Thinking of Moving to the Big Island of Hawaii

[tryan]

Little bit funny ... learned over the weekend (golfing) a friend is ON HGTV. He bought a small 2 BR condo on the Big Island. It's 109 units all new. Paid 149K ... units now selling for ~200k.

Issue is the pool ... one was promised but never built. HOA will probably sue the developer. 6 miles from the ocean.

Oh! The drama!

 

[REWahoo]

By the way, do you know what "VOG" is?

I have first-hand knowledge of what happens when VOG meets tamper-resistant paper and inks used in the printing industry - esthetically displeasing results. We had to use different formulations for products we produced for the Bank of Hawaii.

 

[Ready]

We have been here for a few days now. Saw some beautiful condos in the Mauna Lani area selling for around $900K for 2,000 square feet. About a mile to the beach. I am always very tempted to buy whenever we are out here, but I can't justify owning a second home so far away. So I guess just some more dreaming for me.

But it sure is beautiful out here. Heading off to see the volcano shortly.

 

[xyz]

We have been here for a few days now. Saw some beautiful condos in the Mauna Lani area selling for around $900K for 2,000 square feet. About a mile to the beach. I am always very tempted to buy whenever we are out here, but I can't justify owning a second home so far away. So I guess just some more dreaming for me.

But it sure is beautiful out here. Heading off to see the volcano shortly.

We love Mauna Lani ! We are here on the Big Island for 3 weeks now as I am competing in the Ironman 70.3 on the 31st. The price of the condos are not so bad but the issue tends to be with the maintenance fees (around $1800/mo). That's what has kept us from buying here..

 

[Ready]

We love Mauna Lani ! We are here on the Big Island for 3 weeks now as I am competing in the Ironman 70.3 on the 31st. The price of the condos are not so bad but the issue tends to be with the maintenance fees (around $1800/mo). That's what has kept us from buying here..

I'm staying in Hali'i Kai (Waikoloa Beach) now, where the condo fees run from about $1200-$1800 per month. The condos we looked at buying (Kulalani in Mauna Lani) run from $1,000-$1,200 per month. The nice thing about the Waikoloa unit is that it is 200 feet from the ocean with a completely private lanai, so nothing but ocean to look at from the lanai outward. The unit is listed for sale at $1.15M because of the view. Without the view the unit would only be $450K.

However, looking at VRBO rates, I just can't economically justify buying these places. I'm renting this unit for $200/night, and in Kulalani I see 2,000 square foot units being quoted during the low season at $4,700 per month. So even if we wanted to live out here for 3 months per year, the rent would be less than just the HOA fees we would have to pay annually.

 

[tryan]

The unit is listed for sale at $1.15M because of the view. Without the view the unit would only be $450K.

However, looking at VRBO rates, I just can't economically justify buying these places. I'm renting this unit for $200/night

Wow ... that's a no brainer! Let some one else subsidize your housing.

 

[Rambler]

We keep toying with the idea of a small condo on Maui or maybe Oahu, where we would stay during the colder central california months. Maybe 3-4 months a year...rent it out the rest of the time. Not sure I want to further complicate my life and assets, so it may never happen. But, we'd never move there permanently, only seasonally.

R