Hawaii Life Real Estate Brokers » Lanai

Zero Down Home Loans Available

Sharon Gerber, Senior Loan Officer — Fri, 03 Feb 2012 06:45:00 +0000

USDA/Rural Housing Loans Offer 100% Financing on Hawaii Homes

Many people are unaware that there is still 100% financing available. There are definitely eligibility requirements for the property and the borrower. To find out if you are eligible, this website is an excellent resource: http://www.eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

As an example, the whole island of Kauai is considered rural. This does not mean that every property on Kauai is eligible for this loan, but does broaden the liklihood that a property would be eligible. Condos are also eligible as long as they are already on an approved government list, such as VA or FHA.

Income eligibility is a key piece as well. The income guidelines are generous. I recently closed a USDA/RH loan for a single borrower that makes just under $50,000 per year.

For more information, or if you have any questions, please contact me.

Escape to the Island of Lana’i

Beth Thoma Robinson, R(B) — Thu, 15 Dec 2011 21:31:16 +0000

On an exceptionally clear day from the Kohala Mountain Road, or any of my property listings in the Puakea area near Hawi, North Kohala, looking to the left of the island of Maui I can make out the island of Lana’i.

Maui is visible from the Hawi area most days; once in a while we see Lana’i and Kaho’olawe to the left

Which Hawaiian Island to Choose?

Some of my Mainland friends were surprised that instead of going to Switzerland or Sonoma for vacation, this year we decided to leave our laid-back, rural island for an even more laid-back, rural island about 70 nautical or air miles away.

One of the advantages of the Hawaii Life website is that you can search for real estate on any of the islands. That’s useful because if you are thinking about moving to Hawai’i or buying a vacation/second home here, your first decision is which island?

Which island is not so much a geographical choice as a lifestyle choice, and that was also true of our decision to vacation on Lana’i. Whether you are considering a vacation on the island of Lana’i…or fall in love with it and want to know about real estate options there…the lifestyle considerations will be, for some, its charms and for others, its limitations.Probably best known as the island where Bill and Melinda Gates chose to get married, for those of us who live on other Hawai’ian islands, Lana’i is similarly thought of as a “special occasion” destination. My special occasion was feeling so burnt out I was behaving like a snapping turtle and wanting to make the most of a week-long, too-short escape.

View Larger Map

Traveling To Lana’i

Traveling from the Big Island to Lana’i by commercial transportation is inconvenient (no direct commercial flights). The two choices are:

To fly from Kona to Lana’i City by flying to Honolulu and then back-tracking on a connecting flight
Flying to Maui, then traveling by land to Lahaina, followed by taking a ferry to Lana’i

If you are coming from the Mainland, you similarly will need to find a direct flight to Oahu or Maui and then connect to Lanai from there.

We had another option. This vacation idea began when my husband sailed from Kawaihae with the friend whose boat he crews on every Sunday. The Alenuihaha Channel is notoriously difficult to cross…and although the sail over was uneventful, the weather changed and they were stranded on Lana’i (ahhhh…). Finally, they decided to leave the boat and fly home pending better weather.

The good news is they found a pilot willing to fly, pick them up on Lanai, and fly directly home to Upolu Airport…so for our vacation we opted to hire the same plane. In less time than the hour it would have taken us to drive from our home in Hawi to Kona Airport, we made it from our Big Island home to Lana’i Airport!

Hotels on Lana’i

Vacationers have a choice of three hotels:

The Four Seasons Lodge at Koele
The Four Seasons Resort Manele Bay
The Hotel Lanai in Lanai City

Shuttles run between the three locations, Koele-Lanai City-Manele in less than 30 minutes. The rest of the island is basically undeveloped and best explored by jeep or ATV. For the romantically inclined, think of Lana’i as an island in Fiji, only a lot easier to get to. For the easily bored, you can take the 45-minute ferry from Lana’i to Lahaina, Maui, but if immediate access to shopping, restaurants, and movie theaters are a “must” for you, this is probably not “your” island.

The Four Seasons Lodge at Koele:

Our first stop was the Lodge at Koele, which gave us the feeling that we had gone to Switzerland or Sonoma! Located upcountry at an elevation of 1,800′, the Lodge has a great room with huge fireplaces and the tallest Christmas tree I’ve seen since the last time I was in Rockefeller Center in December.

The resort restaurants feature venison dishes from local deer…although the turkey was clearly farm-raised. If you know how to make your own fun, you can do very well at Koele. Some of the resort’s activities include:

Golf
Horseback riding
A shooting range
Croquet
Lawn bowling
Hiking
Mountain biking
Dancing to a local band at the Hotel Lanai’s Lanai City Bar and Grille on Saturday night
Heated pool and hot tub at the Lodge

The Four Seasons Resort at Manele Bay

The second half of our vacation was spent enjoying water sports (well, to be truthful, mostly the beach side lounges and poolside cocktails) at the Manele Bay Resort. We were too early to see whales, but watched spinner dolphins frolic in a huge school for an entire morning. I don’t think you want to know what color my toenails are after one of the best pedicures of my life…but seriously, I was on vacation and it IS the holiday season!

Most importantly, I ended the week feeling incredibly refreshed. So much so that I spent the afternoon before our return in the company of the principal broker of Island of Lanai Properties familiarizing myself with the inventory of real estate for sale on Lana’i. One could superimpose the exact area of my Big Island real estate focus (Hualalai to Hawi) on the luxury communities of Manele and Koele on Lana’i, but that will have to be the subject of another blog post.

A hui hou,

Beth Thoma Robinson, R(B)
808.443.4588
beth@hawaiilife.com

Who Wants a Hawaii Life Trucker Hat?

Brad Haeger, Marketing — Fri, 02 Dec 2011 01:20:11 +0000

Spreading aloha to our top fans, we’re going to give away a Hawaii Life Trucker Hat to our #1 Facebook fan (starting now through Dec. 5th). You can track your ranking by clicking on the Top Fans tab on the left side of our FB page. You will see the leader board and how many points each of the top fans have, so you know where you stand. Good luck!

Hawaii Life Trucker Hat

Maui Voted Best Island in the World 17 Times

Kathleen Wilson, R(S), SFR — Tue, 01 Nov 2011 22:15:41 +0000

No surprise! Maui’s beauty and versatility are never ending, offering a smorgasbord of adventure, amazing restaurants with fabulous organic food, and healing modalities to bring about rest and rejuvenation. It is no wonder that Conde Nast Traveler Readers’ Choice Award again honored our “magic isle” as the best island in the world for the 17th time!

The Hawaiian Islands scored the following:

Maui came in first place: 92.1
Kauai came in second place: 90.1
The Big Island and Oahu tied for 4th place: 85.8
Lanai made the top six: 84.6

Maui was also voted “Best U.S. Island” for the 21st consecutive year. While you are visiting our land of waterfalls, rainbows, and tropical animals, consider owning your own piece of the best island in the world! Prices have never been better.

On Maui, and in the Hawaiian Islands in general, there are no limits to the variety of choices available that astound and entertain. It gives me goose bumps every time I think about how lucky I am to be selling real estate on the best island in the world…and to have Hawaii Life Real Estate Brokers as a major part of my support system. Maui herself sells real estate, I only facilitate the transaction.

Connect with my blogs on foreclosure properties (and more) and how to find the best value for your property purchase, which includes a step-by-step process on “how to” purchase your bank owned property.

Our offices are working upwards of 30 pre-foreclosures (properties not listed in the MLS) at any given time. To protect homeowners and tenants currently still living in bank owned properties, and because of MLS rules, we are unable to give out addresses of our unlisted pre-foreclosures.

As bank owned properties are able to be listed on the MLS, if you answer a few questions below, we will contact you when a property of your dreams is about to be listed.

Please call with or send the information below:

Assets you desire in a property: (i.e. acreage with a house and cottage, condo, 3 bed/2 bath, swimming pool, vacation rental on the golf course, etc.)
Pre-approval letter or proof of cash: I would be happy to send you names of loan officers, so that you can be pre-approved and ready to make an offer
Preferred location: (i.e. W. Maui, S. Maui, or an actual town such as Haiku, Kapalua, Kihei, Wailea, or a zip code)
Phone number, name, and email address

Kathleen Wilson R(S), SFR – Short Sale Foreclosure Resource, FSI – Short Sale Certified Professional, FSI – REO Certified Professional

3 Things You Should Know Before Making an Offer on a House in Hawaii

Kelly A. Lee, R — Fri, 28 Oct 2011 23:27:41 +0000

Purchasing real estate is a fun adventure and, when done right, can be a very rewarding experience on many levels. So, before you make an offer, follow these 3 important steps to help make your property buying experience a positive one:

1. Determine How Much You Can Afford To Spend: Searching for a property can be fun and exciting when you think about getting a new place and maybe remodeling. However, before you get too carried away, it is vitally important to do the numbers first. There is no need to spend time looking at property that is not within your price range. Talk to a lender and find out financially what you pre-qualify for. This gives you a ballpark price range to work with during your real estate search.

2. Find a Location That’s Right for You: One of your most important decisions is…location, location, location! There are many factors to take into consideration when making this decision, so spend some time, do some research, and think it through. Also, make sure to get familiar with the neighborhoods and towns you are considering. One final note on this: any home can be remodeled, or even torn down and rebuilt, but location is not easily changed.

3. Get a CMA (Comparative Market Analysis): Once you have zeroed in on a property, it’s time to have your Realtor do a CMA. By understanding how a home compares to recently sold property in the surrounding area you will be able to come to a conclusion on what to offer. Learn more about using CMA’s to find good deals in Hawaii.

If you have thought about purchasing property in Hawaii and would like a CMA, I am happy to help.

Kelly A. Lee, (R) e-PRO, CHMS
kelly.lee@hawaiilife.com
(808)-225-0349

Planning for Hawaii Retirement Using Universal Design

Claire K. Bajo RS — Fri, 28 Oct 2011 04:09:09 +0000

Photo from QualityHomeConcepts.com Featuring Universal Design

Tips for Seniors (66+) and Baby Boomers (47+)

Aloha! In learning more about how to plan for our aging family, I wanted to share some information with you that I received when becoming a certified Senior Real Estate Specialist [SRES]. During my training, I fell in love with the concept of a Universal Design.

Universal Design Standards are building guidelines for creating homes “…so that they are usable by all people to the greatest extent possible.”

If you are preparing for retirement (or planning to help take care of aging parents or people with disabilities) you may want to re-design your home, or update the floor plan, to add more functionality.

Universal Design Principles Include

Equitable Use: Does it meet the needs of a variety of users with diverse abilities?
Flexible Use: Does it accommodate a wide range of individual preferences?
Simple and Intuitive: Is the design of the home easy to use & understand?
User-Sensitive: Is it sensitive to the user’s abilities? i.e. hearing impaired, low vision.
Minimizing Room for Error: Does the home minimize consequences of accidents and provides fail-safe features?
Ergonomics & Functionality: Is the space adjustable, and is it easy to reach from a normal body position with little or no bending?

Universal Design Video

If you would like more information on Universal Design and Aging in Place, please contact me. I would be happy to share the helpful knowledge I received as a Senior Real Estate Specialist, and I look forward to helping you & your families in preparation for the future.

Blessings Always,

Claire K. Bajo, RS
Senior Real Estate Specialist
(808)-756-4874
claire@hawaiilife.com

October Resort Report – Waikoloa Beach Resort Sales

Dan Fumento, R(S) and Marion Fumento R(S) — Sat, 15 Oct 2011 02:20:36 +0000

Condo sales dipped in the Waikoloa Beach Resort in September to one unit sold. No doubt, the turmoil in the economy is having a bearing on sales. While you might expect lower sales in September, since it is the beginning of the low tourism season, escrows closed in September reflect transactions begun in July and August.

The next graph, Median Sales, shows a much flatter trend, indicating prices are holding steadier. As of the date of this blog, there were 49 total condo listings in the Waikoloa Beach Resort with a median price of $383,370.

Hawaii Five-O (Ua Lawe Wale) Visits Lanai Real Estate

David E. Buck, R, BIC — Tue, 04 Oct 2011 05:30:26 +0000

This past week’s episode started off with a mock finish of the Molokai to Oahu SUP (stand up paddle board) race at Bellows Beach in Waimanalo.

Photo I took on Bellows Beach in Waimanalo last week

Ironically, I just finished this past week at that same beach for the Hawaii Association of Realtors’ Leadership Academy. It’s beautiful and much more scenic than where the real race finishes in Hawaii Kai. When the teenage winner of the race doesn’t show up at the podium, her parents soon realize she’s been kidnapped.

Meanwhile, the new governor is introducing McGarrett to his new partner, who used to work for Homeland Security. When the Five-O team sets out to investigate the scene and interview her parents, they find out that she has a heart condition and can’t go 24 hours without her medication.

Back at headquarters they discover some correspondence she had through social networking, which led to a lead who turns out was the owner of the kidnapping vehicle. After further digging, they uncover he’s got a rendezvous the following day at Wailana Coffee House in Waikiki.

View from Wailana unit #1104 (MLS# 1102956) above the Wailana Coffee House

Wailana Coffee House is a landmark restaurant in Waikiki that sits at the base of the Wailana condominium, where there are currently 7 units on the market. When the next alleged victim is brought in, it turns out the so-called kidnapper is a professional cult extractor and she was meeting him for his services.

After more research, they discover there was a cult that didn’t believe in modern medicine that the teenage girl was born into, and her mother wanted to save her life and gave her up for adoption due to her heart condition. It turns out that cult has a retreat on the island of Lanai.

This cute little home in Lanai City (MLS# 348122) can be yours for only $250,000

The Five-O team heads over there to rescue her from the cult and get her much needed heart medication. This is the first episode I’ve noticed where it looks like it was actually shot on a neighbor island. There have been several in the past that were supposed to be Kauai, Molokai, etc., however, looked like they created a set on Oahu.

The “on-location” scenes were really cool and unique, as Lanai truly is cool and unique…If you haven’t been to Lanai, I highly recommend going there. For us locals, it’s one of the best spots for a “staycation.”

This vacant lot on Lanai (MLS# 349556) can be yours for $1.3 million

Well, if you haven’t guessed it, McGarrett ultimately caught the cult leader and returned the SUP champ back to her parents safely on Oahu. If you’re considering living your Hawaii Five-O life in Waimanalo, the Wailana, or on the island of Lanai, contact me for more information.

Great Condo Deal in the Grand Champions at Wailea Complex

Tracy Stice, R, Broker In Charge, ABR, CRB, CRS, GRI, GREEN — Thu, 29 Sep 2011 23:10:34 +0000

A wonderfully upgraded unit (#110) came up for sale on the market in Grand Champions at Wailea. This 2 bedroom/2 bathroom unit (MLS# 349411) has been totally gutted, refurbished, never been occupied since, and is now on the market listed at an incredibly low price of $610,000 for a property in Wailea.

Grand Champions complex counts 188 apartments in twenty 2 and 3-story buildings scattered over 12.25 acres. Its construction was completed in 1990. From 1 bedroom/2 bathroom up to 2 bedroom/2 bathroom with den, the 4 floor plans range from approximately 908 sq. ft. up to 1,383 sq. ft., covered balcony (lanai in Hawaiian) not included.

Surrounded by a green belt, some units are along the Fairway of Wailea’s elite Blue Golf Course while others are facing the Wailea Tennis Club and its “onolicious” Joe Bar’s and Grill restaurant, owned by renowned Bev Gannon and her husband, Joe.

Unit 110 is on the tennis court side and offers a nice ocean view in the distance. Being a top floor unit, it has vaulted ceilings, a sense of space, and is beautifully decorated throughout.

The furniture is brand-new…featuring new tile floors throughout (except in the bedrooms), granite kitchen and bathroom counter tops, and stainless steel appliances, giving it a classy feeling.

Sleep in your own brand-new bed…this could become your Hawaii home!

Enjoy the dual vanities and the extra large walk-in shower with seating to pamper yourself after a hot day in the sun

A unique feature of the Grand Champions in the larger 2 bedrooms units is the lock-off capability, maximizing the vacation rental flexibility. To find out if some of these units are for sale, call me at (808)-280-8167, or Toll Free at 1-800-667-5028 Ext. 8326.

Grand Champions’ Amenities:

Vacation rentals are permitted
2 pools with spa
Designated BBQ areas
On-site manager
Uncovered parking stalls are assigned to each unit
Special golf and tennis rates are offered to Wailea owners

Owners and renters alike walk along the walkway, pass The Shops at Wailea with its casual to fine dining restaurants, boutiques, and more…to reach the world’s top white sandy beaches of Wailea. Unfortunately, pets are not allowed on the premises.

With 11 years of local knowledge of the Maui real estate market, and working with buyers and sellers alike in Wailea, but also island-wide, I am bringing all the Hawaiian islands in your home with the click of a mouse and the #1 Hawaii real estate search engine website, HawaiiLife.com, which has more than 120,000 visitors per month. Be one of them and…if you are thinking of buying or selling a property on Maui, please contact me first at (808)-280-8167, or email me at fabienne@HawaiiLife.com and visit my website to get more general information about Maui. I would like to be of service.

With Aloha,

Why Should I Use a Hawaii Buyer’s Agent – Part 3

Kelly A. Lee, R — Tue, 20 Sep 2011 23:20:30 +0000

Hawaii Real Estate Buyer Tips—Part 3.

This is a continuation on my blog series on selecting a buyer’s agent and purchasing Hawaii real estate. Many times, people start their search for a home before they know if they can buy a home, or how much house they can afford. It is important to know what you want and how to get it.

Life is too short to waste time going down a path that leads nowhere. If you set the path, or have your agent help set up the path, you are much more likely to get where you want to go. We went over these questions on my last blogs on the subject.

Here are the links to my previous blogs on this subject, part 1 and 2:

These are the rest of the questions and answers:

How do I navigate through the process with inspectors, escrow, agents, loan officers, appraisers, and all the other professionals involved in the transaction?
What is HUD and why do I hear people talk about that?
What kind of fees will I have to pay?
What are the differences between escrow fees and loan fees?
Why do I have to pay these fees?
How much down payment do I need?
Who do I talk to about all this stuff?

8. How do I navigate through the process with inspectors, escrow, agents, loan officers, appraisers, and all the other professionals involved in the transaction?

The best way to navigate the process is to have a buyer’s agent assist you in the entire process from finding the property, getting pre-qualified, and finding the necessary inspectors to closing. An agent can help you keep it all on schedule since this is what they do everyday, all day.

9. What is HUD and why do I hear people talk about that?

The HUD statement is a closing statement that is given to both buyer and seller at closing, which reveals in detail what the costs are associated with purchasing property. This document must be prepared and provided to all buyers and sellers of Hawaii real estate. This document helps protect consumers from any “hidden fees,” or surprising costs at the closing table.

Your real estate agent should get a copy of this report as well, so that he or she can make sure that it is compliant with the purchase contract. The HUD is created by the settlement company (Title and Escrow) involved in the transaction. Make sure you keep a copy of this form for your tax preparer at the end of the year.

10. What kind of fees will I have to pay?

There are many fees that need to be paid during and at the closing table of a real estate purchase. You don’t want to be blindsided by a request for thousands of dollars for closing costs. You can use a mortgage payment calculator to give you an estimate of the loan payment, but the loan payment is only what you pay after closing and usually does not include all the fees that you will be responsible for. Here is just a partial list and you can ask your agent or loan officer to see a sample HUD, which can show what to expect.

Points: you hear 4% and 2 points. The 2 points are fees for the loan expected to be paid at closing and each point is one percentage point. $100,000 mortgage—2 points is $2,000. Appraisals, property inspection, taxes, transfer fees, insurance, escrow fees, attorney’s fees, settlement fees, prorated association or maintenance fees, the list goes on. Be sure that prior to starting your home search, you have an estimated idea of how much money you will need to bring to the closing table. It is best to have this all figured before you start your search for a home.

11. What are the differences between escrow fees and loan fees?

There are 3 professionals that work with you from the beginning of your search until the keys are in your hands. There are many other professionals that advise and assist along the way, but these three are there every hour of everyday of your home buying journey:

Your real estate agent who helps you locate the home, negotiate purchase contract and contingencies, manages the process, and assists in analyzing the property and terms.
Your loan officer who will pre-qualify you for a loan, take your application, and assist in getting the money needed for the purchase.
Your escrow officer will hold deposits and monitors compliance by both buyer and seller in adhering to the agreed upon written contract.

Numbers 2 & 3 are two separate entities with two separate jobs, so they each have their own fees for services. They will gladly give you an estimate for those fees once they know which property you will be pursuing.

12. Why do I have to pay these fees?

The plain truth is that in a real estate transaction, there are often dozens of people who handle each part of one real estate transaction. There are many reasons for these fees, but plainly, it is for profit and salary. Everyone who has a hand in your transaction has a family and earns a living by being a part of the real estate transaction. Each company has a responsibility to their owners or shareholders to provide a service and earn a profit.

These are professionals that often deal with hundreds of transactions a year and this is how they earn a living and provide a service. Buying a home is complex and involved. There are many facets of the transfer of property. At closing, as a buyer, you are usually looking at a cost of 3%-4% of the sales price as your costs associated with having all these people contribute to the successful purchase of your investment.

13. How much down payment do I need?

This is an excellent question when buying a home. It would be heartbreaking to search for a house, find the house, and then find out that you do not have enough money to get it. This is why it is important to talk to a loan officer prior to starting your search. Sure, you can browse for houses, but if you really want to start on that road to home ownership, you want to know how much money you need and how much house you can afford.

Although, the easy 100% financing loans for anyone with a pulse are a thing of the past, it is likely that you will need to have some money saved up for a down payment. There are exceptions to the 20% down standard. There are USDA loans, VA loans, and several others that fit into a program that may allow low to no money down. Your Realtor or loan officer can help you find out which loan and property best fits your current situation, both financially and with your housing needs in mind.

14. Who do I talk to about all this stuff?

That one is easy. Call your Realtor. They will guide you through the entire process and assist you from beginning to end. If you do not have a Realtor, I can assist you on the island of Oahu. If you need an agent on another island—I know some very good ones on every island. Call or email me and I will point you in the right direction.

Those are the most common questions we get when a client is starting their search for a home. The process of buying a home is completely different for everyone, but the tools and professionals are available to assist you.

To ask me your real estate questions, email me. To continue browsing for Hawaii Real Estate, click here.

Kelly A. Lee, (R) e-PRO, CHMS
Realtor-Broker
Hawaii Life Real Estate
4614 Kilauea Avenue, Ste. 206
Honolulu, HI. 96816
Phone: 808-225-0349
Fax: 866-590-3144
www.hawaiilife.com