Why own a second home in Hawaii? This is not a new thought because this has been the trend for a long time. Let's examine who is most likely to purchase a house or condominium on Oahu/Honolulu, Maui, Kauai or the Big Island of Hawaii.
WHY PURCHASING A HOME IN HAWAII MAKES SENSE:
1. First and foremost, you keep coming to Hawaii and like one island over another.
2. Hotels or vacation rental charges are adding up.
3. Same with rental cars. Why not purchase a car and keep it at your home?
4. Keep all your clothes and resort items in one place. Suitcases are just not enough.
5. Chances are, you will get to know like-minded other owners in the community you purchase in, and establish friendships.
6. The home will be available for you anytime you are ready to visit.
PURCHASING A HOME IN HAWAII IS AN INVESTMENT TOWARDS A FUTURE SALE:
Why do you EVER purchase a home? For an investment. Traditionally, real estate has increased in Hawaii, so if you do decide to sell your property, chances are your equity has increased and you have had the use of the property over time.
RETIRING IN HAWAII:
If you purchase your home with a loan, now might be a good time so that when you retire it is paid off. In the meantime, you can rent the house or condominium as a vacation rental while you are not using it to deflect some or all of the expenses.
PART TIME RESIDENTS WHO WANT TO GET AWAY FROM WINTER WEATHER
This is especially true this time of the year when winter weather can be brutal. Canadians, for example, have found that Hawaii is the perfect place to come every year. And those who come back repeatedly, have purchased their own home or condominium.
If you are thinking of purchasing a second home or condominium in Hawaii, please give me a call and let's discuss what makes sense for you.