Maui Real Estate Q&A - What's a condo-tel?

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Real Estate Agent with Hawai'i Life Real Estate Brokers HRE# 58089 - RS

Maui Real Estate Q&A - What's a condo-tel?

A Condo-tel is short for Condo Hotel, where a condo complex is run like a hotel or resort, with a front desk that greets guests and takes walk in bookings.  Not all condo buildings will have a front desk for customer service.  Here in Hawaii, condo-tels are quite common in the resort areas where we get a lot of off-island owners.  Absentee owners means a lower percentage of owner occupants.

Maui HI condotels, vacation condos for sale

What does this mean to buyers and sellers?

Buyers need to be aware that their lender will probably require a greater amount of down payment if the complex is determined to be a condo-tel.  Maybe even as much as 40%.  Buyers should work with a Hawaii lender who understands the nuances of condos and resorts here in the islands.  Be prepared to bring as much cash as possible to the table.

Sellers need to understand that this tougher qualification for a loan means that fewer buyers will be in a position to complete the purchase of their desired Maui condo.  That means longer DOM and maybe even only cash buyers will step up to buy.  

Maui HI condotels, vacation condos for sale

 

* SEARCH Maui condos for sale *  

Some Maui condo-tels are:

 

  • Maui Banyan
  • Hale Kamaole
  • Kihei Kai Nani
  • Kauhale Makai
  • Luana Kai
  • Kihei Kai
  • Palms at Wailea

 

Maui HI condotels, oceanfront vacation condos for sale

 

Thanks for reading My Maui Blog!  Georgie Hunter R(S) e-Pro  

Search the Maui MLS right here 

call or text me 808 283-0635 ~ EMAIL

 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Greg Lussier 09/17/2011 05:15 PM
  2. George Thoma 10/04/2011 04:24 PM
Topic:
Home Buying
Location:
Hawaii Maui County Kihei
Groups:
Realtors®
Mortgages
Vacation and Second homes
Hawaii Real Estate Professionals
Hyper-Local
Tags:
condo hotel
front desk
maui real estate q and a whats a condotel
lending requirements for condotels on maui
buyers sellers lenders owners

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Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I have always wondered what that meant, Thanks Georgina!
You have a friend in Tacoma,Washington!
Paul

Dec 08, 2010 02:38 AM #1
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Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

Great job explaining condo-tels and what they mean to both buyers and sellers alike, Georgina.

Dec 08, 2010 05:27 AM #2
Rainmaker
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Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Thanks Paul and Craig!

Dec 08, 2010 11:39 AM #3
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

More great photos, Ahh, it is so refreshing to come to your blog. 

Dec 08, 2010 03:05 PM #4
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Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Georgina - we have them here as well - condo hotels. They are great for investors but often don't allow the owners to use the place very much.

Dec 09, 2010 07:56 AM #5
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Georgie Hunter R(S) 58089

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