The Issue Each year approximately 800 new cesspools are built on the islands of Hawai’i, Maui, and Molokai. There are close to 90,000 cesspools in the state of Hawaii and roughly 11,000 reside on Maui. Being that cesspools are little more than a pit in which raw human sewage is disposed into, it’s about time […]
A quick follow-up to my previous blog on reestablishing seller financing, we now have a signed Act number regarding Hawaii Seller Financing, Act 225-15. This is outstanding news for any persons looking for an alternative route to financing. Governor David Ige after signing Act 225-15 on July 7th, 2015 How Will This Affect Our Forms & Processes? Here is […]
Changes for net metering have been in the making for quite some time. With so many consumers taking advantage of photovoltaic benefits, it was only a matter of when, not if the program had to be reworked. In January 2015, HECO proposed a plan to the Public Utilities Commission that would handle the switch from […]
I think Canadian citizens will be very pleased to discover that for well qualified borrowers, financing a purchase at the Honua Kai Resort and Spa in Ka’anapali, Maui can be done with as little as 30% down payment. This should be music to the ears of many as most banks require Canadian investors to put down between 35%-40% for their purchases.
Enjoy spacious kitchens available in all Honua Kai units – experience different shades of granite work, solid hardwood cabinetry, and most are equipped with Bosch stainless appliance with the exception of select two bedroom and three bedroom suites which are equipped with Viking appliances.
US Loan Programs Similar to Canadian Financing
- 5/1 ARMS
- 7/1 ARMS
- 10/1 ARMS
These loans are named by the length of time the interest rate remains fixed and how often the interest rate is subject to adjustment thereafter. For example, in a 5/1 ARM, the “5” stands for a 5-year introductory period in which the interest rate remains fixed. The “1” shows the interest rate is subject to adjustment once per year after the introductory period expires.
All rates are subject to change and because I don’t have a mortgage license I can’t quote rates, but I can tell you that they are extremely attractive and are among the lowest rates you will have ever seen US Banks offer Canadian investors.
There has been over $1 Billion invested from Canada in Hawaii Real Estate in the last 8 years. The dollars invested from Canada alone far outweighs the combined figures from all of the other countries in the world combined.
High Percentage of Canadian Investment at Honua Kai
When I last ran my numbers, I determined that about 18% of the owners at Honua Kai are Canadian citizens-predominantly from B.C. and Alberta, but there are provinces like Ontario also represented.
Other foreign countries also represented at Honua Kai albeit at a much lower incidence are: Ireland, Australia, Hong Kong, Singapore, and the United Kingdom. I will be working on a more detailed blog about what states, countries, and owner demographics are at Honua Kai so please stay tuned.
The view from the covered lanai at Hokulani #629, a three bedroom developer unit that the McElligots from Vancouver, BC purchased.
Testimonials from Canadian Honua Kai Buyer Clients
Please read what Paul and Colleen McElligott of Vancouver, BC had to share about their working experience with my team. Canadian Couple From Vancouver B.C. Purchase a 3 Bedroom Honua Kai Unit for $1,900,000.
Here is what Peter and Tracy Konidis of Ontario have shared about their working experience thus far as they will be closing on a two bedroom unit in the near future:
I want to thank you for everything that you have done thus far for my wife and I. I am so glad that I viewed your website and eventually contacted you. I have built my entire career on providing timely responses to my clients questions and concerns. You have definitely mastered this art.
I must admit that it’s a bit scary considering the purchase of real estate without being there to view things. You have gone out of your way in answering all of our questions. You have a good contact list of bankers and property managers that you were able to connect me with.
The information that I was able to obtain was exactly what I was looking for. I can’t tell you enough how important the videos were that you sent us. No request or question went unanswered. When my wife was concerned about the direction the condo was facing and what type of sunlight we could expect, you quickly went to the property and sent us a video of the location of the sunrise and sunset. In fact, you took the video from the unit across from the one we were considering to give us a better prospective.
The extra mile that you took in servicing us has meant a lot to us. That extra mile has allowed us to feel 100% confident in our decision to purchase a unit at Honua Kai. Thanks again for everything!!
-Peter and Tracy Konidis-
Do the Investment Numbers at Honua Kai Pencil Out?
The rental revenues at the Honua Kai Resort and Spa in Ka’anapali present some of the strongest cash on cash returns of any condo-tel property in all of Maui – and perhaps in the entire state of Hawaii. Read all about it here in a previous post: Honua Kai Rental Income Figures.
Who to Contact for Preferred Financing at Honua Kai
As Peter Konidis did, please do send me a direct email or give me call at your convenience to get the inside scoop for all things Honua Kai including my preferred lending contacts.
What is actively for sale at Honua Kai
Here is my gallery of all resale units at Honua Kai as well as some of the remaining developer inventory Honua Kai Real Estate Gallery . Please do also contact me directly for units that are not actively on the market as well as the complete list of remaining developer inventory and what I deem to be the best values.
Aloha from Maui,Jeremy Stice REALTOR (Broker) 808.281.2178 Stice@HawaiiLife.com
My Blog Series on Honua Kai Condos
- Honua Kai Resort in Kaanapali, Maui – Start here, as this blog will provide you with a good overview of the resort including video on its location, and its world class amenities and ownership offerings.
- Honua Kai Resort Real Estate For Sale – Kaanapali, Maui Condos For Sale – This post focuses on the inventory actively for sale and where all the units are located.
- Honua Kai Rental Income Figures – With some of the strongest returns of any ownership opportunity in Hawaii, Honua Kai deserves your strong consideration for short term cash returns on investment.
- New Ocean View One Bedroom Resale Unit Just Listed – check out this post on my one bedroom best buy in all of Honua Kai.
- Honua Kai May 2013 Market Update Report – Read about the new developer price reductions and all the recent market activity down at the resort.
- 50 New Price Reductions on Two and Three Bedroom Units at Honua Kai – New developer price reductions announced on April 18, 2103.
- Honua Kai March 2013 Market Update Report – There has been a significant increase in the level of sales for two bedroom units at the resort. Read all about it here.
- One Bedroom/One Bath Mountain View Unit at Honua Kai Sold for $525,000 – Congratulations to the Kojima Ohana on their recent resale purchase at Honua Kai.
- 5 Remaining One Bedroom Plus Den Units for Sale at Honua Kai – They are sold out of developer one bedroom units but check out this video blog for this niche units starting in the high $700k range.
- Honua Kai 2 Bedroom/2 Bath Condo Sold a Seller’s Perspective – What our seller client had to say about our team selling their property for a $135,000 short term gain.
- 2 Bedroom Ocean View Best Buys at the Honua Kai Resort and Spa – Feb ’13 post on the best ocean view and partial ocean view two bedroom units.
- 4 New One Bedroom Listings at Honua Kai – Posted on January 2013 be sure to check out these best buys priced under $550K
- Honua Kai January 2013 Market Update – What’s happening in the new year at Honua Kai? Are prices increasing?
- Honua Kai HOA Fees Increasing By 10% Effective Feb. 1, 2013 – What are the current fees, what do they cover, and what other costs of ownership are involved?
- 25% Down Payment Financing Options at Honua Kai – Get the inside track on leveraging your cash investments at Honua Kai.
- Canadian Couple From Vancouver B.C. Purchases a 3 Bedroom Honua Kai Unit for $1,900,000 – Did you know that many of the owners at Honua Kai are from Canada?
- Honua Kai November 2012 Market Update – The latest news after a crazy year of selling
- Honua Kai January 2012 Update – Why Honua Kai is the hottest deal in town right now
- Honua Kai Purchase Process – An owner’s perspective of purchasing and experiencing the resort.
- 35% Price Reductions on Condos For Sale at Honua Kai Resort – Read about how the developer dramatically slashed the prices at Honua Kai and where some of the best deals are at.
- Price Reductions on Honua Kai Resort One Bedroom Units – Video blog on 1-bedroom units that are Screaming Deals.
- Honua Kai Resort in Kaanapali – Best Two Bedroom Deals – Video blog on 2-bedroom units that are Screaming Deals.
For all of us who know of the Maui Banyan condo complex in Kihei, I have good news for you. The home owners association has decided to start updating the pool areas. Updating the Pool Areas The pool deck that has been painted numerous times over the years will be replaced with a quartzite tile and [...]