Please stop selling to mainland transplants. Too many high rises in Honolulu already. Locals can’t raise their children here because of high prices of homes. You’re pricing us out of our homeland!
Very nice presentation. The bad thing about having your deposit held for 24-36 months while waiting for the new condo construction to be completed is that the deposit is non refundable . So say your deposit is $150-200k (20% of purchase price) and you qualify today, although interest rates are expected to decline, you never know what will happen in 3 yrs, you may not qualify due to future interest rates or other qualifying requirements. That's a huge risk to lose all that money.
Facts! On a different building I was qualified to borrow more money because when they did a pre qualification the interest rates were around 4.5%. When it was the actual time to do the mortgage, interest went up to around 7.1% and was not able to borrow as much as when I did my pre qualifications, which required me to have more cash in hand. Also within 3 months of living there, the cost for condo insurance sky rocketed and the HOA fees went up by 30%+. Edit: Almost all if not all lenders now require full coverage insurance or they will not let you borrow so its almost certain that the HOA fees will definitely be higher than what it is set to now. But anything can change within the 3 years it takes to build.
@@leternadia is the 5% when you did the pre-qualification letter or did the lender actually lock the rate for 5%? When I did my research for lenders, they only locked it for 6 months - 1 year. Could not find one that would lock it any longer.
@@dwellhawaii Thank you Maila. And on old condos the gamble is future assessments. In Hawaii Kai (Plaza Hawaii Kai) I've seen the assessments recently at $238 / mo. till 2035. For Pats At Punaluu the Annual assessment for 2024 will be $35,450, due in monthly installments of $2954.17. That's for a 1-bedroom/1 bath. Not sure if that's just for one year or many years. For a newer condo in Kakaako you get a much smaller place for the same price as in Hawaii Kai but no near future assessments and better amenities. What's the better buy for lets say in the $600k - $800k range?
Thank you for the video. Will Alia be finished before this one? Are the toilets enclosed, it would have been more informative if you use the last minute to talk about the location of the solar panels 😊
I have to say that I lost a little bit of respect for you when you said that you use to sell timeshares. I am not going to unsub because we have all had jobs that we wish we did not do :) I hope you enjoyed my comment...I am going to go and watch the rest of the video.
@@MaesterBK Lighten up Francis. Timeshares were the biggest scams in the 80s and 90s. There are tons of documentaries you can watch about them. Hopefully you didn't buy one. She understood I was just giving her a hard time...I wasn't picking on her or insulting her. Other people got my humor, I'm sorry that you didn't.
@@MaesterBK Lighten up Francis. Timeshares were the biggest scams in the 80s and 90s. There are tons of documentaries you can watch about them. Hopefully you didn't buy one. She understood I was just giving her a hard time...I wasn't picking on her or insulting her. Other people got my humor, I'm sorry that you didn't.
@@MaesterBK Lighten up Francis. Timeshares were the biggest scams in the 80s and 90s. There are tons of documentaries you can watch about them. Hopefully you didn't buy one. She understood I was just giving her a hard time...I wasn't picking on her or insulting her. Other people got my humor, I'm sorry that you didn't.
Huh, 68 cents and sf for maintenance, I was told over $1 sf for maintenance, but I guess the draw could be saying 68 cents now then doubling it to $1.36/sf after everyone moves in lol
Aloha Maila, excellent coverage of Kuilei place . I remember earlier days of viewing virtual walkthroughs at the Hawaii Kai Peninsula Colony condos. Back in the day a 1349 sq foot unit would set your back only $442K. As always loving your cool aloha outfits and excellent presentations. See you around Hawaii Kai one day!
