form you file. It's a legal process with conditions, and the state and county decide whether your property qualifies. You've probably heard someone say, "Why not just CPR it?" Maybe it's a second dwelling on the lot, or a big property that could become two homes. Here is what the law and the state's own guidance actually say. What is a CPR? CPR stands for Condominium Property Regime, governed by Chapter 514B of the Hawaii Revised

Hawaii’s condominium insurance market is currently in a state of crisis, with skyrocketing premiums and the dwindling availability of hurricane insurance. Since condominiums make up about a quarter of Hawaii’s housing, this is creating serious financial challenges for both homeowners and renters. New Legislation In response, lawmakers are pushing for a bill designed to stabilize the insurance market. The proposal involves raising taxes on short-term vacation rentals and rein

When you buy a house in Hawaii, whether or not you own the land depends on the type of property ownership: fee simple or leasehold. Here’s a breakdown of these two types of ownership: 1. Fee Simple Ownership: What It Means: In a fee simple arrangement, you own both the house and the land it sits on. This is the most common type of property ownership in the United States and is highly preferred by most buyers. Advantages: You have full control over the property, including the

Hawaii is renowned for its natural beauty, pleasant climate, and unique culture, making it a highly desirable place to live for many people. Here are some key factors to consider when determining if Hawaii is the right place for you: 1. Natural Beauty and Climate: Scenic Landscapes: Hawaii offers stunning landscapes, including pristine beaches, lush rainforests, and volcanic mountains. Outdoor enthusiasts can enjoy hiking, surfing, snorkeling, and other recreational activitie

The 99-year lease is a type of leasehold property arrangement common in Hawaii. This can be an attractive option for some buyers, but it's essential to understand how it works and its implications. 1. Leasehold vs. Fee Simple: Leasehold: In a leasehold arrangement, you own the building or structure, but you lease the land it sits on from the landowner for a specified period, typically 99 years. Fee Simple: In a fee simple purchase, you own both the land and the building on it

Buying a house in Hawaii is generally not considered cheap compared to the national average. Here are some key points to consider: 1. High Median Home Prices: The median home price in Hawaii is significantly higher than in many other states. As of 2024, the median home price is around $850,000, with prices in popular areas like Honolulu and Maui often exceeding $1 million. 2. Factors Contributing to High Prices: Limited Land Availability: Hawaii’s geography limits the amount

The cost of a house in Hawaii varies significantly based on several factors, including the island, neighborhood, property size, and type. As of 2024, here is a breakdown of median home prices by island: Oahu: The median home price is approximately $1,050,000. Oahu, home to Honolulu, offers urban amenities, job opportunities, and attractions, contributing to higher real estate prices. Maui: The median home price is around $950,000. Maui's beautiful beaches, luxury resorts, and